The Impact of Intellectual Capital on Companies' Performance

In this paper, we analyzed the impact of intellectual capital on the performance of companies through the Data Envelopment Analysis method on the example of companies leading their activities in high-tech industries - medicine and information technology. The novelty of this study lies in the fact that, unlike previous studies, the DEA method is used not only to assess the impact of IC on the performance of companies, but also to measure IC, calculating the index. To calculate the index, we used parameters that are directly related to intellectual capital (R & D expenses, intangible assets, labor costs, number of employees). The results of the regression analysis showed that the IC indices constructed by the proposed method have a significant positive effect on the performance indicators of the ROA and ROE companies. In this work, the target indicators for the companies - “outsiders” are defined, as well as an assessment of the dynamics of the effectiveness of the use of IC by companies in the time period 2015 - 2018. This makes it possible to use the obtained results by the management of companies to estimate the effectiveness of using IC and for formularization of future management strategies with the aim of increasing economic growth. In addition, the results obtained are useful for investors. The considered method allows to rank companies on the basis of effectiveness of use of intellectual resources.