Purpose

The purpose of this paper is to investigate the impact of intellectual capital (IC) efficiency on the banks’ risk-taking and stability of Asian emerging markets.

Design/methodology/approach

This study uses a sample of 204 listed banks from 12 Asian emerging countries for the period 2010 to 2019. Data were analyzed using Ordinary Least Squares regression and checked for robustness using system generalized methods moment (GMM) estimation. The dependent variable of bank stability is measured using Z-score-based return on assets (ROA) and return on equity (ROE). The second dependent variable of bank risk is proxied by the standard deviation of ROA, ROE, non-performing loans and loan loss provision.

Findings

The results suggest the IC efficiency has no association with bank risk-taking and stability. The findings lend no support to the resource-based theory. The robustness of this result is confirmed by the system GMM estimation. However, support is found for the competition fragility view as high market power is associated with low risk-taking. The IC subcomponents, human capital efficiency (HCE) report a negative coefficient for bank risk-taking thereby having no support for the hypothesized relationships. Diversified banks with a higher deposit to total asset ratio resort to high risk-taking.

Research limitations/implications

IC efficiency does not have an impact on the bank’s risk-taking behavior and stability for Asian banks. Managers can use these findings to improve their IC and boost investor confidence. Regulatory authorities should increase its monitoring function of banks when the GDP decreases as risk-taking behavior are galvanized during this period.

Originality/value

This research is one of the first to provide empirical evidence of IC efficiency’s relationship with bank stability and bank risk-taking. The implications are useful for policymakers, managers and governing bodies to enhance the banks’ IC efficiency.

中文翻译：

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智力资本、银行稳定性和风险承担：来自亚洲新兴市场的证据

目的

本文的目的是研究智力资本（IC）效率对亚洲新兴市场银行风险承担和稳定性的影响。

设计/方法/方法

本研究使用 2010 年至 2019 年期间来自 12 个亚洲新兴国家的 204 家上市银行的样本。使用普通最小二乘回归分析数据，并使用系统广义方法矩 (GMM) 估计检查稳健性。银行稳定性的因变量使用基于 Z 分数的资产回报率 (ROA) 和股本回报率 (ROE) 来衡量。银行风险的第二个因变量由ROA、ROE、不良贷款和贷款损失准备的标准差代表。

发现

结果表明，IC 效率与银行风险承担和稳定性无关。这些发现不支持基于资源的理论。该结果的稳健性得到了系统 GMM 估计的证实。然而，竞争脆弱性观点得到了支持，因为高市场支配力与低风险承担相关。IC 子组件，人力资本效率 (HCE) 报告了银行风险承担的负系数，因此不支持假设的关系。存款占总资产比率较高的多元化银行采取高风险承担。

研究限制/影响

IC效率对亚洲银行的风险承担行为和稳定性没有影响。管理者可以利用这些发现来改善他们的 IC 并增强投资者的信心。当 GDP 下降时，监管部门应加强对银行的监控，因为在此期间冒险行为受到刺激。

原创性/价值

这项研究是最早提供 IC 效率与银行稳定性和银行风险承担关系的经验证据之一。这些影响对于政策制定者、管理者和管理机构提高银行的 IC 效率是有用的。