National intellectual capital in European Union countries in 2013-2017

Abstract

Purpose: The broadening of the concept of intellectual capital from the micro level to the macro level presents a challenge for contemporary researchers. No universal definition of national intellectual capital (NIC) or its taxonomy have been developed as yet. This hampers empirical research on measuring NIC resources, thus rendering it difficult to make cross-sectional and temporal comparisons. Therefore, methods are being sought to allow for estimating the volumes of intellectual capital on a macroeconomic level. The purpose of the article is to present an original concept of measuring NIC in the European Union (EU) countries, construct a synthetic measure of NIC on the basis of TOPSIS method, and create a ranking and classification of the EU countries in terms of their NIC resources. Design/Methodology/Approach: The study uses TOPSIS, which is a multi-criteria decision-making method. Findings: The obtained results reveal strong disparities between the EU countries as regards NIC resources. They confirm, moreover, the existence of high intellectual capital resources in the countries of Northern Europe. Practical Implications: The outcomes of the conducted study and its conclusions can be used by decision-makers, both at the EU level and in particular countries. They can also serve as an instrument for bolstering the policies and practices promoting a holistic approach to socio-economic development. Originality/Value: The article contains an original author's concept of measuring NIC resources, which can be applied to cross-sectional and temporal comparisons across EU countries.