Booker1, nick bontis1 and alexander serenko2 1degroote school of business, mcmaster university, hamilton, ontario, canada. European journal of business management, 21, 161180. A theory of intellectual capital louise harris, 2000. The theory of intellectual capital has emerged in the past decade in response to the growing realization of the importance of information and knowledge because ntellectual capital was first. The concept of intellectual capital is different from the concept of human capital, with definitions of the most varied and the most complex concepts related both to the concept of intellectual capital and to the concept of human capital.
For all other assets of a company, there exists standard criteria for expressing their value. These assets include the expertise of employees, organizational processes, and sum of knowledge contained within the organization. By continuing to use our website, you are agreeing to our use of cookies. This paper presents the operationalization of concepts in the nursing intellectual capital theory and the results of a methodological study aimed to empirically validate the concepts. During this time, it has been both widely taken up and subjected to criticism. Managing intellectual capital intellectual capital management is the active management of intellectual capital resources with multiplicative effects. Intellectual capital theory defines human capital as the knowledge, talents and experience of employees stewart, 2001. Using data on 51 firms traded in the egyptian exchange from 2014 to 2016, this paper aimed to assess the efficiency of corporate governance cg and intellectual capital pdf 271 kb revisiting intangible capital and labour productivity growth, 20002015. Pdf nursing intellectual capital theory semantic scholar. There is no commonly agreed definition of intangibles the. Nursing intellectual capital theory is a middlerange theory as it is composed of a limited number of concepts and propositions which can be measured and tested in different contexts fawcett, 1998. Based on theoretically and empirically robust human capital theory, we define intellectual capital as individuals complementary capacity to generate added value. This is all the money your company has access to and the valuation of everything it owns. The theory of intellectual capital has emerged in the past decade in response to the growing realization of the importance of information and knowledge because ntellectual capital was first conceptualized during the same time period that the ideas of knowledge management and human capital became an important part of organizational discussion, now more than ever, it is essential to clarify, define, and differentiate the concept of intellectual capital this chapter summarizes current theories.
Dec 15, 2015 a bibliometric analysis of research on intellectual capital in healthcare. This knowledge capital is commonly referred to as a firms intellectual capital ic. Many teachers find the concept of capital a difficult. Intellectual capital key questions and answers found in the literature.
This paper is a report of the development of the middle. Relational capital is the external linkage of the company with suppliers and customers that enables it to procure and sell goods and services in an effortless manner. Capital is not something wed normally associate with teaching. Karanja ngugi department of accounting and finance kenyatta university kenya citation.
The impact of intellectual capital on organizational. The schemes that can be applied singly or across the three types relate to 14value creationthe strategic generation of knowledge and its conversion into valuable forms. Intellectual capital is just like this but instead of money, its the total of a companys knowledge. Evaluating the effects of organizational learning on. Lepak and snell, 1999 and utility theory stigler, 1950a, 1950b. The following are the primary types of intellectual capital.
First, intellectual capital is a firms only appreciable asset. Understandably, the term intellectual capital from a human resources perspective is not easily translatable into financial terms. The theory of intellectual capital has emerged in the past decade in response to the growing realization of the importance of information and knowledge because ntellectual capital was first conceptualized during the same time period that the ideas of knowledge management and human capital became an important part of organizational discussion. The relationship of nursing intellectual capital to the. It encompasses theoretical and practical knowledge needed for the delivery of care. Visionary in scope, intellectual capital is the first book that shows how to turn the untapped knowledge of an organization into its greatest competitive weapon. They are stakeholder theory, legitimacy theory and signaling theory. To better understand this process, this article serves as an introduction to intellectual capital theory and research. Covell doctor of philosophy lawrence bloomberg faculty of nursing university of toronto 2011 abstract to ensure quality patient care hospitals invest in nursing intellectual capital by allocating. The purpose of this paper is application of intellectual capital ic approach for developing a strategic management model as a means of. Emerald journal of intellectual capital information. Intellectual capital theory of entrepreneurship kenyatta university.
