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Theoretical and Methodological Approaches on the Intellectual Capital

Abstract

The aim of this paper consists in providing a general overview of the notion of intellectual capital as a key to maximizing the corporate performance. Following the researches carried out, we present the delimitations of the intellectual capital in relation with human capital, relational capital and structural capital. In terms of its measurement, we focus on a question which could be a solid base for the next studies: “Can intellectual capital be evaluated?” In this regard, a number of methods (direct and methods based on assets returns), generic model and individual company models were presented, concluding in this way with a hierarchy in terms of utility and their importance.

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Technological competitiveness of the EU member states in the era of the fourth industrial revolution

Abstract

The aim of this paper is to investigate the implications of the fourth industrial revolution for technological competitiveness, its definition and measurement methods. An empirical part is aimed at identifying comparative advantages of the European Union in digital technologies. Recently new approaches have appeared to measure digital competitiveness, however they use a broad definition of competitiveness that encompasses not only technological factors but also the macroeconomic and institutional environment (IMD, 2017; WEF, 2018). There is still a limited number of studies focused on the technological dimension of competitiveness in digital technologies. This paper fills the gap by developing a conceptual framework based on patent indicators, i.e. Patent Share and Revealed Technological Advantage indices. It allows a consistent analysis of the comparative advantages of the EU member states in digital technologies to be conducted. The results confirm a huge diversity within the EU in terms of digital technologies, their global impact and comparative advantages.

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The Impact of Crises on the Intellectual Capital of Companies in the Food Sector

Abstract

Both the financial crisis of the first decade of the 21st century, as well as the deterioration of trade relations between the European Union and the Russian Federation were events that significantly affected the functioning of the largest listed companies on the food market: on the one hand, aggravating the conditions of economic functioning, on the other hand creating a stimulus to seek new innovative solutions to help companies survive on the market. The aim of the work was to present the impact of crises on the intellectual capital of WIG-Food index companies, which is an indirect measure of innovation. The MV/BV and q-Tobin index were used for the study, as well as selected quantitative methods: multiple regression, Ward’s method and seasonal additive decomposition. The results of the work indicate that the companies are divided into two groups, within which similar trends in shaping intellectual capital are observed. In addition, one of the groups clearly noticed the impact of the financial crisis and the introduction of an embargo on the shaping of intellectual capital.

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The impact of the level of market competition intensity on enterprises activities in area of intellectual capital

Summary

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.

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R&D Expenditure and the Role of Scientists

Abstract

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.

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Rebalancing the Market Power. Manufacturer and Retailer Brands in the German Food Retail Market

Abstract

The German food retail market is considered to be one of the most competitive markets worldwide. A narrow oligopoly of domestic retail chains dominates competition at the national and regional levels, driven mostly by price competition and extensive market coverage. As a result, market entrance for potential newcomers is highly restricted, even for such global players like Wal-Mart, which retreated in 2006 after nine years of substantial financial losses in Germany. There have been discernable attempts by the domestic incumbents to rebalance the traditional “task division”, affecting the range of customers choices as well as retail brands. However, within ten years the share of large retailers brands earnings in the total food retail market increased from 21.8 percent to 38.8 percent in 2012, as “house brands” optimized their assortment, increased their independence from main suppliers and squeezed out competitors. The empirical analysis presented below describes the role played by different retail brands in German food retail market as measured by their market power, and considers its political implications.

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Analysis of the Use of Digital Technologies in Montenegro’s Tourist offer on the Example of a Hotels in Bar

Abstract

This paper presents an analysis of the current state of the use of digital technologies by the categorized hotel accommodation providers in the Municipality of Bar. The concept of SMART tourism and the use of digital technologies in tourism implies networking of tourist content throughout the country towards getting “smart experience” from local community and creating “smart business ecosystem”. Hotels at the locations need to take advantage of new technologies and include various business, sociocultural, psychological and educational components. Following was analysed: the quality of the internet presence, the level of networking with the local tourist businesses, the use of logistic innovations in tourism and the intensity of the use of social networks. The goal was to identify the level of current digital recognition and the degree of use of information technologies to point out the unused potential for the development of entrepreneurship in the hotel industry.

