Document Type : Original Article

Authors

1 Ma Of Economics, Shahrood University Of Technology

2 Assistant Professor of Economics, Shahrood University of Technology, Shahrood, Iran

Abstract

 
Expended Abstract:
Introduction:
Intellectual capital is defined as "the ability to transfer knowledge and intangible assets to resources for wealth creation. Intellectual capital can be recognized as knowledge-based assets that underpin the growth of the country. Knowledge increases the country's wealth if its importance is known and is different from the existing work practices, and Knowledge transfer is essential in this regard. Intellectual capital can be recognized as knowledge-based assets that underpin the growth of the country. In recent decades non-financial assets that constitute intellectual capital are the most important source of wealth creation and national progress. Knowledge and information are the main features of nations seeking development.
 Theoretical frame work:
   Investing in intangible assets is recognized as an essential factor in improving performance. Companies and countries' attention to the use of knowledge has led to creating competitive advantage and the implementation of national and regional innovation systems. Intellectual capital is an abstract and complex concept that is difficult to identify and define and can be examined at firms and countries. Most of the observations have been from the classification of intellectual capital to human capital, communication, and structure, and this model is used in many measurements at the organizational and national levels.
Methodology:
This paper examines the impact of intellectual capital on Iran's economic growth using the system dynamics model.  The system dynamics model is one of the best scientific methods for complex models such as technical, economic, and nonlinear dynamic systems. It is, therefore, appropriate to monitor and evaluate the effects of intellectual capital on economic growth. It is an advanced method of analyzing the dynamic behavior of a complex system. The dynamics model structure gives a better picture of complex systems such as the intellectual capital system and the economic growth system. In this study, the indirect effect of this factor on economic growth has been investigated by changing the factors related to intellectual capital. Realism test and limit condition test, and sensitivity test of variables were performed to examine the behavior of variables, as a result of which the model of this research showed a logical behavior. The study period is 2001-2015, and its simulation is planned until 2031. It is also confirmed based on the DOLS model
Results and Discussion
Within the framework of this study, three hypotheses were examined. According to the first three hypotheses, with increasing intellectual capital, productivity increases and increases with increasing economic growth productivity. Of course, this effect does not happen quickly and is delayed. According to the second hypothesis, when human capital increases, intellectual capital also increases, and according to the third hypothesis, intellectual capital doing activities in a new and better way leads to higher productivity. The results obtained from the system dynamics model indicate the positive and small impact of intellectual capital on Iran's economic growth, which is also confirmed based on the DOLS model. The reason for the small impact of intellectual capital on growth is the lack of infrastructure and complementary conditions that can be provided with appropriate planning and policies.
Conclusions and Suggestions
From the policy applications of this research, it is important to note that if the high growth of intellectual capital is to be fully effective in economic growth, there must be other conditions that are not entirely possible in the real world but can be Reduce this gap with proper planning and policies. Another important point is the importance of paying attention to the development and promotion of human capital to increase human resources productivity and the development of intellectual capital, which policymakers should consider. To improve the status of human capital, it is necessary to pay more attention to the development of skills and capabilities of the workforce at the beginning and during entry through rational investments in secondary and higher education and skills training. In conclusion, the discussion of intellectual capital, given that it is a new topic, has a very important and valuable role in individuals' prosperity, improving living standards and income, increasing knowledge and skills, production capacity, economic growth, and poverty reduction. It should be noted that the economic attitude to intellectual capital (on education and training) is very useful for the country's productivity and guarantees the country's success and economic progress.
 

