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Firms need to constantly renew themselves to keep up with the pace of competition and proactively establish innovations to the markets. This requires capabilities in learning and renewing of the firm’s knowledge base, conceptualized as renewal capital of the firm. On the other hand, firms that acquire high levels of competitiveness by renewing their knowledge base also need to protect that knowledge from unwanted spillovers. This study aims to examine how renewal capital affects incremental and radical innovation performance of the firm, moderated by the firm’s protection of its strategic knowledge.

The study is based on a multi-industry survey study with a time-lagged data set, with independent variables collected in the first wave, followed by a second wave four years later for the dependent variables. The authors test the hypotheses using partial least squares structural equation modeling.

The authors find that firms’ renewal capital is positively associated with the level of incremental and radical innovation. Furthermore, the authors find that knowledge protection negatively moderates the relationship between renewal capital and incremental innovation performance of the firm. In case of radical innovation performance, similar moderating effect is not statistically supported.

With a time-lagged research design, this study study reveals the interdependent roles of renewal capital and knowledge protection for firm’s innovation performance, and provides insights of when (and when not) it would be beneficial for a firm to seek renewal and protective oriented approaches.

The objective of this study is to evaluate the key issues that how social capital augments the initiation of strategic renewal through the mediating role of entrepreneurial orientation and the moderating role of organizational flexibility. In the context of Small and Medium Enterprises (SMEs) of developing economies, the study developed and tested the theoretical model of strategic renewal for analyzing its major outputs.

This study utilized cross-sectional design and employ quantitative approach. The data were collected from the owner, managers and executive directors of pharmaceutical SMEs of Pakistan. The study used statistical analysis of correlation and regression for the analysis of data.

The study discovered that entrepreneurial orientation mediates the positive relationship of social capital and strategic renewal. Moreover, high organizational flexibility strengthens the association between social capital and strategic renewal of SMEs.

This research contributes to the body of knowledge by providing empirical evidence that how to thrive the mechanism of strategic renewal. The study further provides understanding of the effects of organizational social capital, entrepreneurial orientation and organizational flexibility on strategic renewal.

In investigating the linkage between intellectual capital (IC) and innovation, it is important not only to explore how IC as a whole is associated with organizations’ innovative performance but also to gain a deep understanding of the role of different IC components (groups of intangibles) in companies’ innovation performance, which is the purpose of this paper in the context of Serbian companies.

This research is based on survey data collected from 100 Serbian companies with at least 100 employees during 2014/2015. Six IC components were analyzed (human, structural, internal relational, external relational, renewal and entrepreneurial) in terms of their effect on innovation performance. Analyses were conducted using structural equation modeling and correlation analysis.

Findings demonstrate that renewal capital, internal relational capital and structural capital have statistically significant positive effects on overall innovative performance in Serbian companies.

The outcomes reveal potential and barriers within IC that are crucial to innovation performance in Serbian companies. In this way, this study enables a deeper understanding of intangible drivers of innovation and highlights possibilities to foster intangible innovation potential in Serbian companies.

As context (economic and cultural) has emerged as a relevant factor in researching IC, this study is original in investigating IC effect on innovation within the Serbian business environment. Additionally, the broad sexpartite taxonomy of IC contributes to a wider understanding of knowledge and its linkages to innovation.

Academics and practitioners around the world have shown interest in what constitutes the relevant intellectual capital (IC) in firms. However, studies have largely neglected to examine whether IC has identical or different structural elements in various parts of the world. The purpose of this paper is to suggest that country-specific institutional structures may impact the perception of IC, and empirically analyse whether differences exist between five countries drawing on the institutional theory.

This study tests for the differences in the underlying categorizations of IC in a sample consisting of 708 firms across five countries. Confirmatory factor analysis and comparison of different possible IC models are conducted to empirically examine the IC structure.

The results demonstrate that IC has predominantly the same underlying elements across the examined countries. However, trust capital in Finland and renewal capital in Serbia are structurally different compared to other countries.

Institutional theory and multinational corporate superculture can explain the similarity in the IC structures across countries. Specifically, globalized markets carry institutionalized rules, norms, and expectations for the participating firms; under the influence of this superculture, the firms begin to assimilate. Conversely, the differences suggest that some country- and culture-specific differences remain even during the transition to global markets.

This study is among the first to question the assumption that IC has identical structural elements across the world, and merges theories of IC and institutions to explain the possible origins of these differences.

To propose a new investment-income valuation model by real options approach (ROA) for old community renewal (OCR) projects, which could help the government attract private capital's participation.

The new model is proposed by identifying the types of options private capital has in the OCR project, selecting the option model most suitable for private capital investment decisions, improving the valuation model through the triangular fuzzy numbers to take into account the uncertainty and flexibility, and demonstrating the feasibility of the calculation model through an actual OCR project case.

The new model can valuate OCR projects more accurately based on considering uncertainty and flexibility, compared with conventional methods that often underestimate the value of OCR projects.

The investment-income of OCR projects shall be re-valuated from the lens of real options, which could help reveal more real benefits beyond the capital growth of OCR projects, enable the government to attract private capital's investment in OCR, and alleviate government fiscal pressure.

