Intellectual Capital Investments: Evidence from Panel Var Analysis

Iuliia Naidenova and Petr Parshakov

HSE Working papers from National Research University Higher School of Economics

Abstract: It is believed that investments in intellectual capital enable a company to create a competitive advantage that results in the ability to earn economic profits and increase company value. However, this influence is reciprocal: Companies that generate more money can invest more funds in intellectual capital. The aim of this study is to use vector autoregression (VAR) to analyze the return on investments for companies in tangible and intellectual assets. This instrument allows us to take into account both the lag effect and the mutual influence of intellectual capital components

Keywords: vector autoregression; intellectual capital; return on assets; economic value added; investments; panel data (search for similar items in EconPapers)
JEL-codes: C22 C33 G30 O30 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2013
New Economics Papers: this item is included in nep-acc
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Published in WP BRP Series: Financial Economics / FE, January 2013, pages 1-19

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Persistent link: https://EconPapers.repec.org/RePEc:hig:wpaper:11/fe/2013

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