Assessing Intellectual Capital from the Perspective of its Rental Income Performance

Abstract

The transformation processes in economic relations have led to the growing value of intellectual capital, which ensures strategic development of an economic entity. Intangible assets, technological and product innovations are the things that precondition the competitiveness of both the entrepreneurial sector and the national economy as a whole. Thus, it is essential to ensure that the level of intellectual capital of every individual business entity is fairly assessed. Nevertheless, so far there is no versatile method to make such an assessment, which increases the relevance of the search for new ways and their comparison with the existing ones. In this study we suggest developing a methodology for assessing intellectual capital from the perspective of its rental income performance. It is also possible to carry out a comparative analysis of the proposed method and the classical ways that are used to assess the intellectual capital of the enterprise, which include: Tobin's Q approach, market capitalization method and Pulic's method of value added intellectual capital. These methods were tried in an industrial enterprise, operating in the mechanical engineering sector and involved in intensive innovative activities. Based on the data obtained it is possible to conclude that the authors' approach is significant and can be compared with other methods. Assessing the intellectualization level of the enterprise makes it possible to define the strategic perspectives of its long-term development.