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The chapter analyses the international economic specialization of the Republic of Belarus based on the balance of payments and national statistics data by type of economic activity. It also demonstrates application of the customized Trade in Value Added methodology for analysis of the international economic specialization of Belarus. The methodology has been developed for the calculation of selected key figures for 2011–2016. Using of “Input–Output” tables to measure intersectoral relationships enabled assessment of the international trade not only in terms of prices of goods and services, but in terms of value added of each product. The analysis shows that the most important industries of the international economic specialization of Belarus are oil products, chemical products, food stuffs, equipment and vehicles, transport services, computer services. Domestic value added share of exports is about 60%, which corresponds to the level of such countries of Central and Eastern Europe as the Czech Republic, Slovakia, Estonia, Poland. Consequently, import intensity of exports accounts for about 40%. The results of the study have allowed to assess the interrelation between production, exports, and economic growth and to provide recommendations ensuring a deficit-free balance of payments.

To describe and analyse the adoption of economic value added (EVA) income as a benchmark for setting pricing and other policies of a monopolistic state‐owned enterprise in the absence of normal benchmarking mechanisms.

By earning zero economic value added profits the enterprise earns its cost of capital and escapes claims of monopolistic pricing and possible regulation. To test the success of this policy the financial series of the enterprise are developed from the date of incorporation in 1989 along with the economic value added series. The normal accounting profits are compared with the value added results. The value added results are used as a proxy for the pricing and other operational decisions of the firm that are not directly observable. The validity of the economic value added approach to provide a suitable benchmark is examined.

Provides evidence that the enterprise was successful in avoiding charges of monopolistic pricing and subsequent regulation by linking pricing and other policies to its economic results. This was in a period when similar enterprises were regulate or threatened with regulation. The economic environment in the later years of the study have changed the goals of the enterprise.

This is a case study, so the success of this New Zealand based enterprise in benchmarking its policies to economic value added cannot be generalised to other companies and environments.

Provides a useful way to benchmark profits where a monopoly position may attract regulation. It also provides a system of benchmarking if other industry information is not available.

This paper identifies a unique position where the objective was to minimise economic income, rather than the usual goal of income maximisation.

“It should also be noted that the objective of convergence and equal distribution, including across under-performing areas, can hinder efforts to generate growth. Contrariwise, the objective of competitiveness can exacerbate regional and social inequalities, by targeting efforts on zones of excellence where projects achieve greater returns (dynamic major cities, higher levels of general education, the most advanced projects, infrastructures with the heaviest traffic, and so on). If cohesion policy and the Lisbon Strategy come into conflict, it must be borne in mind that the former, for the moment, is founded on a rather more solid legal foundation than the latter” European Commission (2005, p. 9)Adaptation of Cohesion Policy to the Enlarged Europe and the Lisbon and Gothenburg Objectives.

The current search for operational criteria and tests of firm performance is largely focused on the Economic Value Added (EVA) framework. While reasserting the essential soundness of this approach the paper seeks to improve its application by proposing a version of EVA which anchors the opportunity cost of equity capital on market rather than book values. The case for this is argued on general grounds and the resulting model is convenient for examining the possible effects of the gearing factor. The practicability of the model is illustrated by applying the proposed ‘EVA’ formula to a mixed set of accounting and stock market data from a sample of UK companies.

With increasing pressure on firms to deliver shareholder value, there has been a renewed emphasis on devising measures of corporate financial performance and incentive compensation plans that encourage managers to increase shareholder wealth. One professedly recent innovation in the field of internal and external performance measurement is a trade‐marked variant of residual income known as economic value‐added (EVA). This paper attempts to provide a synoptic survey of EVA's conceptual underpinnings and the comparatively few empirical analyses of value‐added performance measures. Special attention is given to the GAAP‐related accounting adjustments involved in EVA‐type calculations.

This study investigates (1) the effect of foreign direct investment (FDI) on total factor productivity (TFP) and economic growth dynamics and (2) the relevance of value added from three economic sectors in modulating the established effect of FDI on TFP and economic growth dynamics.

The geographical and temporal scopes are respectively 25 Sub-Saharan African countries and the period 1980–2014. The empirical evidence is based on non-interactive and interactive generalised method of moments.

The following main findings are established. First, FDI has a positive effect on gross domestic product (GDP) growth, GDP per capita and welfare real TFP. Second, the effect of FDI is negative on real GDP and TFP while the impact is insignificant on real TFP growth and welfare TFP. Third, values added to the three economic sectors largely modulate FDI to produce negative net effects on TFP and growth dynamics.

Policy implications are discussed with particular emphasis on the need to complement added value across various economic sectors in order to leverage on the benefits of FDI in TFP and economic growth.

To the best of the authors’ knowledge, this is the first study to assess how value added from various economic sectors affect the relevance of FDI on macroeconomic outcomes.

The ecological footprint of the food industry and the requirements of the bio-based economy result in the need for deepening the concept of corporate sustainability. CSR provokes the implementation of eco-innovation with high value added. A main source of value added and sustainability is the integrated implementation of ecodesign practices . The purpose of this paper is to systemize an integrated model for the product ecodesign implementation, which combines not only the industrial and process ecodesign but also the overall organizational and socio-economic context of SMEs in food industry, reflected in CSR and value added for stakeholders.

The methodology for implementation of business model for sustainability of the SMEs in the food industry through ecodesign is based on vertical and horizontal integration of well-known self-relevant environmental, social and economic tools such as corporate social responsibility, life-cycle assessment, MET matrix, ecolabelling and stakeholder approach for production and marketing of high-value-added eco-products.

