Intellectual capital and productivity of managers: The case study of hotel industry in Serbia
DOI:
https://doi.org/10.5937/bizinfo2201001OKeywords:
intellectual capital, productivity of manager, hotel, human resource managementAbstract
Intellectual capital is the part of intangible assets that affects value creation. Intellectual capital includes human capital, structural capital, and customer capital. The paper aims to investigate the relationship between intellectual capital and the managers’ productivity in hotel companies. The research included 80 hotels with 3-stars, 4-stars, and 5-stars. Testing of research hypotheses is performed by application of multiple regression analysis and ANOVA test. The obtained results support the positive contribution of the components of intellectual capital on the productivity of managers in hotel companies. Also, the results show that there is no significant difference in the level of achieved manager’s productivity between hotels of 3-stars, 4-stars, and 5-stars.
Downloads
References
Ahmad, R., Scott, N., & Abdul-Rahman, R. (2016). Why minimum wage order implementation is a challenge to human resource managers in Langkawi hotels. International Journal of Culture, Tourism and Hospitality Research, 10(2), 191-204. https://doi.org/10.1108/IJCTHR-06-2015-0065
Allameh, S.M. (2018). Antecedents and consequences of intellectual capital: The role of social capital, knowledge sharing and innovation. Journal of Intellectual Capital, 19(5), 858-874. https://doi.org/10.1108/JIC-05-2017-0068
Baumann, C., Hamin, H., Tung, R., & Hoadley, S. (2016). Competitiveness and workforce performance: Asia vis-à-vis the “West”. International Journal of Contemporary Hospitality Management, 28(10), 2197-2217. https://doi.org/10.1108/IJCHM-12-2014-0617
Bontis, N. (1998). Intellectual capital: an exploratory study that develops measures and models. Management Decision, 36(2), 63-76. https://doi.org/10.1108/00251749810204142
Bontis, N., Chua Chong Keow, W., & Richardson, S. (2000). Intellectual capital and business performance in Malaysian industries. Journal of Intellectual Capital, 1(1), 85-100. https://doi.org/10.1108/14691930010324188
Bontis, N., Janoševic, S., & Dženopoljac, V. (2015). Intellectual capital in Serbia’s hotel industry. International Journal of Contemporary Hospitality Management, 27(6), 1365-1384. https://doi.org/10.1108/IJCHM-12-2013-0541
Bose, R. (2004). Knowledge management metrics. Industrial Management & Data Systems, 104(4), 457-468. https://doi.org/10.1108/02635570410543771
Buallay, A., Abuhommous, A. A. A., & Kukreja, G. (2021). The relationship between intellectual capital and employees' productivity: evidence from the Gulf Cooperation Council. The Journal of Management Development, 40(6), 526-541. https://doi.org/10.1108/JMD-05-2019-0210
Calisir, F., Gumussoy, C. A., Bayraktarog˘lu, E., & Deniz, E. (2010). Intellectual capital in the quoted Turkish ITC sector. Journal of Intellectual Capital, 11(4), 537-553. https://doi.org/10.1108/14691931011085678
Carson, E., Ranzijn, R., Winefield, A., & Marsden, H. (2004). Intellectual capital Mapping employee and work group attributes. Journal of Intellectual Capital, 5(3), 443-463. https://doi.org/10.1108/14691930410550390
Chen, J., Zhu, Z., & Xie, H.Y. (2004). Measuring intellectual capital: a new model and empirical study. Journal of Intellectual Capital, 5(1), 195-212. https://doi.org/10.1108/14691930410513003
Cheng, S., Lin, J., Hsiao, T., & Lin, T. (2010). Invested resource, competitive intellectual capital, and corporate performance. Journal of Intellectual Capital, 11(4), 433-450. https://doi.org/10.1108/14691931011085623
Davey, J., Alsemgeest, R., O’Reilly-Schwass, S., Davey, H., & FitzPatrick, M. (2017). Visualizing intellectual capital using service-dominant logic What are hotel companies reporting? International Journal of Contemporary Hospitality Management, 29(6), 1745-1768. https://doi.org/10.1108/IJCHM-12-2015-0733
Dobrosavljević, A., & Urošević, S. (2020). The impact of human resource management on business process improvement: an analysis within the MSMEs of the textile and clothing industry. BizInfo (Blace), 11(2), 19-32. https://doi.org/10.5937/bizinfo2002019D
Drucker, P.F. (1999). Management Challenges for the 21st Century. Oxford: Elsevier Butterworth-Heinemann,
Edvinsson, L., & Malone, M.S. (1997). Intellectual Capital: Realizing Your Company’s True Value by Finding Its Hidden Brainpower. New York: HarperCollins.
