Year of Graduation
The Interaction of the Intellectual Capital Components: Economic Crisis Issues
Faculty of Economics
This paper analyses intellectual capital component’s interaction effects in company’s value creation process and crisis issues. This subject is quite relevant, as it is very poor covered in existing empirical works, but nevertheless is important. This issue’s investigation helps better understand intellectual resource’s ways of influence on company’s value under different economic conditions. As a result better insight allows to make deliberate and objective managerial and investment decisions. Author assumes positive significant influence on company’s value of all interactions between three intellectual capital components: human, structural and relation capital. Moreover, crisis on author’s opinion tends to enhance these interactions. The questions put forward in this study were tested on a sample of European companies belonging to the service industry. As a result, several relevant statistical tools and approaches help to conclude all interactions’ significance. Furthermore, absolute significance of interaction between human and relation capital was shown and enhanced interaction between human and structural capital after crisis was proved in this research work. This study has both empirical and theoretical implications. Above all the importance of intellectual capital management and the necessity of effective intellectual capital structure were proved.