Intellectual Capital Investments: Evidence from Panel VAR Analysis

19 Pages Posted: 23 Jan 2013

See all articles by Iuliia Naidenova

Iuliia Naidenova

National Research University Higher School of Economics

Petr Parshakov

National Research University Higher School of Economics

Date Written: January 22, 2013

Abstract

It is believed that investments in intellectual capital enable a company to create a competitive advantage that results in the ability to earn economic profits and increase company value. However, this influence is reciprocal: Companies that generate more money can invest more funds in intellectual capital. The aim of this study is to use vector autoregression (VAR) to analyze the return on investments for companies in tangible and intellectual assets. This instrument allows us to take into account both the lag effect and the mutual influence of intellectual capital components.

Keywords: vector autoregression, intellectual capital, return on assets, economic value added, investments, panel data

JEL Classification: C22, C33, G30, O30

Suggested Citation

Naidenova, Iuliia and Parshakov, Petr, Intellectual Capital Investments: Evidence from Panel VAR Analysis (January 22, 2013). Higher School of Economics Research Paper No. WP BRP 11/FE/2012, Available at SSRN: https://ssrn.com/abstract=2204952 or http://dx.doi.org/10.2139/ssrn.2204952

Iuliia Naidenova (Contact Author)

National Research University Higher School of Economics ( email )

Myasnitskaya street, 20
Moscow, Moscow 119017
Russia

Petr Parshakov

National Research University Higher School of Economics ( email )

Myasnitskaya street, 20
Moscow, Moscow 119017
Russia

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