Relationship Between Intellectual Capital Elements and Innovative Development of a Firm

Abstract

The research goal of this study lies in empirical investigation of the relationship between intellectual capital stocks and innovative development of Russian organizations. Accordingly, the tasks of the research are to examine the interrelation of IC elements and innovations on a global scale, to determine the specifics of innovative development in a context of Russian business environment and on a basis of that to build a comprehensive research model for testing the research hypotheses withing a sample of Russian organizations. As a result, the study indicates the significance of internal relational capital and renewal capital for the innovative development of Russian companies. Meanwhile, the impact of human capital and structural capital was not possible to estimate due to the unrepresentativeness of several items in the survey. Moreover, research has shown that contrary to European findings, external relational capital can have a negative influence on organizational innovativeness.