Main Article Content


This study aims to explore, at an empirical level, the relationship between Intellectual Capital (IC) and Knowledge Management Dynamic Capabilities (KMDC) as well as the role of Knowledge Intensity (KI) in this relationship. A quantitative methodology with a descriptive and correlational scope was employed using contingency tables, an adjusted standardized residual test, Mann-Whitney test, and a variance-based structural equation model with a sample of 135 organizations in Colombia. The results show a positive relationship between IC and KMDC. Moreover, significant differences were found between firms with high and low KI, suggesting a mediating effect of KI. This research contributes to expanding the literature on understanding the relationship between IC and KMDC. Managers are also suggested to both acknowledge the relevance of IC and prioritize investment in it, promoting the development of KMDC and therefore the creation of competitive advantages.

Claudia Inés Sepúlveda-Rivillas, Universidad de Antioquia

Professor, Department of Administrative Sciences, Faculty of Economic Sciences, Universidad de Antioquia, Medellín, Colombia. BA in Business Management, Universidad de Antioquia, Colombia, Doctor in Business Management, Universidad de Valencia, Spain.


Carlos Gilberto Restrepo-Ramírez, Universidad de Antioquia

Professor, Department of Administrative Sciences, Faculty of Economic Sciences, Universidad de Antioquia
Medellín, Colombia. Production Engineer, MBA, Universidad Eafit, Colombia.

Juan Daniel Vélez Jaramillo, Universidad de Antioquia

Young researcher, Department of Administrative Sciences, Faculty of Economic Sciences, Universidad de Antioquia, Colombia.

Sepúlveda-Rivillas, C. I., Restrepo-Ramírez, C. G., & Vélez Jaramillo, J. D. (2022). Intellectual Capital and Knowledge Management Dynamic Capabilities: The role of Knowledge Intensity. Cuadernos De Administración, 38(72), e2211248.

Acosta Prado, J. C., Longo-Somoza, M., y Fischer, A. L. (2013). Capacidades dinámicas y gestión del conocimiento en nuevas empresas de base tecnológica. Cuadernos de Administracion, 26(47), 35-62.

Alama Salazar, E., Martín de Castro, G., y López Sáez, P. (2006). Capital intelectual. Una propuesta para clasificarlo y medirlo. Academia. Revista Latinoamericana de Administración, 37, 1-16.

Alegre, J., Sengupta, K., & Lapiedra, R. (2013). Knowledge management and innovation performance in a high-tech SMEs industry. International Small Business Journal, 31(4), 454-470.

Alves, H., Cepeda-Carrion, I., Ortega-Gutierrez, J., & Edvardsson, B. (2020). The role of intellectual capital in fostering SD-Orientation and firm performance. Journal of Intellectual Capital, 22(1), 57-75.

Ambrosini, V. & Bowman, C. (2009). What are dynamic capabilities and are they a useful construct in strategic management? International Journal of Management Reviews, 11(1), 29-49.

Andreeva, T. & Kianto, A. (2011). Knowledge processes, knowledge-intensity and innovation: A moderated mediation analysis. Journal of Knowledge Management, 15(6), 1016-1034.

Asiaei, K., Barani, O., Bontis, N., & Arabahmadi, M. (2020). Unpacking the black box: How intrapreneurship intervenes in the intellectual capital-performance relationship? Journal of Intellectual Capital, 21(6), 809-834.

Autio, E., Sapienza, H., & Almeida, J. (2000). Effects of Age at Entry, Knowledge Intensity, and Imitability on International Growth. The Academy of Management Journal, 43(5), 909-924.

Barkat, W. & Beh, L.-S. (2018). Impact of Intellectual Capital on Organizational Performance: Evidence from a developing country. Academy of Strategic Management Journal, 17(2), 1-9.

Barney, J. B. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Composite Materials, 17(1), 99-120.

Bontis, N. (1998). Intellectual capital: an exploratory study that develops measures and models. Management Decision, 36(2), 63-76.

