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Jurczak, Jolanta. "Intellectual Capital Measurement Methods." Economics and Organization of Enterprise 1, no. 1 (January 1, 2008): 37–45. http://dx.doi.org/10.2478/v10061-008-0005-y.
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Ognjanović, Jasmina. "Methods for measurement intellectual capital." Ekonomski pogledi 18, no. 2 (2016): 29–46. http://dx.doi.org/10.5937/ekopog1602029o.
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Sundac, Dragomir, and Irena Fatur Krmpotić. "MEASUREMENT AND MANAGEMENT OF INTELLECTUAL CAPITAL∗." Tourism and hospitality management 15, no. 2 (2009): 279–90. http://dx.doi.org/10.20867/thm.15.2.11.
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Modern companies work in the conditions of so called New economy, where the knowledge becomes the basic economic resource. Traditional resources as land, capital and labour are determined by diminishing returns; knowledge instead is connected with increasing returns. Knowledge that can be used in the company for creating value represents the intellectual capital. By measuring intellectual capital, company can manage it. This paper shows concise overview of used methods for measuring intellectual capital. Authors measured intellectual capital in four companies in Croatia using Calculated Intangible Value (CIV) as a method. Results of measuring intellectual capital are complemented with traditional financial ratios. However, intellectual capital statement gives real outlook in competitive advantage of certain company. Every modern company should measure its intellectual capital value and report it as a supplement to traditional balance sheets.
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Mačerinskienė, Irena, and Rasa Aleknavičiūtė. "Comparative Evaluation of National Intellectual Capital Measurement Models." Verslas: Teorija ir Praktika 16, no. 1 (March 30, 2015): 1–14. http://dx.doi.org/10.3846/btp.2015.548.
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National intellectual capital is regarded as an important factor of a country’s ability to perform high value added functions including the ability to create innovations. Measuring national intellectual capital is still a complicated task. In this article national intellectual capital concept and measurement models are analysed in order to show how national intellectual capital could be measured. The findings show that there are several weaknesses of measurement models validity. Those weaknesses in more recent measurement models are minimized by introducing advanced national intellectual capital structural models and more complex value approximation methods. Analysis of selected national intellectual capital measurement models has shown that there are not many similar indicators used (from 21% to 60% of matching indicators), though results obtained by using these evaluation models have high significant correlation.
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Ramanauskaitė, Agnė, and Kristina Rudžionienė. "INTELLECTUAL CAPITAL VALUATION: METHODS AND THEIR CLASSIFICATION." Ekonomika 92, no. 2 (January 1, 2013): 79–92. http://dx.doi.org/10.15388/ekon.2013.0.1413.
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Abstract. Currently, a more significant added value is created by intellectual rather than physical capital; yet, according to the current standards of accounting, only a minor segment of intellectual capital is presented in financial accounts of enterprises as it usually does not satisfy one of the criteria of property recognition in financial accounting, namely reliable valuation. As a result, there is an increasing demand for novel methods of valuation, enabling enterprises to establish reliably the value of intellectual capital or its specific segments of a given enterprise. A number of scholars have dealt with the methods of intellectual capital valuation. However, their works analyze and classify different methods of intellectual capital valuation, and different criteria of classification are employed; hence, there is no universally accepted opinion on the issue. That is why the aim of this research was to generalize a scheme of methods of intellectual capital valuation. The main methods applied in the present study are the synthesis and generalization of academic writings, including content analysis. The results of the research and its conclusions are based on the analysis of academic investigations conducted by various authors and the resulting publications. Results. The article generalizes the methods of intellectual capital valuation, suggested by a number of scholars, provides comparisons, reveals the multiplicity of the methods, and highlights the unlimited research of the academic field. Besides, the main classifications of methods of intellectual capital valuation are provided, and the applied criteria are defined. Conclusions. It was established that more than sixty different methods for the valuation of the intellectual capital of an enterprise are available. The results of the research show that these methods are classified according to the four following features. Correspondingly, a classification scheme of intellectual capital valuation methods has been developed. It has been established that most methods of intellectual capital valuation are based on scorecard, they assess specific components; of intellectual capital and in the process of valuation do not employ monetary units of measurement. Tis reveals a lack of the studies that focus on the financial aspect of intellectual capital valuation methods.Key words: intellectual capital, valuation, valuation methods, classification of methods
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Roze, Nelly. "Measurement of the intellectual capital of Russian regions." R-Economy 7, no. 2 (2021): 72–87. http://dx.doi.org/10.15826/recon.2021.7.2.007.
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Relevance. The rapid growth in the value of intangible resources brings up a problem of managing innovative development and evaluating intellectual capital. Intellectual capital is essential for socio-economic development of countries and regions. Research objectives. The key objective of this study is to develop an approach to evaluate the balance of structural components of regional intellectual capital. Data and methods. The proposed approach has been tested on the data from 75 Russian regions for 2000-2018. Calculations are made on the basis of mathematical formulae, the methods of linear scaling and of paired comparisons. Visualization of the calculation results was carried out by using the GeoDA spatial modeling software. Results. The article describes an approach to assessing the balance between the structural components of intellectual capital. It includes a measurement algorithm, a system of indicators and a model for assessing structural components of intellectual capital, a criterion scale for determining the balance of structural components. The proposed approach allows us to develop a step-by-step guide to effective decision-making. Conclusion. The proposed approach and indicators can be used for devising strategies of intellectual capital management on the regional level.
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Pedro, Eugénia, João Leitão, and Helena Alves. "The intellectual capital of higher education institutions." Journal of Intellectual Capital 20, no. 3 (June 1, 2019): 355–81. http://dx.doi.org/10.1108/jic-07-2018-0117.
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PurposeThe purpose of this paper is to present an innovative operational proposal for measuring the intellectual capital (IC) of higher education institutions (HEIs) through a strategic prospective lens of analysis.Design/methodology/approachAfter providing a literature review on the methods for measuring IC that focuses on the organisational IC of HEIs, four case studies applied to Portuguese HEIs are presented, using a matrix of cross-referenced impacts – multiplications applied to a classification (MICMAC) approach.FindingsThe empirical findings reveal how human capital, structural capital and relational capital make up the core components and provide a fairly diversified list of the measurement indicators for the operational evaluation of the IC of HEIs.Practical implicationsIt contributes into the literature of strategic prospective analysis of HEIs by: analysing the measurement systems for the organisational IC interrelated with HEIs; identifying the key components to the organisational IC of HEIs and their respective measurement indicators; and draufting a new method for operationally implementing organisational IC through the systematic application of the components and indicators identified.Originality/valueThrough an innovative vision, the present study reconciles and systematically structures the methods already proposed by other authors before presenting an innovative operational approach and an alternative to the already existing methods. In addition, the structure of this proposal itself enables HEIs to choose from among the various indicators proposed for IC, correspondingly those that best align with the type of institution under evaluation.
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Kövesi, János, Zsuzsanna Tóth, and Tamás Jónás. "How much is intellectual capital worth for the organization?" Acta Oeconomica 62, no. 1 (March 1, 2012): 65–91. http://dx.doi.org/10.1556/aoecon.62.2012.1.5.
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The purpose of the paper is to contribute to the use of evaluator and utility functions in order to increase the reliability of scorecard based intellectual capital (IC) measurement methods and to express and aggregate the utility of IC components to an organization. The conducted field experiment integrates the results of interviews with 23 brand name customers by examining the customer satisfaction measuring practice of service provider companies. Our main finding is that adequately calibrated evaluator functions assign perceived customer satisfaction to its scorecard based measured values and reduce the distortions of scorecard based measurements. The originality of the research lies in expressing and aggregating the utilities of IC components to the organization by interpreting the evaluator function as a kind of utility function. This application allows the joint use of financial valuation and scorecard based measurement in the same performance management system.
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Palimąka, Karolina, and Mateusz Mierzejewskl. "Measurement of Intellectual Capital as Exemplified by Methods of Groups Based on the Roa Indicator and on Market Capitalization." e-Finanse 12, no. 4 (June 27, 2017): 58–71. http://dx.doi.org/10.1515/fiqf-2016-0008.
