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Article
Publication date: 1 November 1996

George Robinson and Brian H. Kleiner

Intellectual capital, as used here, is a concept that deals with intellectual property concepts, like patents and licences, but also includes less tangible assets like…

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Abstract

Intellectual capital, as used here, is a concept that deals with intellectual property concepts, like patents and licences, but also includes less tangible assets like know‐how, skills and information systems. The need to measure the amount of intellectual capital in an organization has grown in importance. The worth or value of an organization cannot be given by the values in the balance sheet alone. Just as the use of discounted cash‐flow analysis is being accepted as a more reliable measure of value and will eventually replace other accounting‐based valuations, the value of intellectual capital will need to be measured and determined. Intellectual capital will also be a useful concept for setting corporate goals and strategies. Describes some current conceptions of intellectual capital and looks at ways of measuring intellectual capital. Compares intellectual capital valuation with financial cash flow valuation. Suggests that additional studies regarding the measurement of intellectual capital are still needed, and recommends, when good measures of intellectual capital are not available, the use of indicators as a means of indicating that intellectual capital is present or growing.

Details

Managerial Auditing Journal, vol. 11 no. 8
Type: Research Article
ISSN: 0268-6902

Keywords

Article
Publication date: 1 March 2005

Patricia Ordoñez de Pablos

In 1994 the Swedish insurance company Skandia published the first intellectual capital report. Following these steps, other European companies decided to report on…

3558

Abstract

Purpose

In 1994 the Swedish insurance company Skandia published the first intellectual capital report. Following these steps, other European companies decided to report on intangible resources. The Indian company, Reliance Industries Limited, published the first Indian intellectual capital report in 1997. Later other Indian companies also started to build and publish this new type of corporate report. Now the question is: are there any differences between Indian intellectual capital reports and European intellectual capital reports? If so, what ideas can be derived from these differences?

Design/methodology/approach

A case study was carried out to analyse how Indian firms build the intellectual capital report. In particular three leading Indian firms were selected: Reliance Industries Limited, Balrampur Chini Mills, and Shree Cement Limited.

Findings

The paper offers insights into how leading Indian firms measure and report knowledge‐based resources. The Indian intellectual capital report does not focus on the business model, values, mission and vision and/or knowledge management issues as in the case of European intellectual capital reports. It presents a “narrative” style. This is a major distinctive feature of Indian reports.

Practical implications

The case study may help other companies to build the intellectual capital report. As the paper also provides a comparative view of Indian and European intellectual capital reports, managers can decide which approach better fits their firms.

Originality/value

Most papers on intellectual capital measuring and reporting focus on European firms. However, this pioneer paper offers some insights into the reporting of intellectual capital in Indian companies.

Details

Journal of Intellectual Capital, vol. 6 no. 1
Type: Research Article
ISSN: 1469-1930

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Article
Publication date: 1 March 2003

Per Nikolaj Bukh

Many firms have started disclosing information on intellectual capital. Financial analysts, however, ask for more disclosure related to strategy and often find intellectual

4826

Abstract

Many firms have started disclosing information on intellectual capital. Financial analysts, however, ask for more disclosure related to strategy and often find intellectual capital statement less relevant. Drawing on results from a study of disclosure of information on intellectual capital in Danish initial public offering (IPO) prospectuses, this commentary argues that the perceived irrelevance of intellectual capital is somewhat paradoxical since intellectual capital reports and recent prospectuses share remarkable similarities with respect to the intellectual capital indicators disclosed. Further, the commentary argues that, for intellectual capital disclosure to be perceived as relevant from a capital market perspective, the information should be disclosed as an integral part of a framework illuminating the value creation processes of the firm. The emerging practice with respect to intellectual capital offers such a framework for disclosing the business model of the knowledge‐based company.

Details

Accounting, Auditing & Accountability Journal, vol. 16 no. 1
Type: Research Article
ISSN: 0951-3574

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Article
Publication date: 1 June 2002

Sven C. Völpel

Provides both scientific and practical insights into the creation of strategic important intellectual capital. Decontextualizes outcomes from the field of strategy process…

6094

Abstract

Provides both scientific and practical insights into the creation of strategic important intellectual capital. Decontextualizes outcomes from the field of strategy process research in order to apply the findings to, and develop them for, the creation of strategic intellectual capital. By playing this changed Sprachspiel after Wittgenstein, leads to a multilevel model of the creation of strategic intellectual capital. Concludes with propositions in the form of hypotheses as managerial implications and suggestions for further empirical research.

Details

Journal of Intellectual Capital, vol. 3 no. 2
Type: Research Article
ISSN: 1469-1930

Keywords

Article
Publication date: 25 July 2008

Magdi El‐Bannany

The purpose of this paper is to investigate the determinants of intellectual capital performance in the UK banks over the period 1999‐2005.

