Search results

1 – 10 of over 11000
Article
Publication date: 12 January 2015

Pirjo Ståhle, Sten Ståhle and Carol Y.Y. Lin

The purpose of this paper is to examine to what extent national intangible capital (NIC) explains GDP growth and to assess its impact on GDP formation in different countries. The…

Abstract

Purpose

The purpose of this paper is to examine to what extent national intangible capital (NIC) explains GDP growth and to assess its impact on GDP formation in different countries. The paper brings a new perspective to explaining hidden economic drivers.

Design/methodology/approach

The paper introduces a new theoretically and computationally justified method, so-called ELSS model that is based on expansion and augmentation of the Cobb-Douglas production function with a wide range of NIC indicators. The method is applied by using the database that contains NIC indices for 48 countries covering the period from 2001 to 2011.

Findings

The results show that intangible capital accounts for 45 per cent of world GDP. The figure for the USA is 70.3 per cent and for the European Union 51.6 per cent. The Nordic countries stand out with a higher figure at 64.7 per cent, with NIC contributing to 72.5 per cent of GDP in Sweden, 69.7 per cent in Finland and 67.6 per cent in Denmark.

Research limitations/implications

The expanded Cobb-Douglas production function is sensitive to valuations of capital inputs and sensitive to estimates of production shares for various augmenting and expanding inputs. Therefore further work is needed to develop and test methodologies for the assessment of all of these.

Practical implications

ELSS production function helps to give a realistic picture of the value and impact of NIC and accordingly gives evidence for accurate investment decisions for the future.

Social implications

The method will help policy makers figure out what steps are needed to reduce the cross-country NIC differences.

Originality/value

The authors have uncovered the value of NIC beyond monetary inputs, and at the same time taken account of country specifics. The ELSS formula is comprehensive yet not too complicated to replicate. The approach significantly contributes to the development of the current research tradition into intangibles.

Details

Journal of Intellectual Capital, vol. 16 no. 1
Type: Research Article
ISSN: 1469-1930

Keywords

Article
Publication date: 13 April 2012

Sten Ståhle and Pirjo Ståhle

The paper aims to provide an assessment of a tool for the macro‐level measurement of intellectual capital developed by Corrado, Hulten and Sichel (CHS model).

1149

Abstract

Purpose

The paper aims to provide an assessment of a tool for the macro‐level measurement of intellectual capital developed by Corrado, Hulten and Sichel (CHS model).

Design/methodology/approach

The aim paper assesses the validity and accuracy of the CHS model in measuring intellectual capital in general and to see whether it has application at the national economy level.

Findings

The model's new accounting ideas have great potential, but some serious question marks remain. The key advantage of the model is that it accumulates capitalized intangibles over time. On the other hand, the elements of intellectual capital, i.e. spending on innovative property and economic competencies, software and other computerized information, are too vague and problematic.

Originality/value

CHS model is a rather frequently used method for measuring intellectual capital. However, its validity has not been under critical analysis or examination earlier. Therefore, the results of this paper bring important and valuable information into reliable measurement of intellectual capital and are a step forward to develop more valid methodologies within intellectual capital research.

Details

Journal of Intellectual Capital, vol. 13 no. 2
Type: Research Article
ISSN: 1469-1930

Keywords

Open Access
Article
Publication date: 3 April 2020

Felix Roth

This paper aims to revisit the relationship between intangible capital and labour productivity growth using the largest, up-to-date macro database (2000–2015) available to…

1524

Abstract

Purpose

This paper aims to revisit the relationship between intangible capital and labour productivity growth using the largest, up-to-date macro database (2000–2015) available to corroborate the econometric findings of earlier work and to generate novel econometric evidence by accounting for times of crisis (2008–2013) and economic recovery (2014–2015).

Design/methodology/approach

To achieve these aims, this paper employs a cross-country growth accounting econometric estimation approach using the largest, up-to-date database available encompassing 16 EU countries over the period 2000–2015. The paper accounts for times of crisis (2008–2013) and of economic recovery (2014–2015). It separately estimates the contribution of three distinct dimensions of intangible capital: (1) computerized information, (2) innovative property and (3) economic competencies.

Findings

First, when accounting for intangibles, the paper finds that these intangibles have become the dominant source of labour productivity growth in the EU, explaining up to 66 percent of growth. Second, when accounting for times of crisis (2008–2013), in contrast to tangible capital, the paper detects a solid positive relationship between intangibles and labour productivity growth. Third, when accounting for the economic recovery (2014–2015), the paper finds a highly significant and remarkably strong relationship between intangible capital and labour productivity growth.