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Abstract The concept of a knowledge-based economy is a relatively new topic, but it does not mean that the previous economies did not use knowledge. For many years, knowledge formed the basis of any economy, it was a factor that set the pace of each of them, but just nit is making a significant impact on the entrepreneurial environment, and more. Inherent KBE is the concept of intellectual capital. The article raises both theoretical approaches towards the concept of intellectual capital, and points to the importance (from the point of view of managing this intangible value in the company) -of measuring intellectual capital. The process of good management of the value of intangible assets must be supported by knowledge about, e. g.,its size, value, etc. The authors focus on presenting methods of measuring intellectual capital from two groups of methods by the classification made by K. E. Sveiby, who is considered one of the fathers of the IC concept. The goal of the article is to compare methods from these two groups in terms of their flaws and advantages as regards preparing business analysis. This is done through presentation of the topic, including the concept and methods of intellectual capital measurement, which was based on the review of the literature.Furthermore, based on financial statements of companies from the WIG- oil&gas index and WIG- food industry indexwaysof interpreting the final results are presented.
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Widarjo, Wahyu, Rahmawati, Bandi, and Ari Kuncara Widagdo. "Underpricing and Intellectual Capital Disclosure: Evidence from Indonesia." Global Business Review 21, no. 6 (November 25, 2020): 1325–37. http://dx.doi.org/10.1177/0972150919857017.
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In this study, we investigate the relationship between intellectual capital disclosure and underpricing. We did interviews and gave questionnaires to practitioners and academics to develop intellectual capital disclosure measurement methods (in this case, it is the weighted disclosure index). The analysis result of 189 companies which did initial public offerings in Indonesia during 2000–2014 shows that intellectual capital disclosure affects negatively on underpricing. It indicates that intellectual capital disclosure can reduce asymmetry information between the issuer and the potential investor. In addition, intellectual capital disclosure can assist potential investors in assessing the company’s quality and prospects.
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Rus, Alexandra Ioana Daniela, Monica Violeta Achim, and Sorin Nicolae Borlea. "Theoretical and Methodological Approaches on the Intellectual Capital." Studia Universitatis „Vasile Goldis” Arad – Economics Series 29, no. 2 (June 1, 2019): 1–16. http://dx.doi.org/10.2478/sues-2019-0005.
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Abstract The aim of this paper consists in providing a general overview of the notion of intellectual capital as a key to maximizing the corporate performance. Following the researches carried out, we present the delimitations of the intellectual capital in relation with human capital, relational capital and structural capital. In terms of its measurement, we focus on a question which could be a solid base for the next studies: “Can intellectual capital be evaluated?” In this regard, a number of methods (direct and methods based on assets returns), generic model and individual company models were presented, concluding in this way with a hierarchy in terms of utility and their importance.
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Anugrahani, Inanda Shinta. "Efisiensi Pengungkapan Modal Intelektual dalam Perusahaan." Jurnal Ekonomi Akuntansi dan Manajemen 20, no. 2 (September 29, 2021): 101. http://dx.doi.org/10.19184/jeam.v20i2.25466.
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The business dynamics of the 21st century have led to sudden changes. This sudden shift manifested itself as a shift from industry-based business to technology and knowledge. The purpose of this research is to understand various aspects that support the practice of intellectual capital disclosure, intellectual capital measurement methods, barriers and challenges to intellectual capital disclosure, as well as guidelines that can be used for intellectual capital disclosure. This research uses the library method. The type of information used in this research is secondary information sourced from previous literature. The results of the study indicate that the practice of disclosing intellectual capital is very important. This is because intellectual capital is important and relevant information that must be known by stakeholders. Intellectual capital is taken into account in the decision-making process, which can help companies manage assets more optimally. Basically, the guidelines regarding intellectual capital in Indonesia are implicitly stated in PSAK 19.
Keywords: Efficiency, Disclosure, Intellectual Capital
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Lee, Cheng Sheng, and Kuan Yew Wong. "Advances in intellectual capital performance measurement: a state-of-the-art review." Bottom Line 32, no. 2 (May 30, 2019): 118–34. http://dx.doi.org/10.1108/bl-12-2018-0051.
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Purpose The purpose of this paper is to present a review on the latest developments, approaches and methods in intellectual capital (IC) performance measurement. Design/methodology/approach A total of 53 research papers from high-ranking journals concerning the advances in IC performance measurement were thoroughly reviewed and classified to identify the advanced approaches and methods that have been used to evaluate IC performance. Findings It is clear that the current application of advanced or intelligent methods in IC performance measurement is still at the primary stage. The reviewed approaches mainly focus on two core applications. First is to assist the data collection or data handling process and second is to enhance the result computation process to obtain a more reliable and realistic value that represents the performance of IC. Research limitations/implications This study offers a foundation and guideline for the researchers who wish to integrate advanced methods into IC performance measurement based on the reviewed advanced approaches in terms of their respective functions, strengths and limitations. It stimulates the creation of new IC performance measurement models that use advanced approaches to cope with real-life problems and dynamic conditions. Originality/value This paper contributes to the literature on IC performance measurement, in light of advances in technology. In general, five advanced approaches were identified, analyzed and discussed. Future research directions were presented to provide new insights for researchers to apply advanced methods in IC performance measurement, together with theoretical and managerial implications.
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Markhaichuk, Maria, and Irina Zhuckovskaya. "The spread of the regional intellectual capital: the case of the Russian Federation." Oeconomia Copernicana 10, no. 1 (March 31, 2019): 89–111. http://dx.doi.org/10.24136/oc.2019.005.
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Research background: The positive relationship between the availability of intellectual capital and the ability of the state, region or firm to develop economically stimulates an increase in the intellectual capital. In order to manage intellectual capital, it is necessary to have a clear idea of its availability, capacity, features, growth reserves, as well as concentration in certain territories and ability to spread. Many studies are devoted to the measurement of intellectual capital, its diffusion and impact on the economic efficiency of the organization, region, and nation. However, in the case of the Russian Federation there is a gap in the study of the spread of intellectual capital over the country.
Purpose of the article: The purpose of the article is to evaluate intellectual capital in the federal districts of the Russian Federation and to model the spread of intellectual capital.
Methods: Data on 8 Russian federal districts for the 2017 year from Unified Inter-departmental Information and Statistical System (EMISS) of the Russian Federation were taken as a basis for the research. Based on three-component model (human capital, structural capital, and relational capital), we formed a set of indicators for assessing regional intellectual capital, relevant to the Russian Federation. This allowed us to evaluate the integrated indicators of intellectual capital in federal districts and to determine the probability of intellectual capital spreading from each federal district to neighboring federal districts. We used percolation theory methods to model the spread of intellectual capital.
Findings & Value added: The study contributes to the Russian regional knowledge on intellectual capital. Intellectual capital in the Russian Federation is disproportionately distributed, concentrating closer to the capital, and has a lower level in remote territories. It spreads unevenly, flowing from the Central Federal District to neighboring federal districts, however, other federal districts develop almost in isolation.
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Yavorska, Oksana. "INTELLECTUAL CAPITAL IN THE ERA OF FORMATION AND DEVELOPMENT OF DIGITAL ECONOMY." Scientific Bulletin of Mukachevo State University. Series “Economics” 1(13) (2020): 129–34. http://dx.doi.org/10.31339/2313-8114-2020-1(13)-129-134.
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In a digital economy, the intellectual capital of the enterprise is the most important strategic resource at the fundamental level of modern business processes; and human and relational capital of organizations are generated in accordance with the innovative potential of the enterprise. The study is devoted to the analysis of theoretical approaches and models for studying the intellectual capital of the enterprise in the era of formation and development of the digital economy. Our research is based on objective principles of a systematic approach, economic analysis, logical approach and multimethodology. We have used a set of general and special methods in this article (they are historical method, method of analysis and synthesis, abstract-logical method, scientific abstraction) has also been used in the work. Paind 3D and XMind programs were used for graphic images. Scientists in various fields and disciplines have proposed different conceptual frameworks to identify and justify the correlation between enterprise intellectual capital and economic results at the micro level in systems theory, institutional theory, resource dependence theory and others, as well as the concept of enterprise intellectual capital. The article presents the results of a comparative analysis of the works of Ukrainian and foreign scientists, economists and experts in the management of intellectual capital of the enterprise. The model of intellectual capital of the enterprise has been offered, in which 19 elements in structure of human, structural and relational capitals of the organization have been defined. In the process of analyzing the intellectual capital of the enterprise, conclusions and proposals have been made under the prism of the specifics of the formation of its constituent elements in the era of formation and development of the digital economy. The findings, as well as an overview of approaches to assessing and measuring the intellectual capital of the enterprise can be used in developing organizational methods and improving the policy of human resources management of organizations. The leading vector of further development of intellectual capital of enterprises in the digital economy should be the design of the process of accumulation, classification, measurement and transformation of knowledge capital, as well as the development of tools presentation its elements as materialized and innovative assets. Key words: intellectual capital; knowledge; information; digital economy.
