Metrics for the elements of intellectual capital in an economy driven by knowledge

Mariya Anatolievna Molodchik (Department of Financial Management, National Research University Higher School of Economics, Perm, Russia)
Elena Anatolievna Shakina (Department of Financial Management, National Research University Higher School of Economics, Perm, Russia)
Angel Barajas (Department of Accountancy and Finance, University of Vigo, Ourense, Spain)

Journal of Intellectual Capital

ISSN: 1469-1930

Publication date: 8 April 2014

Abstract

Purpose

The purpose of this paper is to explore the plausibility of six elements of IC and justify the measurement ability of a set of indicators based on publicly available data for each of the proposed element in order to provide tools to managers for their decision-making process in knowledge management (KM).

Design/methodology/approach

Core company's intangibles are combined into six intellectual capital (IC) elements that appear after the division of each of the traditional components (human, structural and relational capital (RC)). The human capital includes management and human resources capabilities (HRC). Structural capital is divided into innovation and internal process capabilities (IPC). RC contains networking capabilities and customer loyalty. In drawing on the relevant literature each element is described through a set of indicators collected from publicly available data. The validity of proposed IC model is justified through structural equation modeling. Each element is tested on a sample of more than 1,650 listed European companies over the period of 2004-2011.

Findings

The study gives empirical support of three component IC structure and its decomposition into second level. The findings reveal that implementation of KM plays a significant role for HRC as well as for IPC.

Research limitations/implications

The analysis was conducted for a particular sample that may restrict the conclusions.

Practical implications

The proposed measurements for intangibles can be applied by any company for benchmarking and comparative analysis in KM.

Originality/value

The study provides empirical justification of metrics for intangibles allowing a better route in an economy driven by knowledge.

Keywords

Citation

Anatolievna Molodchik, M., Anatolievna Shakina, E. and Barajas, A. (2014), "Metrics for the elements of intellectual capital in an economy driven by knowledge", Journal of Intellectual Capital, Vol. 15 No. 2, pp. 206-226. https://doi.org/10.1108/JIC-08-2013-0091

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Publisher

:

Emerald Group Publishing Limited

Copyright © 2014, Emerald Group Publishing Limited

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