Engstrom, T., Westnes, P., & Westnes, S.F. (2003). Evaluating intellectual capital in the hotel industry. Journal of Intellectual Capital, 4(3), 287-303. https://doi.org/10.1108/14691930310487761
Firer, S., & Williams, M. (2003). Intellectual capital and traditional measures of corporate performance. Journal of Intellectual Capital, 4(3), 348-360. https://doi.org/10.1108/14691930310487806
Frutos-Belizón, J., Martín-Alcázar, F., & Sánchez-Gardey, G. (2019). Conceptualizing academic intellectual capital: definition and proposal of a measurement scale. Journal of Intellectual Capital, 20(3), 306-334. https://doi.org/10.1108/JIC-09-2018-0152
Ghosh, S., & Mondal, A. (2009). Indian software and pharmaceutical sector IC and financial performance. Journal of Intellectual Capital, 10(3), 369-388. https://doi.org/10.1108/14691930910977798
Grant, R.M. (1996). Toward a knowledge-based theory of the firm. Strategic Management Journal, 17(SI), 109-122. https://doi.org/10.1002/smj.4250171110
Huang, Y., & Jim Wu, Y. (2010). Intellectual capital and knowledge productivity: the Taiwan biotech industry. Management Decision, 48(4), 580-599. https://doi.org/10.1108/00251741011041364
Ivanovic, T., Maksimovic, G., Mandaric, M., Radivojevic, N., & Jovic, M. (2021). The impact of intellectual capital on the financial performance of agricultural enterprises: Evidence from the West Balkans Counties. Custos Agronegocio Line, 17, 350–376.
Karadag, E., & Dumanoglu, S. (2009). The productivity and competency of information technology in upscale hotels the perception of hotel managers in Turkey. International Journal of Contemporary Hospitality Management, 21(4), 479-490. https://doi.org/10.1108/09596110910955712
Kengatharan, N. (2019). A knowledge-based theory of the firm Nexus of intellectual capital, productivity and firms’ performance. International Journal of Manpower, 40(6), 1056-1074. https://doi.org/10.1108/IJM-03-2018-0096
Laing, G., Dunn, J., & Hughes-Lucas, S. (2010). Applying the VAICTM model to Australian hotels. Journal of Intellectual Capital, 11(3), 269-283. https://doi.org/10.1108/14691931011064545
Lo, Y.H. (2013). Stakeholder management in the Chinese hotel industry: the antecedents and impacts. International Journal of Contemporary Hospitality Management, 25(4), 470-490. https://doi.org/10.1108/09596111311322880
Mandarić, M. (2016). Strategijski brend menadžment, Vrnjačka Banja: Univerzitet u Kragujevcu, Fakultet za hotelijerstvo i turizam u Vrnjačkoj Banji.
Marimuthu, M., Arokiasamy, L., & Ismail, M. (2009). Human capital development and its impact on firm performance: evidence from developmental economics. The Journal of International Social Research, 2(8), 265-272.
Marr, B., & Schiuma, G. (2001). Measuring and managing intellectual capital and knowledge assets in new economy. In Bourne, M. (Ed.), Handbook of Performance Measurement, London: Gee.
Masayoshi, S., Kiyoshi, W., & Kazuo, N. (1991). Value Added Productivity. Tokyo: Asian Productivity Organization.
Musah, M.B., Ali, H.M., Vazhathodi al-Hudawi, S.H., Tahir, L.M., Daud, K.B., Said, H.B., & Kamil, N.M. (2016). Organisational climate as a predictor of workforce performance in the Malaysian higher education institutions. Quality Assurance in Education, 24(3), 416-438. https://doi.org/10.1108/QAE-10-2014-0048
Nemec Rudež, H., & Mihalič, T. (2007). Intellectual capital in the hotel industry: A case study from Slovenia. International Journal of Hospitality Management, 26, 188-199. https://doi.org/10.1016/j.ijhm.2005.11.002
Nerdrum, L., & Erikson, T. (2001). Intellectual capital: a human capital perspective. Journal of Intellectual Capital, 2(2), 127-135. https://doi.org/10.1108/14691930110385919
Nunnally, J.C. (1978). Introduction to Psychological Measurement. New York: McGraw-Hill.