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Aitouche, Samia, Nadia Kinza Mouss, Mohamed Djamel Mouss, Abdelghafour Kaanit, and Tarek Marref. "Comparison and prioritisation of measurement methods of intellectual capital; IC-dVal, VAIC and NICI." International Journal of Learning and Intellectual Capital 12, no. 2 (2015): 122. http://dx.doi.org/10.1504/ijlic.2015.068984.
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Pap, Endre, Miloš Petković, and Ana Simićević. "Measuring distribution of intellectual capital components contribution: French context." European Journal of Applied Economics 18, no. 1 (2021): 1–14. http://dx.doi.org/10.5937/ejae18-28628.
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In this paper the contribution of intellectual capital components in the overall intellectual capital value is investigated. This paper adopted quantitative statistical methods Lambda phase measurement and Shapley's value on the sample of 498 French companies in the period of 2008 to 2016 in order to estimate the highest and lowest contributions of intellectual capital components. For the purpose of the study, the official financial information from the companies' annual reports were taken from the financial database "Point Risk". The paper concentrates on two out of three intellectual capital components: structural and customer capital components. By the Shapley's value final result, the customer capital component, which represents company's commercial activities with the coefficient of 0.29911, is of greatest importance. On the other side, the lowest importance belongs to the structural capital component that represents value coming from research and development expenses with the coefficient of 0.07463 This study contributes to the management sciences literature by examining distribution of contribution of two intellectual capital components in the annual reports of French companies.
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Mačerinskienė, Irena, and Rasa Aleknavičiūtė. "National intellectual capital influence on economic growth in the European Union countries." Equilibrium 12, no. 4 (December 31, 2017): 573–92. http://dx.doi.org/10.24136/eq.v12i4.30.
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Research background: Importance of intangible resources for country’s economic growth is widely recognized. However, empirical evidence of this influence is hard to show due to measurement limitations of intangible resources. Majority of empirical studies concentrates on the analysis of a specific type of intangible resource’s influence on economic growth. National intellectual capital concept provides background for an integrated assessment of the country's intangible resources. This new approach enables the estimation of intangible resources’ influence to economic growth in a more complex way.
Purpose of the article: a) To examine various scientific approaches of the national intellectual capital and its impact on the economic growth; b) to offer a measurement model of the national intellectual capital influence on economic growth; c) to evaluate the specific European Union countries’ intellectual capital’s effect on their economic growth.
Methods: Econometric analysis; refined factor value computation method using the stand-ardized regression coefficients; the SAW method; expert evaluation, cluster analysis; corre-lation and regression analyses.
Findings & Value added: A review of the economic growth theories showed that structural components of intellectual capital (human capital, structural capital, social capital, relational capital) in economic growth theories are analyzed as key determinants of economic growth. Our proposed research methodology consists time lag between variables and this let us evaluate casual relation. Empirical analysis of 25 European Union countries’ intellectual capital’s effect on their economic growth rate revealed that national intellectual capital and the countries’ level of economic development have statistically significant impact on economic growth rate. The analysis of intellectual capital components’ influence on economic growth rate of 25 European Union countries showed that only human capital and the level of economic development have statistically significant influence. A more comprehensive human capital’s influence on economic growth analysis revealed that 63.1 percent of the long-term economic growth rate in 25 European Union countries can be explained by differences in their economic development level and differences in educational achievement factor values. Moreover, analysis of national intellectual capital effect on economic growth in separate clusters allowed to identify influence differences in each group of countries.
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Starykh , S. A., I. G. Kuzmicheva, and D. I. Raspopin. "URIC AS AN INTEGRAL INDICATOR OF MEASURING THE INNOVATIVE POTENTIAL OF AN ORGANIZATION." Region: systems, economy, management 2, no. 53 (2021): 138–44. http://dx.doi.org/10.22394/1997-4469-2021-53-2-138-144.
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Subject. The level of intellectual capital development that reflects the innovative potential of the organization. Topic. The study of the level of development of the intellectual capital of an educational institution as a type of innovative organization. Purpose. Evaluate and analyze the intellectual capital of an educational organization based on the characteristics of the assessment of the innovative and intellectual potential of the organization itself, the region, as well as the socio-economic system as a whole. Methodology. Methods of research, analysis, and systematization of data. Results. The proposed measurement method allows for periodic monitoring of PEC, identifying strong and weak areas in the field of intellectual capital of the enterprise, and gives a real opportunity for management to systematically manage PEC. Application area. Organizations of an innovative type. Conclusions. Educational institutions are typical representatives of innovative organizations, on the one hand, having specific features, and on the other, having pronounced characteristics of this type of organization. It is educational institutions that combine all the essential parameters that are characteristic of innovative organizations, so to specify the methodology for assessing intellectual capital, we propose to use the indicators that are characteristic of educational institutions. Keywords: URIC, integral indicator, innovative potential of the organization, assessment of intellectual capital
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Incze, Cynthia Bianka, and Simona Vasilache. "Assessment of the intellectual capital evaluation practices in Romanian IT companies." Proceedings of the International Conference on Business Excellence 13, no. 1 (May 1, 2019): 870–82. http://dx.doi.org/10.2478/picbe-2019-0076.
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Abstract Intellectual capital started to raise and become a focal point of many businesses as they started invest in their own knowledge based activities and recognize its importance. In today’s world can be observed a more dynamic, flexible and growth oriented business environment than ever. Thus, the need for an increased amount of intangible assets in businesses lead to the recognition of the intellectual capital as a competitive advantage and strategic asset. Due to its expanding importance and relevance a significant number of measurement, valuation and evaluation methods were developed. Consensus regarding different methods was not yet reached, but all these methods are designed to help to get an approximation of the reality, thus contributing in short-term and long-term decision making. The aim of the paper is to assess the level of intellectual capital evaluation practices in multinational IT companies and IT SMEs in Romania. The study is questionnaire based and represents a mix of quantitative and qualitative research. Overall, although the challenge of intellectual capital evaluation remains significant, this study leads to the opportunity to identify evaluation patterns, best practices and a short list of useful evaluation indicators for businesses which already are or could be implemented in the near future.
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Yavorska, Oksana. "The knowledge as a complementary part of the intellectual capital of the enterprises in the era of the digital economy." Herald of Ternopil National Economic University, no. 3(97) (October 1, 2020): 185–98. http://dx.doi.org/10.35774/visnyk2020.03.185.
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Introduction. The article deals with the problem of the main changes expected in the framework of the digital economy are considered. Particular attention is paid to the areas of transformation the knowledge capital in these conditions. A driver of modern digital economy should be regarded as an intellectual capital that based on the combined use of the intangible assets and the information resources of the enterprises. The formation of the intellectual capital of a company is viewed from a systemic perspective and in conjunction with the formation of the knowledge capital of the enterprises. Prpose. The purpose of our article is to determine the distinctive role of corporate knowledge in the formation of the intellectual capital of the enterprise in the digital economy, substantiation of the principle of complementarity in the trajectory of modern transformations of knowledge capital of the organization within the concept of the intellectual capital. Methods. We have used a set of general and special methods in this article (they are historical and logical method, method of analysis and synthesis, grafhic constraction, scientific abstraction). Results. The article presents the author’s view on the emergence of the knowledge capital of the enterprises in the context of the prevailing economic theories, based on an analysis of the evolution of the category «knowledge». The role of knowledge capital for the intellectual capital of the enterprises and its essence in the relational (customer) capital, organisational capital and human capital of the company, firms. The carried-out analysis and synthesis of the existing approaches on studying of intellectual capital of the enterprises taking into account specifics of the knowledge capital of the company are used to support existing managerial policies for better retention practices and management of human resources, for better management practices of the enterprises. Prospects. The leading vector for the development of the intellectual capital of the enterprises in the digital economy should be the question of designing the process of cumulation, classification, measurement and transformation of knowledge capital, as well as the development of tools for translating its elements into materialized and innovative assets of the organization.
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Sandhu, Kamran Yousef, Suleman Aziz Lodhi, and Ahmad Zogo Memon. "A Strategic Tool for Managing Intellectual Capital of Pakistan." Pakistan Development Review 50, no. 2 (June 1, 2011): 163–78. http://dx.doi.org/10.30541/v50i2pp.163-178.
