The mediating effect of corporate performance on the influence of intellectual capital and perceived environmental uncertainty on capital structure

Understanding and determining capital structure are important for developing countries because firms in the countries are faced with highly competitive and dynamic environment. Financial accounting literatures have highlighted the important role of non-financial factors such as intellectual capital...

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Main Author: Soheilirad, Somayeh
Format: Thesis
Language:English
Published: 2016
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Online Access:http://eprints.utm.my/id/eprint/78994/1/SomayehSoheiliradPFM2016.pdf
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spelling my.utm.789942018-09-19T05:22:37Z http://eprints.utm.my/id/eprint/78994/ The mediating effect of corporate performance on the influence of intellectual capital and perceived environmental uncertainty on capital structure Soheilirad, Somayeh HD28 Management. Industrial Management Understanding and determining capital structure are important for developing countries because firms in the countries are faced with highly competitive and dynamic environment. Financial accounting literatures have highlighted the important role of non-financial factors such as intellectual capital (IC) as a main value added factor for companies, and perceived environmental uncertainty (PEU) as unpredictable contingency factor from a dynamic environment on corporate performance. Therefore, it is important for organizations rely more on non-financial than financial factors to achieve higher competitive advantage. Moreover, the relationship between corporate performance and capital structure is strong. Due to the influence of non-financial factors of IC and PEU on corporate performance, capital structure decision making will be difficult. Identifying the most important non-financial factors affecting corporate performance from these environments and their relationship with capital structure is the main issue in today’s dynamic conditions. This research examined the relationship between non-financial factors of IC and PEU and evaluated their influence on capital structure directly or indirectly by considering corporate performance as mediator. Questionnaires were distributed to 339 public listed Iranian manufacturing companies selected by census. Data were analyzed using structural equation modeling. The main findings of this study are IC can enhance corporate performance, PEU is positively linked to corporate performance, and corporate performance is positively linked to capital structure. The results also indicated a full mediating role of corporate performance in the relationship between PEU and capital structure. This study contributes to determining capital structure decision making, by considering IC and PEU in the context of companies in Iran. Further in-depth research is needed to examine the links between non-financial factors with different measurement perspectives and capital structure to develop a deeper understanding of their effect on capital structure. 2016 Thesis NonPeerReviewed application/pdf en http://eprints.utm.my/id/eprint/78994/1/SomayehSoheiliradPFM2016.pdf Soheilirad, Somayeh (2016) The mediating effect of corporate performance on the influence of intellectual capital and perceived environmental uncertainty on capital structure. PhD thesis, Universiti Teknologi Malaysia, Faculty of Management. http://dms.library.utm.my:8080/vital/access/manager/Repository/vital:106262
institution Universiti Teknologi Malaysia
building UTM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Malaysia
content_source UTM Institutional Repository
url_provider http://eprints.utm.my/
language English
topic HD28 Management. Industrial Management
spellingShingle HD28 Management. Industrial Management
Soheilirad, Somayeh
The mediating effect of corporate performance on the influence of intellectual capital and perceived environmental uncertainty on capital structure
description Understanding and determining capital structure are important for developing countries because firms in the countries are faced with highly competitive and dynamic environment. Financial accounting literatures have highlighted the important role of non-financial factors such as intellectual capital (IC) as a main value added factor for companies, and perceived environmental uncertainty (PEU) as unpredictable contingency factor from a dynamic environment on corporate performance. Therefore, it is important for organizations rely more on non-financial than financial factors to achieve higher competitive advantage. Moreover, the relationship between corporate performance and capital structure is strong. Due to the influence of non-financial factors of IC and PEU on corporate performance, capital structure decision making will be difficult. Identifying the most important non-financial factors affecting corporate performance from these environments and their relationship with capital structure is the main issue in today’s dynamic conditions. This research examined the relationship between non-financial factors of IC and PEU and evaluated their influence on capital structure directly or indirectly by considering corporate performance as mediator. Questionnaires were distributed to 339 public listed Iranian manufacturing companies selected by census. Data were analyzed using structural equation modeling. The main findings of this study are IC can enhance corporate performance, PEU is positively linked to corporate performance, and corporate performance is positively linked to capital structure. The results also indicated a full mediating role of corporate performance in the relationship between PEU and capital structure. This study contributes to determining capital structure decision making, by considering IC and PEU in the context of companies in Iran. Further in-depth research is needed to examine the links between non-financial factors with different measurement perspectives and capital structure to develop a deeper understanding of their effect on capital structure.
format Thesis
author Soheilirad, Somayeh
author_facet Soheilirad, Somayeh
author_sort Soheilirad, Somayeh
title The mediating effect of corporate performance on the influence of intellectual capital and perceived environmental uncertainty on capital structure
title_short The mediating effect of corporate performance on the influence of intellectual capital and perceived environmental uncertainty on capital structure
title_full The mediating effect of corporate performance on the influence of intellectual capital and perceived environmental uncertainty on capital structure
title_fullStr The mediating effect of corporate performance on the influence of intellectual capital and perceived environmental uncertainty on capital structure
title_full_unstemmed The mediating effect of corporate performance on the influence of intellectual capital and perceived environmental uncertainty on capital structure
title_sort mediating effect of corporate performance on the influence of intellectual capital and perceived environmental uncertainty on capital structure
publishDate 2016
url http://eprints.utm.my/id/eprint/78994/1/SomayehSoheiliradPFM2016.pdf
http://eprints.utm.my/id/eprint/78994/
http://dms.library.utm.my:8080/vital/access/manager/Repository/vital:106262
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score 13.211869