Mathematical Modeling of Intellectual Capital and Business Efficiency of Small and Medium Enterprises

Wadim Strielkowski, Aida Guliyeva, Ulviyya Rzayeva, Elena Korneeva and Anna Sherstobitova
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Aida Guliyeva: Department of Digital Technologies and Applied Informatics, Faculty of Technology and Design, Azerbaijan State University of Economics, AZ1001 Baku, Azerbaijan
Ulviyya Rzayeva: Department of Digital Technologies and Applied Informatics, Faculty of Technology and Design, Azerbaijan State University of Economics, AZ1001 Baku, Azerbaijan
Elena Korneeva: Department of Mass Communications and Media Business, Financial University under the Government of the Russian Federation, Leningradsky Prospekt 49, 125 993 Moscow, Russia
Anna Sherstobitova: Institute of Finance, Economics and Management, Togliatti State University, Belorusskaya Str. 14, 445020 Togliatti, Russia

Mathematics, 2021, vol. 9, issue 18, 1-21

Abstract: Our paper aims at testing the impact of separate elements of the intellectual capital (IC) represented for instance by the human, structural, and customer capital, on the functioning and performance of the small and medium-sized enterprises (SMEs) using mathematical modeling. We assess the intellectual capital with respect to the resource-based view theory. Our study is based on the data obtained from the 206 surveys with the representatives of small and medium-sized enterprises from Commonwealth of Independent States (CIS) countries. We employed a mathematical modeling approach as well as the SPSS application package in order to test our hypotheses about the influence of intellectual capital on the enterprise’s efficiency. Our results helped us to determine that the concept of intellectual capital is practically not used in the management of small and medium-sized enterprises in CIS countries. It becomes apparent that individual techniques for managing intellectual resources can only be identified intuitively, based on an in-depth analysis of the current tasks facing managers. These findings confirmed the positive impact of intellectual capital on the performance of small and medium-sized enterprises in the conditions of the economies in transition represented hereinafter in our paper by CIS countries, but only with the availability of financial resources and with some important reservations.

Keywords: factor analysis; financial resources; intangible assets; small and medium enterprises; mathematical modeling (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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