CONCEPTUAL PRINCIPLES OF ACHIEVING INTELLECTUAL LEADERSHIP

2021 ◽  
Vol 6 (2) ◽  
pp. 100-104
Author(s):  
Liudmyla Tsymbal

The article identifies the key conceptual foundations for the formation of intellectual leadership of economic entities, including countries as specific actors in the global economy. Thorough preconditions for increasing the level of economic development and the impact of education have been identified. It is determined that historical concepts and modern realities of economic activity only actualize the role of education and enlightenment in the economic development of the national economy and ensuring its competitiveness. The strategies of increasing the competitiveness of individual countries of the world are analyzed, their key priorities in the conditions of formation of the knowledge economy are determined. The evolution of views on the role of human and intellectual capital in increasing the welfare of countries, the impact on GDP and other macroeconomic indicators is described. The ratings of countries are analyzed, in particular by the level of investment in intellectual capital and the structure of their GDP, which confirms the dominance of science-intensive economic activities. In addition, it was determined that the leading countries are characterized by increasing the role of knowledge-intensive activities, increasing the share of intangible assets, redistribution of capital of leading international companies and increasing research spending, increasing investment in human and intellectual capital, increasing exports of high-tech products. Analytical assessment confirms the advanced development of science-intensive industries in countries with developed economies, which creates the need for training and retraining of specialists needed for such industries. In modern conditions, the educational process ceases to be predominantly the prerogative of young people, and becomes a lifelong process, which increases spending on education in developed countries, but without denying the significant asymmetries on this indicator. Research confirms the direct relationship between the quality of human and physical capital and economic development, which is typical of highly developed countries, one of the main reasons for the development lag of the poorest countries. In addition, the article substantiates the key factors of intellectual leadership and their impact on the development of economic development strategies.

Author(s):  
Paul Stevens

This chapter is concerned with the role of oil and gas in the economic development of the global economy. It focuses on the context in which established and newer oil and gas producers in developing countries must frame their policies to optimize the benefits of such resources. It outlines a history of the issue over the last twenty-five years. It considers oil and gas as factor inputs, their role in global trade, the role of oil prices in the macroeconomy and the impact of the geopolitics of oil and gas. It then considers various conventional views of the future of oil and gas in the primary energy mix. Finally, it challenges the drivers behind these conventional views of the future with an emphasis on why they may prove to be different from what is expected and how this may change the context in which producers must frame their policy responses.


InterConf ◽  
2021 ◽  
pp. 54-59
Author(s):  
Bohdana Hunko

The paper analyzes the role of Industry 4.0 in the process of overcoming the global economy from the crisis situation associated with the total Covid-19 pandemic. The aspect of economic profitability of using the technologies of the fourth industrial revolution to improve world economic development in the context of the Covid-19 pandemic was also identified. The author identified the positive and negative consequences of the involvement of technology Industry 4.0, on the basis of which a number of recommendations for small and medium-sized businesses were formed in order to quickly overcome the negative effects of the crisis. Based on the work, the author formulated a number of trends and prospects for global economic development, taking into account the current conditions of the Covid-19 pandemic.


2020 ◽  
Vol 28 (3) ◽  
pp. 3-20
Author(s):  
Berrak Bahadir ◽  
S. Cem Bahadir

Firms invest in brand capital through advertising. Financial constraints hinder firms’ ability to fund their investment projects. Empirical studies in the finance literature suggest that firms’ access to external financial resources, labeled “financial development,” affects their investment behavior. The authors take the view of advertising spending as investment in brands and study the effect of financial development on advertising spending at the country level using a panel of 59 developing and developed countries during 1990–2016. The results suggest that financial development has a positive and significant effect on advertising spending, and this effect is stronger in countries with a low level of economic development. Furthermore, the authors investigate the role of national culture dimensions including uncertainty avoidance, long-term orientation, collectivism, masculinity, and power distance in the relationship between financial development and advertising. Overall, the results provide evidence that the impact of financial development on advertising spending depends on the national culture dimensions.


2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Jian Xu ◽  
Jingsuo Li

PurposeThe purpose of this paper is to examine the impact of intellectual capital (IC) and its components (human, structural and relational capitals) on the performance of manufacturing listed companies in China. This paper also investigates the impacts of company ownership, industry attributes and region on the IC-performance relationship.Design/methodology/approachThe study uses the data of 953 manufacturing companies listed on the Shanghai and Shenzhen Stock Exchanges over the period 2012–2016. The modified value-added intellectual coefficient (MVAIC) model is applied to measure IC efficiency. Finally, multiple regression analysis is employed to test the research hypotheses.FindingsThis study reveals that IC can enhance firm performance in China's manufacturing sector. Overall, earnings are affected by physical capital, human capital (HC) and structural capital (SC), and profitability and productivity are influenced by physical capital, HC, SC and relational capital. Physical capital is the most influential contributor to firm performance. In addition, state-owned enterprises have a greater impact of IC on firm performance than private-owned enterprises; high-tech manufacturing companies have higher IC performance than non-high-tech manufacturing companies; manufacturing companies in China's eastern region have higher IC performance than the counterparts in central and western regions.Practical implicationsThe findings may help managers, stakeholders and policymakers in developing countries to effectively and efficiently manage their IC resources.Originality/valueThis is the first study to evaluate IC and its relationship with firm performance among Chinese manufacturing listed companies using the MVAIC model.