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In the post-industrial world, the Intellectual Capital (IC) of nations has become critical for wealth and value creation. In this era of knowledge-based economy, one real challenge that a nation faces is maintenance of its economic growth and its competitiveness in the international market. Policy-makers presently need to have a strategic management tool to measure and develop IC assets of a country. The paper extends the framework of Skandia Navigator [Edvinsson and Malone (1997)] from the corporate to the national level and develops a tool on the extended framework to visualise the intellectual capital of Pakistan. The Intellectual Capital of a country is indirectly visualised through various indices. These indices change from year to year, not necessarily in a consistent manner, so that having a general view would be baffling. To overcome this limitation, this paper proposes three methods of measuring the change in IC based on Financial Index (FI), Human Index (HI), Process Index (PI), Market Index (MI) and Research Index (RI). These tools produce composite IC indices for Pakistan (2005-2010) that can be useful for the development of national policies. Keywords: Intellectual Capital Measurement, Knowledge Management, Strategic Management, Pakistan Economy
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Mrša, Josipa. "Valuation of Internally Generated Intangible Assets in Accounting." Acta Economica Et Turistica 4, no. 2 (December 1, 2018): 181–95. http://dx.doi.org/10.1515/aet-2018-0012.
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AbstractValuation and management of intangible assets in modern business is becoming more significant. Measurement of the value of intangible assets in this paper refers to the intangible resources for which the company did not have any procurement costs and, therefore, are not standardized in traditional accounting, and their use has the potential to create value on the market. Knowledge, as the basis of intellectual capital, becomes a basic strategic resource and a generator for improving the organization’s success. Therefore, determining the way of identifying and evaluating intellectual capital becomes the common practice of the most successful companies through indicators that have their quantitative or qualitative weight.The interest of users of financial statements for the value of intellectual capital depends on their involvement in the overall business. Its value is basically the difference between high-efficiency companies and those that are less efficient. It becomes the starting point for business analysis of the company to reveal the hidden, untapped value of human capital and point to the need to make the business better. Possible methods of valuation of the total intangible assets of the company are presented, some of which are standardized, but most of the value, contained in intellectual capital, is not valued or recognized. It is proposed that, along with the standard financial statements, the total value of the intellectual capital to which the results are realized on the market.
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Tibor TARNÓCZI, Tibor x., and Edina KULCSÁR. "COMPARATIVE ANALYSIS OF VALUE ADDED INTELLECTUAL CAPITAL AT SMALL AND MEDIUM ENTERPRISES." ANNALS OF THE UNIVERSITY OF ORADEA. ECONOMIC SCIENCES 30, no. 2 (December 2021): 260–71. http://dx.doi.org/10.47535/1991auoes30(2)027.
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Today, rapid and unpredictable changes in the economy, globalization, the technical revolution, competition intensification, the reviving of the service industry required rethinking the concept of corporate competitiveness. An important determinant of corporate successfulness consists in that knowledge and adequate information which positively contribute to the corporate value creation. Those intangible capital elements that play a crucial role in sustainable corporate value creation are intellectual capital. The knowledge, skills and competencies of managers and employees customer relations, the company’s organizational structure are the main components of intellectual capital. Today, the software and the knowledge-based economies support the fact that the importance of intellectual capital has been growing in all sectors of the economy. The main aim of this study is to investigate the relationship between intellectual capital and corporate performance. To these, we carried out a comparative analysis of value added by intellectual capital for companies acting in different sectors from two neighbouring counties from Romania (Bihor) and Hungary (Hajdú-Bihar). The analysis is based on the financial statements for five years (2014-2018) of companies operating in agriculture, construction, manufacturing, wholesale trading, retail trade and transportation. We used the Value Added Intellectual Coefficient (VAIC) from Scorecard Methods as a measurement of intellectual capital. The investigation of the relationship between firms’ performance and intellectual capital was performed using panel regression, where the established dependent variables were Operating Return on Assets (OROA), Operating Return on Sales (OROS) and the explanatory VAIC components: HCE, SCE, CCE. In the case of Romanian companies, a medium-strong correlation can be observed between OROA and VAIC components. In the case of Hungarian firms also a medium-strong correlation can be observed between OROS and VAIC components.
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Stan, Sebastian, Dănuț Dumitrascu, and Antonio Pele. "Recognizing and Valuating Intangible Resources - Major Difficulties in Organisational Management." Management of Sustainable Development 9, no. 1 (June 1, 2017): 35–38. http://dx.doi.org/10.1515/msd-2017-0012.
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AbstractThe measurement of intangible resources, intellectual capital, has become a major area of investigation for researchers and practitioners, with increasing concerns for monitoring and valuating this type of capital. In spite of this, the approaches to these issues have not been harmonised, therefore management is currently experiencing real difficulties in the assessment and measurement of intangible resources. In this article we wanted to review the valuation of intangible resources from a theoretical point of view, by highlighting the features of the most important valuation methods established in the literature.
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Loyarte, Edurne, Igor Garcia-Olaizola, Gorka Marcos, María Moral, Nora Gurrutxaga, Julian Florez-Esnal, and Iñaki Azua. "Model for calculating the intellectual capital of research centres." Journal of Intellectual Capital 19, no. 4 (July 9, 2018): 787–813. http://dx.doi.org/10.1108/jic-01-2017-0021.
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Purpose The purpose of this paper is to develop a model to help RTC managers in the technological and R&D decisions and bets so as to change the perceived value of the R&D projects of the centres. To achieve this aim, the paper investigates the different models for the valuation of intangible assets. Design/methodology/approach The paper presents a single case study and focusses on creating a useful IC valuation model for the centre, using existing methods and frameworks in IP and IC fields. Findings The paper presents a new method for the calculation of IC applied to a RTC in ICT sector, in which the valuation of the IP is included (software libraries) and the KM and the peculiarities of these kinds of organisations are explained. The model is based on Edvinsson and Malone (1997) and Leitner (2005). Research limitations/implications Although the use of a single case provides rich data, it is also limits the generalisability to other RTCs. Another limitation is that not all existing methods were explained. This new method constitutes a first proposal for the IP and IC valuation in RTCs and further discussion and development would be carried out in the future. Practical implications The results suggest an IP and IC measurement model to improve the strategic and technological decisions making. Social implications This paper may favour the competitiveness of companies engaged in intangible assets (knowledge, R&D) and the negotiation of the contracts since it arrives to determine a value for the intellectual property (software libraries) and intellectual capital. Originality/value This paper proposes an IC Model orientated towards an RTC context and to provide a value perspective for them. The authors are practitioners and the model is in use.
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Stachowicz-Stanusch, Agata. "THE RELATIONSHIP BETWEEN NATIONAL INTELLECTUAL CAPITAL AND CORRUPTION: A CROSS-NATIONAL STUDY." Journal of Business Economics and Management 14, no. 1 (September 12, 2012): 114–36. http://dx.doi.org/10.3846/16111699.2012.667831.
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The main objective of this paper is to examine the relationship between the National Intellectual Capital and the Corruption Perception Index. The analysis of the relationship between the NIC and the CPI was conducted for 16 countries: Austria, Belgium, the Czech Republic, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Netherlands, Poland, Portugal, Spain, Sweden and the United Kingdom and was based on NIC data extracted from two sources (Carol Yeh-Yun Lin and Leif Edvinsson (2010), and the generational approach to the National Intellectual Capital measurement presented in the Report on the Intellectual Capital of Poland). Determination of the strength of the correlation between NIC and CPI represents the first step in evaluating intellectual capital as the factor which may reduce the scale of corruption. Evidence of a strong relationship between NIC and CPI confirms the author's hypothesis that a strong relationship exists, at the same time proving that further studies must be carried out to determine the direction of this relationship. Based on the results of such research (providing that NIC is confirmed to have an effect on CPI), it will then be possible to recommend new methods of preventing corruption through the development of NIC.
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Veltri, Stefania, Andrea Venturelli, and Giovanni Mastroleo. "Measuring intellectual capital in a firm belonging to a strategic alliance." Journal of Intellectual Capital 16, no. 1 (January 12, 2015): 174–98. http://dx.doi.org/10.1108/jic-06-2014-0069.
