Abstract: This paper explores the relevance and importance of measurement of IC and its impact on performance in the Caribbean hospitality industry. A survey using a 7‑point Likert scale was administered to hotel managers to test the relationship between measurement of IC and performance controlling for hotel size and rating of the hotel. The data analysis techniques used were exploratory factor analysis (EFA), confirmatory factor analysis (CFA) and hierarchical multiple regression. The analysis of h ierarchical multiple regressions allowed us to support the hypothesis that measurement of IC explained a significant additional proportion of variance in performance above and beyond that of number of hotel rooms and hotel ranking. This finding of a sign ificant and positive relationship between measurement of IC and performance has relevance to both IC academics and practitioners, as it validates the use of measurement of IC to enhance performance. This paper adds to the extant literature on IC within th e Caribbean and the hospitality industry both under‑research areas in terms of IC.
Abstract: At a time when intellectual capital and product innovation management are both considered to be critical for companies to gain a competitive edge (and even survive) in todays unstable business environment, this paper discusses the influence o f relational capital on product innovation performance at innovative small and medium enterprises (SMEs). Building upon the intellectual capital and new product development perspectives, an empirical research was conducted, using a questionnaire adminis tered to a network of Portuguese innovative SMEs. The findings suggest that relational capital does have a positive effect on product innovation performance. In particular, Vertical relationships emerges as the main relational capital element significan tly affecting product innovation at the innovative SMEs level. The existence and proactive management of relationships with customers and suppliers emerge as critical factors to product innovation success. We find our results to be useful for both researc hers and practitioners: we contribute to the ongoing understanding of relational capitals impact on critical business phenomena, while also identifying additional critical factors for new product development success.
Keywords: Keywords: intellectual capital, relational capital, product innovation, new product development, innovative SMEs, Portugal
Strategically Developing Intellectual Capital Effectiveness: A Conceptual Model for Innovative Companies pp309‑324
Abstract: Developing intellectual capital at companies often results in large numbers of patents filed with little results other than protection of firm historical patents against intellectual property intrusion by current competitors or future competitor s. This paper presents exploratory research to classify into those patents filed in past years by several major technology companies as well as measuring the business results of the patents which shows the need for the new strategic conceptual model pres ented in this paper. A new approach to align corporate resources toward patent strategies, management capability and process with strategic intent is presented which enables firms to assure that all needed considerations are present in a comprehensive te chnology and patent strategy of intellectual capital development, especially at technology firms.
Keywords: Keywords: technology development model strategy, intellectual capital strategies, innovation and patent myths
Voluntary Disclosure of Intellectual Assets and Intellectual Liabilities: Impact on Financial Performance in Publicly Listed Firms in the United Arab Emirates pp325‑338
Abstract: Financial reporting is an important, crucial task for achieving and sustaining a well‑organized, farsighted business. Furthermore, investor demand for relevant information and improved quality and timeliness of financial information is increasin g in the face of deteriorating usefulness of traditionally reported earnings, cash flows, and equity values. Thus, many accounting industry practitioners, analysts, and researchers now see Intellectual Capital (IC) as a driver for a firms long term bus iness competitiveness. However, most IC studies have overlooked the negative side of IC which is referred to as Intellectual Liabilities (IL). Therefore, the objective of the present research is to explore through empirical analysis how Intellectual Ass ets (IA) and IL components, as independent variables, influence Firm Financial Performance (FFP) as a dependent variable. The present study uses content analysis of 2010 and 2011 annual reports for all publicly listed companies in the United Arab Emir ates (UAE). Multivariate regression analysis is employed to answer the research question: What are the characteristics of a new conceptual model that assists in explaining the relationships between IC disclosure and FFP for companies listed on the UAE s tock exchanges? The findings indicate a statistically positive relationship between Human Assets (HA), Relational Assets (RA), Structural Assets (SA), Human Liabilities (HL), Relational Liabilities (RL), and Structural Liabilities (RL) on one hand, and Return on Equity (ROE) on the other hand. However, this research has some limitations which include the restrictions inherent in the content analysis method, in addition to the external validity to other jurisdictions due to the sample being c hosen from the UAE only. In terms of practical implications, the findings of this study provide an insight to firm managers on the impact of increased transparency and disclosure on FFP.
