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Congratulations to Juliya Naidenova and Petr Parshakov with publishing of the article in Journal of Intellectual Capital

Congratulations to Juliya Naidenova and Petr Parshakov with publishing of the article "Intellectual capital investments: evidence from panel VAR analysis" in prestigious periodical "Journal of Intellectual Capital" (2013, Vol. 14, No. 4). The article was prepared within the framework of the Research Project "Special features of value creation during the crisis: the role of IC".

The aim of this study is to analyze a dynamic relationship between IC components and economic profit, with a special emphasis on industry specific effects in pharmaceutical, retail, steel, telecommunications, and service sectors. Panel vector autoregression (VAR) was used to deal with the mutual influence of intellectual capital components, the lag effect, and heterogeneity. The data was taken from Compustat database and covers the period from 2001 to 2010.

This research proves that there is interaction between investments in the IC components and company performance. However there are sectoral differences: there is a positive impact of economic profit on human capital in retail; in the steel industry a mutual influence is revealed. Moreover, interaction between different IC components is detected in telecommunication and steel industries.

We wish good luck to our collegues - Petr and Julia!