The proposed OCR-oriented investment-income valuation model systematically analyzes the applicability of real option value (ROV) to OCR projects, innovatively integrates the ROV and the net present value (NPV) as expanded net present value (ENPV), and accurately evaluate real benefits in comparison with existing models. Furthermore, the newly proposed model holds the potential to be transferred to various social welfare projects as a tool to attract private capital's participation.

The purpose of this paper is to explain the difference of national intellectual capital from the perspective of national culture and to illustrate how national leaders or policy-makers increase their country’s national intellectual capital.

The study conducts a descriptive analysis combining the research outcome of Lin and Edvinsson’s (2011) national intellectual capital with Hofstede’s (2001) national culture. The research findings and results of these two studies were compared before running a t-test to determine whether countries with relatively high national intellectual capital have a higher level of certain national culture.

Based on the matching data of 26 countries, the study proposed that countries with certain national culture possess lower intellectual capital. Countries with high intellectual capital tend to exhibit a common culture of low power distance, weak uncertainty avoidance, and individualism.

The study suggests that for a country to enhance its overall intellectual capital, it should strive for a culture of equality, freedom and safety, and an active competitive environment, while avoiding social class distance in order to eliminate insecurity. The study proposes some suggestions to advance the countries’ national intellectual capital. In addition to admit the weakness of their intellectual capital due to cultural reasons, these countries could go a step further to increase their own national intellectual capital by increasing or enhancing certain national cultures if possible.

The study compares national intellectual capital and national culture and finds the relationship between these two sets of constructs. This study proves that national culture not only influences the strategies or behaviors of business level but also the competitiveness of national levels.

The intellectual capital of a nation (or a region of nations) requires the articulation of a system of variables that helps to uncover and manage the invisible wealth of a country. Most importantly, an emphasis on human capital allows for a better understanding of the hidden values, individuals, enterprises, institutions, and communities that are both current and potential future sources of intellectual wealth. This paper endeavours to address the five research questions. The main outcomes of this paper are the development of a national intellectual capital measurement methodology and index. The NICI is also used within a structural equation model to test several hypotheses related to national intellectual capital development.

This study proposes a model to measure national intellectual capital that can be easily replicated for trend analysis. Key dimensions include human capital, market capital, process capital, renewal capital, and financial capital.

With longitudinal data spanning the period from 1994 to 2005, this study compares the national intellectual capital of 40 countries based on an IC map of 29 indicators.

The overall intellectual capital ranking of the five Nordic countries is: 1 Sweden, 2 Finland, (3 Switzerland), 4 Denmark, (5 USA), 6 Norway, and 7 Iceland in the 40‐country list.

The results confirm the general perception that the Nordic countries have a high degree of national intellectual capital. The research findings clarify the status of national intellectual capital of the Nordic countries, thereby providing valuable information for stakeholders and policy makers to formulate effective strategies for building sustainable national competitiveness. In order to do this, it is necessary to elaborate on the proposed IC framework and to gather relevant and valid IC indicators.

The results of this study can provide a map for the Nordic countries – and other countries – as they prepare for future challenges, such as those associated with globalization and its implications on potential wealth creation. A deeper study of why and how might be a part of forthcoming studies.

This study aims to analyse the complementary role of structural and relational capital (as the outcomes of codification and personalisation knowledge management strategies) in renewal capital and innovation in high- and low-tech companies.

The primary data, which were collected through a structured questionnaire from 180 Spanish companies, are analysed using structural equation modelling based on partial least squares.

Overall, the study offers three fundamental findings. First, it demonstrates the outstanding role of renewal capital as an intellectual capital (IC) component; second, it provides a conceptual analysis of the connection between knowledge management strategies and IC; and third, it highlights the necessity of considering the technological level of the firm as a contingency variable affecting the IC–innovation relationship.

The study has three apparent limitations: The sample of firms is restricted to Spanish companies, data concerning the main study variables were collected from only one person at each firm, and not all of the possible components of IC were included in the research model.

Business practitioners can find useful guidelines for making efficient use of knowledge resources when boosting innovation performance, depending on the technological level of their firms.

Although many studies have tried to disentangle the IC–innovation connection, this study is unique, as it considers knowledge management strategies, a novel combination of IC components and the level of technological sophistication in the same analysis.

As service companies are occupying an increasingly significant place as drivers of economic growth, there is a pressing need to understand their peculiarities in order to facilitate their effective management and governance. One important area in which this kind of understanding is lacking is intellectual capital (IC) and knowledge management. Although intellectual capital has become the key value driver for all types of organizations, there is a lack of systematic research on whether there are fundamental differences in the IC of service‐oriented versus product‐oriented companies. In an attempt to bridge this gap the paper aims to examine the main differences in IC stocks, creation, management and protection mechanisms between service‐oriented and product‐oriented companies.

The analysis is based on empirical evidence collected from 418 respondents representing HR and R&D functions in 335 Finnish companies.

The results demonstrate that service‐oriented companies possess more human capital and renewal capital, and focus more on IC creation than product‐oriented companies. In addition, IC protection is stronger in product‐oriented companies. As companies move towards a service orientation they need to change their approach to IC stocks and management, and in this acknowledging the differences between a service and a product orientation is the first step.

The results presented in this study shed new light on the differences between service‐oriented and product‐oriented companies in terms of the possession, management, creation and protection of intellectual capital.