Intangible Capital Indicators Based on Web Scraping of Social Media

34 Pages Posted: 13 Oct 2020 Last revised: 10 Dec 2020

See all articles by Patrick Breithaupt

Patrick Breithaupt

ZEW – Leibniz Centre for European Economic Research

Reinhold Kesler

University of Zurich

Thomas Niebel

ZEW – Leibniz Centre for European Economic Research

Christian Rammer

ZEW – Leibniz Centre for European Economic Research - Industrial Economics and International Management Research

Date Written: 2020

Abstract

Knowledge-based capital is a key factor for productivity growth. Over the past 15 years, it has been increasingly recognised that knowledge-based capital comprises much more than technological knowledge and that these other components are essential for understanding productivity develop-ments and competitiveness of both firms and economies. We develop selected indicators for knowledge-based capital, often denoted as intangible capital, on the basis of publicly available data from online platforms. These indicators based on data from Facebook and the employer branding and review platform Kununu are compared by OLS regressions with firm-level survey data from the Mannheim Innovation Panel (MIP). All regressions show a positive and significant relationship be-tween survey-based firm-level expenditures for marketing and on-the-job training and the respective information stemming from the online platforms. We therefore explore the possibility of predicting brand equity and firm-specific human capital with machine learning methods.

Keywords: Web Scraping, Knowledge-Based Capital, Intangibles

JEL Classification: C81, E22, O30

Suggested Citation

Breithaupt, Patrick and Kesler, Reinhold and Niebel, Thomas and Rammer, Christian, Intangible Capital Indicators Based on Web Scraping of Social Media (2020). ZEW - Centre for European Economic Research Discussion Paper No. 20-046, Available at SSRN: https://ssrn.com/abstract=3708002 or http://dx.doi.org/10.2139/ssrn.3708002

Patrick Breithaupt

ZEW – Leibniz Centre for European Economic Research ( email )

P.O. Box 10 34 43
L 7,1
D-68034 Mannheim, 68034
Germany

Reinhold Kesler

University of Zurich ( email )

Rämistrasse 71
Zürich, CH-8006
Switzerland

Thomas Niebel (Contact Author)

ZEW – Leibniz Centre for European Economic Research ( email )

P.O. Box 10 34 43
L 7,1
D-68034 Mannheim, 68034
Germany

Christian Rammer

ZEW – Leibniz Centre for European Economic Research - Industrial Economics and International Management Research ( email )

P.O. Box 10 34 43
L 7,1 D-68161 Mannheim
Germany

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