The performance effect of intellectual capital in the Russian context
The purpose of this paper is to present a comparative analysis of the contribution made by intellectual capital (IC) to company performance at company and industry levels in the Russian context. It examines the performance effect of IC using a multilevel approach.
Current article is dedicated to the relationship between effectiveness of usage of intellectual capital and capital structure of firms in Russia in 2005-2007. Current research showed that effectiveness of usage of intellectual capital of firms has a positive influence over the level of financial leverage. The result of the research has showed that the more effective usage of intellectual capital makes a company more attractive for the credit organizations and opens more sources to obtain financing. There were also revealed some specific features of relationship between the effectiveness of utilization of intellectual capital and corporate financial decisions in Russia. The result is consistent with the results from the similar researches from the developed markets.
The purpose of this research is to develop cost-effectiveness tools for the analysis of company’s intellectual resources, in terms of resource-based and value-based approaches. Our study focuses on the evaluation of intellectual capital methods to discover the drivers of company growth. We suppose that the potential effectiveness of intellectual capital resources varies according to different institutional factors. Several statistical methods will be used for the empirical issues in this research, including common cross-sectional and panel data analysis, and the instrumental variables method. The database collected for this purpose will consist of financial and economic indicators underlying the intellectual capital evaluation, such as strategic performance indicators (EVA© and FGV©).The dataset includes companies from different countries and industries according to the Knowledge Economy Index of the World Bank. The industries presented in the dataset are selected according to the predominance of several intellectual capital elements. The database includes financial services, wholesale and retail trade, machinery and equipment manufacture, the chemical industry, and transport and communications. As a result of the empirical research, we expect to answer the following questions:Is there a close relationship betweenintellectual capital quality and company performance? What are the external and internalfactors affecting this relationship? (country, industry, company size, market dynamics, etc.)
These proceedings represent the work of researchers participating in the 11th International Conference on Intellectual Capital, Knowledge Management & Organisational Learning – ICICKM 2014, which this year is being held at The University of Sydney Business School, The University of Sydney, Australia. The Conference Co‐Chairs are Dr John Dumay from Macquarie University, Sydney, Australia and Dr Gary Oliver from the University of Sydney, Australia. The conference will be opened with a keynote by Göran Roos, Advanced Manufacturing Council, Adelaide, Australia who will address the topic of “Intellectual capital in Australia: Economic development in a high cost economy”. The second day will be opened with a from James Guthrie, University of Sydney, Australia on the topic of “Intellectual Capital and the Public Sector Research: Past, Present, and Future”. The ICICKM Conference constitutes a valuable platform for individuals to present their research findings, display their work in progress and discuss conceptual advances in many different branches of intellectual capital, knowledge management and organisational learning. At the same time, it provides an important opportunity for members of the IC, KM and OL communities to come together with peers, share knowledge and exchange ideas. ICICKM has evolved and developed over the last decade, and the range of papers accepted in this year’s conference ensures an interesting two‐day event. Following an initial submission of 144 abstracts that have undergone a double blind peer review process, 53 Research papers, 13 PhD Research papers, 1 Master’s Research paper, 1 Work‐in‐Progress papers are published in the ICICKM 2014 Conference Proceedings, representing work from Australia, Canada, China, Colombia, Czech Republic, Denmark, Estonia, Finland, France, Iran, Italy, Japan, Malaysia, New Zealand, Nigeria, Poland, Romania, Russia, Saudi Arabia, Singapore, Slovakia, South Africa, South Korea, Sweden, Taiwan, UK and USA. We hope that you have an enjoyable conference.
This article is intended to summarize the key works on Quality Management in order to obtain a unified theoretical basis. Applicability to Russian companies is discussed. Differences between the classic quality paradigm and the TQM ideas are focused and studied thoroughly. Basing on the most recognized works of Crosby, Juran and Deming, the history of Quality Management ideas development is shown. Mechanisms of impact of implemented quality management systems on company results are shown, since it is required in order to perform an empirical study of quality management effectiveness. Also several aims for empirical studies are proposed. Possibility of Quality Management implementation for Russian companies is also discussed.
Papers have been double-blind peer reviewed before final submission to the conference. Initially, paper abstracts were read and selected by the conference panel for submission as possible papers for the conference. Many thanks to the reviewers who helped ensure the quality of the full papers. These Conference Proceedings have been submitted to Thomson ISI for indexing.
One of the basic factors of economic growth in the information knowledge - based economy is the innovation component determined by the level of intellectual capital usage. Of the specifics in the usage of intellectual capital is that the cost evaluation of intellectual resources on the macro-level as a factor of economic growth is extremely difficult and there are more evaluation possibilities on the micro-level. The risk's estimation based on making use of discount theory.
Value-based management concept regards corporate value growth for all stakeholders as the main company purpose which nowadays is primarily provided by intangible assets. However analysis of the process of converting intellectual capital (IC) and its components into the company financial performance is still a challenging research area. The main aim of the current study is to investigate the intellectual capital transformation into the company value on the basis of available information.
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.
The paper examines the principles for the supervision of financial conglomerates proposed by BCBS in the consultative document published in December 2011. Moreover, the article proposes a number of suggestions worked out by the authors within the HSE research team.