臺大管理論叢第31卷第2期

91 NTU Management Review Vol. 31 No. 2 Aug. 2021 Research of Organization Capital and Bank Loan Contracts: The Role of Managerial Ability Hui-Min Chung, Department of Information Management and Finance, National Yang Ming Chiao Tung University / Sustainability Leadership Research Center Jun-Mao Chiu, Department of Finance, National Sun Yat-sen University Yi-Hua Li, Department of Finance, Chung Yuan Christian University Chun-Min Hung, Department of Information Management and Finance, National Yang Ming Chiao Tung University 1. Purpose and Objective In recent years, studies have pointed out that intangible assets play an important role in the growth of the national economy and enterprises (Corrado, Hulten, and Sichel, 2009; Dell’Ariccia, Kadyrzhanova, Minoiu, and Ratnovski, 2020). In particular, intangible assets are crucial for company growth (Dou, Ji, Reibstein, and Wu, 2021). According to Lev and Radhakrishnan (2003), intangible assets can divide into the following four categories: (1) The discovery and learning of intangible assets, which mainly concerns the technology, knowledge, and patents discovered during the research and development process; (2) intangible assets related to customers, such as brands, trademarks or unique consumer channels; (3) human resources, such as salary systems and employee training systems that can increase employee productivity and reduce employee turnover; and (4) organization capital, which is a special structure, organization, and management method that enables the company to maintain its competitiveness. Organization capital is an intangible asset that plays an important role in a company's output and profitability. Prescott and Visscher (1980) believe that organization capital is the accumulation of key resources and skills, which enables companies to improve production efficiency. Evenson and Westphal (1995) point out that organization capital is a kind of knowledge that can combine human technology and physical assets to produce products that meet consumer expectations. Eisfeldt and Papanikolaou (2013) further indicate that organization capital is included in the company’s key technologies and talents such as managers, engineers, and researchers. To sum up, organization capital involves areas including business management, organizational structure, and even organizational culture and human technology. Organizational capital not only can improve the production efficiency and output of a company, but can also help the company become competitive.

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