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Intellectual Capital and Productivity: Identification and the Measurement of the Relationship at Company-level

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Author Info
Antti Lönnqvist
Abstract

A company’s intellectual capital consists of a set of various non-physical sources of value, such as employee competencies, stakeholder relationships and patents. This paper examines the relationship between intellectual capital and productivity at company-level. It is based on a conceptual study aiming to understand the relationship as well as two statistical studies aiming to describe it empirically. The empirical examination is based on information gathered from the financial statements of Finnish companies between 2001 and 2003. Altogether around 20.000 companies are included in the analysis, in which the results of intellectual capital measures and productivity measures are examined. The conceptual study suggests that the company-level relationship between IC and productivity is a complex and case-specific phenomenon. The biggest problems in studying the relationship are related to IC measurement. Valid and comparable IC measures are missing, and due to the case-specific nature of IC, measures that would be generic and still relevant in different companies may be very difficult to create. Although it seems most probable that there is a strong relationship between IC and productivity it is difficult to ascertain the relationship empirically. Also in this paper, the empirical relationship was not clearly shown. However, instead of discussing about the generic relationship between IC and productivity it might be more useful to focus on various interrelated relationships between different IC-factors and productivity.

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Paper provided by The Research Institute of the Finnish Economy in its series Discussion Papers with number 1108.

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Length: 20 pages
Date of creation: 20 Nov 2007
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Handle: RePEc:rif:dpaper:1108

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Keywords: intellectual capital; management; measurement; productivity; profitability;

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This paper has been announced in the following NEP Reports: References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Petri Böckerman & Edvard Johansson & Satu Helakorpi & Antti Uutela, 2007. "Economic Inequality and Health: Looking Beyond Aggregate Indicators," Discussion Papers 1104, The Research Institute of the Finnish Economy. [Downloadable!]
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  2. Ville Kaitila, 2007. "Free Trade between the EU and Russia - Sectoral Effects and Impacts on Northwest Russia," Discussion Papers 1087, The Research Institute of the Finnish Economy. [Downloadable!]
  3. Heli Koski, 2007. "Do Technology Diffusion Theories Explain the OSS Business Model Adoption Patterns ?," Discussion Papers 1102, The Research Institute of the Finnish Economy. [Downloadable!]
  4. Terttu Luukkonen, 2007. "Understanding Strategies of the Venture Capital Investors in Helping Their Portfolio Firms to Become International," Discussion Papers 1099, The Research Institute of the Finnish Economy. [Downloadable!]
  5. Pekka Ilmakunnas & Mika Maliranta, 2007. "Aging, Labor Turnover and Firm Performance," Discussion Papers 1092, The Research Institute of the Finnish Economy. [Downloadable!]
  6. Mikko Ketokivi & Jyrki Ali-Yrkkö, 2007. "Determinants of Manufacturing-R&D Co-location," Discussion Papers 1082, The Research Institute of the Finnish Economy. [Downloadable!]
  7. Esteban – Los Fernández Vázquez, 2007. "A Maximum Entropy Approach to the Indenitication of Productive Technology Spillovers," Discussion Papers 1106, The Research Institute of the Finnish Economy. [Downloadable!]
  8. Christopher Palmberg, 2007. "Modes, Challenges and Outcomes of Nanotechnology Transfer - A Comparative Analysis University and Company Researchers," Discussion Papers 1086, The Research Institute of the Finnish Economy. [Downloadable!]
  9. Jyrki Ali-Yrkkö & Mika Pajarinen & Petri Rouvinen & Pekka Ylä-Anttila, 2007. "Family Businesses and Globalization in Finland," Discussion Papers 1080, The Research Institute of the Finnish Economy. [Downloadable!]
  10. Mika Maliranta & Rita Asplund, 2007. "Training and Hiring Strategies to Improve Firm Performance," Discussion Papers 1105, The Research Institute of the Finnish Economy. [Downloadable!]
  11. Rita Asplund, 2007. "Finland: Decentralisation Tendencies within a Collective Wage Bargaining System," Discussion Papers 1077, The Research Institute of the Finnish Economy. [Downloadable!]
  12. Sarianna M. Lundan, 2007. "The Home Country Effects of Internationalisation," Discussion Papers 1100, The Research Institute of the Finnish Economy. [Downloadable!]
  13. Sami Napari, 2007. "Gender Differences in Early-Career Wage Growth," Discussion Papers 1093, The Research Institute of the Finnish Economy. [Downloadable!]
  14. Paavo Suni, 2007. "Oil Prices and the Russian Economy. Some Simulation Studies with NiGEM," Discussion Papers 1088, The Research Institute of the Finnish Economy. [Downloadable!]
  15. Sami Napari, 2007. "Is There a Motherhood Wage Penalty in the Finnish Private Sector?," Discussion Papers 1107, The Research Institute of the Finnish Economy. [Downloadable!]
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Ari Hyytinen & Petri Rouvinen, 2008. "The Labour Market Consequences of Self-employment Spells: European Evidence," Discussion Papers 1129, The Research Institute of the Finnish Economy. [Downloadable!]
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