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Purpose – The purpose of this paper is to propose a method to measure intellectual capital (IC) in firms involved in strategic alliances, an area that has received scant attention in the literature, as existing research is focused mainly on organizational level mainly and increasingly on macro-level unit such as regions or nations. There are very few works at the meso-level (i.e. alliances, clusters), and the paper aims to fill this void, by providing researchers and practitioners with a tool capable of combining measurement and management aims, developed at organizational level with the active participation of the researchers. Design/methodology/approach – The method of analysis is based on a model formalized through a fuzzy expert system (FES). The FES are able to merge the capabilities of an expert system to simulate the decision-making process with the vagueness typical of human reasoning, maintaining the ability to still have a numeric value as a response. Its construction requires the participation of experts, whose knowledge of the problem is accumulated in the form of blocks of rules. These features make it possible to formalize the decision-making process related to the IC valuation, handling qualitative and quantitative variables, and exploring the cognitive mechanisms underlying this process. Findings – The outcome of the application is a system designed to measure the intangible performance deriving from participation in a strategic alliance using FES. This study contributes to the broadening of the research community’s understanding regarding the alternative measurement of IC created within strategic alliances. Research limitations/implications – To the best of the authors’ knowledge, IC literature lacks methods expressly designed to measure the incremental value of IC originating from collaboration among firms. From a measurement perspective, the results may be regarded as valuable proof that IC performance within strategic alliances can be measured quantitatively. Practical implications – On the management side, the possibility of retracing the determinants of different IC intermediate indicators composing the final IC index allows strategic alliances managers to use this information for decision-making purposes. Originality/value – To the best of the authors’ knowledge this is the first study applying FES to measure IC in a firm belonging to a strategic alliance. In the authors’ opinion, fuzzy logic methodology, recently applied in empirical work designed to evaluate IC, represents a reliable methodology because of the “fuzzy” nature of IC.
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Inkinen, Henri. "Review of empirical research on intellectual capital and firm performance." Journal of Intellectual Capital 16, no. 3 (July 13, 2015): 518–65. http://dx.doi.org/10.1108/jic-01-2015-0002.
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Purpose – The basis of value creation has shifted from tangible factors of production towards intangible resources such as intellectual capital (IC) (e.g. Grant, 1996). The average organisation’s IC has been estimated to be three to four times over its book value (Edvinsson and Malone, 1997); thus, it is vital for companies to understand how it is created, managed, measured and evaluated. However, there are still many debated and complex issues, and the empirical measurement of IC is one of those. The purpose of this paper is to determine if IC systematically influences firm performance. Design/methodology/approach – A systematic review procedure was utilised as this study’s research design. Findings – The findings demonstrate that IC influences firm performance mainly through interactions, combinations and mediations. Also, there is a great deal of evidence on the significant relationship between IC and firm’s innovation performance. Research limitations/implications – This paper reviews only empirical studies based on survey data and statistical methods of analysis. Practical implications – The research points to some focal aspects of IC that are associated with firm performance. Originality/value – This is the first study to review empirical literature on IC and firm performance. It increases the current understanding by bringing together the research related to the issue and drawing meta-level analysis.
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Veltri, Stefania. "The impact of Intellectual Capital measurement on the financial markets: a meta-analysis approach." Journal of Corporate Finance Research / Корпоративные Финансы | ISSN: 2073-0438 3, no. 3 (December 31, 2010): 54–76. http://dx.doi.org/10.17323/j.jcfr.2073-0438.3.3.2009.54-76.
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The main aim of the article is to offer a systematic review of the literature on the relation between Intellectual Capital (IC) and Firm Performance (FP) through the statistical technique of meta-analysis (MA). MA synthesizes the quantitative results of different empirical studies on the relationship between explicative, independent variables (IC in our case) and dependent variables (FP) in a common metric called the effect size (Rosenthal, 1984, Hedges and Olkin, 1985, Hunter and Schmidt, 2004/1990). Meta-analysis is scarcely used in business sciences, even if applications in these research areas have increased in the last few years. The originality of the article consists in applying a relatively new technique for business sciences and particularly new for the IC literature. The research of a correlation between IC and FP has always been considered relevant for both a firm’s managers and Scholars (Ittner, 2008; Kamiyama et al., 2004), but has encountered many drawbacks, not least the difficulties in measuring IC. Researches on a correlation between IC and FP received a great boost after the publication of the VAICTM method by Ante Pulic, (1998, 2000, 2204) which allows the IC performance to be calculated by starting from accounting data. The article, despite the limits deriving from the effectiveness of the measures of the two variables and from a lack of reliability in the measurement of the studies included in the MA, tries to summarize, from a statistical point of view, for the first time in the IC literature, the researches existing on such a connection and, above all, to search for the variables responsible for the heterogeneity between studies (moderators). On the whole, there are two ways to conceptualize MA: fixed-effects and random-effects MA (Hedges and Vevea, 1998; Hunter and Schmidt, 2004/1990). The fixed-effect methods assumes that all studies in an MA comes from a population with a fixed-average effect size, whilst random-effect methods assume that average effect size in the population vary from study to study. I chose to utilize a random-effects method, in particular the Hedges and colleagues’ method (Hedges and Olkin, 1985, Hedges and Vevea, 1998), since the data collected for the MA are real-world data, likely to have variable-population parameters and because the random-effects method allows inferences that generalize beyond the studies included in MA (Field, 2009). The moderator analysis has been carried out by using a multi-level regression model, due to the hierarchical nature of our data (multiple FP measures in the same study). With respect to the traditional meta-analytic techniques, multilevel modelling structure accounts for dependencies in the data whilst also allowing each study to contribute different effect sizes (Hox, 2002; Van Den Noortgate and Onghena, 2003; Goldstein et al., 2000). Despite to its potential efficacy (Hofmann and Gavin, 1998), few published MA utilized this method, for a distinct lack of prescriptive instructions on how to conduct a MA using multilevel modelling (O’Mara et al., 2005). The main MA result is a positive true effect size of the correlation between IC and firm’s performance, whilst, from the moderator analysis, it emerges that the different economic context is the main responsible for the between-study variance, together with the industry and the FP measures. Stefania Veltri. Researcher in Business Economics, Department of Business Sciences, University of Calabria. stefania.veltri@unical.it
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Dika, Sandra L., and Kusum Singh. "Applications of Social Capital in Educational Literature: A Critical Synthesis." Review of Educational Research 72, no. 1 (March 2002): 31–60. http://dx.doi.org/10.3102/00346543072001031.
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This critical synthesis incorporates both theoretical and empirical literature on social capital since its original conceptualization by Bourdieu (1986) and Coleman (1988) in the late 1980s. The focus of the review is on educational literature that studies social capital and educational outcomes. After outlining their approach, the authors briefly trace the intellectual history of the concept and its transport to the field of education. Next, they undertake a critical review of the literature by first examining trends in conceptualization, methods, and outcomes and then assessing empirical support for claims that social capital is positively linked to educational and psychosocial outcomes. Finally, they discuss gaps in the conceptualization, measurement, and analysis of social capital in educational literature.
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Secundo, Giustina, Susana Elena- Perez, Žilvinas Martinaitis, and Karl-Heinz Leitner. "An intellectual capital maturity model (ICMM) to improve strategic management in European universities." Journal of Intellectual Capital 16, no. 2 (April 13, 2015): 419–42. http://dx.doi.org/10.1108/jic-06-2014-0072.
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Purpose – The public sector is one of the least addressed areas of intellectual capital (IC) research. Universities are an interesting area of investigation because they are considered critical players in the knowledge-based society. The purpose of this paper is to develop a more general, flexible and comprehensive “IC Maturity Model” for Universities (ICMM), a framework for defining and implementing IC measurement and management approaches, as part of the whole strategic management of universities. Thus, the ICMM proposes a staged framework to initiate a step-by-step change within a university based upon its current level of IC management maturity. The different steps of maturity might be an answer to cope with the huge diversity of European universities, some of which have strong managerial orientation, while others follow collegial forms of governance. Design/methodology/approach – The research approach is based on what has been called the “third stage” of IC research (Dumay and Garanina, 2013), focused on the practices of IC approaches rather than on its theoretical conceptualisation. The ICMM has been developed under the “Quality Assurance in Higher Education through Habilitation and Auditing” project framework, initiated by the Executive Agency for Higher Education and Research Funding of Romania (EUFISCDI). Three Mutual Learning Workshops (MLWs) were organised as a mean to bring together 15 international experts and practitioners to share their views and experience on IC reporting and setting up task forces. Findings – An ICMM, which is a flexible model of implementing IC approaches within public universities, is developed. The ICMM provides a theoretical continuum along which the process of maturity can be developed incrementally from one level to the next, moving from IC data collection, awareness of IC, adjustment of IC specific indicators, measurement of IC, reporting of IC, interpretation and decision making, strategy and planning. Research limitations/implications – Future research needs to conduct empirical studies in universities to generalise the effectiveness of the ICMM model and guidelines for implementation. Practical implications – The ICMM provides a staged framework to initiate a step-by-step change within a university based upon its current level of IC management maturity and its IC value creation dynamics. It allows universities to follow different paths, not necessarily a linear sequence. Originality/value – Although several methods for IC measurement and management exist, most of these cannot accommodate the trade-off between the comparability aims and the efforts to capture the institution’s uniqueness when designing an IC model.
