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INTELLECTUAL CAPITAL MANAGEMENT IN TIMES OF TURBULENCE: AN ANALYSIS OF BANKING IN ECUADOR

Abstract:

The purpose of this research is to measure the management of intellectual capital and its components in Ecuadorian private banks for the period 2003-2021 under the VAICTM methodology. This is the first study conducted in Ecuador. The results in-dicate that intellectual capital contributes 98% of the value added, while physical capital contributes 2%, and it is concluded that the efficiency of human capital is more influential than that of physical capital. In addition, the coefficient of intellectual value added is analyzed in four periods: 2003-2007, 2008-2010, 2011-2019, 2020-2021 in order to identify those banks that perform better in times of crisis and recovery. Banks in the analyzed periods create value, however, VAIC is drastically redu-ced in times of pandemic caused by Covid 19. The implications of the study allow management to refocus its strategies to increase the efficiency of intellectual capital in the different stages of the economic cycle and the importance of improving the quality of intellectual capital as a strategic resource of modern society, which will improve the quality of financial products/ services, innovate through points and channels of attention and strengthen financial education.