Proceedings of the 12th European Conference on Knowledge ...

Elena Shakina and Anna Bykova
Figure 4: Description <strong>of</strong> <strong>the</strong> intellectual capital attributes
This study examines <strong>the</strong> local economic impact <strong>of</strong> intellectual capital components on Russian and
<strong>European</strong> companies’ performance. To assess <strong>the</strong> economic impact we use a number <strong>of</strong> different
dependent variables measured at <strong>the</strong> level <strong>of</strong> an individual company. Figure 5 provides a brief
description <strong>of</strong> variables used in our study, which were selected based on earlier studies and
<strong>the</strong>oretical models. In order to capture possible relationships and significant internal and external
factors, we also consider natural logarithms <strong>of</strong> <strong>the</strong> measures.
Figure 5: Variable list
Notes:
* Criteria:
If more than one third <strong>of</strong> directors have postgraduate level <strong>of</strong> qualification and more than 5 years
experience – 2 points.
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