The disclosure of intellectual capital will be analyzed using three theories. Origin and evolution investments on productivity and profitability, journal of learning and intellectual capital, 33, 233248. Intellectual capital is the intangible value of a business, covering its people human capital, the value relating to its relationships relational capital, and everything that is left when the employees go home structural capital, of. This is why very often individuals who are the most difficult to replace in the company, and who hold high value, are those who have created high levels of social capital through the communities and groups in which they interact. Stewart demonstrates how knowledgenot natural resources, machinery, or financial capital has become the most important factor in economic life. Procedia social and behavioral sciences 221 2016 194 a 202 hypothesis 4. Intellectual capital is a set of non financial,non physical resources that procures a copmpetitive advantage for the enterprise jussupova, mariethoz and probst, 2007. The original idea of capital comes from the economic sector, and whether you are warren buffett or adam smith or karl marx, one part of the idea is basically the. Characteristics of intellectual capital although intellectual capital is similar to tangible assets in its potential for generating future cash. Genesis of the theory of intellectual capital and its. General interest commercial construction gambling industry industry forecasts intellectual property intellectual capital models study and teaching. This pdf gives you the longer chunk of text about pierre bourdieu and james coleman, as referred to there. Intellectual capital is considered as the knowledge, skills and practical experience, which are implemented through the intellectual activity of persons. Intellectual capital is the intangible value of a business.
A primer on intellectual capital asian development bank. The new wealth of organization kindle edition by stewart, thomas a download it once and read it on your kindle device, pc, phones or tablets. Understanding the various effects that exist among intellectual capital, knowledge sharing, and organizational performance is the main purpose of this study. Rising healthcare costs and advances in technology have contributed to the need for better understanding of the influence of nurses knowledge, skills and experience on patient and organizational outcomes. Under stakeholder theory, an organization management is expected to take an activities expected by their. Based on theoretically and empirically robust human capital theory, we define intellectual capital as individuals complementary capacity to generate added value and thus create wealth. Human capital resides within the employee and is loaned to the organization. The relation between resource based view and intellectual capital theory. Social capital theory an overview sciencedirect topics. The theory also proposes that two concepts in the work environment, nurse staffing and employer support for nursing continuing professional development.
Bourdieu on social capital theory of capital pierre bourdieu 1930 2002 was a french sociologist and public intellectual who was primarily concerned with the dynamics of power in society. A significant contribution to the development of the theory of intellectual capital. In this article we seek to contribute to this body of work by developing the following arguments. The main aim of this study was to examine the effect of the components of intellectual capital on the organizational performance of smes operating in tourism sector at. A study in economic theory and policy, the economic journal, volume 86, issue 342, 1 june 1976, pages we use cookies to enhance your experience on our website.
Intellectual capital is the intangible value of a business, covering its people human capital, the value relating to its relationships relational capital, and everything that is left when the employees go home structural capital, of which intellectual property ip is but one component. Intellectual capital refers to the intangible assets that contribute to a companys bottom line. His work on the sociology of culture continues to be highly influential, including his theories of social stratification that deals with status and. Resources are then perceived to be both tangible and intangible. Intellectual capital in tourism smes in azad jammu and kashmir, pakistan muhammad khalique, khushbakht hina, t. Coefficient provided a historical background of the origins of the concpet of intellectual capital and identified different models and methodologies that had evolved.
They are all factors which tend to get overlooked because they are intangible and do not show up on a balance sheet. Accounting for the crisis and economic recovery in the eu. Nov 16, 2012 the nursing intellectual capital theory proposes that the stocks of nursing knowledge in an organization are embedded in two concepts, nursing human capital and nursing structural capital. However, the development of the theory of intellectual capital has in recent years been guided by the ideas and thoughts of influential authors and practitioners, including kaplan and norton 1992, sveiby 1997, stewart 1997, edvinsson and malone 1997, brooking 1997 and many others harris, 2000. Journal of intellectual capital capital intelectual. Intellectual capital is a phrase covering corporate brainpower, information technology, and relationships with customers and suppliers, all of which influence a companys ability to make money. The term intellectual capital collectively refers to all resources that determine the value of an organization, and the competitiveness of an enterprise.
