Intellectual capital and financial performance of entrepreneurs in the hotel industry

Jasmina Ognjanović; Marko Slavković

doi:10.5937/menhottur2201025O

Authors

Jasmina Ognjanović University of Kragujevac, Faculty of Hotel Management and Tourism in Vrnjačka Banja, Serbia https://orcid.org/0000-0002-6036-5269
Marko Slavković University of Kragujevac, Faculty of Economics, Kragujevac, Serbia https://orcid.org/0000-0002-2604-1228

DOI:

https://doi.org/10.5937/menhottur2201025O

Keywords:

intellectual capital, entrepreneurship, financial performance, hotel industry

Abstract

Intellectual capital is recognized as a key factor in creating value and gaining and maintaining a competitive advantage among service companies. Intellectual capital can be a useful tool for improving the entrepreneurial performance if it is managed properly. The existing literature does not provide enough insight about the role and importance of intellectual capital among entrepreneurs in the hotel industry. The main goal of the paper is to identify the relationship between intellectual capital and financial performance of entrepreneurs in the hotel industry. The descriptive statistics, correlation analysis and multiple regression analysis were applied. Based on the applied statistical methods, it is concluded that intellectual capital has an impact on operating profit and productivity of entrepreneurs in the hotel industry. The results also indicate that human capital had the greatest contribution to improving the financial performance of entrepreneurs in the hotel industry.

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