2020 ◽  
Vol 74 ◽  
pp. 06013
Author(s):  
Tatiana Kotcofana ◽  
Armen Altunyan ◽  
Viktoria Bazzhina

The article discusses the impact of the level of monopolization of markets on the sustainability of economic development and, above all, on the development of inflationary processes in terms of the reproduction approach in the global economy. The purpose of the article is to show the key role of monopolism in the genesis of inflation and its negative impact on the sustainability of economic development. The article uses a reproductive approach to the analysis of economic phenomena and processes. Using dialectical materialistic and concrete historical methods, it is shown how monopolism contributes to the development of inflation at all stages of the reproductive process. So, in Russia throughout the entire period of reforms, with the exception of individual years, the producer price index of industrial products grew faster than the consumer price index, and prices in more monopolized industries grew much faster than in less monopolized ones, which confirms the important the role of monopolies in the unwinding of the inflationary process.


2005 ◽  
Vol 55 (2) ◽  
pp. 201-221 ◽  
Author(s):  
Andrea Szalavetz

This paper discusses the relation between the quality and quantity indicators of physical capital and modernisation. While international academic literature emphasises the role of intangible factors enabling technology generation and absorption rather than that of physical capital accumulation, this paper argues that the quantity and quality of physical capital are important modernisation factors, particularly in the case of small, undercapitalised countries that recently integrated into the world economy. The paper shows that in Hungary, as opposed to developed countries, the technological upgrading of capital assets was not necessarily accompanied by the upgrading of human capital i.e. the thesis of capital skill complementarity did not apply to the first decade of transformation and capital accumulation in Hungary. Finally, the paper shows that there are large differences between the average technological levels of individual industries. The dualism of the Hungarian economy, which is also manifest in terms of differences in the size of individual industries' technological gaps, is a disadvantage from the point of view of competitiveness. The increasing differences in the size of the technological gaps can be explained not only with industry-specific factors, but also with the weakness of technology and regional development policies, as well as with institutional deficiencies.


2020 ◽  
Vol 16 (4) ◽  
pp. 745-758
Author(s):  
S.N. Larin ◽  
E.Yu. Khrustalev ◽  
N.V. Noakk

Subject. Currently, as the global economy evolves, its innovative components should demonstrate a tendency of accelerated growth as intellectual capital, information technologies, increasing knowledge and digitization of mushrooming production processes. Nowadays, intellectual capital is one of the economic development drivers. However, the economic community is found to have no generally accepted wording of the concept, thus laying the basis for this article. Objectives. The study sums up the analysis of approaches used by the Russian and foreign economists to determining the economic substance of intellectual capital. We also identify the importance of human capital as its components and specify the definition of the concept. Methods. The article overviews and analyzes proceedings by the most renowned authors, which substantiate how the economic substance of intellectual capital should be unveiled, and suggest its definitions. Results. We specified the definition of intellectual capital concerning the current economic development. We suggest integrating a new component into intellectual capital, such as intellectual property, which includes products of intellectual activity and intangible assets. They can be owned by the entity or other legal entities and individuals, including some employees of the entity. Conclusions and Relevance. The specified definition of intellectual capital will help address issues of sustainable economic development and ensure the competitiveness of the Russian entities nationwide and worldwide, since it directly contributes to intellectual capital and its components.


Societies ◽  
2021 ◽  
Vol 11 (1) ◽  
pp. 22
Author(s):  
Andrea Čajková ◽  
Peter Čajka

Like many developed countries in the world, China currently faces many serious demographic challenges that pose a potential risk to the country’s socio-economic development and stability. The current demographic development and trend is characterized by a change in the reproductive behavior of the population, characterized by a decline in birth rates, a change in family behavior, and a shift in the value system. This paper is aimed at identifying the impact of population policy and the degree of its influence on both the economic and social system of the country. Based on a deterministic approach, the findings reveal and demonstrate the serious demographic challenges facing China, and we are noting that there is no guarantee that parametric adjustments, such as shifting the retirement age, will de facto ensure the financial health of the pension system by preventing bankruptcy. We point out the risks and prospects for the sustainability of China’s socio-economic development based on an analysis of past and current Chinese demographic policy.


2021 ◽  
Vol 13 (11) ◽  
pp. 6294
Author(s):  
Peiqing Zhu ◽  
Jianbo Song

Internal control plays a role in risk prevention for firms when dealing with serious emergencies, which ensures the sustainable development of firms during a crisis. Based on the rapid outbreak of COVID-19 in China, this paper empirically tests whether internal control alleviates the negative impact of the pandemic on firm performance. Using a sample of Chinese listed firms from the first quarter of 2019 to the third quarter of 2020 and employing the difference-in-difference (DID) method, we find that the firms with a higher quality of internal control achieve better financial performance during the pandemic period; the more serious the pandemic is, the more obvious effect internal control plays. Furthermore, we consider the industry heterogeneity and firm heterogeneity of the risk resistance effect of internal control. In the manufacturing industry, which is a “disaster zone” of the pandemic, and the non-high-tech industry with a low degree of digitization, internal control can play a more important role in firms’ performance. Moreover, for state-owned enterprises, and firms with strong financing constraints, the role of internal control is more prominent. The above results provide empirical evidence for the risk prevention function of internal control and shed new light on the measures for firms to resist emergencies in the future.


2021 ◽  
pp. 097265272110153
Author(s):  
Lan Khanh Chu

This article examines the impact of institutional, financial, and economic development on firms’ access to finance in Latin America and Caribbean region. Based on firm- and country-level data from the World Bank databases, we employ an ordered logit model to understand the direct and moderating role of institutional, financial, and economic development in determining firms’ financial obstacles. The results show that older, larger, facing less competition and regulation burden, foreign owned, and affiliated firms report lower obstacles to finance. Second, better macro-fundamentals help to lessen the level of obstacles substantially. Third, the role of institutions in promoting firms’ inclusive finance is quite different to the role of financial development and economic growth. JEL classification: E02; G10; O16; P48


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