Analysis of competitiveness through intellectual capital in companies listed on the Mexican Stock Exchange
Palabras clave:
competitiveness, intellectual capital, companies, BMV
Resumen
The objective of this research is to analyze intellectual capital as a tool for creating value in Mexican companies that seek to be more competitive in the market, analyzing their disclosure of intangible matters, as well as the factors that motivate said disclosure. To carry out the analysis, companies from different sectors that are listed on the Mexican Stock Exchange (BMV) were selected. The selection was based on criteria of representativeness and availability of detailed financial and operational data. A quantitative methodology was used, applying multiple regression techniques and factor analysis to measure the influence of intellectual capital variables on competitiveness. The analysis revealed that intellectual capital has a significant impact on the competitiveness of companies listed on the BMV. These findings indicate that a comprehensive and balanced management of the different components of intellectual capital is crucial to improve business competitiveness. The study concludes that companies listed on the BMV should focus on strengthening their intellectual capital to improve their competitiveness to maximize their performance in the market.
Citas
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Bontis, N. (1998). Intellectual capital: an exploratory study that develops measures and models. Management Decision, 36(2), 63–76. https://doi.org/10.1108/00251749810204142
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Calvo, M. A., & Ponce, N. G. (2020). Competitividad empresarial: una revisión teórica. https://www.researchgate.net/publication/341526739_Competitividad_empresarial_una_revision_teorica
Camisón, C., Palacios, D., & Devece, C. (2000). Un nuevo modelo para la medición de Capital Intelectual en la empresa: El modelo NOVA. X Congreso Nacional ACEDE, 3–5. http://www.redalyc.org/articulo.oa?id=274120280005
Cañibano, L., Sánchez, P., García-Ayuso, M. Y Chaminade, C. (2002). MERITUM Project. Guidelines for Managing and Reporting on Intangibles. (Intellectual Capital Report), Vodafone Foundation, Madrid.
Caves, R. E. (1996). Multinational Enterprise and Economic Analysis. Cambridge University Press.
Caves, R. E. (1980). Industrial Organization, Corporate Strategy, and Structure. Journal of Economic Literature, 18(1), 64-92.
Cabrita, M. D. R., & Bontis, N. (2008). Intellectual capital and business performance in the Portuguese banking industry. International Journal of Technology Management, 43(1-3), 212-237. https://doi.org/10.1504/IJTM.2008.019416
Chen, M. C., Cheng, S. J., & Hwang, Y. (2005). An empirical investigation of the relationship between intellectual capital and firms’ market value and financial performance. Journal of Intellectual Capital, 6(2), 159-176. https://doi.org/10.1108/14691930510592771
Delgado, J. C., Porter, M. E., & Stern, S. (2002). The Determinants of National Innovative Capacity. Research Policy, 31(6), 899–933. https://doi.org/10.1016/S0048-7333(01)00152-4
Delgado, M., Porter, M. E., & Stern, S. (2010). Clusters and Entrepreneurship. Journal of Economic Geography, 10(4), 495-518. https://doi.org/10.1093/jeg/lbq010
Delgado, M., Porter, M. E., & Stern, S. (2014). Clusters, Convergence, and Economic Performance. Research Policy, 43(10), 1785-1799. https://doi.org/10.1016/j.respol.2014.05.007
Dierickx, I., & Cool, K. (1989). Asset Stock Accumulation and the Sustainability of Competitive Advantage: Reply. Management Science, 35(12), 1514–1514. https://doi.org/10.1287/mnsc.35.12.1514
Dunning, J. H. (1993). Multinational Enterprises and the Global Economy. Addison-Wesley.
Dunning, J. H., & McQueen, M. (1982). The eclectic theory of the multinational enterprise and the international hotel industry. In A. M. Rugman (Ed.), New theories of the multinational enterprise. Croom Hlem.
Euroforum. (1998). Medición del capital intelectual: modelo Intelect, Instituto Universitario Euroforum Escorial, Madrid.
