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This paper aims to posit the Value-Added Intellectual Coefficient (VAIC) as a tool to measure the added value created from the productive efficiency of intellectual capital in large agroindustrial companies in the department of Magdalena, Colombia. To this end, value-added statements were prepared. Then, VAIC methodology-proposed indexes were determined, and finally, the association hypotheses and significant relationship between the VAIC and financial indicators were confirmed. Based on the validation of hypotheses, estimators, multiple linear regression analysis, and panel data, per the empirical results, most of the analyzed companies scored well in terms of value-added creation. Likewise, the VAIC’s solid explanatory capacity of human capital efficiency was validated concerning the values obtained in operating profit. This result confirms the assumptions of the theory of resources and capabilities.

Jairo Alberto Olarte Cabana, Fundación Universitaria Compensar

Full-time Professor, Faculty of Accounting and International Finance, Fundación Universitaria Compensar Cali, Colombia. Public Accountant, Universidad Cooperativa de Colombia, Santa Marta Campus, Master’s Degree in Accounting, Universidad del Valle, Cali, Colombia.

Patricia González González, Universidad del Valle

Tenured Professor, Department of Accounting and Finance, Faculty of Management Sciences, Universidad del Valle, Cali, Colombia. Public Accountant, Universidad Libre de Colombia, Colombia, Doctor in Accounting and Comptrollership, Universidad de Sao Paulo, Brazil, Postdoctoral Fellowship, University of Illinois, USA.

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Received 2022-01-29
Accepted 2023-02-01
Published 2022-09-08