The intellectual capital effectiveness and enterprises` performance - empirical study of Polish listed companies using VAIC method

Łukasz Bryl , Szymon Truskolaski

Abstract

This article concentrates on the narrow, however very important, initial element of companies’ knowledge actions – external knowledge acquisition. It examines the use of various knowledge sources, distinguished on the basis of knowledge management literature, by companies operating in foreign markets. The article presents in-depth analyzes of particular external knowledge sources usage by businesses applying various forms of internationalization. The analyzed data come from quantitative empirical research in which almost 1300 companies have been examined. 723 of them have been engaged in operations abroad. The results show that there are specific differences in use of examined knowledge sources depending on the form of internationalization that companies use while operating in foreign markets. Enterprises using advanced internationalization forms more intensively acquire external knowledge and put greater attention to more sophisticated and costly knowledge sources.
Author Łukasz Bryl (WGM / KMSG)
Łukasz Bryl,,
- Department of International Economics
, Szymon Truskolaski (WGM / KMSG)
Szymon Truskolaski,,
- Department of International Economics
Pages933-942
Publication size in sheets0.5
Book Dermol Valerij , Trunk Aleš , Daković Goran, Smrkolj Marko (eds.): Managing Intellectual Capital and Innovation for Sustainable and Inclusive Society. Proceedings of the MakeLearn and TIIM Joint International Conference, Proceedings of the MakeLearn and TIIM International Conference, 2015, ToKnowPress , ISBN 978-961-6914-13-0, 2297 p.
Keywords in Englishintellectual capital effectiveness, human capital, VAIC method, enterprises` performance, polish stock exchange
Abstract in PolishThe question of the existence and measurement of intellectual capital (IC) in enterprises is significantly growing in importance in recent years. Researchers` attention is not only drawn to the measurement of IC absolute value, but also to the analysis of IC effectiveness. Scientists try to answer the question on the importance of intangible assets in creating company value. One of the possible methods to determine it, is the Value Added Intellectual Coefficient (VAIC) which was created in 1997 by A. Pulic from the Austrian Intellectual Capital Research Center. Theoretical intellectual capital efficiency considerations focus on issues of creating value for the company and its importance for the enterprise performance. Theoretical assumptions imply that the high efficiency of IC is positively correlated with the value of the company (measured by MV/BV ratio) and the company's performance, such as return on assets, equity and investments. However, empirical studies do not always confirm this relationship. The aim of the article was to examine the intellectual capital efficiency using the VAIC method and its impact on the market value and the performance of Polish companies listed on the Warsaw Stock Exchange from the IT industry. Research timeline covered years: 2010 - 2013. Empirical studies took into account the time delay, what answered the question of whether and with how long delay effectiveness of the individual components of VAIC (SCE, CEE and HCE) has a statistically significant effect on the value and the company's performance measured by: ROA, ROE, ATO and MV / BV.
URL http://www.toknowpress.net/ISBN/978-961-6914-13-0/papers/ML15-183.pdf
Languageen angielski
Score (nominal)0
Citation count*5 (2020-06-26)
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