The Electronic Journal of Knowledge Management publishes original articles on topics relevant to studying, implementing, measuring and managing knowledge management and intellectual capital.

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Journal Article

Impact of Intellectual Capital and its Components on Firm Performance Before and After Crisis  pp261-272

Marian Holienka, Anna Pilkov

© Jul 2014 Volume 12 Issue 4, ECIC 2014, Editor: Dagmar Caganova, pp187 - 272

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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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Journal Article

Innovation Strategies as Outcomes of KM Practices and Antecedents of Firm Performance: Evidence from European Economies  pp62-73

Inga Stankevice

© Jun 2015 Volume 13 Issue 1, Editor: Meliha Handzic and John Dumay, pp1 - 100

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Abstract

Abstract: An organisationâ s ability to successfully operate in a competitive environment hinges to a large extent on innovation performance. In the paper, knowledge management (KM) practices, including methods stimulating new ideas and creativity, are viewed as antecedents of innovation strategies, and variance in organisational performance is presented as a consequence of implementation of different innovation strategies. Which KM practices contribute to the emergence of the most and least sophistica ted innovation strategies? Which methods stimulating new ideas and creativity have the greatest potential in producing innovation? How is KM, via innovation strategies, related to firm performance? Where do the differences in innovation strategies and KM practices lie across countries? The paper is aimed at answering these questions and identifying KM practices typical of innovation strategies with varied levels of sophistication. Here, the sophistication depends on coherence (e.g. positive or negative, strong or weak) between the extent of an innovation strategy of an enterprise and the enterprise⠒s performance indicators. For the identification of innovation strategies, CIS8 database was used. It covers 60 innovation variables across 127,674 organiz ations from 12 core and 19 additional sectors and from 16 European economies. The innovation variables include different KM practices as well. Two firm performance indicators were also used in the research. For the identification of methods stimulating ne w ideas or creativity, CIS10 data were used. It covers six such methods; the sample includes enterprises from 24 European economies within innovation core sectors. The methods included exploratory factor analysis, correlation analysis, hierarchical cluste r analysis and k‑means cluster analysis. At each stage, the analyses were accompanied by rigorous validity and reliability tests. The originality of the paper lies in its attempt to interrelate different KM practices with not only innovation strategies an d firm performance, but national economic‑instit

 

Keywords: Keywords: creativity, economic-institutional context, firm performance, innovation strategy, knowledge management practices, organisation

 

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