García, E., & Hidalgo, R. L. (2009). Divulgación de información sobre el capital intelectual de empresas nacionales que cotizan en la Bolsa Mexicana de Valores. Contaduría y Administración, 229, 105–131. https://doi.org/10.22201/fca.24488410e.2009.658
Gogan, L. M., Artene, A., Sarca, I., & Draghici, A. (2016). The impact of intellectual capital on organizational performance. Procedia - Social and Behavioral Sciences, 221, 194-202. https://doi.org/10.1016/j.sbspro.2016.05.106
Ibarra, M. A., González, L. A., & Demuner, M. del R. (2017). Competitividad empresarial de las pequeñas y medianas empresas manufactureras de Baja California. Estudios Fronterizos, 18(35), 107–130. https://doi.org/10.21670/ref.2017.35.a06
Krugman, P. (1994). Competitiveness: A Dangerous Obsession. Foreign Affairs (Vol. 73, Issue 2, pp. 28–44). Economics, Political Science. https://doi.org/ 10.2307/20045917
López, V. R., & Nevado, D. (2021). Análisis integral como sistema de medición y gestión de capitales intangibles en organizaciones y territorios. Studies of Applied Economics, 26(2), 119–138. https://doi.org/10.25115/eea.v26i2.5545
Moon, Y. W., Rhee, M., & Montemayor, M. (1998). Toward a “Strategy-Oriented” Measurement of IS/IT Resources. Decision Sciences, 29(3), 689–718.
Moon, H. C., & Montemayor, E. F. (2004). Towards a dynamic theory of competitiveness: A study of the American, Japanese and Korean firm experiences. Competitiveness Review: An International Business Journal, 14(1/2), 1-20.
Palomo, M. Á., & Pedroza, Á. R. (2018). La competitividad Empresarial: El desarrollo tecnológico, 1, 1–14. https://acacia.org.mx/wp-content/uploads/2018/06/La-Competitividad-Empresarial-El%20Desarrollo-Tecnologico-Jun2018.pdf
Peña G., A. (2020). La medición de los instrumentos financieros de activo: Algunos aspectos relevantes a partir de las Normas Internacionales de Información Financiera. Actualidad Contable FACES, 2(41), 103-127. http://erevistas.saber.ula.ve/index.php/actualidadcontable/article/view/16505
Petter, S., De Lone, W. and McLean, E.R. (2013) Information Systems Success: The Quest for the Independent Variables. Journal of Management Information Systems, 29, 7-62.
http://dx.doi.org/10.2753/MIS0742-1222290401
Porter, M. E., & van der Linde, C. (1995). Toward a New Conception of the Environment-Competitiveness Relationship. Journal of Economic Perspectives, 9(4), 97–118. http://www.jstor.org/stable/2138392
Porter, M. y Millar, V. (1985). How information gives you competitive advantage. Harvard Business Review, 63(4), 149–165. https://hbr.org/1985/07/how-information-gives-you-competitive-advantage
Roos, J. (1998). Intellectual Capital-Navigating in the New Business Landscape. Business Process Management Journal, 4(1), 85–88. https://doi.org/10.1108/bpmj.1998.4.1.85.1
Rugman, A. M. (1985). The New Theory of Multinational Enterprises: An Assessment of Internalization Theory. Bulletin of Economic Research, 37(2), 101.118.
Saint-Onge, H. (1996). Tacit knowledge the key to the strategic alignment of intellectual capital. Planning Review, 24(2), 10–16. https://doi.org/10.1108/eb054547
Santiago, J. (2022). Bolsa mexicana gana 20.89% en el 2021; su mejor rendimiento desde 2009. El Economista.
Teece, D. J. (1986). Profiting from Technological Innovation: Implications for Integration, Collaboration, Licensing and Public Policy. Research Policy, 15(6), 285–305. https://doi.org/10.1016/0048-7333(86)90027-2
Teece, D. J. (2007). Explicating dynamic capabilities: the nature and microfoundations of (sustainable) enterprise performance. Strategic Management Journal, 28(13), 1319–1350. https://doi.org/10.1002/smj.640
Valenzuela-Durán, E. (2009). Capital intelectual en empresas con alta presencia bursátil en chile: su importancia y gestión. In Facultad de Ciencias Económicas y Empresariales (Issue 1). Universidad Autónoma de Madrid.