Ognjanović, J. & Pešterac, A. (2019). Research on the Relationship Between Intellectual Capital and Indicators of Work Results of Employees in the Banking Sector of the Republic of Serbia. School of Business, 2, 1-22. https://doi.org/10.5937/skolbiz2-22612
Ognjanović, J. (2017). Relations of Intellectual Capital Components in Hotel Companies. Industrija, 45(2), 181-196. https://doi.org/10.5937/industrija45-12144
Ognjanović, J. (2020). Employer brand and workforce performance in hotel companies. Hotel and Tourism Management, 8(2), 65-78. https://doi.org/10.5937/menhottur2002065O
Oppong, G.K., Pattanayak, J.K., & Irfan, M. (2019). Impact of intellectual capital on productivity of insurance companies in Ghana A panel data analysis with System GMM estimation. Journal of Intellectual Capital, 20(6), 763-783. https://doi.org/10.1108/JIC-12-2018-0220
Pal, K., & Soriya, S. (2012). IC performance of Indian pharmaceutical and textile industry. Journal of Intellectual Capital, 13(1), 120-137. https://doi.org/10.1108/14691931211196240
Pallant, J. (2011). SPSS priručnik za preživljavanje. Beograd: Mikro knjiga.
Perić, G., Dramićanin, S. & Milenkovski, A. (2020). Measuring perception of service quality of Serbian rural tourism using RURALQUAL scale. BizInfo (Blace), 11(1), 1-17. https://doi.org/10.5937/bizinfo2001001P
Perić, G., Dramićanin, S., & Pavlović, N. (2021). The influence of internal service quality and employee satisfaction on organizational commitment in travel agencies: The case of Serbia. Hotel and Tourism Management, 9(1), 43-60. https://doi.org/10.5937/menhottur2101043P
Phusavat, K., Come, N., Sitko-Lutek, A., & Ooi, K. (2013). Productivity management: integrating the intellectual capital. Industrial Management & Data Systems, 113(6), 840-855. https://doi.org/10.1108/IMDS-09-2012-0330
Rahimpour, K., Shirouyehzad, H., Asadpour, M., & Karbasian, M. (2020). A PCA-DEA method for organizational performance evaluation based on intellectual capital and employee loyalty A case study. Journal of Modelling in Management, 15(4), 1479-1513. https://doi.org/10.1108/JM2-03-2019-0060
Roos, J., Roos, G., Dragonetti, N., & Edvinsson, L. (1997). Intellectual Capital: Navigating the New Business Landscape. London: Macmillan Press Ltd.
Sarmento, M. (2010). e-Learning as a tool to improve quality and productivity in hotels. Worldwide Hospitality and Tourism Themes, 2(4), 398-409. https://doi.org/10.1108/17554211011074056
Stewart, T.A. (1997). Intellectual Capital – The New Wealth of Organizations. London: Nicholas Brealey.
Vujić, M., Sekulić, D., & Cvijanović, D. (2020). The importance of intangible elements in the assessment of service quality in hotels in Kolubara District. Hotel and Tourism Management, 8(2), 43-52. https://doi.org/10.5937/menhottur2002043V%20
Wang, Z., Wang, Z., Wang, N., Wang, N., Cao, J., Cao, J., Ye, X., & Ye, X. (2016). The impact of intellectual capital–knowledge management strategy fit on firm performance. Management Decision, 54(8), 1861-1885. https://doi.org/10.1108/MD-06-2015-0231
Weqar, F., Khan, A.M., & Haque, S.M.I. (2020). Exploring the effect of intellectual capital on financial performance: a study of Indian banks. Measuring Business Excellence, 24(4), 511-529. https://doi.org/10.1108/MBE-12-2019-0118
Xu, J., & Li, J. (2021). The interrelationship between intellectual capital and firm performance: evidence from China’s manufacturing sector. Journal of Intellectual Capital, 23(2), 313-341. https://doi.org/10.1108/JIC-08-2019-0189
Downloads
Published
Issue
Section
License
Copyright (c) 2022 BizInfo (Blace) Journal of Economics, Management and Informatics

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.