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Korutaro Nkundabanyanga, Stephen, Joseph M. Ntayi, Augustine Ahiauzu, and Samuel K. Sejjaaka. "Intellectual capital in Ugandan service firms as mediator of board governance and firm performance." African Journal of Economic and Management Studies 5, no. 3 (August 26, 2014): 300–340. http://dx.doi.org/10.1108/ajems-06-2012-0041.
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Purpose – The purpose of this paper is to examine the mediating effect of intellectual capital on the relationship between board governance and perceived firm financial performance. Design/methodology/approach – This study was cross-sectional. Analyses were by SPSS and Analysis of Moment Structure on a sample of 128 firms. Findings – The mediated model provides support for the hypothesis that intellectual capital mediates the relationship between board governance and perceived firm performance. while the direct relationship between board governance and firm financial performance without the mediation effect of intellectual capital was found to be significant, this relationship becomes insignificant when mediation of intellectual capital is allowed. Thus, the entire effect does not only go through the main hypothesised predictor variable (board governance) but majorly also, through intellectual capital. Accordingly, the connection between board governance and firm financial performance is very much weakened by the presence of intellectual capital in the model – confirming that the presence of intellectual capital significantly acts as a conduit in the association between board governance and firm financial performance. Overall, 36 per cent of the variance in perceived firm performance is explained. the error variance being 64 per cent of perceived firm performance itself. Research limitations/implications – The authors surveyed directors or managers of firms and although the influence of common methods variance was minimal, the non-existence of common methods bias could not be guaranteed. Although the constructs have been defined as precisely as possible by drawing upon relevant literature and theory, the measurements used may not perfectly represent all the dimensions. For example board governance concept (used here as a behavioural concept) is very much in its infancy just as intellectual capital is. Similarly the authors have employed perceived firm financial performance as proxy for firm financial performance. The implication is that the constructs used/developed can realistically only be proxies for an underlying latent phenomenon that itself is not fully measureable. Practical implications – In considering the behavioural constructs of the board, a new integrative framework for board effectiveness is much needed as a starting point, followed by examining intellectual capital in firms whose mediating effect should formally be accounted for in the board governance – financial performance equation. Originality/value – Results add to the conceptual improvement in board governance studies and lend considerable support for the behavioural perspective in the study of boards and their firm performance improvement potential. Using qualitative factors for intellectual capital to predict the perceived firm financial performance, this study offers a unique dimension in understanding the causes of poor financial performance. It is always a sign of a maturing discipline (like corporate governance) to examine the role of a third variable in the relationship so as to make meaningful conclusions.
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Magradze, A. G. "HUMAN CAPITAL AS A COMPONENT OF CORPORATE INTELLECTUAL CAPITAL: EXISTING METHODS AND INDICES OF ITS MEASUREMENT AND THEIR IMPACT ON THE MARKET CAPITALIZATION OF DOMESTIC CORPORATIONS." Фундаментальные исследования (Fundamental research), no. 12 2019 (2019): 224–32. http://dx.doi.org/10.17513/fr.42652.
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Linev, A. I. "Accounting and analytical aspects of the value of human capital of the enterprise." Voprosy regionalnoj ekonomiki 31, no. 2 (June 20, 2017): 163–69. http://dx.doi.org/10.21499/2078-4023-2017-31-2-163-169.
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Object. Modern business - is highly complex, constantly changing system that requires a deep rethinking and measurement. The success and stability in business development comes only to those enterprises, which realized, develop and implement innovative projects. At the same time rely on individual intellectual development worker to the enterprise is not necessary, a reference to this situation is the implementation of innovative projects requiring «intelligent enterprise». Intelligent Enterprise - is a technologically advanced information and an enterprise carried on by a competent, highly skilled and highly educated personnel. Subject. The relevance of the article due to the fact that human capital is an important resource activities of any business entity. Goal. Author's research is aimed at studying accounting and analytical aspects of an enterprise value of human capital at the present time. Development of a qualitatively new approach to the problem focused on «intelligent enterprise». The main feature of «intelligent enterprise» - the company's market capitalization in excess of the book value of its resources. Methodology. The study challenges the registration-analytical aspects of human capital value of the enterprise used the methods of morphological analysis, typologies, techniques logistic data link, the system analysis. Results. There is a problem of underestimating the intellectual potential of the enterprise. Practice has proved that the complexity of assessing the market value of any company in the transaction of purchase and sale is caused by the fact that the market value of most companies is different from the book value. This is due to the fact that most businesses are not able to reliably estimate their intellectual assets, ie the value of human capital. Scope of the study results. All sectors of activity. Conclusions. Proper and adequate assessment of the value of the company is necessary as external stakeholders (the formation of its value), as well as with internal stakeholders (effective management). This problem is solved provided reliable accounting and reflection of human capital (intellectual potential).
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Siska, Siska, Synthia Madya Kusumawati, and L. Jade Faliany. "ANALISIS DAMPAK MODAL INTELEKTUAL, KEPEMILIKAN MANAJERIAL, KEPEMILIKAN INSTITUSIONAL, DAN DEWAN KOMISARIS INDEPENDEN TERHADAP KINERJA KEUANGAN DI MASA DEPAN." Jurnal Manajemen 18, no. 2 (April 1, 2022): 109–31. http://dx.doi.org/10.25170/jm.v2i18.2876.
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The purpose of this research was to analyze the effects of intellectual capital, managerial ownership, institutional ownership, and the proportion of independent board of commissioners on the company's financial performance. The measurement used was the ratio of probability of return on assets (ROA) of the non-financial services companies listed on the Indonesia Stock Exchange (BEI) for 2016 - 2018 period.
The data in this research were audited financial statements and annual reports from 83 eligible non-financial services. 249 samples were used. The data were analyzed by using a descriptive statistical analysis, classical assumption tests, and multiple linear regression tests with the Statistical Package for Social Sciences (SPSS) version 20.
The results showed that the intellectual capital variable had a positive effect on the company's financial performance, while the managerial ownership and institutional ownership variables had no effect on the company's financial performance, and the proportion of independent commissioner variable had a negative effect on the company's financial performance.
The abstract contains a brief description about overall article’s, problems and research objectives, research methods, research results, conclusions and suggestions.
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Hosseini, Maryam, and Mohammad Saleh Owlia. "Designing a model for measuring and analyzing the relational capital using factor analysis." Journal of Intellectual Capital 17, no. 4 (October 10, 2016): 734–57. http://dx.doi.org/10.1108/jic-04-2016-0042.
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Purpose The purpose of this paper is to present a model for measuring relational capital in banks by using measurement indicators defined in previous studies and according to the conditions of the banking industry and in particular the Ansar bank in Iran. Design/methodology/approach The study identifies measurement indicators of relational capital from the related resources and articles and uses content analysis and factor analysis methods. It also measures the selected indicators through a questionnaire analyzing them using the SPSS software to create a model to measure relational capital in the bank. Findings By using the measurement model created in this research, relational capital in Ansar bank is determined to be comprised of eight principal components. The total score of these components is the starting point of promoting the relational capital in the banking industry. Research limitations/implications This study may not have thoroughly covered the peer- reviewed articles on intellectual capital, but it can be assumed with high confidence that it has made a serious attempt at studying the most important papers on the subject as of date. Moreover, the model presented in this study is valid only when applied in comparing banks. It should further be noted that time limitation, non-availability of relevant experts as well as the required data may have affected the accuracy and reliability of the results. However, the final model has been utilized to try to optimally minimize each limitation according to the existing resources, and through their proper management. Practical implications This study provides a new approach that can significantly help bank managers in comparing their banks in the field of relational capital and reacting to their weaknesses and performance advantages of relational capital over its rivals. Originality/value In addition to creating a new framework for relational capital indicators, this study offers a model for measuring relational capital in the banks.
