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Intelectual Capital As A Driving Force Of Economic Development

Author

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  • Jelena Legcevic

    (Faculty of Law University of J. J. Strossmayer in Osijek)

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).

Suggested Citation

  • Jelena Legcevic, 2015. "Intelectual Capital As A Driving Force Of Economic Development," Interdisciplinary Management Research, Josip Juraj Strossmayer University of Osijek, Faculty of Economics, Croatia, vol. 11, pages 112-120.
    • Handle: RePEc:osi:journl:v:11:y:2015:p:112-120
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    More about this item

    Keywords

    intellectual capital; knowledge; economic development;
    All these keywords.

    JEL classification:

    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights
    • O34 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Intellectual Property and Intellectual Capital
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development

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