Proceedings

external capital (the customers – company’s customers, the loyalty of customers, customer
relations, customer involvement, attracting new customers; the reputation / image of the
company; the supply and distribution channels – relations with suppliers and competitors;
the cooperation – in business, research, concluded contracts; concluded agreements –
franchises, licenses) and four for the human capital (education; employees; work-related
knowledge and work-related competencies).
3. THE ANALYSIS OF OBTAINED RESULTS
Starting from the classification of the intellectual capital elements by means of a
modified version of the Sveiby’s model (Bozzolan et al., 2003), we have performed a
content analysis of the annual statements of the entities listed on the Bucharest Stock
Exchange (Table 1) during which we have monitored the three dimensions of the
intellectual capital conceptual framework (internal, external and human capital) together
with the related subcategories we have grouped according to Table 2.
Table 1. The scoring system of information regarding intellectual capital within
Romanian listed entities in 2009
(panel A)
Structural/ Internal
Capital
Intellectual property
(patents, copyrights,
registered trademark)
Infrastructure assets
(corporate culture,
management of
processes, IT system,
networks systems,
research projects,
financial relations)
Relational/ External
Capital
Customers
(company’s customers,
the loyalty of
customers, customer
relations, customer
involvement, attracting
new customers)
The image of the
company
Supply and distribution
channels (relations with
suppliers and
competitors)
Aerostar
Alro
Altur
Alumil Rom Industry
Amonil
Antibiotice
Armatura
~ 383 ~
Azomures
Banca Comerciala
Carpatica
Banca Transilvania
Bermas
Biofarm
Boromir Prod
Banca Romana de
Dezvoltare
0,3 0,3 0,3 0,3 0,3 0,5 0,5 0,3 0,3 0,3 0 0,3 0,3 0,3 1
0 0 0 0 0 0,5 0,5 0 0 0 0 0 0 0 1
0,5 0,5 0,5 0,5 0,5 0,5 0,5 0,5 0,5 0,5 0 0,5 0,5 0,5 0,5
0,4 0,5 0,2 0,7 0,4 0,5 0,4 0,6 0,5 0,3 0,4 0,5 0 0 0,6
0,5 1 0,5 1 0 0,5 0,5 0,5 0,5 1 1 1 0 0 1
0 0 0 0 0 0,5 0,5 0,5 0,5 0 0 0 0 0 0,5
0,5 1 0,5 0,5 1 0,5 0,5 0,5 0,5 0,5 0,5 1 0 0 0,5
CNTEE Electrica