Valores, B. M. de. (2021). Bolsa Mexicana de Valores. https://www.bmv.com.mx/es/grupo-bmv/acerca-de
Vega, V. (2017). Una mirada al concepto de Capital Intelectual. Revista Uniandes Episteme, 4(4), 491–503. https://revista.uniandes.edu.ec/ojs/index.php/EPISTEME/article/view/825
Womack, J.P., Jones, D.T. y Roos, D. (2021). The impact of COVID-19 on the hotel supply chain management. Hotel and Tourism Management, 9(2), 63–78. https://www.htmanagementvb.com/index.php/HITM/article/view/212/268
Archibold, W., & Escobar, A. (2015). Capital Intelectual y Gestión Del Conocimiento En Las Contralorías Territoriales Del Departamento Del Atlántico. Dimensión Empresarial, 13(1), 133–146. https://doi.org/10.15665/rde.v13i1.342
Barney, J. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99–120. https://doi.org/10.1177/014920639101700108
Barrera, L., Salazar, J. R., & Sabido, T. de J. (2020). El capital intelectual y sus repercusiones en la pandemia del covid-19. VIII Congreso Virtual Internacional Transformación e Innovación En Las Organizaciones, diciembre, 413–425. https://www.eumed.net/actas/20/trans-organizaciones/27-el-capital-intelectual-y-sus-repercusiones-en-la-pandemia.pdf
Bontis, N. (1998). Intellectual capital: an exploratory study that develops measures and models. Management Decision, 36(2), 63–76. https://doi.org/10.1108/00251749810204142
Bueno, E., Del Real, H., Longo, M., Murcia, C., Fernandez, P., Merino, C., & Salmador, M. P. (2011). Modelo Intellectus: Medición y Gestión del Capital Intelectual Hermógenes del Real. Centro de Investigación Sobre La Sociedad Del Conocimiento (CIC), Serie Documentos Intellectus (November). https://www.researchgate.net/publication/298346530_Modelo_Intellectus_Medicion_y_Gestion_del_Capital_Intelectual
Cabrita, M. D. R., & Bontis, N. (2008). Intellectual capital and business performance in the Portuguese banking industry. International Journal of Technology Management, 43(1-3), 212-237. https://doi.org/10.1504/IJTM.2008.019416
Calvo, M. A., & Ponce, N. G. (2020). Competitividad empresarial: una revisión teórica. https://www.researchgate.net/publication/341526739_Competitividad_empresarial_una_revision_teorica
Camisón, C., Palacios, D., & Devece, C. (2000). Un nuevo modelo para la medición de Capital Intelectual en la empresa: El modelo NOVA. X Congreso Nacional ACEDE, 3–5. http://www.redalyc.org/articulo.oa?id=274120280005
Cañibano, L., Sánchez, P., García-Ayuso, M. Y Chaminade, C. (2002). MERITUM Project. Guidelines for Managing and Reporting on Intangibles. (Intellectual Capital Report), Vodafone Foundation, Madrid.
Caves, R. E. (1996). Multinational Enterprise and Economic Analysis. Cambridge University Press.
Caves, R. E. (1980). Industrial Organization, Corporate Strategy, and Structure. Journal of Economic Literature, 18(1), 64-92.
Cabrita, M. D. R., & Bontis, N. (2008). Intellectual capital and business performance in the Portuguese banking industry. International Journal of Technology Management, 43(1-3), 212-237. https://doi.org/10.1504/IJTM.2008.019416
Chen, M. C., Cheng, S. J., & Hwang, Y. (2005). An empirical investigation of the relationship between intellectual capital and firms’ market value and financial performance. Journal of Intellectual Capital, 6(2), 159-176. https://doi.org/10.1108/14691930510592771
Delgado, J. C., Porter, M. E., & Stern, S. (2002). The Determinants of National Innovative Capacity. Research Policy, 31(6), 899–933. https://doi.org/10.1016/S0048-7333(01)00152-4
Delgado, M., Porter, M. E., & Stern, S. (2010). Clusters and Entrepreneurship. Journal of Economic Geography, 10(4), 495-518. https://doi.org/10.1093/jeg/lbq010
Delgado, M., Porter, M. E., & Stern, S. (2014). Clusters, Convergence, and Economic Performance. Research Policy, 43(10), 1785-1799. https://doi.org/10.1016/j.respol.2014.05.007
Dierickx, I., & Cool, K. (1989). Asset Stock Accumulation and the Sustainability of Competitive Advantage: Reply. Management Science, 35(12), 1514–1514. https://doi.org/10.1287/mnsc.35.12.1514
Dunning, J. H. (1993). Multinational Enterprises and the Global Economy. Addison-Wesley.
Dunning, J. H., & McQueen, M. (1982). The eclectic theory of the multinational enterprise and the international hotel industry. In A. M. Rugman (Ed.), New theories of the multinational enterprise. Croom Hlem.
Euroforum. (1998). Medición del capital intelectual: modelo Intelect, Instituto Universitario Euroforum Escorial, Madrid.
