Intellectual capital plays a crucial role in fostering organizational growth and competitiveness in today's corporate landscape. This intangible asset is challenging to assess but is widely recognized for adding value, enhancing competitive advantage, and ensuring organizational success. Intellectual capital consists of three key elements: human capital, structural capital, and customer capital. Among these, customer capital refers to a company's relationship with external stakeholders, particularly customers, and its ability to maintain trust, brand awareness, and market orientation. This study examines the impact of customer capital on the performance of high technology (Hi-Tech) companies listed in Malaysia. The study utilizes panel data analysis, including correlation coefficient tests and a fixed effect model. The findings indicate an insignificant negative relationship between customer capital and organizational performance, suggesting that an increase in customer capital may not significantly affect Hi-Tech company performance. Additionally, firm size shows an insignificant positive relationship with organizational performance, implying that larger firms may not necessarily achieve better performance. Overall, the study concludes that customer capital and firm size do not significantly affect the performance of Hi-Tech companies in Malaysia.
Ahangar, R. G. (2011). The relationship between intellectual capital and financial performance: An empirical investigation in an Iranian company. African Journal of Business Management, 5(1), 88–95. https://doi.org/10.5897/AJBM10.712
Aisyah, R. A., Sukoco, B. M., & Anshori, M. (2019). The effect of relational capital on performance: Knowledge sharing as mediation variables in supplier and buyer relation. Int. J. Logist. Syst. Manag., 34(2), 211e232.
AlQershi, N., Mokhtar, S. S. M., & Abas, Z. B. (2020). Innovative CRM and performance of SMEs: The moderating role of relational capital. J. Open Innov.:Technol. Mark. Complex., 6(4), 155.
Badaracco, J. L. (1991). The Knowledge Link. Harvard Business School Press.
Baron, A. (2011). Measuring human capital. Strategic HR Review VO - 10, (2), 30. https://doi.org/10.1108/14754391111108338
Bergh, D. D., Connelly, B. L., Ketchen, D. J. Jr., & Shannon, L. M. (2014). Signalling theory and equilibrium in strategic management research: An assessment and a research agenda. Journal of Management Studies, 51(8), 1334–1360.
Bontis, N. (1998). Intellectual capital?: an exploratory study that develops measures and models.
Bontis, N., Chua, W., & Richardson, S. (2000). Intellectual capital and business performance in Malaysian industries industries. Journal of Intellectual Capital (Vol. 1). https://doi.org/10.1108/14691930010324188
Borho, H., Iarozinski Neto, A., & Lima, E. P. de. (2012). Manufacturing knowledge management. Gestão & Produção, 19(2), 247–264. https://doi.org/10.1590/S0104-530X2012000200002
Cabrita, M. D. R., & Bontis, N. (2008). Intellectual capital and business performance in the Portuguese banking industry. Int. J. Technology Management, 43(1), 212–237. https://doi.org/10.1504/IJTM.2008.019416
Chang, A., & Tseng, T. H. (2015). Consumer evaluation in new products: the perspective of situational strength. European Journal of Marketing, 49(5/6), 806–826. https://doi.org/10.1108/EJM-06-2012-0374
Chauvin, K. W., & Hirschey, M. (1993). Advertising, R&D Expenditures and the Market Value of the Firm. Financial Management, 22(4), 128–140. https://doi.org/10.2307/3665583
Chen, M., Cheng, S., & Hwang, Y. (2005). An empirical investigation of the relationship between intellectual capital and firms’ market value and financial performance. Journal of Intellectual Capital (Vol. 6). https://doi.org/10.1108/14691930510592771
Connelly, B. L., Certo, S. T., Ireland, R. D., & Reutzel, C. R. (2011). Signaling Theory: A Review and Assessment. Journal of Management, 37(1), 39–67. https://doi.org/10.1177/0149206310388419
Corvino, A., Caputo, F., Pironti, M., Doni, F., & Martini, S. B. (2019). The moderating effect of firm size on relational capital and firm performance. J. Intellect. Cap., 20(4), 510e532.
Dang, C., (Frank) Li, Z., & Yang, C. (2018). Measuring firm size in empirical corporate finance. Journal of Banking & Finance, 86, 159–176. https://doi.org/10.1016/j.jbankfin.2017.09.006
Daum, J. H. (2001). Value Drivers Intangible Assets: Do We Need a New Approach to Financial and Management Accounting? A Blueprint for an Improved Management System former Director Program Management mySAP Financials, SAP AG. Retrieved from http://www.juergendaum.com
de Clercq, D., & Sapienza, H. J. (2006). Effects of relational capital and commitment on venture capitalists' perception of portfolio company performance. J. Bus. Ventur., 21(3), 326e347.
