Intellectual capital and competitiveness of industrial enterprises of the Baltic countries

Abstract

Introduction to the topic under investigation. With the transition to the information economy, intellectual capital is becoming increasingly important and can be considered as a source of formation of the competitiveness of an enterprise. It should also be noted that despite the many approaches to assessing competitiveness, not all of them withstand criticism or are widely used in practice. Purpose. The purpose of the study is to analyze the intellectual capital and competitiveness of industrial enterprises of the Baltic states. Methodology. The study uses quantitative and qualitative methods; the value added intellectual coefficient (VAIC) was used to assess intellectual capital, while the dynamic method and rating assessment of financial indicators were used to assess the competitiveness of enterprises. Main results. The paper analyses the competitiveness of enterprises and calculates the value added intellectual coefficient (VAIC) of industrial enterprises whose shares are listed on the Nasdaq Baltic market. The study confirms that more efficient use of intellectual capital provides higher indicators of competitiveness of an enterprise; however, the competitiveness of an enterprise is influenced by other factors, for example, the sources of financing used. The theoretical contribution. The dynamic method of assessing the competitiveness of enterprises was employed; it was shown that more effective use of intellectual capital provides an enterprise with competitive advantages. Practical implications. To assess the competitiveness of an enterprise, we use a refined dynamic method, which is supplemented by the VAIC indicator, which will allow us to take into account in the assessment the effectiveness of the use of the intellectual capital of an enterprise. Keywords: intellectual capital, competitiveness, value added intellectual coefficient (VAIC), dynamic method of competitiveness, rating assessment of financial indicators.