The Importance of Intellectual Capital for the Sustainable Growth of Regions

2020 ◽  
pp. 84-106
Author(s):  
Tamara Rađenović ◽  
Bojan Krstić
Keyword(s):  
Intellectual Capital ◽  
Knowledge Economy ◽  
Theory And Practice ◽  
Sustainable Growth ◽  
The Sustainable Development ◽  
Long Run ◽  
Starting Point ◽  
Good Starting Point ◽  
The Republic ◽  
Regional Development Strategies

In the knowledge economy era, the importance of intellectual capital as the source of value creation has been well recognized in theory and practice. Only those countries, regions, organizations, and individuals who understand the significance of intellectual resources can improve their performances in the long run. Hence, this chapter aims to investigate the importance of intellectual potentials for the sustainable development of regions. The main contribution of this chapter is the presented methodological framework for measuring the intellectual performance of regions. Additionally, this study provides empirical research regarding regions in the Republic of Serbia. The obtained results can be a good starting point for policymakers in designing regional development strategies and policies.

scholarly journals Remittance trap: comparative approach of the Republic of Moldova and other ex-socialist countries

2021 ◽  
Vol 7 (2) ◽  
pp. 59-76
Author(s):  
Elina Benea-Popusoi ◽  
◽  
Polina Arivonici ◽  
Keyword(s):  
Side Effects ◽  
Sustainable Growth ◽  
Comparative Approach ◽  
Policy Recommendations ◽  
Business Climate ◽  
Short Term ◽  
Advantages And Disadvantages ◽  
Long Run ◽  
Capital Outflows ◽  
The Republic

The objective of our analysis has been to find out and elaborate on why some countries could not benefit from remittance inflows sent by migrants or even are getting into traps due to them. In the authors’ view, the remittance trap may be appraised, notably in the long run, as the dilemma in which a country finds itself when the high value of migrant remittance inflows leads to a high value of human and financial capital outflows, as well as to the moral hazard problem of the country's population and government. Accordingly, remittance trap negatively affects the sustainable growth and development of the economy which eventually deepens the country's dependence on remittances, proving the vicious nature of the trap. Furthermore, the paper focuses on identifying a competent set of policy recommendations for the countries that are remittance dependent. A natural conclusion of our research is that there is a thin line between remittances’ advantages and disadvantages, since in fact, short-term benefits very often turn out into long-run side effects, mainly as a result of mismanagement of remittance inflows, which correlates with unfavourable business climate and decreased willingness of the population to invest. Accordingly, the benefits and adverse side effects of remittance inflows are interdependent.

scholarly journals Perception of Intellectual Capital and Its Impact on Business Sustainability: Evidence from Small, Medium, and Large Enterprises

2021 ◽  
Vol 24 (2) ◽  
pp. 35-50
Author(s):  
Elwira Gross-Gołacka ◽  
Marta Kusterka-Jefmańska ◽  
Paulina Spałek ◽  
Bartłomiej Jefmański
Keyword(s):  
Sustainable Development ◽  
Intellectual Capital ◽  
Fuzzy Numbers ◽  
Theory And Practice ◽  
Statistical Hypothesis ◽  
Capital Management ◽  
The Sustainable Development ◽  
Intellectual Capital Management ◽  
Chi Squared ◽  
Large Enterprises

The main goal of this article is to analyze the level of differentiation of awareness and knowledge among managers of small, medium and large enterprises in the scope of the essence and meaning of intellectual capital as well as the influence of its elements on the sustainable development of enterprises in Poland. Intellectual capital is perceived as a key resource of an enterprise. It is also one of the most valuable resources of an enterprise, which enables its sustainable development. It is critical base of organization’s innovative and strategic sustainability. This article is based around the results of a survey conducted in 2019 among 1,067 enterprises operating in Poland. For the purposes of the verification of the statistical hypothesis, the classical chi-squared test of independence has been applied along with the analysis of variations for fuzzy numbers (FANOVA) with an assumed level of significance α = 0.05. The assessment of the influence of the elements of intellectual capital on the sustainable development of enterprises has been conducted with the application of fuzzy conversion scales. In fuzzy conversion scales, points are most often expressed as triangular or trapezoidal fuzzy numbers. The conducted research indicates a difference between theory and practice in the field of intellectual capital management among enterprises in Poland. On the one hand managers declare awareness of the importance of the influence of intellectual capital on the development of enterprises in Poland, whereas on the other hand, a significant majority of them state that they have not implemented an intellectual capital management strategy at their enterprises and neither identify nor measure this capital or its elements.

