INTELECTUAL CAPITAL AS A DRIVING FORCE OF ECONOMIC DEVELOPMENT

Jelena Legcevic ()
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Jelena Legcevic: Faculty of Law University of J. J. Strossmayer in Osijek

Interdisciplinary Management Research, 2015, vol. 11, 112-120

Abstract: Intellectual capital is a collaboration and mutual learning within and between undertakings which ensures their long-term successful business association. Intellectual capital is an attempt at assigning financial value to knowledge within a particular economic entity. This paper will present ways of measuring intellectual capital, i.e. valorization techniques of intangible assets. The increased interest in the measurement of intangible assets is the result of increasing enterprise value which is not shown in the accounting statements and therefore creates the wrong information. The biggest difference between market and book value is recorded in high-tech enterprises and industries where intensive knowledge is invested in intangible assets such as research and development and brand. Therefore, one of the main challenges for management is creating conditions for successful generation of intangible value (knowledge, services, experience, benefits, speed, quality and reputation) and its transformation into tangible forms (income, profi ts, value added, stocks, market value).

Keywords: intellectual capital; knowledge; economic development (search for similar items in EconPapers)
JEL-codes: O3 O34 Q32 (search for similar items in EconPapers)
Date: 2015
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