Intellectual Capital: Value Drivers and Role of Institutions in Europe and Russia

Posted: 6 Feb 2012

See all articles by Elena Shakina

Elena Shakina

National Research University Higher School of Economics

Date Written: August 6, 2011


The purpose of this research is to develop cost-effectiveness tools for a company intellectual resources’ analysis in terms of resource-based and value-based approaches.

Our study focuses on the evaluating of intellectual capital methods that allow finding out drivers of the companies’ growth. We suppose that the potential effectiveness of intellectual capital resources varies according different institutional factors.

Several statistical methods should be provided for the empirical issues of this research, including common cross-sectional and panel data analysis, instrumental variables method. The data base collected for this purpose will consist of financial and economic indicators underlying the intellectual capital evaluation, such as strategic performance indicators (EVA© and FGV©).

The dataset includes companies from different countries and industries according to Knowledge Economy Index of the World Bank. The industries presented in the dataset are selected according to the predominance of several intellectual capital elements. The database includes financial services, wholesale and retail trade, machinery and equipment manufacture, chemical industry, and, finally, transport and communications.

As a result of the empirical research, we expect to answer the following questions: •Is there a close relationship between intellectual capital quality and company performance? •What are the external and internal factors affecting this relationship? (country, industry, company size, market dynamics, etc.)

Keywords: intellectual capital, institutional drivers, company's performance

JEL Classification: O12, O15, O16, O34, O57

Suggested Citation

Shakina, Elena, Intellectual Capital: Value Drivers and Role of Institutions in Europe and Russia (August 6, 2011). Available at SSRN:

Elena Shakina (Contact Author)

National Research University Higher School of Economics ( email )

Studencheskaya str., 38
Perm, Perm krai 614070

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