Keywords: Keywords: intellectual assets, intellectual liabilities, disclosure, financial performance, United Arab Emirates
Abstract: Intellectual capital has become a key element of the knowledge economy. Their management is a factor that influences the competitive advantage of companies. The main objective of this paper is to present a methodology (ICM ‑ Intellectual Capita l Model) that allows the audit of intellectual capital management in small and medium enterprises (SMEs). From the conducted research, it can be concluded that the model is technically robust and determines that the management of intellectual capital i s likely to be audited and certified in order to control the quality and dynamism of the knowledge generated and allowing the partner organizations (customers, suppliers and enders) to estimate the innovation capacity and verify the conformity of their management parameters, compared with a reference standard. Indeed, the results of surveys also show that the proposed model forms the basis of a credible accreditation system for intellectual capital management in the majority of Portuguese SMEs. This pap er also contributes to enhance the discussion around the value of organizations intangible assets and therefore to change the current concepts of economic development.
Intellectual Capital and Innovation: A Case Study of a Public Healthcare organisation in Europe pp361‑372
Abstract: This research study focuses on innovation and the Human, Structural, and Relational components of Intellectual Capital, using Santos‑Rodrigues et al. (2011) research proposal as a framework. It aims to investigate the influence of Intellectua l Capital on a public Healthcare organisations capability for innovation. Sixty five of the sixty eight questionnaires administered to hospital managers and leaders between July and August of 2011, were used in the research. The study suggests that a rel ationship exists between the incentives to innovate (a dimension of Human Capital) and the innovation created, with trust being the only Structural Capital dimension related with the innovation adopted. It was found that networks and alliances (a dime nsion of Relational Capital), is the only dimension simultaneously related with the innovation created and adopted constructs, hence, Relational Capital being the only Intellectual Capital construct related simultaneously with both innovation creation an d adoption. The research further suggests that there is a direct relation between Human Capital and innovation, principally with the innovation created. The Structural Capital construct was found to be partly related with the Innovation Adoption construct .
Keywords: Keywords: Intellectual Capital, Innovativeness, Healthcare, Human Capital, Structural Capital, Relational Capital
ICBS Intellectual Capital Benchmarking System: A Practical Methodology for Successful Strategy Formulation in the Knowledge Economy pp373‑386
Abstract: The advent of the knowledge economy fundamentally changes the way to create wealth. According to new theoretical foundations (Resource Based View, Dynamic Capabilities and Knowledge Based View) key strategic knowledge or Intellectual Capital h as become the fundamental driver of wealth creation. A revision of the literature concludes that business excellence has always been due to good strategy formulation and superior strategy implementation. In order to achieve business excellence in the know ledge economy context substantial efforts have been made to improve the process of strategy implementation and some of them have produced relevant frameworks and methodologies, such as Balanced Scorecard and InCaS (Intellectual Capital Statement. Made in Europe). Nevertheless, fewer efforts have been made in the process of strategy formulation and, in practice, the SWOT analysis still is the most well known existing framework. However, in a world where customer preferences are volatile and the identity of customers and the technologies for serving them are changing, a market‑focused strategy may not provide the stability and constancy of direction needed as a foundation for long term strategy. When the external environment is in a state of flux, the fir m itself, in terms of its bundle of resources and capabilities, may be a much more stable basis on which to define its identity. Hence, a definition of the firm in terms of what it is capable of doing may offer a more durable basis for strategy than a def inition based upon the needs the business seeks to satisfy. Consequently, the SWOT analysis methodology can⠒t cope with the new external environment requirements and a kind of improved or extended SWOT analysis is needed. ICBS (Intellectual Capital Ben chmarking System) is the output of a practical research on extended or improved SWOT analysis, a framework that knowledge economy requires for successful strategy formulation. ICBS is a new management method that allows companies to perform a competitive ness strategy check‑up of their business models. F
Keywords: Keywords: strategic management, core competencies, ICBS-Intellectual Capital Benchmarking System, intellectual capital, extended SWOT analysis
Abstract: If a company aims to succeed at developing its competitive advantage, knowledge assets should be considered as an important resource as it is the raw material from which financial results are obtained. This Case Study aims to determine whether h uman Capital is presented and valuated in a small company working in the logistics sector, and if it has an impact on the financial performance. Considering this, we have developed a Case Study that utilises a pragmatic and unique, holistic and explorator y approach. Data collection was carried out mainly through interviews and observation centred on Human Capital and on the financial performance, conducted on two elements from different levels of authority and responsibility within the company, a director and an operation employee. A Likert scale of 5 points was used, and the study concluded that both participants interviewed, shared a similar point of view about Human Capital and the financial performance. It was also concluded that the company evaluated is human Capital, in particular, the follow elements: the employees formation and training, skills, teamwork, internal relations and knowledge share had impact in the financial performance of a firm, and the company had a positive result over the years, although yields have stagnated recently, and expenses have increased due to the current international crisis. Consequently, it was concluded that in those companies, Human Capital was valuated and the case study suggests that there is a relationship with financial performance.
Keywords: Keywords: human capital, enterprise results, financial results, financial performance, logistics