Intangible-intensive profile of a company: the key to outperforming Angel Barajas Elena Shakina

Research question Do companies have certain intangible- intensive profile? If they do, how this profile influence the outperforming and investment attentiveness?

Hypothesis By following the strategy in a certain intangible-intensive profile company is likely to outperform

Steps of the research Identification of the coordinates in intangible intensity (paper by Molodchik, Shakina, Barajas, 2014) 6 components of intangibles Identification of the profiles in the coordinates of intangibles 3-5 profiles Estimation of the relation between the company profile and its outperforming For the whole distribution of the companies For those companies that create value

Econometric strategy PCA for each of the element of IC (intangibles): Human Capital (HC), Relational Capital (RC), Structural Capital (SC) 2 PCA in HC: management capability (MC), human resource capability (HRC) 2PCA in RC: customer loyalty (CL), networking capability (NWC) 2 PCA in SC: business process capability (BPC), innovative capability (InnC) K-mean clustering 3 clusters with almost equal number of cases ( ) ANOVA Estimate the difference between clusters according to each criterion Regression EVA=f(MC, HRC, CL, NWC, BPC, InnC, MC*CP, HRC*CP, CL*CP, NWC*CP, BPC*CP, MC*IP, HRC*IP, CL*IP, NWC*IP, BPC*IP, CP, IP, ind, year) MVA=g(MC, HRC, CL, NWC, BPC, InnC, MC*CP, HRC*CP, CL*CP, NWC*CP, BPC*CP, MC*IP, HRC*IP, CL*IP, NWC*IP, BPC*IP, CP, IP, ind, year)