Originality/value

This paper corroborates the importance of intangibles for labour productivity growth and thereby underlines the necessity to incorporate intangibles into today's national accounting frameworks in order to correctly depict the levels of capital investment being made in European economies. These levels are significantly higher than those currently reflected in the official statistics.

Details

Journal of Intellectual Capital, vol. 21 no. 5
Type: Research Article
ISSN: 1469-1930

Keywords

Article
Publication date: 1 April 2003

Georgios I. Zekos

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some…

86938

Abstract

Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

Details

Managerial Law, vol. 45 no. 1/2
Type: Research Article
ISSN: 0309-0558

Keywords

Article
Publication date: 11 May 2010

Iain Clacher

The purpose of this paper is to review the issues, difficulties, importance for public policy and current initiatives associated with developing a more comprehensive national…

1788

Abstract

Purpose

The purpose of this paper is to review the issues, difficulties, importance for public policy and current initiatives associated with developing a more comprehensive national accounting framework in relation to public and private sector investments in intangible assets.

Design/methodology/approach

The paper analyses and evaluates the most salient statistics on intangible asset investments and the implications for public and private sector policy makers.

Findings

The UK economy has a high representation of firms and activities that invest in intangible assets that are not traditionally included in national accounts and that their exclusion has a significant impact on the UK's apparent growth and productivity performance.

Originality/value

The paper discusses a range of measurement and other difficulties in significantly developing a comprehensive national accounting framework that fully incorporates the impact of intangible asset investments upon national growth and productivity metrics.

Details

Journal of Financial Regulation and Compliance, vol. 18 no. 2
Type: Research Article
ISSN: 1358-1988

Keywords

Article
Publication date: 21 October 2013

Romilio Labra and M. Paloma Sánchez

The purpose of this paper is to review the literature on national intellectual capital (NIC) in order to identify and compare the main models to measure and report IC at the…

1428

Abstract

Purpose

The purpose of this paper is to review the literature on national intellectual capital (NIC) in order to identify and compare the main models to measure and report IC at the country level and to examine the differences from and similarities to the IC approach for firms.

Design/methodology/approach

A systematic literature review was carried out using three scientific databases and the five most important journals. Additional information was also reviewed. The search covered the period from January 2000 to December 2012. The models to measure intangibles were analyzed and compared using qualitative and quantitative techniques.

Findings

The literature review shows that although such literature is still nascent and relatively scarce, there is growing interest in measuring, reporting, and managing IC for countries as a whole. NIC studies have been published in a small number of journals and more theoretical work is required. There are two main types of methods to assess and report on NIC. Despite the differences among models, their findings tend to converge.

Practical implications

The information obtained contributes to the selection of models. This selection can be based on pragmatic considerations, such as the availability of data.

Originality/value

There are several models to evaluate intangibles at the country level and different ways to measure them. The paper offers comparative information about the models to aid in selection for managing intangibles at the country level.

Details

Journal of Intellectual Capital, vol. 14 no. 4
Type: Research Article
ISSN: 1469-1930

Keywords

Article
Publication date: 28 June 2018

Eugénia Pedro, João Leitão and Helena Alves

For better mapping the path of intellectual capital (IC) research, the purpose of this paper is to selectively review empirical studies of IC published, and identify theories…

2544

Abstract

Purpose

For better mapping the path of intellectual capital (IC) research, the purpose of this paper is to selectively review empirical studies of IC published, and identify theories, components and three dimensions of analysis: national IC (NIC), regional IC (RIC) and organizational IC (OIC).

Design/methodology/approach

The systematic literature review (SLR) subject to analysis is based on empirical studies made between 1960 and 2016, and focuses on three dimensions of analysis: NIC, RIC and OIC. Four research questions were designed, using the following databases, namely, Web of Science, Scopus and Google Scholar, for data collection purposes.

Findings

The SLR unveils a multidimensional taxonomy for measuring and classifying the type of IC applicable to the different levels of analysis and provides some recommendations for future studies of NIC, RIC and OIC, by outlining the need for clear definitions of components and measures of IC and identifying strengths, limitations and future research avenues.

Originality/value

In order to fill the gap found in the literature and the non-existence of a study clarifying the multiple dimensions of analysis of IC, this SLR makes a twofold, original contribution to the literature on management: providing an SLR of the main empirical studies dealing with different units of analysis; and identifying a multidimensional taxonomy for measuring and classifying the type of IC applicable to the different levels of analysis.

Details

Management Decision, vol. 56 no. 11
Type: Research Article
ISSN: 0025-1747

Keywords

Article
Publication date: 20 March 2017

Elena Shakina, Angel Barajas and Mariya Molodchik

The paper aims to explore factors of the low competitiveness of Russian companies assuming that the gap in the endowment of intangible resources is responsible for the gap in…

Abstract

Purpose

The paper aims to explore factors of the low competitiveness of Russian companies assuming that the gap in the endowment of intangible resources is responsible for the gap in competitiveness.

