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Intellectual Capital Investments: Evidence from Panel Var Analysis

Author

Listed:
  • Iuliia Naidenova

    (National Research University Higher School of Economics. Laboratory of Investment Analysis and Department of Financial management)

  • Petr Parshakov

    (National Research University Higher School of Economics. Asset Pricing Department)

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

Suggested Citation

  • Iuliia Naidenova & Petr Parshakov, 2013. "Intellectual Capital Investments: Evidence from Panel Var Analysis," HSE Working papers WP BRP 11/FE/2013, National Research University Higher School of Economics.
    • Handle: RePEc:hig:wpaper:11/fe/2013
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    File URL: http://www.hse.ru/data/2013/01/22/1305738794/11FE2012.pdf
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    References listed on IDEAS

    as
    1. Love, Inessa & Zicchino, Lea, 2006. "Financial development and dynamic investment behavior: Evidence from panel VAR," The Quarterly Review of Economics and Finance, Elsevier, vol. 46(2), pages 190-210, May.
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    Cited by:

    1. Shakina, Elena & Parshakov, Petr & Alsufiev, Artem, 2021. "Rethinking the corporate digital divide: The complementarity of technologies and the demand for digital skills," Technological Forecasting and Social Change, Elsevier, vol. 162(C).
    2. Anna Maria Biscotti & Eugenio D’Amico, 2016. "Theoretical foundation of IC disclosure strategies in high-tech industries," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 13(1), pages 1-25, February.
    3. Driss El Kadiri Boutchich, 2023. "Model for Promoting Corporate Social Performance Measurement and Social Change: Elaboration from Causal Analysis Between the Both," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 169(1), pages 209-234, September.
    4. Driss El Kadiri Boutchich, 2022. "Human Capital in Public Research Laboratory: Towards an Alternative Evaluation and Prediction Method Based on Hybridization," Annals of Data Science, Springer, vol. 9(6), pages 1181-1200, December.
    5. Ma, Shao-Chao & Fan, Ying, 2020. "A deployment model of EV charging piles and its impact on EV promotion," Energy Policy, Elsevier, vol. 146(C).
    6. Anna Maria Biscotti & Eugenio D?Amico & Sabato Vinci, 2019. "The effectiveness of intellectual capital disclosure in market assessments of corporate value creation," FINANCIAL REPORTING, FrancoAngeli Editore, vol. 2019(1), pages 5-35.

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    More about this item

    Keywords

    vector autoregression; intellectual capital; return on assets; economic value added; investments; panel data;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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