PECULIARITIES OF INTANGIBLE ASSETS AND INTELLECTUAL CAPITAL AS THE OBJECTS OF VALUATION AND THE FACTORS OF MARKET VALUE GROWTH OF RUSSIAN COMPANIES

2021 ◽  
Vol 2 (6) ◽  
pp. 102-109
Author(s):  
E. I. NURGALIEVA ◽  
Keyword(s):  
Intellectual Capital ◽  
Intangible Assets ◽  
Market Value ◽  
Point Of View ◽  
Analysis Methods ◽  
Value Growth

The article analyzes intangible assets and intellectual capital from the point of view of their impact on the market value of Russian companies. For the purpose of this analysis, methods of valuation of these indicators are considered.

PECULIARITIES OF INTANGIBLE ASSETS AND INTELLECTUAL CAPITAL AS THE OBJECTS OF VALUATION AND AS THE FACTORS OF MARKET VALUE GROWTH OF RUSSIAN COMPANIES

2021 ◽  
Vol 1 (6) ◽  
pp. 45-52
Author(s):  
E. I. NURGALIEVA ◽  
Keyword(s):  
Intellectual Capital ◽  
Intangible Assets ◽  
Market Value ◽  
Point Of View ◽  
Analysis Methods ◽  
Value Growth

The article analyzes intangible assets and intellectual capital from the point of view of their impact on the market value of Russian companies. For the purpose of this analysis, methods of valuation of these indicators are considered.

scholarly journals Measurement of Intellectual Capital as Exemplified by Methods of Groups Based on the Roa Indicator and on Market Capitalization

e-Finanse ◽  
2017 ◽  
Vol 12 (4) ◽  
pp. 58-71
Author(s):  
Karolina Palimąka ◽  
Mateusz Mierzejewskl
Keyword(s):  
Intellectual Capital ◽  
Food Industry ◽  
Intangible Assets ◽  
Financial Statements ◽  
Point Of View ◽  
Market Capitalization ◽  
Knowledge Based ◽  
Theoretical Approaches ◽  
Knowledge Based Economy ◽  
Business Analysis

Abstract The concept of a knowledge-based economy is a relatively new topic, but it does not mean that the previous economies did not use knowledge. For many years, knowledge formed the basis of any economy, it was a factor that set the pace of each of them, but just nit is making a significant impact on the entrepreneurial environment, and more. Inherent KBE is the concept of intellectual capital. The article raises both theoretical approaches towards the concept of intellectual capital, and points to the importance (from the point of view of managing this intangible value in the company) -of measuring intellectual capital. The process of good management of the value of intangible assets must be supported by knowledge about, e. g.,its size, value, etc. The authors focus on presenting methods of measuring intellectual capital from two groups of methods by the classification made by K. E. Sveiby, who is considered one of the fathers of the IC concept. The goal of the article is to compare methods from these two groups in terms of their flaws and advantages as regards preparing business analysis. This is done through presentation of the topic, including the concept and methods of intellectual capital measurement, which was based on the review of the literature.Furthermore, based on financial statements of companies from the WIG- oil&gas index and WIG- food industry indexwaysof interpreting the final results are presented.

Strategic characterization of process assets based on asset quality and business impact

2017 ◽  
Vol 117 (8) ◽  
pp. 1720-1737 ◽  
Author(s):  
Maria-Isabel Sanchez-Segura ◽  
Alejandro Ruiz-Robles ◽  
Fuensanta Medina-Dominguez ◽  
German-Lenin Dugarte-Peña
Keyword(s):  
Intellectual Capital ◽  
Intangible Assets ◽  
Point Of View ◽  
Strategic Decision ◽  
Real Case ◽  
Content Type ◽  
Business Goals ◽  
Asset Quality ◽  
The Impact ◽  
Organizational Objectives

