BIOECONOMY-BASED FOOD INDUSTRY OF SERBIA: THE ROLE OF INTELLECTUAL CAPITAL
DOI:
https://doi.org/10.5937/ekoPolj1901051DKeywords:
knowledge-based bioeconomy, intellectual capital, intellectual capital indicatorsAbstract
The aim of this exploratory study was to determine most useful indicators of intellectual capital in Serbian food industry. The study investigated managers perceptions of indicator usefulness and practical application. They were top and middle managers from 18 food organizations, committed to the bioeconomy. The survey items were divided into human, structural, and relational capital. A closed-ended questionnaire was used to collect data, later analysed by SPSS 21 statistical software. The results have demonstrated that all indicators were seen as very important, with relational capital being the most useful of all.
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References
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2. Bioeconomy Knowledge Centre (n.d.), available on https://biobs.jrc.ec.europa.eu, accessed March 20, 2018
3. Bischoff, S., Vladova, G., Jeschke, S. (2013) Measuring Intellectual Capital. In Automation, Communication and Cybernetics in Science and Engineering 2011/2012. Jeschke, S., Isenhardt, I., Hees, F., Henning, K. (Eds.) 2013, XXVI. ISBN 978-3-642-33389-7. Springer-Verlag Berlin Heiderberg.
4. Bolton, Charlynne, Veronika Machová, Maria Kovacova, and Katarina Valaskova (2018). The Power of Human–Machine Collaboration: Artificial Intelligence, Business Automation, and the Smart Economy, Economics, Management, and Financial Markets 13(4): 51–56.
5. Bose, S., Thomas, K. (2007) Valuation of intellectual capital in knowledgebased firms The need for new methods in a changing economic paradigm, Management Decision, Vol. 45 Iss 9 pp. 1484 – 1496, available from http://dx.doi.org/10.1108/00251740710828726, Emerald Insight
6. Bramhandkar, A., Erickson, S. and Applebee, I. (2007) Intellectual Capital and Organizational Performance: An Empirical Study of the Pharmaceutical Industry. Electronic Journal of Knowledge Management, 5, 357-362.
7. DAmato D, Droste N, Allen B, Kettunen M, Lähtinen K, Korhonen J, Leskinen P, Matthies BD, Toppinen A, (2017). Green, circular, bio economy: A comparative analysis of sustainability avenues. Journal of Cleaner Production, doi: 10.1016/j.jclepro.2017.09.053.
8. Djekic, I., Dimitrijevic, B. and Tomic, N. (2017) Quality Dimensions of Intellectual Capital in Serbian Fruit Industry. Engineering Management Journal, 29 (3), 154-164, DOI: 10.1080/10429247.2017.1339582. Available from http://dx.doi.org/10.1080/10429247.2017.1339582. Accessed March 22, 2018.
9. Djordjevic-Boljanovic, J. Dobrijevic, G., Cerovic, S., Alcakovic, S., Djokovic, F. (2018) Knowledge-Based Bioeconomy: the Use of Intellectual Capital in Food Industry of Serbia. Amfiteatru Economic 20 (49):717-731
10. Drăgoi, M.C., Andrei, J.V., Mieilă, M., Panait, M., Dobrotă, C.E. and Lădaru, R.G., (2018). Food Safety and Security in Romania – An Econometric Analysis in the Context of National Agricultural Paradigm Transformation. Amfiteatru Economic, 20(47), pp. 134-150.
11. Đorđević Boljanović J. (2009) Menadžment znanja (In Serbian). Data Status, Belgrade.
12. Edvinsson, L. & Malone, M. (1997). Intellectual Capital: Realizing Your Companys True Value by Finding Its Hidden Brainpower. Harper Business, New York.
13. European Commission (2012a) Bioeconomy Strategy and Action Plan "Innovating for Sustainable Growth: A Bioeconomy for Europe". Available from https://wbcrti.info/object/event/11271/attach/05_Bio_economy_for_Europe.pdf accessed September 4, 2018.