This study proposes an algorithm for implementation of an integrated business model for SMEs sustainability in the food industry, focusing on high-value-added delivery for stakeholders, based on corporate social responsibility, functional innovation and eco-efficiency. The ecodesign based on CSR business practice in food industry allows simultaneous optimization of environmental aspects and cost structure of products in conditions of improved quality and functionality. Thus, ecodesign contributes to the diversification not only of the company’s product portfolio, but also to opening of new marketplaces and the implementation of new market strategies by increasing the value added.

The research identifies actions, which SMEs in food industry can follow to achieve ecological redesign of their business and production processes that simultaneously enhance product functionality and resource efficiency.

The academic and the social value of the research is the focus on ecodesign and its implementation in SMEs in the food industry as a tool for creation of multidimensional high value added for stakeholders in bio-based economy.

Developed economies with high-cost environments face industrial transitions from scale-based manufacturing (MAN) to knowledge, technology and intangible asset-based sectors. The purpose of this paper is to examine the changes in employment and value-adding profiles of transitioning industry sectors in Australia and discuss the implications for policy that influences the intellectual capital (IC) profile of industrial sectors in transition.

The approach borrowed concepts from the firm-level strategic management literature and applied them to a macro level of industry analysis. In this paper the authors examine the transitions in the Australian economy which, due to a rising cost base, is experiencing a decline in its value chain-oriented MAN sector. The authors contrast four industry sectors with the MAN sector and examine the different value creation models.

The findings clearly show how the contribution to employment and value added (termed Economic Value Contribution ) of the different sectors vary. The authors extend these findings to a discussion on policy and the dimensions of IC that may have a role to play in facilitating transitions within an economy. The main conclusion is that a more rapid transition and higher value may be created if innovation and entrepreneurship are facilitated by targeted policies in transitioning sector.

This work is based on a single country analysis of selected industry sectors. Further work needs to be done across many more countries to contrast the findings across nations/regions that differ in industrial complexity and to refine the analytical framework to improve construct validity and increase analytical power.

This work has implications for policy-makers facing the challenges of a transitioning economy, whether national or regional. Governments that are hands-on with respect to interventions to salvage and/or extend the life of sectors are at risk of missing opportunities to build the capacities and capabilities of emerging sectors while those governments that are hands-off, deferring to market mechanisms, risk transitions that are too little and/or too late to maintain a national or regional competitiveness.

To the authors knowledge, this is the first attempt to integrate the specific firm-level strategic management perspectives, used in this paper, with the macro-policy level to examine industry sectors with the twin metrics of economic productivity and employment in transitioning economies.

The rise of telehealth is evident worldwide, especially now with the COVID-19 pandemic situation, and is providing extensive opportunities for health-care organisations to create added value for different stakeholders. However, even in this extreme situation, the progress of telehealth is quite slow and insufficient. In this context, it is necessary to consider how the application of telehealth services allows co-creating additional value for different stakeholders. Consequently, the purpose of this paper is to explore telehealth services and the added value that they co-create for various stakeholders across publicly and privately oriented health-care ecosystems.

This paper adopted a qualitative research design based on an explorative and comparative approach to study the perceived added value that is co-created during telehealth encounters. The authors deployed a semi-structured interview research design. Interviews were carried out in two settings that have different health-care systems: Lithuania (publicly oriented health care) and the California Bay Area, USA, (privately oriented health care). The research covers telehealth services from the point of view of different stakeholders in the health-care ecosystem.

The paper emphasises that value-in-use is essential in the case of telehealth; however, value-in-exchange is relevant to describe the relationships between public and private insurers and health-care providers. The findings point out that despite the type of health-care system, telehealth added value-in-use was perceived quite similar in both research settings, and differences could be distinguished mainly at the sub-dimensional level. The added value-in-use for patients comprises economic, functional and emotional value; physicians potentially get functional added value-in-use. The authors also highlight that patients and physicians get relational functional and social value-in-use. The added value-in-use for health-care providers consists of economic (in both research settings) and functional value (in Lithuania). The research findings show that there is still an evident lack of health insurance companies ready to recognise telehealth as a valuable service and to reimburse similarly to in cases of in-person visits. Thus, the added value-in-exchange is hardly created and this impedes co-creation of the added value-in-use.

This paper contributes to the field mainly by transferring the business research applied concept of value co-creation into the social-purpose driven health-care industry. The findings are beneficial for the health-care management stream of the literature, which considers health care as a value-based industry. To the best of the authors’ knowledge, this is the first attempt to structure the perceived telehealth added value from the perspectives of different stakeholders and two different health-care ecosystems. This paper also gives a clearer understanding of the role of the value-in-exchange in such complex ecosystems as health care and gives reasons when it could be created in synergy with co-creation of the value-in-use. In this sense, the findings are beneficial from both marketing and innovation theoretical perspectives, as they give a special attention to value creation and co-creation phenomena analysis.

The aim of this paper is to propose extended intellectual capital (IC) indicators. The study shows that the essence of IC in the context of value is residual income, its growth rate and growth rate of equity taken together. It allows creating IC measures (modified residual income and economic value added of equity) that contain these components. The study investigates the relationship between IC and market value for Russian public firms.

The authors propose modified residual income and modified economic value added of equity as IC metrics. This study tests a relationship between market value and IC to investigate suggested metrics. Static and dynamic panel data models are used. 25 companies from the MOEX Russia Index were included in the study. The study covers the period from 2014 to 2018.

The findings show a strong positive relationship between market value and IC. The results confirm that extended IC measures have a stronger connection to market value.

Firstly, these results benefit managers. They can use proposed extended IC measures as targets for the company when planning business strategy and generating business environment. Secondly, suggested IC measures can help shareholders and investors achieve their long-term goal – wealth maximization.

The value of this article is the development of IC theory and valuation. The proposed measures differ in the way that they consider the growth rates – the main determinants of value along with efficiency.