Purpose The purpose of this paper is to present the strategic intangible process assets characterization (SIPAC) methodology illustrated by an example of its application to the field of information technology (IT). This is a pioneering methodology for characterizing the impact and quality of intangible process assets and intellectual capital as levers to achieve organizational objectives. This strategic intellectual capital approach will help to identify both intangible assets and indicators geared to meeting organizational objectives. This is of vital importance since the success of an organization can be construed in terms of goal achievement. Design/methodology/approach The paper illustrates an example of the step-by-step application of the proposed methodology at an IT company. The aim is to describe its use in a real case so that other companies can benefit from the replication of the methodology used. Findings The proposed methodology (SIPAC) that the authors have designed and applied has been found to be useful and provide an insightful new point of view for strategic decision making in the IT industry taking into account intangible process assets. Practical implications The proposed methodology has been exemplified in a real case. This should help organizations to use the methodology to replicate the results. Originality/value Each and every organization has know-how represented by intangible assets. This paper meets an identified need to use intangible process assets as levers to help organizations achieve their business goals.

scholarly journals A Theoric Study About Management and Measurement of Intellectual Capital

2014 ◽  
Vol 6 (4) ◽  
pp. 200-206
Author(s):  
Nazmiye Ülkü ARI
Keyword(s):  
Intellectual Capital ◽  
Information Society ◽  
Information Technologies ◽  
Theoretical Perspective ◽  
Information Age ◽  
Market Value ◽  
Point Of View ◽  
The Other ◽  
Global Competition ◽  
Advantage Of Competition

With the winds of global competition, individual and mass improvements that experienced in the transition to the information society caused occurence of many concepts. In the other words, the improvements in the communication and information technologies caused strong fundamental changes by affecting organizations’ structures, functioning and competitiveness. With these changes, new formations occured and intellectual capital are started to be considered. All these improvements and changes connected the future of today’s organizations to intellectual capital which has been known as the capability and power of producing the knowledge and converting it to a source of wealth. In today’s information age, to have the intellectual capital is so important. It became more important with management improvement of it and becoming more visible as it gives an advantage of competition and an increase of market value to the organizations. Fort this purpose, in this study, the concept of intellectual capital and management and measurement of intellectual capital have been defined as a theoretical perspective. The change and development of the point of view to intellectual capital concept has been defined.

Intellectual Capital Models and their Role within Information Systems

2009 ◽  
pp. 547-556
Author(s):  
Francisca Castilla-Polo ◽  
Dolores Gallardo-Vázquez
Keyword(s):  
Human Capital ◽  
Information Systems ◽  
Intellectual Capital ◽  
Intangible Assets ◽  
Point Of View ◽  
Competitive Advantages ◽  
The Status

There is a growing demand to know the status and evolution of firms’ intangible assets. It is motivated by the strategic relevance assigned to these intangible assets. The so-called intangible economy is one of the approaches to the study of intellectual capital (IC), which has attracted the interest of most researchers. The intangible economy treats these assets, because of their special attributes, as having the potential to create competitive advantages for the firm. In this context, the management of intangibles becomes a fundamental strategy from the competitive point of view. If the company does not manage correctly its intangible assets or IC, strategic opportunities will be lost, and even because of the turbulence and complexity of the present environments the position reached in the market could be damaged. This is the topic of the present work. Specifically, we will characterize the concept of IC, and in particular of human capital. Human capital is one of the three divisions into which the intangible dimension of organizations is structured. That intangible dimension is linked to the values, attitudes, and competence of the organization’s employees.

scholarly journals INTELLECTUAL CAPITAL OF THE ENTERPRISE, ITS ESSENCE AND STRUCTURE

2018 ◽  
Vol 20 (1(66)) ◽  
pp. 128-134
Author(s):  
Y.A. NAZARENKO
Keyword(s):  
Social Capital ◽  
Human Capital ◽  
Intellectual Capital ◽  
Intangible Assets ◽  
Developed Countries ◽  
Point Of View ◽  
Property Market ◽  
Wide Range ◽  
Definition Of