Bontis, N., Ciambotti, M., Palazzi, F., & Sgro, F. (2018). Intellectual capital and financial performance in social cooperative enterprises. Journal of Intellectual Capital, 19(4), 712-731.

Brooking, A. (1996). Intellectual capital: core asset for the third millennium enterprise. Cengage Learning EMEA.

Brooking, A. (1997). The management of intellectual capital. Long Range Planning, 30(3), 364-365.

Cepeda, G. & Vera, D. (2007). Dynamic capabilities and operational capabilities: A knowledge management perspective. Journal of Business Research, 60, 426-437.

Corvino, A., Caputo, F., Pironti, M., Doni, F., & Bianchi Martini, S. (2019). The moderating effect of firm size on relational capital and firm performance: Evidence from Europe. Journal of Intellectual Capital, 20(4), 510-532.

Dadashinasab, M. & Sofian, S. (2014). The Impact of Intellectual Capital on Firm Financial Performance by Moderating of Dynamic Capability. Asian Social Science, 10(17), 93-101.

de Medeiros, S. A., Magalhães Christino, J. M., Gonçalves, C. A., & Gonçalves, M. A. (2020). Relationships among dynamic capabilities dimensions in building competitive advantage: A conceptual model. Gestao e Producao, 27(1), 1-15.

De Meulenaere, K., De Winne, S., Marescaux, E., & Vanormelingen, S. (2021). The Role of Firm Size and Knowledge Intensity in the Performance Effects of Collective Turnover. Journal of Management, 47(4), 993-1023.

Dzenopoljac, V., Yaacoub, C., Elkanj, N., & Bontis, N. (2017). Impact of intellectual capital on corporate performance: evidence from the Arab region. Journal of Intellectual Capital, 18(4), 884-903.

Easterby-Smith, M. & Prieto, I. M. (2008). Dynamic capabilities and knowledge management: An integrative role for learning? British Journal of Management, 19, 235-249.

Edvinsson, L. & Malone, M. (1998a). Capital intelectual: descobrindo o valor real de sua empresa pela identificação de seus valores internos. Makron Books.

Edvinsson, L. & Malone, M. (1998b). El capital intelectual: cómo identificar y calcular el valor inexplorado de los recursos intangibles de su empresa. Editorial Norma.

Edvinsson, L. & Sullivan, P. (1996). Developing a model for managing intellectual capital. European Management Journal, 14(4), 356-364.

Eisenhardt, K. M. & Santos, F. M. (2002). Knowledge-based view: A new theory of strategy. Handbook of Strategy and Management, 1(1), 139-164.

Eisenhardt, K. M. & Martin, J. A. (2000). Dynamic capabilities : What are they ? Strategic Management Journal, 21, 1105-1121.;2-E

Gan, K. & Saleh, Z. (2008). Intellectual capital and corporate performance of technology-intensive companies: Malaysia evidence. Asian Journal of Business and Accounting, 1(1), 113-130.

Garcia-Parra, M. (2004). Los elementos integrantes de la nueva riqueza de la empresa. Intangible Capital, 0(1), 1–22.

González, P. (2015). Propuesta de un modelo para medir activos intangibles en empresas de software a partir de una herramienta multicriterio. Estudios Gerenciales, 31, 191-201.

Gonzalez, R. V. D. & Melo, T. M. (2017). Linkage between dynamics capability and knowledge management factors. Management Decision, 55(10), 2256-2276.

Grant, R. M. (1996). Toward a knoweldge-based theory of the firm. Strategic Management Journal, 17(Winter special issue), 109-122.

Haarhaus, T. & Liening, A. (2020). Building dynamic capabilities to cope with environmental uncertainty: The role of strategic foresight. Technological Forecasting and Social Change, 155(September 2019), 120033.

Hair Jr., Joseph F., Anderson, R. E., Balbin, B., & Black, W. C. (2010). Multivariate data analysis: A global perspective (Vol. 7). Pearson Upper Saddle River.

Hair Jr, J., Hult, G. T., Ringle, C., & Sarstedt, M. (2017). A Primer on Partial Least Squares Structural Equation Modeling (PLS-SEM) (2nd). Sage.

