Comparative analysis of results of using assessment methods for intellectual capital

Abstract

The importance of intellectualizing modern society means a more complete study of the role intellectual capital has in the development of industrial relations is required. This is due to the fact that increasing the intellectual component is integral to building an innovation economy. A fair assessment of intellectual capital should be given. This will allow its level in a specific organization to be identified and the amount of intellectual capital to be compared with other business entities. This paper gives a comparative analysis of the use of methods for assessing the intellectual capital of a business, namely: the cost approach method, the market capitalization method, and the intellectual value added method. When examining the intellectual capital, its various components, i.e., its relational, human, and organizational capital, were used. The synergy of these components helps maximize the positive effect. The methods listed above have a practical application and were tested on a business. Using these methods made it possible to determine the quantitative and qualitative value of the intellectual capital. Thus, it was possible to not only judge the availability of intellectual resources at the current time period, but also to study the dynamics of intellectual changes, as well as build a comparative characteristic both at a microlevel with other businesses and comparing it at the meso level with the whole industry. Such practice will make it possible to come up with recommendations on how to use intellectual capital, determine its sufficiency, taking into account the industry average parameters of intellectualization. Despite the growing significance of intellectual capital and the grand scale of this problem, there are big gaps in terms of its evaluation. These are due to the insufficient number of market criteria and the inability to display them in financial statements in full. The guidelines looked at in this paper allow the amount of a company’s intellectual capital to be assessed, thus giving the opportunity to come to objective conclusions about the level of intellectualization while taking into consideration the specifics of the business activities. It also reveals the main factors influencing intellectualization and allows suggestions to be made on how to use the intangible resources available in the most rational way.