摘要：This study investigates the determinants and consequences of intellectual capital efficiency in the U.S. banking industry. We find that banks’ individual institutional memory of bad times reduces their intellectual capital efficiency. We also find that intellectual capital efficiency restricts banks’ risk-taking behaviors and enhances their accounting conservatism. Finally, we find that intellectual capital efficiency helps banks attract more wholesale funding deposits. In addition, we test the impact of three components of intellectual capital efficiency on bank accounting conservatism, and find that both human capital efficiency and relational capital efficiency significantly impact on bank accounting conservatism.
关键词：Banks;Intellectual Capital Efficiency;Human Capital Efficiency;Relational Capital Efficiency;Structural Capital Efficiency;Organizational Memory;Risk Taking;Accounting Conservatism;Funding Structure
