Authors: Paola Demartini; Francesca Maria Cesaroni; Mara Del Baldo; Paola Paoloni
Addresses: Department of Business Studies, University of Rome TRE, Via Silvio D'Amico, Rome, Italy ' Department of Economics, Society and Politics - DESP School of Economics University of Urbino Carlo Bo Via Saffi, 42 - 61029 URBINO (PU) Italy ' Department of Economics, Society and Politics – DESP, School of Economics, University of Urbino Carlo Bo, Via Saffi, 42 – 61029 URBINO (PU), Italy ' Department of UNISU, Niccolò Cusano University, Via Don Carlo Gnocchi, 3 – 00166 Rome, Italy
Abstract: Traditionally, intellectual capital (IC) is seen as consisting of three components: human, structural and relational capital. Nevertheless, an emerging body of literature has started to suggest that three other components also form part of IC. These are renewal capital (RC), trust capital (TC) and entrepreneurial capital (EC). This paper shows preliminary results from the Italian unit of an international project on intellectual capital and value creation. The article focuses particularly on EC and RC, to ascertain their influence on the performance of firms using descriptive analysis techniques. Multi-item scales are used as key tools to achieve the research goals. Our analysis reveals a markedly positive relationship between EBITDA and EC. RC and EC levels positively influence ROI. Finally, RC is linked to positive effects on ROA.
Keywords: intellectual capital; entrepreneurial capital; renewal capital; corporate performance; Italy.
Global Business and Economics Review, 2017 Vol.19 No.4, pp.468 - 484
Received: 08 Jun 2016
Accepted: 31 Oct 2016
Published online: 10 Jul 2017 *