Intellectual Capital Performance of Singapore Banking using VAIC Model (2014)

Intellectual Capital Performance Dissertation – Financial Accounting has provided the basis to keep a track of all monetary transactions of a business, and provides data to value the assets of the company. However, there are some assets which are tough to realize in monetary terms and we ignore them in valuation. Intellectual capital is one of those intangible assets which are not accounted for while forming the balance sheet of the company. In banking business, where the quality and caliber of human resources, relationship with business and other capital assets mark the success of the firm, intellectual capital measurement is highly required.

The dissertation aims to compare the intellectual capital performance of Singapore banks with that of the foreign banks operating in the country. The measurement has been done by using the Value Added Intellectual Capital (VAIC) model propounded by Australian research Ante Pulic. The paper further justifies the use of this model and the readiness of Singapore economy to undertake such measure. Further, the performance indicators have been established after studying the existing literature in this respect.

The research makes use of both secondary and primary data and the research objectives are drawn which are tested by formulating relevant hypotheses. Finally, scope for further research, limitations of the research and necessary recommendations and final conclusion is drawn. The research is undertaken after establishing some objectives, which guides towards the path of the methodology and overall research. The main objectives of the research identified are given as under:

  • To compare the profitability of 26 banks in Singapore and determine the intellectual capital performance correlation between them
  • To identify various key performance measurement indicators of Intellectual Capital Performance and justification for the use of VAIC model
  • To ascertain the readiness of Singapore banking industries to adopt VAIC model for Intellectual Capital Performance measurement
  • To identify the most important component of intellectual capital out of human capital, relational capital and structural capital, for an organization and propose the model for its performance measurement

The above stated objectives are focused to garner the benefits that banking firms can earn by measuring and reporting the intellectual property. There is a positive relationship between the intellectual capital and the value creation, which is exemplified in the literature review, as discussed in the chapter two of the dissertation. The second and third objectives are discussed in depth in the literature review while the first objective is tested using the data from the annual reports of the respective banking firms and analyzing using the statistics tests. The fourth objective is discussed in the literature review and further, analysis is undertaken to justify the same in the fourth chapter of the dissertation.

It must further be noted that these 26 firms are chosen from the list of commercial banks given on the website of Monetary Authority of Singapore. Those banks are eliminated whose financial statements and annual reports are not available for the time of study, that is, from 2008 to 2012.

  • 20,000 words – 72 pages in length
  • Excellent use of literature
  • Excellent analysis of subject area
  • Well written throughout
  • Ideal for finance students

1 – Introduction
Singapore Banking Industry
Objectives of Research
Scope of Research Objectives
Structure of Dissertation

2 – Literature Review
Intellectual Capital: An Overview
Firm Performance
Balanced Scorecard & proposed model for firm performance
Intellectual Capital and Value Creation
Benefits of Intellectual Capital
Measurement of Intellectual Capital: VAIC Model
Justification of the VAIC Model

3 – Research Methodology
Research Philosophy
Research Approach
Research Strategy
Research Method and Research Hypodissertation
Sampling Procedure
Secondary Data
Model Formulated and Variables Measured
Limitations of the Method

4 – Findings, Analysis and Discussion
Presentation of Results
Analysis of Results
Mean Results
Hypodissertation Testing
Relation between VAIC and performance indicators ROAA & ROAE
Relation between HCE and performance indicators ROAA & ROAE
Relation between SCE and performance indicators ROAA & ROAE
Relation between CEE and performance indicators ROAA & ROAE
Discussion of the Results
Comparison of results with findings of existing Literature

5 – Conclusion and Recommendations
Conclusion on Research findings
Limitations of the Study and how they are tackled
Scope for further research
Final Conclusion



Intellectual Capital Performance Dissertation
Intellectual Capital Performance Dissertation

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