The Effect of Intellectual Capital on Firm Profitability and Efficiency: Evidence from Thai Listed Companies in the Agriculture and Food Industry

This article examines the effect of Intellectual Capital (IC) on performances selected Thai listed companies in Agro and Food industry from 2017 to 2019. The sample consisted 45 with 135 observations spanning three years. Modified Value-Added Coefficient (MVAIC) model was used measuring IC, including capital employed, human capital, structural relational capital. Performance measured using two distinct parameters: profitability efficiency. regression results revealed that MVAIC its components (excluding capital) had a significantly positive impact firm profitability. However, only employed affected study confirms IC efficiency enhances Therefore, managers or policymakers can use monitor assess their assets create business strategies achieve competitive advantage. Furthermore, this might be by investors shareholders make better investment decisions evaluate firm’s market wealth.