Year of Graduation
Critical Factors of Competitiveness of Russian Companies
This paper investigates the impact of intellectual capital on the competitiveness of Russian companies. A feature of the work is that the author explores the intellectual capital (IC) of Russian companies in comparison with companies in Europe, in order to identify which components of IC give Russian companies a competitive advantage. As an intangible resource indicators has been selected a number of proxy indicators used in the literature previously. Based on panel data consisting of 510 Russian and 669 European companies for the period from 2004 to 2011, author has built the model with fixed effects, which includes interaction effects of some indicators of intellectual capital and indicator of belonging to the particular market. The study revealed that indicators of human capital have a greater impact on the competitiveness of Russian companies rather than European ones.