scholarly journals Local Initiatives for Rural Vitality and Social Inclusion: Some Experiences from Serbia

2013 ◽  
Vol 19 (1) ◽  
pp. 105-125
Author(s):  
Milica Vujicic ◽  
Lela Ristic ◽  
Nata Ciric
Keyword(s):  
Rural Communities ◽  
Rural Economy ◽  
Social Inclusion ◽  
Descriptive Analysis ◽  
Synthetic Approach ◽  
The Sustainable Development ◽  
Starting Point ◽  
Local Initiatives ◽  
Approach Method ◽  
The Republic

Abstract The purpose of this paper is to identify the main problems related to the sustainable development of rural communities, as well as the possible solutions to overcome them. This paper uses an analytical and synthetic approach, method of comparison and analogy, and descriptive analysis. The starting point of the research is actually a brief overview of the current situation in rural Serbia, while the central part of the paper presents an analysis concerning the development of the rural economy in the representative villages of Grabovica and Ribare in the Republic of Serbia. Research results are given in the form of specific guidelines for a new approach to local rural development and strengthening the role and responsibilities of local government in the development process. The main conclusion that follows from the results of the research is that continued and constant work is needed in order to empower local communities to take responsibility for their own development, as well as to support local initiatives to this end.

scholarly journals Sustainability Reporting in the Antwerp Port Ecosystem, Belgium: Understanding the Relationship Between Reporting on the Sustainable Development Goals and Integrated Thinking

2021 ◽  
Vol 2 ◽  
Author(s):  
Jan Beyne ◽  
Wayne Visser ◽  
Imane Allam
Keyword(s):  
Sustainable Development ◽  
Sustainable Development Goals ◽  
Sustainability Reporting ◽  
Online Information ◽  
The Sustainable Development ◽  
Integrated Strategies ◽  
Starting Point ◽  
Development Goals ◽  
Good Starting Point ◽  
The Relationship

This paper is aimed at elucidating the interrelations between reporting on the Sustainable Development Goals (SDGs) and integrated thinking. A review of online information on sustainability by port community companies in Antwerp, Belgium was applied. The research made use of a database from Port Plus investigating 769 companies. The data were analyzed using a combination of descriptive and inferential analyses. The research shows that reporting on the SDGs and integrated thinking have reciprocal reinforcing relationships, where the SDGs are a good starting point for planning integrated strategies for sustainability. The article reinforces that using the SDGs in communication and reporting can help companies better and more holistically integrate their efforts for sustainability into their strategies and processes.

DEFINIRANJE KONCEPTOV NA PRIMERU VOJAŠKE STRATEGIJE

2018 ◽  
pp. 47-69
Author(s):  
PAVEL VUK
Keyword(s):  
Theoretical Concept ◽  
Military Strategy ◽  
Methodological Framework ◽  
Abstract Concepts ◽  
Concept Definition ◽  
Starting Point ◽  
Good Starting Point ◽  
The Republic ◽  
Definition Of ◽  
Mental Constructs

Povzetek Koncepti ali pojmi kot miselni konstrukti realnega sveta so temeljni sestavni elementi teorij, v katerih so prisotni skozi svoje definicije. Bolj enoznačno in jasno so definirani, bolj nedvoumne so komunikacija med znanstveniki in raziskovalci, opredelitev oziroma zamejitev področja raziskovanja ter konceptualizacija oziroma razčlenitev teoretskega pojma ali koncepta. V prispevku smo tako definiranje koncepta izvedli na primeru vojaške strategije. Metodološki okvir za definiranje koncepta vojaške strategije temelji na Sartorijevi metodi analiziranja konceptov in Goertzevi metodi dodajanja oziroma odvzemanja pridevnikov konceptu. Z analitičnim pristopom razvitja definicije vojaške strategije smo spoznali, da lahko tudi v vojaškem slovenskem pomenoslovju bistveno pripomoremo k omejitvi tako količinske kot tudi kakovostne raznolikosti vojaških terminov, ki se pogostokrat brez jasne konotacije pojavljajo in uporabljajo v strokovnih in znanstvenih delih. Empirični koncept je lahko tudi dobro izhodišče za nadaljnje razmišljanje o smotrnosti pristopa k morebitnemu oblikovanju vojaške strategije v slovenskem prostoru. Ključne besede: koncept, strategija, vojaška strategija. Abstract Concepts as mental constructs of the real world are the fundamental components of theories where they are present through their definitions. The more the concepts are unambiguously and clearly defined, the more explicit are the communication between scientists and researchers, the definition or limitation of the object of research, and the conceptualization or analysis of the theoretical concept. In the article, we used the concept definition in the case of a military strategy. The methodological framework for defining the concept of a military strategy is based on Sartori's method of concept analysis and Goertz’s method of attaching or removing adjectives to and from the concept. With the analytical approach to the development of the definition of a military strategy, we found that in the Slovenian military semantics, too, we can significantly contribute to the limitation of both quantitative and qualitative diversity of military terms, which often appear and are used in professional and scientific works without clear connotations. The empirical concept can also serve as a good starting point for further reflection on the rationality of the approach to the possible formation of a military strategy in the Republic of Slovenia. Key words: Concept, strategy, military strategy.

