Impact of Intangible Capital in Croatian Economy

Principal investigator:
Prof. Dunja Škalamera-Alilović, PhD - EFRI

Co-investigators
Prof. Mira Dimitrić, PhD - EFRI
Prof. Nada Denona Bogović,PhD - EFRI
Prof. Tjaša Redek,PhD - FELU, Slovenia
Prof. Davor Vašiček, PhD - EFRI
Prof. Nikolina Dukić Samaržija, PhD - EFRI
Prof. Andrea Arbula Blecich, PhD - EFRI
Daria Maravić - PhD student EFRI


Summary

Traditional economic doctrine, in the research of the source of value creation shaped the concepts of material (tangible) and financial capital. In contemporary economic conditions intangible capital - intellectual capital, knowledge, intangible assets, 'hidden' capital, innovations, information, etc., is gaining importance for the well-being and development of national economies. It has been shown that this very capital has surpassed the potential of a mere combination of the traditional factors of production, and has enabled unprecedented growth in new value creation. Intangible capital is becoming dominant factor for the profit performance of companies as well as for the global competitiveness of national economies. Therefore, it is justified to devote research effort in defining criteria and developing methodology for identification and evaluation of the constituent elements of intangible capital, and to measurement of its impact at all levels of economic activities - from the enterprise level to the national and global levels. This is particularly justified and necessary in national economies that want to accelerate the pace of achieving more desirable development levels, such as Croatia.This project aims to open the area of research and measurement of the impacts of intangible capital in the Croatian economy - in the private and public sector, including microeconomic and macroeconomic aspects of analysis as well as accounting issues of recognition and measurement of intangible assets.Previous research has demonstrated the importance of intangible capital. The methodology of measurement developed so far will be applied and improved, which is the main objective of the proposed project. The project aims to prove the existence of links between intangible capital and national economy pace of growth, national competitiveness and the performance of business entities. Research team with its current scientific profile can cover all the proposed research areas, and the project should also enable the development of a young associate - Ph.D. student.