The Intellectual Capital Performance of Polish Banks: An Application of VAIC™ Model

In the knowledge based economy intangible resources are the primary value drivers. This is particularly true of companies such as banks. However, intangible resources (also called Intellectual Capital) appear difficult to measure. Today, there are several methods that allow us to measure Intellectual Capital in listed companies. However, not all methods of measurement are adequate for listed banks. This paper uses the Value Added Intellectual Coefficient™ (VAIC™) ratio to measure the Intellectual Capital efficiency of the Polish listed banks using a five years period data set from 2005 to 2009. Three value efficiency indicators, Human Capital Efficiency (HCE), Capital Employed Efficiency (CEE) and Structural Capital Efficiency (SCE) which are the components of the VAIC™ ratio, were used in the analysis. The data set was divided into two groups of banks. The first group was that of 10 listed Polish banks and the second group was comprised of 10 listed comparable banks from Europe (which was the peer group). The results of the rankings of the banks for the average of five years (2005-2009) showed that for VAIC™ the top two performers in the study were Komercni Banka and BRD Groupe Societe Generale S.A. The BCGE - Banque Cantonale de Geneve, Bankas Snoras and BOŚ Bank were the worst performers. The results of ranking based on Human Capital Efficiency (HCE), showed similar results as that of VAIC™. There was observed a significant decrease of the VAIC™ ratio in the years 2008 and 2009 which was caused by the crisis on financial markets. The results extend the understanding of Intellectual Capital’s role in creation of sustainable advantages for banks in developing economies

Accounting graduates’ perceptions of skills emphasis in undergraduate courses: an investigation from two Victorian universities

This study investigated the emphasis placed on technical and generic skills developed during undergraduate accounting courses from the graduate perspective. It is motivated by two issues. First, calls by the accounting profession and international education committees regarding the professional adequacy of graduates. Second, the challenge facing educators and professional bodies to design accounting courses that address a diverse range of needs from students, the educational philosophy of the institution, and the changing dynamics of global business. Data obtained from 310 graduates from two Victorian universities provided insights into the types of skills development considered necessary for a successful accounting career