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15. European Commission (2015) Results of the JCR – SCAR Bioeconomy Survey, author: J.W.A. Langeveld, accessed at https://www.scar-swg-sbgb.eu/lw_resource/datapool/_items/item_24/survey_bioeconomy_report1501_full_text.pdf, downloaded on 30.1.2018.
16. European Commission (2017) Bioeconomy development in EU regions Mapping of EU Member States / regions Research and Innovation plans & Strategies for Smart Specialisation (RIS3) on Bioeconomy, Final Report – February 2017, written by Silke Haarich.
17. European Investment Bank (2017) Agriculture and bioeconomy: Unlocking production potential in a sustainable and resource-efficient way. Available at http://www.eib.org/infocentre/publications/all/agriculture-and-bioeconomy.htm. Accessed March 7, 2018
18. Feleagă, L., Feleagă, N., Dragomir, V. and Râbu, L. (2013) European evidence on intellectual capital: Linking methodologies with firm disclosures. Acta Oeconomica, 63 (2), 139-156
19. Fryxell, G., & Lo, C. W. H. (2003). The influence of environmental knowledge and values on managerial behaviors on behalf of the environment: An empirical examination of managers in China. Journal of Business Ethics, 46(1), 45-69.
20. Goods and Farmer Perspective, Bio-based and Applied Economics 1(1): pp. 47-63., ISSN 2280-6172 (online), Firenze University Press, prema DG Research (2006) FP7 Theme 2: food, agriculture, fisheries and biotechnology (FAFB)
21. International Federation of Accountants (IFAC), (1998). The Measurement and Management of Intellectual Capital: An Introduction. Study 7, IFAC, New York.
22. Kaplan, R., Norton, D. (2004) Strategy Maps: Converting Intangible Assets into Tangible Outcomes. Harvard: Harvard Business School Publishing Corporation.
23. Komnenic, B, Tomic, D. and Tomic, G. (2010) Measuring Efficiency of Intellectual Capital In Agriculture Sector of Vojvodina. APSTRACT (Applied Studies in Agribusiness and Commerce). 4(3-4), pp 25/31
24. Kontić, Lj. and Čabrilo, S. (2009) A Strategic Model for Measuring Intellectual Capital In Serbian Industrial Enterprises. Economic Annals 14(183), pp. 89-117
25. Kozera, M. (2011) Intellectual capital in agriculture – measurement and determinants. Acta Scientiarum Polonorum Oeconomia 10(3), pp. 83-95
26. LópezLópez, A. & Salazar - Elena,J. C. (2017) The Role of Intellectual Capital Management on Innovation Process: Does One Size Fit All? UAM – Accenture Working Papers ISSN: 2172-8143. Working Paper # 2017/29.
27. Miller, M., DuPont, B.D., Fera, V., Jeffrey, R., Mahon, B., Payer, B.M. and Starr, A.(1999) Measuring And Reporting Intellectual Capital From a Diverse Canadian Industry Perspective: Experiences, Issues and Prospects. OECD Symposium, Amsterdam June 9-11, 1999.
28. OECD (2009) The Bioeconomy to 2030, Designing a policy agenda, accessed at http://www.oecd.org/futures/long-termtechnologicalsocietalchallenges/thebioeconomyto2030designingapolicyagenda.htm, downloaded on 30.1.2018
29. OECD (2011) A new OECD project New sources of growth: intangible assets, available at https://www.oecd.org/sti/inno/46349020.pdf. Accessed February 27, 2018.
30. Pop, S.Z., Dracea, R. and Vlădulescu, C. (2018). Comparative Study of Certification Schemes for Food Safety Management Systems in the European Union Context. Amfiteatru Economic, 20(47), pp. 9-29.
31. Ronzon, T., Lusser, M., Klinkenberg, M. (ed.), Landa, L., Sanchez Lopez, J. (ed.), MBarek, R., Hadjamu, G. (ed.), Belward, A., (ed.), Camia, A., (ed.), Giuntoli, J., Cristobal, J., Parisi, C., Ferrari, E., Marelli, L., Torres de Matos, C., Gomez Barbero, M., Rodriguez Cerezo, E. (2017). Bioeconomy Report 2016. JRC Scientific and Policy Report. EUR 28468 EN
32. Schmid, O., Padel, S., Levidow, L. (2012). The Bio-Economy Concept and Knowledge Base in a Public Goods and Farmer Perspective. Bio-based and Applied Economics 1(1), pp. 47-63.
