Determinants and Consequences of Intellectual Capital Efficiency in the U.S. Banking Industry

摘要

This study investigates the determinants andconsequences of intellectual capital efficiency in the U.S. banking industry.We find that banks’ individual institutional memory of bad times reduces theirintellectual capital efficiency. We also find that intellectual capitalefficiency restricts banks’ risk-taking behaviors and enhances their accountingconservatism. Finally, we find that intellectual capital efficiency helps banksattract more wholesale funding deposits. In addition, we test the impact ofthree components of intellectual capital efficiency on bank accountingconservatism, and find that both human capital efficiency and relationalcapital efficiency significantly impact on bank accounting conservatism.