Abstract
The present research aims to investigate the effect of intellectual capital on innovation in Zanjan Science and Technology Park (STP) during 2013. This study was conducted based on the quality-correlation method. The research questionnaire was distributed between employees who worked for any of the firms inside the STP. In general, 220 employees work in Zanjan Science and Technology Park, 139 of whom were selected using the Cochran’s formula to reply to the questionnaire. Structural equation modeling was used to analyze the data. The results of the correlation test revealed a significant positive relationship between intellectual capital and innovation. The elements of structural capital and human capital did not indicate any significant relationship with innovation. However, it was found that the elements of intellectual capital (i.e. human capital, structural capital, and relational capital) can be used as predictors of innovation in our case study.
Highlights
Today, with the global trend toward knowledge-based economies, firms need embrace innovation in order to survive and grow in intense competition
Capital was modified from its traditional economic basis to first comprise human capital (HC), and social capital, and intellectual capital (IC) implications
HC has been defined as the set of knowledge, skills, abilities, and experiences of the employees that help with creating value and solving business problems and it is considered a source of innovation [15]
Summary
With the global trend toward knowledge-based economies, firms need embrace innovation in order to survive and grow in intense competition. Capital was modified from its traditional economic basis to first comprise human capital (HC), and social capital, and intellectual capital (IC) implications These changes in the forms of capital have attracted the attention of a number of scholars as a key factor in fostering innovation [2,3,4,5]. HC refers to individual knowledge, skills, abilities, and experiences of the employees in an organization [7]. Due to the flexible structure of STP, SC could lead STP’s firms toward innovative environments via their internal and external communications (i.e. RC) and via benefiting from employees knowledge, ability and experiences (HC). The existence of a relationship between them is of great importance and organizations shouldn’t focus on improving one capital only
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