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Market activity for today’s enterprises means continuing work to better understand the needs of their customers to provide them higher level of satisfaction. Building market advantages using a traditional approach based on material resources becoming less and less likely to increase competitiveness over the long term. The ability to use intangible assets, often more difficult to identify and manage, is becoming a key issue. Proper management of intangible assets can provide the company with unique market advantages that are unique, durable, and difficult to imitate. This study attempts to characterize selected dependencies between the nature of the actions undertaken by enterprises in relation to intellectual capital in the context of the strength of the level of competition in the market.


An effective knowledge-based economy requires regular cooperation between science and business. This is possible thanks to enterprises that create and implement innovations The paper focuses on the recognition of R&D expenditure. This aims to verify if firms with a scientist on their board are more likely to invest in the R&D. We conduct a tobit panel analysis of over 18,000 Polish private firms combined with data on patents and scientists employed at universities. The findings show that firms with scientists on the supervisory board are likely to invest more in R&D. However, these investment in R&D of firms with a scientist on the board are financial constraint. Their growth depends on access to finance. Therefore, institutions in Poland should support and promote cooperation between science and business, aiming for the realization of the implementation research. This approach requires updated regulations in the accounting area relating to the recognition of R&D inputs and outcomes.