Intellectual Capital and Value Creation: A Review  

Oleh:

Ashton, Robert H.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Journal of Accounting Literature vol. 2005 no. 24 (2005), page 053-134.
Topik: Public Sector Accounting; PSA; Skandia Business Navigator; Intellectual Capital Distinction Tree
Fulltext: JAL 05 24 053.pdf (5.72MB)

Isi artikel

This paper uses the Skandia Business Navigator as an organizing framework for reviewing a large body of research that examines the effects of intangible value drivers on financial outcomes at both the firm and market level. Almost 200 relevant studies are identified, conducted over more than 20 years from several disciplinary perspectives in addition to accounting, including marketing, operations, human resources, economics, strategy, and information technology. The purpose of the paper is to bring together this diverse set of studies, to organize the research within a common framework, and thus to provide a foundation for future research on value creation that will be informed by existing results and perspectives. The paper is organized as follows. The next section discusses the recent interest in measuring and reporting intangible value drivers both for internal use and for inclusion in an expanded set of external disclosures. This is followed by a description of Skandia, particularly its Assurance and Financial Services division which pioneered two developments that led directly to the Skandia Business Navigator—the "specialists-in-collaboration" concept that formed the basis for a new business model and the "federative" organizational structure that supports it. The Business Navigator, which is the centerpiece of Skandia's intellectual capital framework and the organizing principle for the research reviewed here, is described next. The Skandia Value Scheme, which disaggregates the components of intellectual capital to make the concept less abstract, and the related Intellectual Capital Distinction Tree, are also described. The following section organizes the research evidence according to the four nonfinancial "focus areas" of the Business Navigator—human, customer, process, and renewal and development—and selected research studies in each category are reviewed. Many additional studies are summarized in the Annotated Bibliography. A final section summarizes and concludes the paper.

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