The Electronic Journal of Knowledge Management aims to publish perspectives on topics relevant to the study, implementation and management of knowledge management
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Journal Article

Taking a Different View: The Case of the Eurozone Macroeconomic Policies as a Case of Incompetence  pp56-66

Eduardo Tomé

© Jan 2014 Volume 12 Issue 1, Special Edition for ECKM 2013, Editor: Monika Petraite, pp1 - 82

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Abstract

Abstract: This paper aims at shedding a new and different light over a very big problem that actually is being felt by the European Society and by the world at large: namely the difficulties the EU is having, since adopting the EURO as a currency in 2002, with its own management of macroeconomic policies, and with its own forecasts over growth. We follow Sveiby (2012) analysis as a methodology. According to that author, radical innovation generates incompetence due to inability in adjusting to the environment. The incompetence materializes itself in wrong predictions by otherwise and formerly competent and acknowledged experts. Sveiby 2012, dissects the case of the financial crisis of 2007‑8, as a case in which radical innovation in the financial markets produced massive managerial incompetence with huge economic and social consequences. By the same token we assume that the Eurozone became a case of incompetence at the level of macroeconomic management. We show evidence of that incompetence because we compare the predictions before the Euro and with the Euro and analyze the impact the Euro entrance add in the correctness of the experts’ predictions. Furthermore we say that experts should take into account that macroeconomic restrictions posed by the Eurozone regulations deeply affect the economy of the more divergent Eurozone Member States. Moreover, the effect of the regulations has not been rightly accounted. The miscalculation generates mistakes in prediction of policy impacts. Those mistakes have major negative effects in the life of ordinary citizens. Therefore we believe that if ones assumes, as we do, and prove, that the Eurozone has currently a problem of managerial incompetence, the finding might have huge economic, social, and political effects The paper is original because we sincerely don’t know (and believe it is not our fault) of any study that analyzes the problem of the current Macroeconomic crisis in the EU as a problem of incompetence. Finally we believe the study could and should developed in a multidisciplinary and multi‑country book.

 

Keywords: Innovation, Competence, KM, Eurozone, Economic crisis, Macroeconomic Management

 

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Journal Article

Impact of Intellectual Capital and its Components on Firm Performance Before and After Crisis  pp259-270

Marian Holienka, Anna Pilkov

© Nov 2014 Volume 12 Issue 4, ECIC 2014, Editor: Dagmar Cagáňová, pp187 - 270

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Abstract

Abstract: The recent economic crisis has caused a significant discontinuity in the world of business. Companies and researchers are constantly trying to understand the key drivers that caused significant impact on companies⠒ performance and how to chall enge them in the future. One still insufficiently covered research issue is the role that intellectual capital and its different components have played in the performance of small and medium‑sized enterprises, and how this role has changed after the cris is. Intellectual capital has become a key value creation driver in the new economy. Its positive influence on firm performance has been proved by numerous empirical studies worldwide. Several of them also investigated how the economic crisis affected this paradigm. However, the body of knowledge supported by sound empirical findings in this field is still rather scarce. Therefore, the purpose of our study is to examine the relationship between intellectual capital (IC) and its different components, and firm performance before the recent economic crisis and in the period of recovery, among SMEs in different industries in Slovakia. To measure the level of IC and its respective components we applied the Value added intellectual coefficient (VAIC⌢) indi cator developed by Pulic. This measure, however being criticized by some authors, is the most frequent metric used to evaluate IC and its components using financial data. We selected ROA as our performance measure... Our analysis also accounted for firm s ize and financial leverage while investigating the effect of IC on SME performance. We based our analysis on panel data comprising of 2008 and 2011 financial statements of 1947 Slovak SMEs operating in 10 industries (sections according to SK NACE rev. 2 classifications). These data were obtained from business information portal Universal Register Plus operated by CRIF ‑ Slovak Credit Bureau. To compare the influence of IC on firm performance we constructed pre‑crisis (2008) and post‑crisis (2011) re gression models and analyzed the observed differences

 

Keywords: Keywords: intellectual capital, intellectual capital components, firm performance, VAICTM, HCE, SCE, CEE, SMEs, economic crisis

 

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