Delaney, J. T., & Huselid, M. A. (1996). The impact of human resource management practices on perceptions of organizational performance. Academy of Management Journal, 39(4), 949–969. https://doi.org/10.2307/256718
Duffy, J. (2000). Measuring Customer Capital. https://doi.org/10.1108/SL-06-2015-0054
Firer, S., & Williams, S. M. (2003). Intellectual capital and traditional measures of corporate performance. J. Intellect. Cap., 4(3), 348e360.
Gogan, L. M., Artene, A., Sarca, I., & Draghici, A. (2016). The Impact of Intellectual Capital on Organizational Performance. Procedia - Social and Behavioral Sciences, 221(0), 194–202. https://doi.org/10.1016/j.sbspro.2016.05.106
Gold, A. H., Malhotra, A., & Segars, A. H. (2001). Knowledge Management: An Organizational Capabilities Perspective. Journal of Management Information Systems, 18(1), 185–214. https://doi.org/10.1080/07421222.2001.11045669
Hakala, H. (2011). Strategic orientations in management literature: Three approaches to understanding the interaction between market, technology, entrepreneurial and learning orientations. Int. J. Manag. Rev., 13(2), 199e217.
Hult, G. T. M., Ketchen, D. J., Griffith, D. A., Chabowski, B. R., Hamman, M. K., Dykes, B. J., … Cavusgil, S. T. (2008). An assessment of the measurement of performance in international business research. Journal of International Business Studies, 39(6), 1064–1080. https://doi.org/10.1057/palgrave.jibs.8400398
Ittner, C. D., & Larcker, D. F. (1998). Innovations in Performance Measurement: Trends and Research Implications. Journal of Management Accounting Research, 10(2), 205–238. https://doi.org/10.2139/ssrn.137278
Kamaluddin, A., & Rahman, R. A. (2013). Intellectual Capital Profiles: Empirical Evidence of Malaysian Companies. International Review of Business Research Papers, 9(6), 83–101.
Kamukama, N., Ahiauzu, A., & Ntayi, J. M. (2010). Intellectual capital and performance: testing interaction effects. Journal of Intellectual Capital, 11(4), 554–574. https://doi.org/10.1108/14691931011085687
Kamukama, N., Ahiauzu, A., & Ntayi, J. M. (2010). Intellectual capital and performance: testing interaction effects. Journal of Intellectual Capital, 11(4), 554–574. https://doi.org/10.1108/14691931011085687
Kaplan, R. S., & Norton, D. P. (1992). The balanced scorecard--measures that drive performance. Harvard Business Review, 70(1), 71–79. https://doi.org/00178012
Keong Choong, K. (2008). Intellectual capital: definitions, categorization and reporting models. Journal of intellectual capital, 9(4), 609-638.
Kohli, A. K., & Jaworski, B. J. (1990). Market Orientation: The Construct, Research Propositions, and Managerial Implications. Journal of Marketing, 54(2), 1. https://doi.org/10.2307/1251866
Lee, S., Gon Kim, B., & Kim, H. (2012). An integrated view of knowledge management for performance. Journal of Knowledge Management, 16(2), 183–203. https://doi.org/10.1108/13673271211218807
Lee, S., Gon Kim, B., & Kim, H. (2012). An integrated view of knowledge management for performance. Journal of Knowledge Management, 16(2), 183–203. https://doi.org/10.1108/13673271211218807
Lopes, J. A., Munoz, A., Lopes-Costa, J. A., Munoz-Canavate, A., Lopes, J. A., & Munoz, A. (2015). Relational Capital and Organizational Performance in the Portuguese Hotel Sector (NUTS II Lisbon). Procedia Economics and Finance, 26(15), 64–71. https://doi.org/10.1016/S2212-5671(15)00839-4
Maditinos, D., Chatzoudes, D., Tsairidis, C., & Theriou, G. (2011). The impact of intellectual capital on firms’ market value and financial performance. Journal of Intellectual Capital, 12(1), 132–151. https://doi.org/10.1108/14691931111097944
March, J. G., & Sutton, R. I. (1997). Organizational performance as a dependent variable. Organization Science, 8(6), 698–706. https://doi.org/Article
Mavridis, D. G. (2005). Intellectual capital performance determinants and globalization status of Greek listed firms. Journal of Intellectual Capital, 6(1), 127–140. https://doi.org/10.1108/14691930510574708
Mishra, S., & Mohanty, P. (2014). Corporate governance as a value driver for firm performance: evidence from India, CORPORATE GOVERNANCE , VOL. 14 , NO. 2, pp. 265-280.