Keywords

References
[1]     Abbasi, T. Hashemi, M. Armineh, A. Bakhtiari, M. (2014). Examining the relationship between intellectual capital and labor productivity: with an emphasis on organizational learning, Journal of Public Administration, Volume 6, Number 4, pp. 891-917(in Persian).
[2]     Beran,I.M. (2015). System dynamic modeling and simulating the effects of intellectual capital on economic growth. Croatian Operational Rssearch Review, pp. 45-60
[3]     Bontis, N. (2004). National Intellectual Capital Index: The Benchmarking of Arab Countries. Journal of Intellectual Capital, Vol. 5 No. 1, pp. 13-39
[4]     Choo, C.W. Bontis, N. (2002). The Strategic Management of Intellectual Capital and Organizational Knowledge, Oxford University Press, New York, NY
[5]     Edvinsson, L. (2005). Regional Intellectual Capital in Waiting: A Strategic Intellectual Capital Quest, in Bonfour, A., Edvinsson, L. (Eds), Intellectual Capital for Communities. Elsevier, Oxford.
[6]     Edvinsson, L. Bounfour, A. (2004). ‘Assessing national and regional value creation’, Measuring Business Excellence, Vol. 8, No. 1, pp.55–61.
[7]     Edvinsson, L.  Malone, M.S. (1997). Intellectual capital: Realizing your company’s true value by finding its hidden brainpower, New York, NY., Harper Business.
[8]     Fazlzadeh, Alireza, and Sajad Naghdi and Hojjat Mohammadi. (2017). Intellectual Capital and Economic Growth in Related to Tehran Stock Exchange Companies, Journal of Accounting Reviews, Volume 4, Number 15, Summer, pp. 93-112(in Persian).
[9]     Hudson, W.J. (1993). Intellectual Capital: How to Build It, Enhance It, Use It, New York: John Wiley.
[10] Krstic, Bojan and Tamara Radjenovic. (2017). Intellectual Capital as the Source of Competitive Advantage: The Resource-Based View, Facta Universitatis Series Economics and Organization 14(2):127-137
[11] Lin, C.Y.Y. Edvinsson, L. (2011). National Intellectual Capital: A Comparison of 40 Countries, Springer Publishing Co., NY, ISBN: 978-1-4419-7376-45.
[12] Loyarte E, Garcia-Olaizola I, Marcos G, Moral M, Gurrutxaga N, Florez-Esnal J, et al. (2018). Model for calculating the intellectual capital of research centres, Journal of Intellectual Capital:787-813.
[13] Malhotra, Y. (2003). Measuring knowledge assets of a nation: Knowledge systems for development. Ad Hoc Group meeting Knowledge for Developmen.
[14] Manzoor, D. Nouri Inanloo, A. (2005). Estimating the function of household energy demand: a dynamic least squares approach. Research Quarterly of Imam Sadegh (AS) University, No. 27, pp. 22-35(in Persian).
[15] Mohammadi, M. Bidi, r. Abbasian Naghneh, S. (2015). Investigating the relationship between knowledge-based economy and intellectual capital. National Conference on Future Studies in Humanities and Development(in Persian).
[16]  Nunez,M.  Nunez, J. Rivero,A. (2017). Structural Relationship among Intellectual Capital Dimensions.  International Journal of Advanced Corporate Learning (iJAC) 10(1):33
[17] OECD. (2013). Supporting Investment in Knowledge Capital, Growth and Innovation, OECD Publishings.
[18] Rajaeian, M. (2009). Simulating Dynamic Systems with Vensim, first edition, Ferdowsi University of Mashhad Press, p.21(in Persian).
[19] Ranaei Kordshouli, H. Farhangiyan, B. Amini, M. (2016). Intellectual capital in Iran and the region countries: A comparative perspective, Iranian Journal of Management Sciences, Eleventh Year, No. 41, pp. 1-28(in Persian).
[20] Rosssi, F. M. Citro,F. Bisogno, M. (2016). Intellectual­ capital in action: evidence from Italian local government. Journal of Intellectual Capital
[21] Sheikhi, a. Eskandari, gh. Valizadeh, A. (2016). Ranking of intellectual capital measurement indicators using fuzzy technique (Case study of Fars Province Gas Company). New Research in Management and Accounting, Second Year, No. 3. (in Persian).
[22] Shekari, A. Arefi, M. (2015). Investigating the impact of intellectual capital on improving and creating national capital in the context of resistance economy, First International Conference on Accounting, Management and Innovation in Business(in Persian).
[23] Stahle, P. (2008). National intellectual capital as an economic driver: perspectives on identification and measurement. In: AHONEN, G. (ed.) Inspired by Knowledge in Organizations. Essays in honour of Professor Karl-Erik Sveiby in his 60th birthday 29th June 2008.: Swedish School of Economics and Business Administration
[24] Stahle, P. Poyhonene, A. (2005). ‘Intellectual capital and national competitiveness: a critical examination. Case Finland’, Proceedings of the 6th European Conference of Knowledge Management (ECKM), University of Limerick, Limerick.
[25] Statistical Centre of Iran, Statistical Yearbook (2001-2015). (in Persian).
[26] Sterman, J. (2009). Business Dynamics. Volume One, Kourosh Bararpour, Parisa Mousavi Ahranjani, Banafsheh Behzad, Marziyeh Emami, Laleh Rezaii Adl, Hassan Faghani, Fifth Edition, University Humanities Books Organization (Samt), Tehran. (in Persian).
[27]  Stock, James and Mark Watson, (1993). A Simple Estimator of Cointegrating Vectors in Higher Order Integrated Systems, Econometrica, vol. 61, issue 4, 783-820.
[28] Tai, W. S. Chen, C. T. (2009). A new evaluation model for intellectual capital based on computing with linguistic variable. Expert Systems with Applications, 36, pp. 3483–3488.
[29] Yaseen, S.G. Dajani, D. Hasan, Y. (2016). The impact of intellectual capital on the competitive advantage: Applied study in Jordanian telecommunication companies. Computers in Human Behavior 62,pp.168-175
CAPTCHA Image