Ликвидност као полуга остваривања врхунског циља предузећа // Liquidity as Lever for Achieving Top Company Goals

2018 ◽  
Vol 13 (23) ◽  
pp. 87
Author(s):  
Драган Микеревић ◽  
Дејан Микеревић
Keyword(s):  
Growth And Development ◽  
Debt Crisis ◽  
Theory And Practice ◽  
Real Sector ◽  
Long Run ◽  
The Republic ◽  
Healthy Growth

Резиме: Иако брзина обрта појединих облика имовине није сама себи сврха, основано је устврдити да је она полуга за остваривање врхунског циља предузећа – максимирање добитка у дугом року. Неликвидност је неријетко узрок дужничке кризе која је захватила буџете појединих земаља али и компанија (реалан сектор). У теорији и пракси присутна су различита схватања појма ликвидности, као и његов значај за здрав раст и развој. У раду се указује на разлике у схватањима тог појма и различитих концепата вођења политике ликвидности, методологијама утврђивања ликвидности и солвентности предузећа (привредних друштава). На основу методолошких и теоријских аспеката сагледано је стање ликвидности привреде Републике Српске што може бити од користи носиоцима економске политике Републике.Summary: Although the speed of turnover of certain types of assets is not an end in itself, it can be claimed that it is a lever for achieving top company goals - maximizing profit in the long run. Illiquidity is often the cause of the debt crisis that has engulfed the budgets of certain countries as well as companies (real sector). In theory and practice, there are different understandings of the term liquidity, as well as its importance for the healthy growth and development. The paper points out the differences in the understanding of this term and the different concepts of pursuing liquidity policy, using methodologies of determining the liquidity and solvency of the companies (enterprises). Based on the methodological and theoretical aspects, the liquidity situation of the economy of the Republic of Srpska has been analyzed which can be useful for policymakers of the Republic of Srpska.

scholarly journals Key determinants of sustainable intellectual capital of enterprises

2021 ◽  
Vol 5 (1) ◽  
pp. 13-22
Author(s):  
Milica Jovanović ◽  
Bojan Petrović ◽  
Ivana Janjić
Keyword(s):  
Intellectual Capital ◽  
Knowledge Economy ◽  
New Economy ◽  
Environmental Issues ◽  
Sustainable Growth ◽  
Sustainable Competitive Advantage ◽  
Modern Approach ◽  
Modern Enterprise ◽  
Basic Characteristics ◽  
Corporate Social

Sustainable intellectual capital, in the new economy, is becoming a key determinant of sustainable growth and development of enterprises. This is an important precondition for gaining a sustainable competitive advantage of a modern enterprise. It is intellectual capital that includes knowledge aimed at solving environmental issues. Also, these intangible assets of enterprises include the so-called green innovations that contribute to the sustainability of enterprise business. Moreover, successful enterprises are expected to adopt corporate social responsibility strategies, and as a result, the concepts of sustainable intellectual capital and green intellectual capital are being developed. The aim of this paper is to present the basic characteristics of the modern approach to intellectual capital in the era of knowledge economy, i.e. to point out important elements of the concept of sustainable intellectual capital and the concept of green intellectual capital.

scholarly journals From Endogenous Growth Theory to Knowledge Economy Pyramid - Comparative Analysis of Knowledge as an Endogenous Factor of Development

2020 ◽  
Author(s):  
Octavian Şerban ◽  
Keyword(s):  
Endogenous Growth ◽  
Intellectual Capital ◽  
Knowledge Economy ◽  
Industrial Revolution ◽  
Market Value ◽  
Sustainable Growth ◽  
Growth Theory ◽  
Research Education ◽  
Innovation Research ◽  
Productivity And Competitiveness

