The Impact of Intellectual Capital on Market Capitalization of Russian Companies

In the modern context of technological revolution, intellectual capital (IC) is becoming one of the most important drivers of economic development. The purpose of this work is to identify the impact of IC on market capitalization of Russian companies. This topic is deeply researched in the developed and Asian markets, which cannot be said about the developing Russian market where the issues of transparency, quality and availability of financial information are acute, which determined the choice of research methodology – VAIC (Value Added Intellectual Capital) offered by Pulić, A. (2000). In the course of empirical research it is expected to draw original conclusions arguing in favour of influence of the IC share in the total assets of Russian companies on their market capitalization. The results obtained by the research study can be used by owners, managers and CEO of Russian companies, as well as stockbrokers and investors in practical activities in the process of planning their investment programs.