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Human Capital and Intellectual Capital in Modern International Business – Based on Studies of the Strategies of Transnational Corporations

Abstract

The main objective of the article is to discuss the direction of changes in the strategies of the most powerful transnational corporations as a result of adjustments to the new challenges created by the growing role of human capital in contemporary international business. Based on the concept of Grounded Theory Methodology, the author will indicate the main pillars of the strategy which can be considered effective for new challenges. The study has been divided into three parts. The first part discusses the most important theoretical issues concerning the place of human capital in the strategies of contemporary enterprises. In the second part, the author characterizes new trends in international transfers of human capital. In the next part, based on the research, the author discusses the impact of changes on the organizational and management system of enterprises – on the example of the most powerful transnational corporations. The studies have shown that all the most powerful transnational corporations notice the growing role of intellectual capital in contemporary business. The basis of corporations’ strategies is the emphasis put on the development of subsystems of intellectual capital, which refers to the activation of international transfers of human capital. In consequence, the strategies of the development of the most powerful transnational corporations are based on three pillars: networking, orchestration, and coopetition, and they are based on the three subsystems of intellectual capital: organizational capital, innovations, and the institutional environment.

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Book Markets in Europe: Facing the Challenges of the Digital Single Market

Abstract

The aim of this article is to identify the challenges created by digitalization and the Digital Single Market for book markets in Europe. The research questions are, on the one hand, related to the nature of these challenges and the impact they have on European book markets, and on the other hand, the impact of the activities of EU institutions. This leads to the hypothesis that the digitization challenges that the book markets in Europe are facing are of a technological, economic, legal, political and judicial nature. Therefore, the key research method will be an analysis of these challenges and the (re)actions (under)taken by EU institutions. The book market in Europe is characterized by diversity and fragmentation in comparison with, for example, the American market, and is losing its share in the global book market with the development of book markets in emerging markets. Over the last decade, it shrank between 2008 and 2013 and started to rise again after 2014. In contrast to the European book market, the Polish book market is gradually decreasing. The e-book market, which developed dynamically between 2009 and 2014 (often at the expense of paper books), reached the level of about 6–7% of the entire book market in Europe. To meet the challenges of the ongoing digitization, the European Union has started to implement the Digital Single Market Strategy, which also affects the European book market through the directives and regulations adopted as part of the Strategy. European copyright law, by introducing exceptions and limitations, implemented to varying degrees in individual member states, affects the business models of European publishers. In addition, the activities of authors and publishers is influenced by the case law of the Court of Justice of the European Union (CJEU). Therefore, EU institutions, through the directive on copyright in the Digital Single Market, are trying to create an appropriate legal framework for out-of-commerce works or confirm the right to fair compensation for publishers. A separate issue remains e-lending, which is related to the possibility of borrowing e-books. The development of the e-book market was limited by different VAT rates of print and digital books, which was finally resolved by the European Parliament and the Council in 2017–2018. European institutions have an impact on the book market in Europe, where the European Commission has recently been trying to solve problems resulting from the interpretation of existing directives by the CJEU.

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Assessment of the Thermal Paw Print Symmetry of the Hind Legs in Healthy Dogs

Abstract

Our bibliographic insights have shown that although thermographic imaging in small animals has been poorly studied, the empirical use of thermographic images in dogs suggests that thermographic imaging could be a useful method in assessing walking anomalies. The study aims to identify existing thermal asymmetries between the thermal paw prints of the hind limbs in healthy dogs (right versus left). For thermal investigations, the Flir E50 thermal camera with a resolution of 240×180, thermal sensitivity of 0.05ºC, 45º×34ºA visual field and unbalanced microbolometer was used. Acclimatization of the animals in the space for examination was 30 minutes (at a room temperature of 20-23°C). The resulting images were recorded, processed and analyzed with the Flir tools 2017 software. The average, maximum and minimum temperature of each image was calculated using the program. The results obtained show that between the thermal paws marks of the posterior limbs in healthy dogs there is an average thermal asymmetry comprised between 0.2 and 1.4°C. Our study suggested that, under controlled conditions, thermographic paws prints could be used to diagnose locomotor abnormalities in dogs..

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