Topicality. The transition of developed countries to postindustrial society caused increased attention to the research of intellectual capital of enterprises. Purpose and tasks. The purpose of the article is to systematize approaches to the definition of "intellectual capital" and its structure. Results. The systematization of different approaches to the definition of intellectual capital, which was carried out by I. Proskvirina, showed a lack of a common point of view on this phenomenon. This is due to the interdisciplinary nature of the study of intellectual capital. R. Gavrilova divided the existing definitions of �intellectual capital� into three groups, respectively, from the point of view of management, accounting, and human capital. Existing views on the structure of intellectual capital are based on the classification of its element, proposed by T. Stewart - human, organizational and client capital. Considered ideas about the structure of intellectual capital are very similar and include human capital, organizational and client capital. some representations also include emotional capital, process capital, intellectual property, market assets, etc. All types of capital that are part of the structure of intellectual capital, with the exception of human capital, have not received wide recognition and have not been studied by a wide range of scientists. This does not allow to establish conformity with the existing generally accepted views on types of capital and does not allow the use of the results of numerous studies on these types of capital (social capital, intangible assets). In this regard, the author's vision is the structure of intellectual capital, consisting of human capital, intangible assets and social capital. This made it possible to propose a new definition of �intellectual capital�. Conclusions. The proposed definition of �intellectual capital�, its structure and its components allows it to be considered not only in relation to enterprises, but also at the regional and national levels. This opens up new opportunities for assessing intellectual capital, using existing methods for evaluating human capital, intangible assets and social capital.

scholarly journals Intellectual Capital in light of Creativity and Competitiveness: Overview of Organizations’ Intangible Assets.

2019 ◽  
pp. 1135-1143
Author(s):  
Ahmad Yousef Areiqat
Keyword(s):  
Human Capital ◽  
Intellectual Property ◽  
Intellectual Capital ◽  
Intangible Assets ◽  
Market Value ◽  
Book Value ◽  
Structural Capital ◽  
Property Assessment ◽  
To Come ◽  
The Impact

This research paper addresses several issues related to intellectual capital including a historical overview, the interest in elusive and intangible assets, and the impact of latest technological progress associated with the information technology developments. Ralph Stayer, CEO of Johnsonville Foods Company was the first to use the term “intellectual property” to refer to the organization’s intangible assets. This paper also identifies the concept of intellectual property being a set of all knowledge capacities of the organizations that help them achieve their goals. The intellectual property includes ideas, inventions, technology, general knowledge, computer soft wares and programs, designs, data skills, processes, creativity and applications in all organizations. The intellectual capital is knowledge that can be converted into profits. The components of this concept were identified as follows: Structural capital, human capital, social capital and the psychological capital. The paper also discusses various definitions provided by several researchers relating to intellectual capital, amongst them: Edvinsson & Malone, K. E. Svieby, Y. Malhorta, T. Stewart, Despres & Channvel, and Mckenzie & Winkelen. Moreover, the researcher tackled different measures used in intellectual property assessment and classified them in the following clusters: (1) descriptive measures/scales that describe some traits and characteristics and are based on exploring views related to identify the impact of the intellectual capital on organizations’ business (2) scales and models correlated to the intellectual capital and the intellectual property, which measure the intellectual capital components (3) market value scales and models which focus on the book value of knowledge assets and their market value (4) scales and models of knowledge revenues which are based on calculating returns on assets (ROA). The paper concluded stating that specific issues relating to companies and the nature of the market made it impossible to come up with certain results that can be generalized when making comparison among modern administrative trends or attitudes which defined the intellectual capital as intangible assets. Thus, the researcher urged researchers and parties interested in building up and upgrading companies’ capacities to exert intensive efforts to boost investment in human capital for its key and influential role in accomplishing excellence and enhance the position of these companies.

scholarly journals Reshaping Higher Educational Institutions through Frugal Open Innovation