The transition from the neoclassical model with exogenous input of technological progress perspective toward R&D model with endogenous growth of knowledge perspective is not completed, but the premises of innovation, research, education, and entrepreneurship push the limits of labour-intensive economy to knowledge-intensive economy, where knowledge is a valuable resource for sustainable growth in the long-run and the role of Intellectual Capital is critical for increasing productivity and competitiveness. By introducing Intellectual Capital in the endogenous growth model, instead of Human Capital, we have the possibility to reflect better the difference between the market value of production and physical value. In the technological era, innovation and research are able to increase the market value comparing with the accounting value. In the 4th Industrial Revolution, this model is able to be changed dramatically if we take into account the possibility of machines to create knowledge through Artificial Intelligence, Internet of Things, new biotechnologies, new materials, and nanotechnology. For this reason, the more important action for the economic processes is to manage knowledge, starting with increased awareness, accurate measurement system, improved taxonomy, dedicated processes, and so on. In such conditions, the equation of growth theory has to be rewritten soon. The purpose of this research is not to provide a silver bullet of measurement Total Factor Productivity (TFP), but to understand better the part of productivity dedicated to the intangible and to validate this approach within the KEP model. Knowledge Economy Pyramid (KEP) is a valuable environment for incubating and accelerate knowledge in the process, as long as KEP model is creating a collaborative environment where the related stakeholders – universities, factories, technology providers, government, administration, local communities, clusters – are working together in order to achieve the objective of increasing productivity and competitiveness.

The efficiency of the monodirectional economic policy of smaller countries during the globalization and multipolar world

2020 ◽  
Vol 16 (5) ◽  
pp. 929-949
Author(s):  
A.M. Chernysheva
Keyword(s):  
Economic Policy ◽  
Development Strategy ◽  
Systems Approach ◽  
National Development ◽  
Current Phase ◽  
Data Series ◽  
Economic Stability ◽  
The Sustainable Development ◽  
The Republic ◽  
Former Ussr

Subject. After the collapse of the USSR, smaller countries chose different paths in their economic policy during the globalization and the multipolar world. The EU, USA and Russia made a palpable contribution to the economic policy of smaller countries. Some countries of the former USSR failed to find their course, while the others immediately followed their development strategy and stuck to it persistently. Objectives. I examine the economics of the monodirectional strategy of smaller countries of the former USSR. I also evaluate how the countries found their position among different leading countries as points of attraction. The study is based on the assumption that the single direction of the national development and adherence to the same point of attraction will ensure the sustainable development. However, the economic development level depends on the health of a certain economy as a point of attraction. Methods. The study is based on the systems approach, comparative and statistical methods for analyzing macroeconomic data series. Results. I investigated the dynamics of key macroeconomic data in the Republic of Belarus, Latvia and Estonia, such as GDP per capita in current values, unemployment rate and Purchasing Power Index. Given the current phase of globalization and multipolar world, it is crucial for smaller countries to choose a development strategy to follow persistently and achieve proper macroeconomic indicators that depend on the economic stability of counties they treat as their benchmarks. Conclusions and Relevance. I should mention the successful economic policy of Estonia and Latvia, which followed the same course as the other EU countries, as opposed to the Republic of Belarus tending to the policy of the Russian Federation. Nevertheless, the monodirectional development strategy also helps smaller countries ensure their economic stability.

OWNERSHIP IN THE REPUBLIC OF MACEDONIA AND THE STATE AS THE HOLDER OF THE PROPERTY RIGHT UNDER THE CONSTITUTION IN 1991

2018 ◽  
Vol 28 (6) ◽  
pp. 1993-2005
Author(s):  
Shemsije Demiri ◽  
Rudina Kaja
Keyword(s):  
Legal Aspect ◽  
State Ownership ◽  
The State ◽  
Point Of View ◽  
State Function ◽  
Dominant Form ◽  
Republic Of Macedonia ◽  
General Terms ◽  
Starting Point ◽  
The Republic

This paper deals with the right to property in general terms from its source in Roman law, which is the starting point for all subsequent legal systems. As a result of this, the acquisition of property rights is handled from the historical point of view, with the inclusion of various local and international literature and studies, as well as the legal aspect devoted to the respective civil codes of the states cited in the paper.Due to such socio-economic developments, state ownership and its ownership function have changed. The state function as owner of property also changed in Macedonia's property law.The new constitutional sequence of the Republic of Macedonia since 1991 became privately owned as a dominant form of ownership, however, state ownership also exists.This process of transforming social property into state or private (dissolves), in Macedonia starts from Yugoslavia through privatization, return and denationalization measures, on which basis laws on privatization have been adopted. Because of this, there will be particularly intensive negotiations regaring the remaining state assets.

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