Purpose -This paper seeks to provide an empirical view of the present state of intellectual capital (IC) in Finnish companies. It also examines the relationship between the concepts value of IC and efficiency of IC. Design/methodology/approach -Calculated Intangible Value (CIV), which measures the monetary value of IC, and Value Added Intellectual Coefficient (VAIC TM ), which describes how a company's IC adds value to the company, were applied to approximately 20,000 companies per year during the period 2001-2003 and studied using correlation analysis. Findings -Value and efficiency of IC are described in 11 industries in both SMEs and large companies. The theoretically unclear relationship between the value and efficiency of IC remains vague even after the empirical analysis. Calculating the value of IC in relative terms by dividing the value of a company's IC by the value of its tangible assets was found to be illustrative in comparing different industries.Research limitations/implications -The measures used are based on financial statement information and their validity is questionable. However, the large set of data examined has a positive effect on the reliability of the study. Practical implications -The results in this paper highlight the absolute or relative value, and thus importance, of IC for a company, depending on the industry. Originality/value -The industry level analysis of IC and the implementation of scarcely used CIV measure in a large set of companies enhance the existing knowledge of the measurement of IC. The analysis of the relationship between CIV and VAIC TM measures has not previously been done.
PurposeThe paper concerns the research problem of how to analyse the performance of a knowledge society as a whole, and in particular, of how to analyse national intellectual capital. The paper aims to build a conceptual foundation for national intellectual capital performance, and based on this, to construct a multidimensional measurement system for Finland and to investigate its usefulness.Design/methodology/approachThe framework and measurement system of national intellectual capital performance is constructed on the basis of the intellectual capital and knowledge management research literature. The illustration of the measurement system is carried out using empirical data from various institutions.FindingsThe paper argues for the strategic, dialogic and societal measurement of national intellectual capital.Research limitations/implicationThere was neither an exact purpose of measurement nor a detailed strategy for the knowledge society to aim at. Because of this, the measurement system serves as an illustrative example that provides a starting point for more in‐depth case studies on national intellectual capital.Practical implicationsThis paper is targeted at policymakers and government officials concerned with questions related to national knowledge‐based development. The framework and measurement system constructed can serve as a basis for the strategic measurement of knowledge societies.Originality/valueThe paper shows how to apply the concept of national intellectual capital performance to analyse knowledge society. The approach proposed takes into account the strategic nature of national intellectual capital that has been ignored in earlier studies.
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