2021 ◽  
Vol 7 (2) ◽  
pp. 145
Author(s):  
Jayamalathi Jayabalan ◽  
Magiswary Dorasamy ◽  
Murali Raman
Keyword(s):  
Intellectual Capital ◽  
Financial Distress ◽  
Open Innovation ◽  
Intangible Assets ◽  
Private Universities ◽  
Educational Institutions ◽  
Current Debate ◽  
Higher Educational Institutions ◽  
Value Propositions ◽  
Higher Educational

Many private higher educational institutions (PHEI) are facing poor profitability, increased short term debts with under-resourced cash flow and insufficient funds that could lead to financial distress. To address the issues of ever-changing business environments and to deliver value propositions, PHEIs should focus on their intangible assets to increase their capabilities to achieve frugal open innovation. The objective of this paper is to investigate the challenges faced by private universities from the practitioners’ points of view and offer a practical solution. This paper also attempts to identify whether there is a need for any changes in business model or operations required by private universities to sustain their competitive advantage in the current environment. This study is exploratory in nature due to scarcity of past literature on frugal open innovation in PHEI context. Interviews were conducted with experienced practitioners to elicit their experience managing challenges in PHEI. As a result, this paper sheds light on the ability of PHEIs to formalize, capture, and leverage its intangible assets rather than only investing and managing tangible assets in order to achieve frugal open innovation. Frugal open innovation is the enabler for PHEI to focus on core functions, create closer integration with industry, local and international communities and promote greater efficiency in operations. This paper is novel because it seeks to contribute to the current debate in the literature, positioning frugal open innovation (FOI) within the sphere of intellectual capital research, through exploring the effect of intellectual capital on frugal innovation is mediated through the information technology capability. The result indicates that sales and operating planning (S&OP) can be panacea for the five main challenges faced by PHEI includes structural challenges, operational challenges, financial challenges, social challenges and technological challenges. We conclude that there is a role for intellectual capital to achieve FOI by influencing IT capabilities, thus warrants more research to fill this research gap.

The effect of intangible assets on sustainable growth and firm value – Evidence on intellectual capital investment in companies listed on Bucharest Stock Exchange

Kybernetes ◽  
2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Catalin Ionita ◽  
Elena Dinu
Keyword(s):  
Growth Rate ◽  
Intellectual Capital ◽  
Firm Value ◽  
Intangible Assets ◽  
Stock Exchange ◽  
Listed Companies ◽  
Sustainable Growth ◽  
Content Type ◽  
Sustainable Growth Rate ◽  
The Impact

PurposeThe present study investigates the connection between company investments in intellectual capital (IC) and how they translate into financial value. The aim is to test the impact of intangible assets on the firm value and its sustainable growth.Design/methodology/approachThe research employs computation models to determine the sustainable growth rate (SGR) and the firm value (FV), and by using the ordinary least squares (OLS) model through a linear regression assesses the relationship between the dependent variables and expenditures on intangibles like R&D, IT programs and patents. A sample of 42 companies has been selected out of the 78 listed at Bucharest Stock Exchange (BSE), based on the appropriateness of the information disclosed in the financial reports for the period 2016–2019.FindingsThe results show that intangibles classified as innovative competences (R&D and Patents) do not have a positive impact on SGR and FV in listed companies from Romania. Moreover, R&D has a negative and significant effect on FV, while IT Programs have a positive and significant impact on FV, but not on the SGR. Variables categorised as economic competencies (Brands, Shares held in associates and jointly controlled entities) and firm structure-specific variables (Leverage, Firm Performance) seem to have a significant effect on SGR and FV. Shares held in associates and jointly controlled entities is the variable that can have the biggest impact when it comes to FV for companies listed at BSE.Research limitations/implicationsDue to non-disclosure of specific information by some companies, or lack of investments in intangibles the sample had to be reduced and does not cover all listed companies.Practical implicationsCompanies listed on the Regulated Market from the Bucharest Stock Exchange should maintain their scale of liabilities at a reasonable level when financing intangible assets in order to ensure corporate long-term and sustainable development. Also, these companies should maintain awareness about the importance of intangible assets and invest more in specific sub-components, in order to sustain competitive advantage. Recognizing the roles of intangibles, managers need to develop strategies to invest in profitable intangibles by reasonably allocating their limited resources, in order to achieve sustainable growth and increase company success.Originality/valueStudies concerning the relation between investments in intangibles and sustainable growth rate and firm value of listed Romanian companies are very scarce. This paper reveals new research, never before undertaken, concerning expenditures on intangibles by Romanian companies and the valuation of such investments on Bucharest Stock Exchange.