Han, Y. & Li, D. (2015). Effects of intellectual capital on innovative performance: The role of knowledge-based dynamic capability. Management Decision, 53(1), 40-56.

Henseler, J., Hubona, G., & Ray, P. A. (2016). Using PLS path modeling in new technology research: Updated guidelines. Industrial Management and Data Systems, 116(1), 2-20.

Hernández S., R., Fernández C., C., & Baptista L., P. (2010). Metodología de la Investigación (5a edi.). Mc Graw Hill.

Hitt, M. A., Biermant, L., Shimizu, K., & Kochhar, R. (2001). Direct and Moderating Effects of Human Capital on Strategy and Performance in Professional Service Firms: A Resource-Based Perspective. Academy of Management Journal, 44(1), 13-28.

Hsu, I.-C. & Sabherwal, R. (2012). Relationship between Intellectual Capital and Knowledge Management: An Empirical Investigation. Decision Sciences, 43(3), 489-524.

Hsu, L.-C. & Wang, C.-H. (2012). Clarifying the Effect of Intellectual Capital on Performance: The Mediating Role of Dynamic Capability. British Journal of Management, 23, 179-205.

Khalique, M., Bontis, N., Bin Shaari, J. A. N., Yaacob, M. R., & Ngah, R. (2018). Intellectual capital and organisational performance in Malaysian knowledge-intensive SMEs. International Journal of Learning and Intellectual Capital, 15(1), 20-36.

Lev, B. (2000). Intangibles: Management, measurement, and reporting. Brookings Institution Press.

Lev, B., & Daum, J. H. (2004). The dominance of intangible assets: consequences for enterprise management and corporate reporting. Measuring Business Excellence, 8(1), 6-17.

Lin, Y. & Wu, L.-Y. (2014). Exploring the role of dynamic capabilities in firm performance under the resource-based view framework. Journal of Business Research, 67(3), 407-413.

Makadok, R. (2001). Toward a Synthesis of the Resource-Based and Dynamic-Capability Views of Rent Creation. Strategic Management Journal, 22(5), 387-401.

Murcia, C. & Campos, E. (6-7 April, 2017). Intellectual Capital as Strategy to Develop Dynamic SMEs. A Proposal Model for Colombian SMEs (pp. 379–386). In 9th European Conference on Intellectual Capital. ISCTE-IUL, Portugal.

Nelson, R. R. & Winter, S. G. (1982). An Evolutionary Theory of Economic Change. SSRN.

Nevado Peña, D. & López Ruiz, V. R. (2002). El capital intelectual: valoración y medición. Prentice Hall.

Newbert, S. (2013). Empirical Research on the resource-based view of the firm: An assessment and suggestions for future research. Strategic Management Journal, 28, 121-146.

Nieves, J. & Haller, S. (2014). Building dynamic capabilities through knowledge resources. Tourism Management, 40, 224-232.

OCDE. (2006). Intellectual Assets and Value Creation: Implications for Corporate Reporting. OCDE.

OCDE. (2008). Intellectual Assets and Value Creation Synthesis Report. 35.

Ordóñez De Pablos, P. (2003). Intellectual capital reporting in Spain: a comparative view. Journal of Intellectual Capital, 4(1), 61-81.

Ordoñez, P. (2004). El capital estructural organizativo como fuente de competitividad empresarial: un estudio de indicadores. Economía Industrial, 357(1), 131-140.

Patterson, W. & Ambrosini, V. (2015). Configuring absorptive capacity as a key process for research intensive firms. Technovation, 36(37), 77-89.

Penrose, E. T. (1959). The theory of the growth of the firm. Oxford Scholarship Online. DOI:10.1093/0198289774.001.0001

Peteraf, M. A. (1993). The cornerstones of competitive advantage: A resource-based view. Strategic Management Journal, 14(3), 179-191.

Prahalad, C. K. & Hamel, G. (1990). The Core Competence of the Corporation. Springer.

Roos, G. & Roos, J. (1997). Measuring your company’s intellectual performance. Long Range Planning, 30(3), 413-426.

