intellectual capital elements and organizational performance of russian manufacturing companies...
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Intellectual capital elements and organizational performance of Russian
manufacturing companiesTatiana Andreeva
Ph.D., Associate Professor, Department of Organizational Behavior and
Human Resource ManagementGraduate School of Management SPbU
Tatiana GaraninaPh.D., Associate Professor,
Department of Finance and AccountingGraduate School of Management SPbU
Tatiana Garanina
Ph.D., Associate ProfessorDepartment of Finance and Accounting
Research interests:Intellectual Capital EvaluationFinancial Analysis IFRSValue-based Management
Tatiana Andreeva
Ph.D., Associate ProfessorDepartment of Organizational Behavior and Human Resource Management
Research interests:Knowledge managementCross-cultural issues in managementHuman resource management
#1 business School in Eastern Europe since 2012 according to EDUNIVERSAL
Intellectual capital (IC) and its elements are the key elements of organizational performance in
the knowledge-based economy
Research Topicality
Components of
- 2,000 4,000
6,000 8,000
10,000
12,000 14,000
Market Premium Intangible Book Value Tangible Book Value
Components of S&P 500® Market Capitalization
- 2,000 4,000
6,000 8,000
10,000
12,000 14,000
S&P 5
00 M
arke
t Cap
($ b
illio
ns) Market Premium Intangible Book Value Tangible Book Value
[Source: Ned Davis Research, Inc.]
Research Questions
What is the relationship between IC and organizational performance of Russian companies?
What are the elements of IC that are the most important in Russian companies?
IC structure
Human capital Relational capitalOrganization’s ability to
benefit from knowledge, skills and experience of
employees who immanently own them.
Organization’s ability to benefit from resources related to its external relations (customers,
suppliers, other counteragents
Organizational (structural) capitalOrganization’s ability to benefit from knowledge kept
within.
Research Model & Hypotheses
Human Capital
Relational Capital
Structural Capital
Organizational performance
H1 +
H2 +
H3 +
Survey (validated in international setting) Top-managers as respondents Questions: Five-point Likert scale (1-
strongly disagree, 5-strongly agree) Help of external provider
Research Method
January – March 2015Random sample of Russian manufacturing
companies:Min 100 employees 24 regions 11 sectors of manufacturing
39% response rate = 240 companies respondents = CEO, deputy CEO, Head of
HR, other managerial positions
Sample
Findings
Human Capital
Relational Capital
Structural Capital
Organizational performance
0,249***
0,16 n.s.
0,313**
25,6%
Limitations
No time-lag in performance data
One method of IC elements evaluation. Other methods of measuring IC elements can be used (for ex., financial proxies)
Data from one sector (manufacturing companies)
Sample details (Industries)#
Manufacturing of:Number of companies % of sample
1 Machines and equipment (including electric machines and equipment) 42 17,5
2 Vehicles (transport) 28 11,73 Food 25 10,44 Consumer goods 23 9,65 Rubber and plastic goods 19 7,96 Wood processing , wood products , paper, paperboard
and articles thereof 18 7,5
7 Chemicals (pharmaceuticals excluded) 17 7,18 Publishing and printing 14 5,89 Metallurgy 13 5,410 TV, radio and telecommunication equipment 9 3,8
11 Metal goods 8 3,3
12 Furniture 7 2,9
13 Coke (carbon), oil products and nuclear fuel 5 2,1
14 Medical and optical equipment, watches 5 2,1
15 Recycling of secondary raw materials 4 1,7
16 Pharmaceutical products 2 ,8
17 Computers and office equipment 1 ,4