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

Author

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  • Wadim Strielkowski

    (Department of Agricultural and Resource Economics, University of California, Berkeley, CA 94720, USA
    Department of Trade and Finance, Faculty of Economics and Management, Czech University of Life Sciences Prague, 165 00 Prague, Czech Republic)

  • 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
    Research Center of Digital Economy, 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
    Institute of Finance, Economics and Management, Togliatti State University, Belorusskaya Str. 14, 445020 Togliatti, Russia)

  • Anna Sherstobitova

    (Institute of Finance, Economics and Management, Togliatti State University, Belorusskaya Str. 14, 445020 Togliatti, Russia)

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.

Suggested Citation

  • Wadim Strielkowski & Aida Guliyeva & Ulviyya Rzayeva & Elena Korneeva & Anna Sherstobitova, 2021. "Mathematical Modeling of Intellectual Capital and Business Efficiency of Small and Medium Enterprises," Mathematics, MDPI, vol. 9(18), pages 1-21, September.
    • Handle: RePEc:gam:jmathe:v:9:y:2021:i:18:p:2305-:d:638484
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    References listed on IDEAS

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    1. Roxana-Gabriela Mozolea & Sorin Gabriel Anton, 2021. "The Impact of Investments in Intangible Assets and Implications on SMEs’ Performance. A Systematic Literature Review," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 1060-1071, December.
    2. Nan Xie & Yezi Tong & Haitao He, 2023. "Evolutionary Game Analysis of SME Social Responsibility Performance under Public Health Emergencies," Mathematics, MDPI, vol. 11(8), pages 1-31, April.

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