THE VALUE AND EFFICIENCY OF INTELLECTUAL CAPITAL IN FINNISH COMPANIES

This paper provides a view to the present state of intellectual capital (IC) in Finnish companies. The study is based on applying Calculated Intangible Value (CIV), which measures the monetary value of IC, and Value Added Intellectual Coefficient (VAICTM), which describes how a company's IC adds value to the company. The data comprises of information from the financial statements of Finnish companies during the time between 2001 and 2003. Altogether around 20000 companies per year are studied. This paper also examines the empirical relationship between the concepts value of IC and efficiency of IC.