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Intellectual Capital Management and Reporting in Universities and Research Institutions

Author

Listed:
  • CAÑIBANO, Leandro

    () (Prof. of Accounting and Finance.Autonomous UNIVERSITY OF MADRID. Spain.)

  • SANCHEZ, Mª Paloma

    () (Prof. of Applied Economics. Autonomous University of Madrid. Spain)

Abstract

The paper intends to show how the IC principles, developed mainly for companies over the last two decades, can be applied as well to Universities and Research Institutions. Firstly, it explores recent theoretical backgrounds which affect Universities, such as the “Mode 2” of Knowledge production and the Triple Helix Model. Secondly it analyses how similar objectives and procedures are when managing intangibles in both companies and Universities. Then it examines whether the structure of IC reporting in companies may be useful for Universities, providing some examples for Europe, and how the harmonization and external control principles are relevant for public institutions. The main conclusion is that IC principles can broadly apply to Universities and that reporting on their IC would be beneficial for them and the society as a whole, which provides the rationale for public intervention. Mediante este artículo se pretende mostrar cómo los principios en los que se basa el ‘Capital Intelectual’, desarrollados principalmente durante las dos últimas décadas en el ámbito empresarial, pueden ser también aplicados a las Universidades e Instituciones de investigación. Para ello se exponen, en primer lugar, los fundamentos teóricos más recientes que afectan a las Universidades, tales como el ‘Modo 2’ de producción de conocimiento y el ‘Modelo de triple hélice’. En segundo término, se analiza la existencia de objetivos y procedimientos similares para gestionar los intangibles, tanto en las empresas como en las Universidades. Seguidamente se examina si la estructura del Informe de Capital Intelectual utilizado por las empresas podría servir para el de las Universidades, proporcionando algunos ejemplos relativos a Europa, y poniéndose igualmente de manifiesto que la armonización y los principios de control externo son también relevantes para las instituciones públicas. La principal conclusión a la que se llega es que la aplicación de los principios que informan el Capital Intelectual puede extenderse al ámbito de las Universidades y que la emisión por parte de éstas de un Informe de Capital Intelectual podría ser beneficioso para ellas y para el conjunto de la sociedad, proporcionando así una exposición razonada de la intervención pública.

Suggested Citation

  • CAÑIBANO, Leandro & SANCHEZ, Mª Paloma, 2008. "Intellectual Capital Management and Reporting in Universities and Research Institutions," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 26, pages 7-26, Agosto.
  • Handle: RePEc:lrk:eeaart:26_2_1
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    References listed on IDEAS

    as
    1. Hélyette Geman & Marc Yor, 1993. "Bessel Processes, Asian Options, And Perpetuities," Mathematical Finance, Wiley Blackwell, vol. 3(4), pages 349-375.
    2. Kemna, A. G. Z. & Vorst, A. C. F., 1990. "A pricing method for options based on average asset values," Journal of Banking & Finance, Elsevier, vol. 14(1), pages 113-129, March.
    3. Daniel Dufresne, 2000. "Laguerre Series for Asian and Other Options," Mathematical Finance, Wiley Blackwell, vol. 10(4), pages 407-428.
    4. Mark Craddock & David Heath & Eckhard Platen, 1999. "Numerical Inversion of Laplace Transforms: A Survey of Techniques with Applications to Derivative Pricing," Research Paper Series 27, Quantitative Finance Research Centre, University of Technology, Sydney.
    5. Robert C. Merton, 2005. "Theory of rational option pricing," World Scientific Book Chapters,in: Theory Of Valuation, chapter 8, pages 229-288 World Scientific Publishing Co. Pte. Ltd..
    6. Black, Fischer & Scholes, Myron S, 1973. "The Pricing of Options and Corporate Liabilities," Journal of Political Economy, University of Chicago Press, vol. 81(3), pages 637-654, May-June.
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    More about this item

    Keywords

    Intangibles; Intellectual Capital; Universities; Research Institutions/Capital Intelectual; Universidades; Instituciones de investigación.;

    JEL classification:

    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
    • I28 - Health, Education, and Welfare - - Education - - - Government Policy
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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