33. Sharabati, A., Naji Jawad, S., Bontis, N. (2010). Intellectual capital and business performance in the pharmaceutical sector of Jordan. Management decision, 48(1), pp. 105-131 DOI 10.1108/00251741011014481
34. Socaciu, C. (2014). Bioeconomy and green economy: European strategies, action plans and impact on life quality, Bulletin UASVM Food Science and Technology, 71(1), pp. 1-10.
35. Starovic, D. and Marr, B. (2006) Understanding corporate value: Managing and reporting intellectual capital. London: Chartered Institute of Management Accountants. Available from http://www.cimaglobal.com/Documents/ImportedDocuments/intellectualcapital.pdf, accessed February 27, 2018
36. Statistical Office of the Republic of Serbia, available from http://www.stat.gov.rs/WebSite/Default.aspx, accessed March 21, 2018.
37. Stewart, T.A. (1998). Intellectual Capital – the new Wealth of Organizations, Nicolas Brealey Publishing, London.
38. Still, K., Huhtamäki, J. & Russell, M. (2013). Relational Capital and Social Capital: One or two Fields of Research?. Proceedings of the 10th International Conference on Intellectual Capital, Knowledge Management and Organisational Learning, The George Washington University, Washington, DC, USA, 24-25 October 2013, pp. 420-428.
39. Sveiby, K.E. (1997). The New Organizational Wealth: Managing and Measuring Knowledge-Based Assets. Berrett-Koehler Publishers, Inc., San Francisco.
40. Sveiby, K-E. (2001) A knowledge-based theory of the firm to guide in strategy formulation. Journal of Intellectual Capital, 2(4), pp. 344-358
41. Sveiby, K-E. (2010) Methods for measuring intangible assets, January2001, updated 27 April 2010. Available at http://www.sveiby.com/files/pdf/intangiblemethods.pdf. Accessed February 27, 2018.
42. Szűcs, C., Vanó, G., Korsós-Schlesser, F. (2017) Agricultural and Food Production in Hungary: On the Road to Sustainability, Visegrad Journal on Bioeconomy and Sustainable Development, 6(2), pp. 59-63, ISSN (Online) 1339-3367, DOI: https://doi.org/10.1515/vjbsd-2017-0010
43. UNDP / UNEP (2012). Study on Achievements and Perspectives towards a Green Economy and Sustainable Growth in Serbia. Available on https://sustainabledevelopment.un.org/content/documents/984serbia.pdf, accessed March 2, 2018.
44. Urbanek G. (2016)"The links between the Intellectual Capital Efficiency Ratio (ICER) and the performance of Polish Listed companies from the food industry sector. The Electronic Journal of Knowledge Management, 14(4), pp. 220-230, available online at www.ejkm.com. Accessed February 28, 2018
45. Vishnu, S. And Gupta, K. (2014) Intellectual Capital and Performance of Pharmaceutical Firms in India. Journal of Intellectual Capital, 15, 83-99. https://doi.org/10.1108/JIC-04-2013-0049
46. Zeghal, D. andMaaloul, A. (2010) Analysing Value Added as an Indicator of Intellectual Capital and its Consequences on Company. Performance. Journal of Intellectual Capital, 11, pp. 39-60. https://doi.org/10.1108/14691931011013325
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Published
2019-03-25
How to Cite
Dobrijević, G., Đorđević Boljanović, J., Đoković, F., Pejanović, R., Škatarić, G., & Damnjanović, I. (2019). BIOECONOMY-BASED FOOD INDUSTRY OF SERBIA: THE ROLE OF INTELLECTUAL CAPITAL. Economics of Agriculture, 66(1), 51–62. https://doi.org/10.5937/ekoPolj1901051D
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