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The determinants of intellectual capital disclosure: Evidence from romania

Accounting in Central and Eastern Europe

ISBN: 978-1-78190-938-6, eISBN: 978-1-78190-939-3

ISSN: 1479-3563

Publication date: 27 January 2014



The main purpose of this chapter is to investigate the association between intellectual capital disclosure (ICD) level and two potential explanatory determinants: industry type and company size.


Twenty-one annual reports of Romanian public companies represented the sample companies. For each company, an ICD index was constructed based on an intellectual capital (IC) framework composed of 33 IC items. The results obtained for ICD Index are then used for statistical testing: descriptive statistics, T test, Pearson correlation, and multiple regression analysis.


Industry type by its own does not seem to influence ICD level and company size by its own does not influence the IC disclosure. However, the combination of the two variables significantly combines together to predict ICD.

Research limitations/implications

A specified list of IC items may not provide the whole picture of ICD practices. Future research could consider interviewing managers about their disclosure rationale. A larger sample could help to further improve the extrapolation of the results. Furthermore, this study challenges researchers to extend the area of analysis by considering the relation between ICD and other possible determinants. Last but not least, a longitudinal study could provide more insights.

Practical implications

The results obtained represent a basis for comparison with those obtained by other studies carried out in other developing countries. Furthermore, they can be used in meta-analysis.


This chapter is one of the first investigating ICD in the case of Romanian companies. Accordingly, our chapter contributes to the ICD literature by providing new empirical evidence on the determinants of ICD in a developing country context.




This chapter is a revised version of a chapter presented at the 6th International Conference on Accounting and Management Information Systems held at the Bucharest Academy of Economic Studies, Bucharest, Romania, on June 8–9, 2011, and at the 4th European Conference on Intellectual Capital held at Arcada University of Applied Sciences, Helsinki, Finland, on April 23–24, 2012. The author thanks for the constructive feedback received from unknown reviewers, participants to the two conferences, and especially to Prof. Mathew Tsamenyi. Additionally, the author gratefully acknowledges the invaluable suggestions and comments received from the reviewers and guest editors of RAEE Accounting in Central and Eastern Europe. Special thanks go to Prof. Cătălin Nicolae Albu for ad hoc advices and assistance provided during this period.


Morariu, C.M. (2014), "The determinants of intellectual capital disclosure: Evidence from romania", Accounting in Central and Eastern Europe (Research in Accounting in Emerging Economies, Vol. 13), Emerald Group Publishing Limited, Bingley, pp. 163-186.



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