5426

Abstract

Purpose

The purpose of this paper is to investigate the determinants of intellectual capital performance in the UK banks over the period 1999‐2005.

Design/methodology/approach

Multiple regression analysis is used to test the relationship between the intellectual capital performance as a dependent variable and certain independent variables.

Findings

Results indicate that the standard variables, bank profitability and bank risk, are important. The results also show that investment in information technology (IT) systems, bank efficiency, barriers to entry and efficiency of investment in intellectual capital variables, which have not been considered in previous studies, have a significant impact on intellectual capital performance.

Research limitations/implications

More evidence is needed on the determinants of intellectual capital performance before any generalisation of the results can be made. In addition, the empirical tests were conducted only on the Major British Banks Group over the period 1999‐2005 and hence the results of the study cannot be assumed to extend beyond this group of banks or to different study periods.

Practical implications

The study might help the banking regulators in addressing the factors affecting intellectual capital performance to take actions towards developing their performance and in turn maximise their value creation.

Originality/value

This paper adds to the literature on the determinants of intellectual capital performance in banks. In particular, it tests the theories that investment in IT systems, bank efficiency, barriers to entry and efficiency of investment in intellectual capital have impact on intellectual capital performance.

Details

Journal of Intellectual Capital, vol. 9 no. 3
Type: Research Article
ISSN: 1469-1930

Keywords

Article
Publication date: 1 September 2001

S. Mitchell Williams

Breaks with the prior literature on intellectual capital disclosure practices in two major ways. First, provides a longitudinal examination of intellectual capital

5533

Abstract

Breaks with the prior literature on intellectual capital disclosure practices in two major ways. First, provides a longitudinal examination of intellectual capital disclosure practices in the annual reports of 31 FTSE 100 listed companies from 1996‐2000. Second, investigates the relationship between intellectual capital performance and the extent of intellectual capital disclosure. Between 1996 and 2000 the quantity of intellectual capital disclosure increased. Empirical findings did not indicate a systematic relationship between intellectual capital performance and the quantity of disclosure during the survey period. Results, however, suggest that if intellectual capital performance is too high the amount of disclosure is reduced. This negative association may support the suggestion that firms reduce intellectual capital disclosures when performance reaches a threshold level for fear of competitive advantage being lost. Leverage, industry exposure and listing status was also found to have an influence on the quantity of disclosure.

Details

Journal of Intellectual Capital, vol. 2 no. 3
Type: Research Article
ISSN: 1469-1930

Keywords

Book part
Publication date: 31 December 2010

This study gave rise to four policy recommendations. First, firms are encouraged to use both narrative and visual forms of disclosure to complement one another in…

Abstract

This study gave rise to four policy recommendations. First, firms are encouraged to use both narrative and visual forms of disclosure to complement one another in disclosing intellectual capital resource items on websites. Secondly, it is important to conduct an awareness program about intellectual capital disclosure on websites so that small firms become aware of the positive impact such disclosure can have in enhancing corporate reputation. Thirdly, firms should prepare guidelines for intellectual capital disclosure on websites so that they can favour a best practice model. Finally, fostering a dialogue between stakeholders and the accounting regulators can help to streamline intellectual capital disclosure for more value relevant, forward-looking information. These points are elaborated in the following.

Details

Reputation Building, Website Disclosure and the Case of Intellectual Capital
Type: Book
ISBN: 978-0-85724-506-9

Abstract

Details

Intellectual Capital and Public Sector Performance
Type: Book
ISBN: 978-1-78350-169-4

Book part
Publication date: 18 November 2013

Abstract

Details

Intellectual Capital and Public Sector Performance
Type: Book
ISBN: 978-1-78350-169-4

Article
Publication date: 1 August 2004

F. Tunc Bozbura

The purpose of this paper is to define the elements of intellectual capital of firms in Turkey and to empirically investigate the relationship between intellectual capital

3082

Abstract

The purpose of this paper is to define the elements of intellectual capital of firms in Turkey and to empirically investigate the relationship between intellectual capital and market value of firms in Istanbul Stock Exchange. To create a suitable intellectual capital measurement model for this study, a wide literature research was made. In almost every created intellectual capital measurement model, elements of intellectual capital are defined in three dimensions; i.e. human capital, structural capital and relation capital. For the research, an intellectual capital measurement model is created and four hypotheses are defined. The main conclusions from this study are that: human capital and relation capital of firms have a positive relationship with market/book value of firms in Turkey; and structural capital of firms in Turkey has a correlation with human and relation capital.

Details

The Learning Organization, vol. 11 no. 4/5
Type: Research Article
ISSN: 0969-6474

Keywords

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