The value relevance of brand equity, intellectual capital and intellectual capital management capability

Building upon the marketing literature of brand equity (BA), marketing-finance interface, strategy literature regarding intellectual capital (IC), and resource-based theories, this research develops a conceptual framework which links various assets, capabilities and firm value. This research studies three types of market-based assets and capability: BA, IC and intellectual capital management capability (ICMC). Various statistical techniques were used to measure the constructs in the research model, such as data envelopment analysis, structural equation modeling and factor explanatory financial model. Stock return response modeling was used to test the research hypotheses. On the basis of a sample of US semiconductor companies, this study shows that IC and ICMC capability are associated with firm value. The findings offer a variety of theoretical contributions to marketing-finance interface research stream, and provide actionable insights on management resource-allocation decisions.