Ngah, R., & Ibrahim, A. R. (2009). The Relationship of Intellectual Capital, Innovation and Organizational Performance: a Preliminary Study in. International Journal of Management Innovation Systems ISSN, 1(1), 1–1. Retrieved from www.macrothink.org/ijmis
O’Connor, A., Roos, G., & Vickers-Willis, T. (2007). Evaluating an Australian public policy organization’s innovation capacity. European Journal of Innovation Management, 10(4), 532–558. https://doi.org/10.1108/14601060710828817
Riar, F. J., Hienerth, C., & Jensen, M. B. (2021). Digital due diligence activities and goal setting in equity crowdfunding: Exploring the differences between novice and experienced investors. International. Journal of Entrepreneurial Venturing, 13(1), 1–26.
Richard, P. J., Devinney, T. M., Yip, G., & Johnson, G. (2009). Measuring Organizational Performance: Towards Methodological Best Practice. Journal of Management, 35(3), 718–804. https://doi.org/10.1177/0149206308330560
Richard, P. J., Devinney, T. M., Yip, G., & Johnson, G. (2009). Measuring Organizational Performance: Towards Methodological Best Practice. Journal of Management, 35(3), 718–804. https://doi.org/10.1177/0149206308330560
Richter, N. F., Schmidt, R., Ladwig T.J. & Wulhorst, F. (2017). A critical perspective on the measurement of performance in the empirical multinationality and performance literature, Critical perspectives on international business, Vol. 13 No. 2, pp. 94-118.
Roos, G., & Roos, J. (1997). Measuring your company’s intellectual performance. Long Range Planning, 30(3), 413–426. https://doi.org/10.1016/S0024-6301(97)90260-0
Seleim, A., Ashour, A., & Bontis, N. (2004). Intellectual capital in Egyptian software firms. The Learning Organization, 11(4/5), 332–346. https://doi.org/10.1108/09696470410538233
Seleim, A., Ashour, A., & Bontis, N. (2007). Human capital and organizational performance: a study of Egyptian software companies. Management Decision, 45(4), 789–801. https://doi.org/10.1108/00251740710746033
Sharabati, A. A., Jawad, N. S., & Bontis, N. (2010). Intellectual capital and business performance in the pharmaceutical sector of Jordan. Management Decision, 48(1), 105–131. https://doi.org/10.1108/00251741011014481
Shubita, M. F., & Alswalhah, J. M. (2012). The Relationship between Capital Structure and Profitability. International Journal of Business and Social Science, 3(16), 104–112. https://doi.org/10.1108/03074350810915851
Sofian, S., Tayles, M., & Pike, R. H. (2004). Intellectual capital: an evolutionary change in management accounting practices. University of Bradford, School of Management.
Spence, M. (1973). Job Market Signaling. The Quarterly Journal of Economics, 87(3), 355. https://doi.org/10.2307/188201
Spence, M. (1973). Job market signaling. The Quarterly Journal of Economics, 87(3), 355–374.
Stierwald, A. (2009). Determinants of Firm Profitability -The Effect of Productivity and its Persistence. Melbourne Institute of Applied Economic and Social Research. Retrieved from www.melbourneinstitute.com
Stiglitz, J. E. (2002). Information and the change in the paradigm in economics. American Economic Review, 92(3), 460–501.
Subramaniam, M., & Youndt, M. A. (2005). The Influence of Intellectual Capital On The Types Of Innovation Capabilities. Academy of Management Journal, 48(3), 450–463. https://doi.org/10.5465/AMJ.2005.17407911
Swart. S. (2006). Intellectual capital: disentangling an enigmatic concept. Journal of Intellectual Capital, Emerald Group Publishing Limited, 7(2), 136-159.
Ting, I. W. K., Ren, C., Chen, F. C., & Kweh, Q. L. (2020). Interpreting the dynamic performance effect of intellectual capital through a value-added-based perspective. Journal of Intellectual Capital.
Tseng, S.-M. (2014). The impact of knowledge management capabilities and supplier relationship management on corporate performance. International Journal of Production Economics, 154, 39–47. https://doi.org/10.1016/j.ijpe.2014.04.009
Vaccaro, A., Parente, R., & Veloso, F. M. (2010). Knowledge Management Tools, Inter-Organizational Relationships, Innovation and Firm Performance. Technological Forecasting and Social Change, 77(7), 1076–1089.
https://doi.org/10.1016/j.techfore.2010.02.006
Vithessonthi, C., & Tongurai, J. (2015). The effect of firm size on the leverage-performance relationship during the financial crisis of 2007-2009. Journal of Multinational Financial Management, 29, 1–29. https://doi.org/10.1016/j.mulfin.2014.11.001
Youndt, T. (2004). Intellectual capital profiles: An examination of investments and returns. Journal of Management Studies, Blackwell Publishing, 333-361.
Zhou, K. Z., Yim, C. K., & Tse, D. K. (2005). The effects of strategic orientations on technology- and market-based breakthrough innovations. J. Market., 69(2), 42e60.