Purpose

The purpose of this paper is to establish the relationship between intellectual capital (IC) and employees' productivity (EP) in the Gulf Cooperation Council (GCC) region.

Design/methodology/approach

The value-added intellectual coefficient (VAIC) is used to measure IC performance in 198 firms listed in Saudi Arabia and Bahrain from 2012 to 2014. The pooled-corrected estimation technique is used to estimate a panel regression model with EP as the dependent variable. Firm size and sectors are controlled for in the regression analysis. The independent variable (IC) has been measured using human capital efficiency (HCE), structural capital efficiency and capital employed efficiency (CEE) in order to measure the value of IC.

Findings

Based on the VAIC, the authors found that the values of IC investments are mostly generated from investments in human capital. The results of the panel-corrected ordinary least square indicate that VAIC and its individual components are positive and significantly related to variations in employees' productivity. HCE contributed the highest and CEE contributed lowest VAIC.

Originality/value

The originality of this paper is to show the importance of investment in the human capital as a key contributor of firm's performance. Hence, this study encourages firm's leaders and management in the GCC to invest and focus their management/leadership styles on human capital to achieve their goals. To the best of the knowledge of the coauthors, this is the first study which empirically examines the relationship between IC and EP in the GCC region.

中文翻译：

---

智力资本与员工生产力的关系：来自海湾合作委员会的证据

目的

本文旨在建立海湾合作委员会 (GCC) 地区智力资本 (IC) 与员工生产力 (EP) 之间的关系。

设计/方法/方法

增值智力系数（VAIC）用于衡量2012年至2014年在沙特阿拉伯和巴林上市的198家公司的IC绩效。使用合并校正估计技术估计以EP为因变量的面板回归模型。在回归分析中控制了企业规模和部门。自变量 (IC) 使用人力资本效率 (HCE)、结构资本效率和资本使用效率 (CEE) 来衡量，以衡量 IC 的价值。

发现

作者基于 VAIC 发现，IC 投资的价值主要来自人力资本投资。面板校正的普通最小二乘结果表明 VAIC 及其各个分量是正的，并且与员工生产力的变化显着相关。HCE 贡献最高，CEE 贡献最低 VAIC。

原创性/价值

本文的独创性在于展示人力资本投资作为公司业绩的关键贡献者的重要性。因此，本研究鼓励海湾合作委员会的公司领导和管理层将他们的管理/领导风格投资于人力资本，以实现他们的目标。据合著者所知，这是第一项实证检验海湾合作委员会地区 IC 和 EP 之间关系的研究。