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Shang, Shari S. C., and Ya‐Ling Wu. "Measuring process capital from a system model perspective." Business Process Management Journal 19, no. 4 (July 19, 2013): 662–79. http://dx.doi.org/10.1108/bpmj-11-2012-0117.
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PurposeThe purpose of this paper is to seek effective measurement methods that reflect the real value of process capital.Design/methodology/approachFrom a system model perspective, the authors refined the existing knowledge of process measurement by distinguishing three kinds of indicator for the value of process capital: input, output, and the capability to manage process capital. The design of this study, therefore, incorporates a longitudinal analysis of the content of process capital and traces its evolution by attaching a monetary value to activities and assets.FindingsThe tested results reveal that the input measure is a less effective measure for process capital, while the output measure is a valid one for measuring operational and managerial performance of process capital. The capability to manage process capital can predict all dimensions of process capital in both the short‐ and long‐term periods.Practical implicationsA practical view of process capital enhances the current understanding of process capital by highlighting the sustainability of process value and the validity of measuring output and management capability of the process capital. Second, the study results also explain the productivity paradox because of the complexity of the hidden cost of process input and the distinctive capability of organizations in managing technology and complementary resources. Finally, the system view of process capital, from input through process to output of the process capital, with operationalized measures, provides a useful reference for examining intellectual capital.Originality/valueThe findings offer a more robust definition of process capital as a firm's established capability to exploit the knowledge of business processes and organize resources in designing and managing business activities for sustained value.
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Jayabalan, Jayamalathi, Magiswary Dorasamy, Murali Raman, Murali Sambasivan, and Sharbani Harun. "Unleashing frugal innovation in private higher education institutions via intellectual capital: a systematic literature review." F1000Research 10 (November 3, 2021): 1109. http://dx.doi.org/10.12688/f1000research.73329.1.
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Background: Given the persistent challenges to the higher education business model, private higher education institutions (PHEIs) are exploring myriad ways to increase enrolment and income, while aggressively managing spending. Many PHEIs are facing financial distress and struggling because of decreasing budgets and declining revenue. Thus, carving unique strategies that direct the institution to focus on its core competencies, making additional budget cuts without compromising quality, developing new revenue streams, embracing new technology, and offering affordable programs, will ultimately lead to financial success. Frugal innovation (FI) can shed light on these challenges. Methods: This paper presents a systematic literature review to investigate and analyse prior research that focused on FI within the sphere of intellectual capital (IC) and information technology capabilities (ITC) research, and their relationships in PHEIs. Transfield’s five phases were employed to extract journal articles published over a thirty-year period (1990 to 2020) from major online databases using keyword searches. Although an initial search generated 76,025 papers, the search for IC and FI yielded 41 papers, and finally only two papers were selected as they clearly related IC with FI. Results: There was a research gap in the literature published from 1990 to 2020 regarding IC applications to achieve FI. This work revealed that IC and ITC research for FI in PHEI remain insufficiently explored. Conclusions: Further research is required on the evaluation model of IC, ITC and FI, methodologies, empirical analysis, and the development of measurement metrics. A limitation to this study is the number of keywords selected.
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Popescu, Cristina Raluca Gh. "Sustainability Assessment: Does the OECD/G20 Inclusive Framework for BEPS (Base Erosion and Profit Shifting Project) Put an End to Disputes Over The Recognition and Measurement of Intellectual Capital?" Sustainability 12, no. 23 (November 30, 2020): 10004. http://dx.doi.org/10.3390/su122310004.
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Nowadays, sustainability assessment procedures, sustainability assessment indicators, and sustainability assessment models are regarded by specialists as powerful decision-supporting tools able to foster sustainable development worldwide by addressing the main economic, financial, social, and environmental challenges. In like manner, the role and relevance of intangible assets have managed to produce an irreversible change in today’s world which also seriously affected the general traits of our economic systems, leading to a phenomenon known by specialists as the “revolution of intangibles”. Over the last decades, the controversies regarding the recognition and measurement of intellectual capital (IC) have led, on the one hand, to the development of possible solutions and systems for calculating and disclosing the performance generated or stimulated by various components of IC, but, on the other hand, they have also been the main premise that favored the use of intangible assets, in general, and intellectual property (IP), in particular, the transfer of results and the reduction of the tax base by transferring income to tax havens or jurisdictions that do not tax these categories of assets. Against these aggressive methods of fiscal planning, the countries reacted unitarily and coordinated through the BEPS (Base Erosion and Profit Shifting Project) plan. Based on the country’s profile as well as on the results of the annual evaluations published by the OECD (Organisation for Economic Co-operation and Development), our study verifies whether there are premises for IP use for income transfer into favorable jurisdictions and whether the measures and solutions proposed by Action 5 of the BEPS end disputes over the recognition and evaluation of IC. In addition, our work presents a novel methodological framework for sustainability assessment, which focuses on establishing important connections between the recognition and measurement of intellectual capital, the role of sustainability assessment tools, and the implications of corporate social responsibility, since, these days, the real “values” associated with a country or business profile may be found in the intangible assets they possess.
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Perechuda, Igor, and Tomaž Čater. "Influence of stakeholders' perception on value creation and measurement: the case of football clubs." Sport, Business and Management: An International Journal 12, no. 1 (December 20, 2021): 54–76. http://dx.doi.org/10.1108/sbm-03-2021-0035.
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PurposeThe presented study aims to identify and classify the value factors that influence the value of football clubs from the stakeholder perspective, while also discussing how these factors can affect the choice of valuation methods. The paper considers how value should be measured from the perspective of stakeholders. Research focuses on clubs embedded deeply in a wide interrelated network of stakeholders.Design/methodology/approachA mixed research approach was established in order to obtain a more holistic understanding of value creation, value factors and measurement. The research builds on observational study with a mix of retrospective longitudinal study of Polish men's football clubs and interviews with stakeholders, which are then triangulated as part of a critical discussion on valuation methods.FindingsThe results show the most significant value factors determined by the stakeholders. The study discusses which performance and value measures should be used to measure value for the stakeholders of football clubs. Intellectual capital methods and asset-based methods should definitely be relied on as part of measuring the performance of football clubs within the stakeholders' network. All findings suggest the use of the multivariate valuation method in accordance with previous research.Originality/valueThe classified key value factors enable the management of football clubs to properly manage stakeholder relationships and address various stakeholders' concerns in a sustainable way. The paper proposes a research process, which may also be implemented in other studies in the non-profit sector and contributes to the literature in the fields of sports management.
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Jamil Abu-Hamour, Husam Mahmmud. "SYNCHRONOUS AND LONGITUDINAL EFFECTS OF EMPLOYEE COMMITMENT ON INTELLECTUAL, SOCIAL AND AFFECTIVE ENGAGEMENT." Business: Theory and Practice 19 (May 30, 2018): 59–69. http://dx.doi.org/10.3846/btp.2018.07.
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The aim of this research is to examine if there are any synchronous or longitudinal effects of employee commitment on employee engagement. The former is measured as a whole construct using affective, continuous and normative dimensions of commitment introduced by Allen and Mayer (1990), while the latter is assessed by intellectual, social and affective dimensions of employee engagement suggested by Soane et al. (2012). The rationale behind conducting this research is twofold. First, to fill the gap resulted from paucity of research conducted to examine the effects of employee commitment on employee engagement. Second, to overcome the most common limitation cited in many prior studies, namely the cross-sectional research design by performing a longitudinal research. The questionnaire used in this research is built by adopting items form prior literature. Then, it was administered over a two-time period to employees working in a large Jordanian hospitality setting located in Amman, the capital of Jordan. Two waves of data collection process have been achieved with a lag time of 12 months, that is, from August 2016 to August 2017. The number of returned questionnaires in the first measurement period is 487 (97.4%), while the number of returned questionnaires in the second measurement period is 473 (94.6%). The research hypotheses focus on the presence of synchronous or longitudinal effects of employee commitment, as well as intellectual, social, and affective dimensions of employee engagement. The results indicate that employee commitment significantly as well as simultaneously affects employees’ intellectual engagement, while significantly and longitudinally affects their social and affective engagement. These findings contribute to the organizational behavior literature by showing that employee commitment does not only enhance employees’ immediate absorption in methods that could be used to improve the work, but also it builds up strong relationships among them and with their organization’s values and environment. Additionally, it boosts their emotional attachment to job tasks over time. Therefore, it is recommended that academic researchers along with practitioners should look at changes in employee attitudes that might occur in the future.
