Abstract
The paper aims to investigate the level of accumulated digital intellectual capital and investments in digital transformation in the Russian regions and study its impact on the gross regional product and companies’ revenue, as well as on the innovative activity of companies. The study relies on the multiple regression method to find significant relationships between digitalization and performance indicators in 85 Russian regions and cities of federal significance. The originality of the approach used in this study lies in the development of the digital capital theory: the authors assess the impact of accumulated digital intellectual capital and investment on the performance of manufacturing and service companies and show the difference in return on investment between sectors. The results of the study show that though Russian regions are at the initial stage of the digital economy development, digitalization has a significant positive impact on the financial and innovative performance. Manufacturing companies primarily use structural capital to create customer value. Service-oriented companies also receive a positive return on investment in human and relational capital. The results obtained can be applied in practice by the business community to support investment decisions and analyse the processes of creating digital intellectual capital in companies.
Highlights
Over the past two decades, there have been two revolutions, which, on the one hand, led to the emergence of an intangible economy, where the main value is created from intellectual capital, and on the other hand, they marked the development of the digital economy, an increase in the level of information technologies and cyber-physical systems implementation referred to as Industry 4.0 [1]
In this study, using the example of Russian companies, the positive contribution of digitalization to the economic development of regions is shown, since new information technologies cause an increase in the gross regional product and revenues of companies
This work complements the theory of intangible resources, highlighting digital intellectual capital specific to modern companies
Summary
Over the past two decades, there have been two revolutions, which, on the one hand, led to the emergence of an intangible economy, where the main value is created from intellectual capital, and on the other hand, they marked the development of the digital economy, an increase in the level of information technologies and cyber-physical systems implementation referred to as Industry 4.0 [1]. Intellectual capital in digital economy is considered as a strategic resource of organizations which offers opportunities and brings challenges regarding to performance management and control. The introduction of digital technologies determines the transformation of the production process, an increase in resource efficiency [7], as it creates the opportunity to apply alternative energy and materials and support a high level of individualization in a short time [8]. All the benefits of advanced information technologies contribute to supporting the business model innovation in companies [9], [10]
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