García, E., & Hidalgo, R. L. (2009). Divulgación de información sobre el capital intelectual de empresas nacionales que cotizan en la Bolsa Mexicana de Valores. Contaduría y Administración, 229, 105–131. https://doi.org/10.22201/fca.24488410e.2009.658
Gogan, L. M., Artene, A., Sarca, I., & Draghici, A. (2016). The impact of intellectual capital on organizational performance. Procedia - Social and Behavioral Sciences, 221, 194-202. https://doi.org/10.1016/j.sbspro.2016.05.106
Ibarra, M. A., González, L. A., & Demuner, M. del R. (2017). Competitividad empresarial de las pequeñas y medianas empresas manufactureras de Baja California. Estudios Fronterizos, 18(35), 107–130. https://doi.org/10.21670/ref.2017.35.a06
Krugman, P. (1994). Competitiveness: A Dangerous Obsession. Foreign Affairs (Vol. 73, Issue 2, pp. 28–44). Economics, Political Science. https://doi.org/ 10.2307/20045917
López, V. R., & Nevado, D. (2021). Análisis integral como sistema de medición y gestión de capitales intangibles en organizaciones y territorios. Studies of Applied Economics, 26(2), 119–138. https://doi.org/10.25115/eea.v26i2.5545
Moon, Y. W., Rhee, M., & Montemayor, M. (1998). Toward a “Strategy-Oriented” Measurement of IS/IT Resources. Decision Sciences, 29(3), 689–718.
Moon, H. C., & Montemayor, E. F. (2004). Towards a dynamic theory of competitiveness: A study of the American, Japanese and Korean firm experiences. Competitiveness Review: An International Business Journal, 14(1/2), 1-20.
Palomo, M. Á., & Pedroza, Á. R. (2018). La competitividad Empresarial: El desarrollo tecnológico, 1, 1–14. https://acacia.org.mx/wp-content/uploads/2018/06/La-Competitividad-Empresarial-El%20Desarrollo-Tecnologico-Jun2018.pdf
Peña G., A. (2020). La medición de los instrumentos financieros de activo: Algunos aspectos relevantes a partir de las Normas Internacionales de Información Financiera. Actualidad Contable FACES, 2(41), 103-127. http://erevistas.saber.ula.ve/index.php/actualidadcontable/article/view/16505
Petter, S., De Lone, W. and McLean, E.R. (2013) Information Systems Success: The Quest for the Independent Variables. Journal of Management Information Systems, 29, 7-62.
http://dx.doi.org/10.2753/MIS0742-1222290401
Porter, M. E., & van der Linde, C. (1995). Toward a New Conception of the Environment-Competitiveness Relationship. Journal of Economic Perspectives, 9(4), 97–118. http://www.jstor.org/stable/2138392
Porter, M. y Millar, V. (1985). How information gives you competitive advantage. Harvard Business Review, 63(4), 149–165. https://hbr.org/1985/07/how-information-gives-you-competitive-advantage
Roos, J. (1998). Intellectual Capital-Navigating in the New Business Landscape. Business Process Management Journal, 4(1), 85–88. https://doi.org/10.1108/bpmj.1998.4.1.85.1
Rugman, A. M. (1985). The New Theory of Multinational Enterprises: An Assessment of Internalization Theory. Bulletin of Economic Research, 37(2), 101.118.
Saint-Onge, H. (1996). Tacit knowledge the key to the strategic alignment of intellectual capital. Planning Review, 24(2), 10–16. https://doi.org/10.1108/eb054547
Santiago, J. (2022). Bolsa mexicana gana 20.89% en el 2021; su mejor rendimiento desde 2009. El Economista.
Teece, D. J. (1986). Profiting from Technological Innovation: Implications for Integration, Collaboration, Licensing and Public Policy. Research Policy, 15(6), 285–305. https://doi.org/10.1016/0048-7333(86)90027-2
Teece, D. J. (2007). Explicating dynamic capabilities: the nature and microfoundations of (sustainable) enterprise performance. Strategic Management Journal, 28(13), 1319–1350. https://doi.org/10.1002/smj.640
Valenzuela-Durán, E. (2009). Capital intelectual en empresas con alta presencia bursátil en chile: su importancia y gestión. In Facultad de Ciencias Económicas y Empresariales (Issue 1). Universidad Autónoma de Madrid.
Valores, B. M. de. (2021). Bolsa Mexicana de Valores. https://www.bmv.com.mx/es/grupo-bmv/acerca-de
Vega, V. (2017). Una mirada al concepto de Capital Intelectual. Revista Uniandes Episteme, 4(4), 491–503. https://revista.uniandes.edu.ec/ojs/index.php/EPISTEME/article/view/825
Womack, J.P., Jones, D.T. y Roos, D. (2021). The impact of COVID-19 on the hotel supply chain management. Hotel and Tourism Management, 9(2), 63–78. https://www.htmanagementvb.com/index.php/HITM/article/view/212/268
Publicado
2024-12-16
Cómo citar
Campa Dominguez, I., Béjar Tinoco, V., Madrigal Moreno, F., & Madrigal Moreno, S. (2024). Analysis of competitiveness through intellectual capital in companies listed on the Mexican Stock Exchange. Revista Venezolana De Gerencia, 29(12), 1752-1771. https://doi.org/10.52080/rvgluz.29.e12.53
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