Financial and Performance Indicators of Supply Chains: an Econometric Analysis

This study aims to contribute to the understanding of how intellectual capital efficiency and innovation influence financial performance in European ports operating within maritime supply chains, particularly under systemic shocks and crisis conditions. Using the Value Added Intellectual Coefficient as a measure of intangible asset management, the study assesses whether ports’ innovation capacity and intellectual capital efficiency enhance financial performance and resilience during adverse macroeconomic environments. Empirically, the analysis employs System GMM estimators to account for unobserved heterogeneity across ports and the dynamic nature of financial outcomes. The sample comprises 23 European ports observed from 2018 to 2023, encompassing disruptive events such as the COVID-19 pandemic, geopolitical conflicts, and economic uncertainty. Financial performance is modelled as a function of VAIC, innovation variables, port size, and macroeconomic controls. Results indicate that intellectual capital efficiency has a positive and significant impact on port financial performance, even during crisis periods. Innovation further strengthens value creation, competitiveness, and adaptive capacity within maritime logistics chains. This study advances port economics by integrating an adapted VAIC and innovation as organizational resilience drivers. Diverging from cross-sectoral analyses, the research demonstrates the strategic primacy of intangible assets in sustaining performance and viability during exogenous shocks. The results provide a robust framework for academics and policymakers to enhance the maritime sector’s adaptive capacity through intellectual capital.