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Parubchak, Ivan, and Halyna Hrynyshyn. "FEATURES OF PUBLIC ADMINISTRATION IN SHAPING STRATEGY OF VENTURE INVESTMENT OF BUSINESS ENTERPRISES." Baltic Journal of Economic Studies 6, no. 4 (November 24, 2020): 125–32. http://dx.doi.org/10.30525/2256-0742/2020-6-4-125-132.
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The purpose of this study is to define the content of the category “venture investment”, and to establish the relationship between the concepts of “venture investment” and “venture capital”, to analyze the state of venture investment in Ukraine and determine its role in innovative development of the economy, to systematize international experience consider the possibility of its adaptation in Ukraine. Object of research: venture capital in the system of financing innovation processes in the modern economy. The methodological basis of the study is a set of general scientific and special methods of cognition. Methods of analysis and synthesis, generalization and scientific abstraction were used in the formation of the conceptual and categorical apparatus. The analysis of approaches to understanding the essence of venture investment, its components was carried out using dialectical and systemic-structural methods. The application of the historical and logical method, induction and deduction made it possible to study the genesis of the theory of economics and enterprise management, the factors of the strategy of development of venture investment of business entities. Within the framework of the study of the current state of venture investment, calculation and analytical methods of observation, measurement, analysis and comparison are used. Conclusions. Based on the above study, we can assume that venture capital is a combination of financial, human and intellectual resources, which with a high level of risk is invested in the development and implementation of high-tech products of companies that are in their infancy and initial development and are not listed on the stock market and in case of success brings its owner a profit that is much higher than the industry average. Despite the riskiness of investments, venture investments have a number of attractive prospects and advantages. As world experience shows, venture-backed companies are better prepared to innovate, grow faster and create more jobs in the future.
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Campanella, Francesco, Armand Derhy, and Francesco Gangi. "Knowledge management and value creation in the post-crisis banking system." Journal of Knowledge Management 23, no. 2 (March 11, 2019): 263–78. http://dx.doi.org/10.1108/jkm-11-2017-0506.
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Purpose This paper aims to demonstrate the existence of a relationship between the knowledge creation process and competitive advantage in the banking system. The framework of knowledge creation processes adopted in this research is the spiral of knowledge proposed by Nonaka and Takeuchi (1995). The concept of competitive advantage is limited to the measurement of economic value by adopting methods that compare the financial performance of the banks with related markets. The objective of this research is to answer the following research question: Which factors of the spiral of knowledge are relevant for increasing a bank’s economic value? Design/methodology/approach The sample used for this empirical research is composed of 960 banks operating in 24 countries. The sample was analyzed from 2012 to 2015 and includes 3,840 observations. Regarding the methodology, hypothesis demonstration was carried out using a panel analysis (generalized least squares regression) on a set of variables. Findings The results show that Nonaka and Takeushi’s spiral of knowledge has a positive influence on value creation in the banking system. However, not all factors of the four modalities of converting tacit knowledge into explicit knowledge and vice versa have a positive influence on the economic value of banks. Therefore, by excluding factors that have a negative influence or are not significant, it is possible to formulate an empirical model that illustrates the relationship between the spiral of knowledge and the economic value of banks. Originality/value There is a lack of studies on the knowledge creation process in the banking system because most of the research is geographically limited, and empirical tests are performed on small samples. Second, generally, these studies are limited to the relationship between intellectual capital and bank performance measured by accounting ratios. However, intellectual capital is only one component of the broader concept of knowledge. This research uses a large and geographically diverse sample and studies the relationship between the spiral of knowledge and economic value, which is measured by various financial techniques.
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Massingham, Peter Rex, and Leona Tam. "The relationship between human capital, value creation and employee reward." Journal of Intellectual Capital 16, no. 2 (April 13, 2015): 390–418. http://dx.doi.org/10.1108/jic-06-2014-0075.
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Purpose – The purpose of this paper is to examine the relationship between human capital (HC) and value creation and employee reward. HC is an important component of intellectual capital (IC). There is growing interest in how IC can be used to create organizational value. This paper addresses the need for critical analysis of IC practices in action. Based on data gathered from three annual surveys at Australia’s second largest public sector organization, the paper introduces psychological contract (PC) as new HC factors, and develops a method to measure HC in terms of value creation (work activity) and employee reward (pay). The findings have practical implications for managers in using the paper’s HC measurement to achieve strategic alignment (SA) of the workforce. Design/methodology/approach – The research was based on data gathered from three annual surveys (2009-2011) of staff at Australia’s second largest public sector organization. A total of 248 questionnaires were completed. Three independent variables conceptualized HC: first, employee capability (HC1); second, employee satisfaction (HC2); and third, employee commitment (HC3). Two dependent variables were tested: work activity and pay. The data collected in this study was analyzed through the use of bivariate correlation and linear regression using SPSS software. Findings – The paper’s major finding is that HC1 (employee capability) and HC2 (employee satisfaction), had a direct positive relationship with the importance of work activity. The paper’s second finding was that only HC1 has a direct positive relationship with the pay. However, HC3 (employee commitment) had a direct negative relationship with the importance of work activity. Further, HC2 and HC3 had no relationship with pay. The research project organization (RPO) achieved SA with employees’ capability and motivation; as well as employee capability and pay. However, inequities emerge in terms of employee commitment and value creation (work activity) and in the PC factors and pay. Research limitations/implications – While the research findings are limited by them being based on a single RPO, this is offset to some degree by the longitudinal nature of the study and the size of the RPO. It also presents opportunities for further research, particularly in terms of further testing of the new conceptualization of HC in other organizations and industry settings, and investigation of the failed hypotheses: PC and pay; and employee commitment and work activity. Practical implications – While strong PC employees are being asked to do important work, they are not always being paid at the rate of colleagues doing similar work. This will create perceptions of distributive justice, which will make those with strong PC unhappy, thereby decreasing their PC, disrupting the SA of the value creation, and lead to employee turnover. Managers can address this problem by using the HC method outlined in this paper to introduce methods such as merit increases and variable pay. While this is problematic for public sector organizations often constrained by having to fit salary awards, innovative organizations are increasingly considering more flexible pay systems. Originality/value – The paper introduces a new conceptualization of HC, and two proxies for organizational performance: pay and work activity. The paper addresses calls for IC in practice research to make the field more relevant for practitioners. The HC model introduced will allow managers to act on IC measurement by linking HC value with adequate pay, increasing motivation, commitment, and productivity, leading to increased innovation and reduced employee turnover.
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Kannan, Gopika, and Wilfried G. Aulbur. "Intellectual capital: Measurement effectiveness." Journal of Intellectual Capital 5, no. 3 (September 2004): 389–413. http://dx.doi.org/10.1108/14691930410550363.
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Cronje, Christo Johannes, and Sindiswa Moolman. "Intellectual capital: Measurement, recognition and reporting." South African Journal of Economic and Management Sciences 16, no. 1 (February 26, 2013): 1–12. http://dx.doi.org/10.4102/sajems.v16i1.244.
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In the past few decades, the economy has moved from an industrial to a knowledge economy. Consequently, basic factors of production now no longer comprise only natural resources, capital and labour, but also intellectual capital. Despite the shift from an industrial to a knowledge economy, the accounting framework and financial reporting have not changed sufficiently to include intellectual capital. The research problem attempts to explore whether the theory of accounting should be modified for a standardised and comparable approach when accounting and reporting on intellectual capital. To solve the research problem, a literature review and content analysis on corporate annual reports were used. The results of this study indicate that the theory of accounting should be modified to ensure a standardised and comparable approach when accounting and reporting on intellectual capital in corporate annual reports.
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Lin, Carol Yeh Yun, and Leif Edvinsson. "National intellectual capital model and measurement." International Journal of Knowledge-Based Development 3, no. 1 (2012): 58. http://dx.doi.org/10.1504/ijkbd.2012.045570.
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M’Pherson, Philip K., and Stephen Pike. "Accounting, empirical measurement and intellectual capital." Journal of Intellectual Capital 2, no. 3 (September 2001): 246–60. http://dx.doi.org/10.1108/eum0000000005659.
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Užienė, Lina, and Evelina Stankutė. "Factors Influencing Intellectual Capital Measurement Practices." Procedia - Social and Behavioral Sciences 213 (December 2015): 351–57. http://dx.doi.org/10.1016/j.sbspro.2015.11.550.
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