Title: Ownership structure and intellectual capital: empirical evidence for Jordanian listed firms

Authors: Ghassan H. Mardini; Amneh Alkurdi; Mahmoud M. Karasneh

Addresses: College of Business and Economics Qatar University, Doha, Qatar ' Faculty of Administrative and Financial Sciences, Aqaba University of Technology, Aqaba, Jordan ' College of Business and Economics, Qatar University, Doha, Qatar

Abstract: The main objective of the current study is to examine the impact of ownership structure on intellectual capital (IC) disclosures from a stakeholder theory perspective. The current study employs a disclosure index approach to examine the extent of structural and relational capital disclosures of Jordanian listed firms with data from 2012 to 2018. Ordinary least squares regression models for structural capital, relational capital, and overall IC disclosures are employed. The findings show a negative significant impact of management ownership on relational capital disclosures, a positive impact of foreign ownership on relational and overall IC disclosures, and a positive impact of institutional ownership on all three IC models. Hence, our study suggests that managers are not inclined to provide relational capital disclosures for the benefit of stakeholders. Moreover, it suggests that foreign investors require lower information asymmetry, which leads to measures being taken to enhance IC practices. We believe that our study adds knowledge to the current IC literature since it provides empirical evidence concerning knowledge-based IC disclosures in emerging markets such as Jordan.

Keywords: intellectual capital; ownership structure; Jordan; developing countries; emerging markets.

DOI: 10.1504/IJLIC.2022.122581

International Journal of Learning and Intellectual Capital, 2022 Vol.19 No.3, pp.217 - 235

Received: 27 Jan 2021
Accepted: 27 Apr 2021
Published online: 03 May 2022 *

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