Does Intellectual Capital affect the Venture Creation?

Abstract

Over the last twenty years the economic scenario of the world has shifted from manufacturing to knowledge aspect (Guthrie & Petty, 2000; Marr, Schiuma, & Neely, 2004). Firms, who are willing to get the competitive advantage and to create value, are bound to develop their intangible and knowledge assets. Different authors have defined the intellectual capital in many ways, (Andrikopoulos, 2010). It is the knowledge that can be converted into value (Edvinsson and Sullivan 1996). It is the set of intangible assets from which the competitive advantage, profit enhancement and value creation of the ventures can be driven (Bontis, 1998, 2001; Hormiga, Batista-Canino, & Sánchez-Medina, 2011; Sveiby, 1997).