ALOKASI ANGGARAN, INTELLECTUAL CAPITAL, KINERJA KEUANGAN, DAN INDIKATOR KINERJA UTAMA BADAN LAYANAN UMUM

2021 ◽  
Vol 07 (01) ◽  
Author(s):  
Setyo Budi Hartono ◽  
◽  
Wahab Zaenuri ◽  
Fania Mutiara Savitri ◽  
Dessy Noor Farida ◽  
...  
Keyword(s):  
Human Resources ◽  
Financial Performance ◽  
Path Analysis ◽  
Intellectual Capital ◽  
Performance Indicators ◽  
Intangible Assets ◽  
Budget Allocation ◽  
Intangible Asset ◽  
Tangible Assets ◽  
Tangible Asset

Abstrak: Penelitian ini ditujukan pada anggaran dalam bentuk intangible asset (sumber daya manusia) dan tangible asset (aset tetap dan persediaan) yang diprediksi dapat mempengaruhi intellectual capital, kinerja keuangan sekarang dan mendatang, serta indikator kinerja utama. Alokasi anggaran sebagai baromater prioritas dalam mengembangkan intellectual capital ditujukan untuk memenuhi performa keuangan bagi indikator kinerja utama organisasi. Populasi yang juga menjadi sampel yaitu unit dan fakultas pada UIN Walisongo Semarang sebanyak 30 unit. Metode pengambilan sampling menggunakan teknik sampel jenuh yang mengambil seluruh populasi. Data yang digunakan adalah data sekunder berupa laporan tahunan dan laporan pencapaian indikator kinerja utama tahun 2019-2020. Analisis data menggunakan path analysis. Hasil penelitian ini adalah alokasi APBN tahun 2019 UIN Walisongo hanya terfokus pada tangible asset sebesar 82%, sementara 18% dialokasikan untuk intangible asset. Intangible asset tidak berpengaruh secara terhadap semua hubungan, hanya tangible asset saja yang dapat mempengaruhi intellectual capital secara langsung dan kinerja keuangan sekarang secara tidak langsung. Berdasarkan hasil penelitian ini menunjukkan perlu dilakukan audit sumber daya manusia sehingga dapat ditetapkan alokasi kebutuhan anggaran bagi intangible asset-nya. Abstract: This research is aimed at the budget in the form of intangible assets (human resources) and fixed assets and inventories that are predicted to affect intellectual capital, current and future financial performance, as well as key performance indicators. Budget allocation as a priority barometer in developing intellectual capital is aimed at meeting financial performance for the organization's main performance indicators. The population that is also a sample is 30 units and architecture at UIN Walisongo Semarang. The sampling method uses a saturated sample technique that takes the entire population. The data used is secondary data in the form of annual reports and performance indicator reports for 2019-2020. Data analysis using path analysis. The results of this study were that the 2019 State Budget allocation of UIN Walisongo only focused on tangible assets by 82%, while 18% was allocated for intangible assets. Intangible assets do not affect all relationships, only tangible assets can directly affect intellectual capital and current financial performance indirectly. Results Based on this research, it is necessary to conduct an audit of human resources so that they can determine the allocation of budget requirements for intangible assets.

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