The theory also proposes that two concepts within the work environment, nurse staffing and employer support for nursing continuing professional development influence nursing human capital. Definitions in 1997, thomas stewart published intellectual capital and wrote, intellectual. Consequently, the impact of intellectual capital on organizational performance is high, allowing the validation of the assumed association in 201 luminita maria gogan et al. The effect of intellectual capital on organizational. The theory of intellectual capital has emerged in the past decade in response to the growing realization of the importance of. Genesis of the theory of intellectual capital and its importance in modern. Intellect the power or faculty of the mind by which one knows or understands, by which one feels and by which one wills. The nursing intellectual capital theory defines nursing human capital as the nursing knowledge that resides within the nursing staff. In this article, intellectual capital is seen as complementary capacities of competence and commitment. This includes anything that isnt physical that adds to the productive capacity of a firm. A firms ic is made up of human, social and structural capital innovation and process capital edvinsson and malone 1997. Data were gathered from 356 employees working in manufacturing companies in jordan. The journal publishes original research and case studies by academic. A very effective way to start unearthing the intellectual capital is to decide on the broadbased audience clients.
Social capital, intellectual capital, and the organizational advantage janine nahapiet templeton college, university of oxford sumantra ghoshal london business school scholars of the theory of the firm have begun to emphasize the sources and conditions. Critical issues of intellectual capital theory in transitional countries l. Social capital, intellectual capital, and the organizational. The journal of human resource and adult learning vol. A theory of intellectual capital louise harris, 2000 sage journals. Oct 25, 2011 purpose knowledge management km and intellectual capital ic are believed to influence each other, and the relationship between the two constructs is of vital importance to organizational effectiveness. Intellectual capital theory of entrepreneurship dr. Jun 07, 2015 intellectual capital is the foundation of all thought leadership campaigns. This briefing will follow the approach adopted by the meritum guidelines for managing and reporting on intangibles and will use intangibles and intellectual capital interchangeably. Derived from intellectual capital theory, which is grounded in the fields of economics and accounting, the nursing intellectual capital theory conceptualizes the stocks of. The relevance of knowledge management and intellectual. Use features like bookmarks, note taking and highlighting while reading intellectual capital.
The nursing intellectual capital theory conceptualizes nursing knowledges influence on patient and organizational outcomes. This study explores decision models for investments in human capital from two perspectives. Pdf critical issues of intellectual capital theory in transitional. Intellectual capital is the foundation of all thought leadership campaigns.
Bourdieu on social capital theory of capital social. The resourcebased view rbv of a firm has been developed for over 30 years. The theory proposes nursing human capital, nurses knowledge, skills and experience, is related to the quality of. A very effective way to start unearthing the intellectual capital is. Intellectual capital key questions and answers found in the literature source. Houston has relied heavily on intellectual capital to leverage their makeover. The relationship of nursing intellectual capital to the quality of patient care and the recruitment and retention of registered nurses christine l. Intellectual capital the commitment and competence of workers is embedded in how each employee thinks about and does work and in how an organization creates policies and systems to get work done. Intellectual property is the value of a company or organizations employee knowledge, skills, business training or any proprietary information that may provide the company. The nursing intellectual capital theory proposes the stocks of nursing knowledge within an organization are embedded in two concepts, nursing human capital and nursing structural capital. Nursing intellectual capital theory the nursing intellectual capital theory was developed by using the strategies of theory derivation outlined by walker and avant 2010. Social capital, intellectual capital, and the organizational advantage janine nahapiet templeton college, university of oxford sumantra ghoshal london business school scholars of the theory of the firm have begun to emphasize the sources and conditions of what has been described as the organizational advantage, rather than focus on. Based on theoretically and empirically robust human capital theory, we define intellectual.
Intellectual capital the body of knowledge, which is available to an organization through its employees, as well as in the form of methodologies, patents, architectures and communications. Dec 18, 20 the relation between resource based view and intellectual capital theory. Pdf nowdays intellectual capital has become one of most important resources which provide sustainable. Nursing intellectual capital theory is composed of two interdependent concepts, nursing human capital and nursing structural capital. It introduces a framework for understanding the contribution of nursing knowledge within an organization.
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