Design/methodology/approach

The framework of resources-based view is used to examine causality between the resources used and competitiveness measured by economic value added (EVA). Controlling for the most relevant factors, the authors place an emphasis on those intangible resources that are considered in the literature as being the most critical for Russian companies when contending for global competitiveness: productivity, strategic long-term orientation of companies, quality of human capital, innovative behavior of companies, foreign investments and corporate networks. The data set of more than 1,000 Russian companies benchmarked to the data set of more than 1,600 European companies during a period of 10 years: 2004-2013 is analyzed to test the hypothesis put forward.

Findings

Causal effect of the gap in intangible endowment and competitiveness of Russian companies compared with European rivals is revealed. According to our analysis, gaps in productivity, strategy implementation, qualifications of the board of directors and company location play critical roles in the global competitiveness of Russian companies. Meanwhile, underinvestment in structural resources, such as enterprise resource planning (ERP) systems and other intangible assets, are considered positive factors that reduce gaps in EVA.

Originality/value

The paper introduces original approach for studying the gap in performance caused by the gap in used resources.

Details

Measuring Business Excellence, vol. 21 no. 1
Type: Research Article
ISSN: 1368-3047

Keywords

Article
Publication date: 29 March 2019

Mariia A. Molodchik, Carlos Maria Jardon and Anna Andreevna Bykova

The purpose of this paper is to present a comparative analysis of the contribution made by intellectual capital (IC) to company performance at company and industry levels in the…

Abstract

Purpose

The purpose of this paper is to present a comparative analysis of the contribution made by intellectual capital (IC) to company performance at company and industry levels in the Russian context. It examines the performance effect of IC using a multilevel approach.

Design/methodology/approach

The study combines the resource- and industry-based view. It decomposes performance determinants into two levels of analysis in such a way that it is assumed that IC at industry and company levels has a significant simultaneous impact on company performance. The empirical part of the study uses a database of 1,096 Russian public companies, covering the period of 2004–2014 and divided into 19 industries. The econometric methodology uses hierarchical linear models to estimate the effect of IC in the different levels of analysis.

Findings

The study confirms that the strength of the performance effect of IC is contingent on the industry. Furthermore, the study reveals that industry-level endowment with regard to intangibles contributes more to company performance in comparison with a company-level endowment, in the context of the transitional economy.

Originality/value

The study proposes a novel methodological approach to the performance effect of IC in the Russian context, studying the differences between industry and company effect. The study provides insights to better understand the importance of the politics of IC at the different levels (industry and company) and presents a new empirical enquiry into strategic behaviour regarding IC in Russia.

Details

Journal of Intellectual Capital, vol. 20 no. 3
Type: Research Article
ISSN: 1469-1930

Keywords

Article
Publication date: 9 July 2018

Carlos Fernández Jardón, Mariia Molodchik and Sofiia Paklina

The purpose of this paper is to explore strategy-specific competencies with regard to intangibles and provides empirical evidence of intangible-based strategy groups for Russian…

Abstract

Purpose

The purpose of this paper is to explore strategy-specific competencies with regard to intangibles and provides empirical evidence of intangible-based strategy groups for Russian companies. Additionally, the study examines the link between intangible-based strategy and company performance.

Design/methodology/approach

The paper uses strategic group theory and the resource-based view framework to identify similar strategic behaviour of companies by employment of intangibles. In line with the intellectual capital concept, the study provides a cluster analysis that considers four types of intangibles: human, relational, innovation and process capital. These are measured through publicly available data using principal component analysis. The empirical part of the study uses a database of 1,096 Russian public companies, which covers the period 2004–2014.

Findings

As a result, the study reveals three profiles of strategic behaviour with regard to intangibles. The majority of Russian public companies (63.5 per cent) are Generics and pursue a non-intensive intangible strategy. Only 13.3 per cent of companies constitute the intangible-intensive profile by having endowment of all intellectual resources higher than the sample average. The remaining companies (23.2 per cent) also pursue an intangible-intensive strategy with a focus on innovation capital. Intangible-intensive strategic groups outperform Generics.

Originality/value

The study proposes a novel intangible-based strategy continuum, which straddles two polar strategies: generic and smart. The study introduces insights to better understand the differences in performance across intangible-intensive strategies and presents a new empirical inquiry into strategic behaviour with regard to intangibles in Russia.

Details

Management Decision, vol. 56 no. 11
Type: Research Article
ISSN: 0025-1747

Keywords

1 – 10 of over 11000