Modified VAIC model : measuring missing components information and treatment of exogenous factors
Purpose: Value-added intellectual coefficient (VAIC) is extensively used as a measure of intellectual capital (IC), but it is criticized for not capturing the totality of IC. Therefore, this study aims to analyse critiques of the original VAIC and proposes a modified VAIC by adding missing IC components and adjusting for exogenous factors. The study uses a modified VAIC model to investigate the re