The purpose of this study is to shed light on the extent of intellectual capital efficiency (ICE) and the relationship of its three components (human capital efficiency, structural capital efficiency, and relational capital efficiency) with Islamic banking performance (in terms of return on assets, return on equity, and Tobin's q) in Muslim countries. We develop hypotheses on this relationship drawing on the resource-based theory. The study employs a two-step system generalized method of moments (2SYS-GMM) estimator to analyze the data collected from 129 Islamic banks in 29 Muslim countries over the period from 2008 to 2017. The study provides evidence that the performance of Islamic banks (IBs) is driven primarily by investment in ICE. The results indicate that structural capital efficiency (SCE) and relational capital efficiency (RCE) are the essential drivers of value in achieving high performance at Islamic banks. The results reveal that human capital efficiency (HCE) negatively affects the performance of IBs. Bank size and foreign ownership are also identified as significant drivers of IBs performance. This study helps IBs to maintain their ICE assets because they are the main drivers for sustaining competitive advantage as well as raising bank productivity. Our findings can help stakeholders and policymakers to recognize the significant components of ICE and a reasonable allocation among them for improving bank performance. To the best of our knowledge, this is the first empirical study to evaluate ICE and its relationship with Islamic banking performance in 29 Muslim countries across the Middle East, South Asia, and Southeast Asia.

本研究的目的是阐明智力资本效率 (ICE) 的范围及其三个组成部分（人力资本效率、结构资本效率和关系资本效率）与伊斯兰银行绩效（在回报率方面）的关系。穆斯林国家的资产、股本回报率和托宾 q)。我们利用基于资源的理论对这种关系提出假设。该研究采用两步系统广义矩量法 (2SYS-GMM) 估计器来分析 2008 年至 2017 年期间从 29 个穆斯林国家的 129 家伊斯兰银行收集的数据。该研究提供的证据表明，伊斯兰银行的表现 ( IBs) 主要由对 ICE 的投资驱动。结果表明，结构资本效率 (SCE) 和关系资本效率 (RCE) 是伊斯兰银行实现高绩效的重要价值驱动因素。结果表明，人力资本效率 (HCE) 对 IB 的绩效产生负面影响。银行规模和外资所有权也被认为是 IB 业绩的重要驱动因素。这项研究有助于 IB 维持其 ICE 资产，因为它们是维持竞争优势和提高银行生产力的主要驱动力。我们的研究结果可以帮助利益相关者和政策制定者认识到 ICE 的重要组成部分，并在其中合理分配以提高银行绩效。据我们所知，