Roos, J. (1998). Exploring the concept of intellectual capital (IC). Long Range Planning, 31(1), 150-153.

Salvato, C. & Vassolo, R. (2017). The sources of dynamism in dynamic capabilities. Strategic Management Journal. Strategic Management Journal, 39(6), 1728-1752.

Salvi, A., Vitolla, F., Giakoumelou, A., Raimo, N., & Rubino, M. (2020). Intellectual capital disclosure in integrated reports: The effect on firm value. Technological Forecasting and Social Change, 160.

Singh, B. & Rao, M. K. (2016). Effect of intellectual capital on dynamic capabilities. Journal of Organizational Change Management, 29(2), 129-149.

Stewart, T. A. (1991). Brainpower: how intellectual capital is becoming America’s most valuable asset. Fortune, 123(11), 44–60.

Stewart, T. A. (2007). The wealth of knowledge: Intellectual capital and the twenty-first century organization. Crown Business.

Subramaniam, M. & Youndt, M. (2005). The Influence of Intellectual Capital on the types of Innovative Capabilities. Academy of Management Journal, 48(3), 450-463.

Tallman, S., Jenkins, M., Henry, N., & Pinch, S. (2004). Knowledge, Clusters, and Competitive Advantage. Academy of Management Review, 29(2), 258-271.

Teece, D. J., Pisano, G., & Shuen, A. (1997). Dynamic Capabilities and Strategic Management. Strategic Management Journal, 18(7), 509-533.;2-Z

Teece, D. J. (1998). Capturing Value from Knowledge Assets: the new economy, markets for know-how and intangible assets. California Management Review, 40(3), 55-79.

Teece, D. J. (2007). Explicating Dynamic Capabilities: The nature an microfoundations of (sustainable) enterprise performance. Strategic Management Journal, 28, 1319-1350.

Teece, D. J. (2018). Dynamic capabilities as (workable) management systems theory. Journal of Management and Organization, 24(3), 359-368.

Viedma, J. M. (2007). In Search of an Intellectual Capital Comprehensive Theory. The Electronic Journal of Knowledge Management, 5(2), 245-256.

Viloria, G., Nevado, D., y López, V. R. (2008). Medición y valoración del capital intelectual. EOI Esc.Organiz.Industrial.

Wang, Z., Wang, N., Cao, J., & Ye, X. (2016). The impact of intellectual capital–knowledge management strategy fit on firm performance. Management Decision, 54(8).

Wernerfelt, B. (1984). A Resource-based View of the Firm. Strategic Management Journal, 5, 171-180.

Wheelwright, S. C. & Clark, K. B. (1988). Dynamic manufacturing: creating the learning organization. Simon and Schuster.

Wu, L. (2010). Applicability of the resource-based and dynamic-capability views under environmental volatility. Journal of Business Research, 63(1), 27-31.

Wu, S-H., Lin, L-Y., & Hsu, M-Y. (2007). Intellectual capital, dynamic capabilities and innovative performance of organisations. International Journal of Technology Management, 39(3-4), 279-296.

Yli-Renko, H., Autio, E., & Tontti, V. (2002). Social capital, knowledge, and the international growth of technology-based new firms. International Business Review, 11, 279-304.

Youndt, M. & Snell, S. (2004). Human Resource Configurations, Intellectual Capital, and Organizational Performance. Journal of Managerial Issues, 16(3), 337-360.

Zahra, S. A. & George, G. (2002). Absorptive Capacity: A Review, Reconceptualization and Extension. Academy of Management Perspectives, 27(2), 185-203.

Zollo, M. & Winter, S. (2002). Deliberate learning and the evolution of dynamic capabilities. Organization Science, 13(3), 339-351.

Zwaid, Z. H., Mohammed, J. H., & Saleh, S. M. (2018). The Effect of Intellectual Capital on Achieving Competitive Advantage. Iraqi Administrative Sciences Journal, 2(1), 207-222.

Received 2021-04-30
Accepted 2022-03-16
Published 2022-01-27