Effects of intellectual capital investments on productivity and profitability
by Jaani Vaisanen, Paula Kujansivu, Antti Lonnqvist
International Journal of Learning and Intellectual Capital (IJLIC), Vol. 4, No. 4, 2007

Abstract: The objective is to determine how investments in Intellectual Capital (IC) affect a company's productivity and profitability. The examination is based on a large set of financial statement information covering a three-year period. Time-lagged correlation and regression analyses are used to study the relationships within the whole data set, in different industries as well as in SMEs and large companies. The findings suggest that the short-term impact of IC investments on productivity and profitability is negative. However, the findings also provide support for the earlier research evidence suggesting that investments in IC do yield benefits, but they may come with a delay.

Online publication date: Wed, 19-Dec-2007

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