Page 71 - Anales RADE vol I n 1
P. 71
1. INTRODUCTION
The importance of knowledge and information for businesses has been
widely documented whether it is defined as “know-how”, intangible assets or
intellectual capital. More recently, the key role that these factors play in
maintaining competitive advantage has become increasingly clear particularly in
those industries deemed to be “information or knowledge intensive”.
During the 1990´s, there was a proliferation of research and analysis
regarding the identification, measurement, valuation and propagation of
intellectual capital within corporate organizations. Many of these analyses gave
rise to specific guidelines for identifying, measuring and documenting the
knowledge and information available to firms.
This paper assumes that the indicators and variables used to measure
intellectual capital within a company may vary across sectors making it necessary
to define what intellectual capital means for each individual industry. Using
existing frameworks, this study seeks to define a set of sector-appropriate
variables and indicators for measuring intellectual capital within the firm, which
will allow future comparisons across companies within the same industry as well
as an evaluation of publicly-available reported by these companies.
The electrical utilities sector, which is the focus of this study, has
historically been characterized by oligopoly and a high degree of government
regulation. However, with the ratification of European Directive 96/92/CE which
seeks to introduce competition in the power industry and the formation of a single
European market for electricity, Spanish utilities have experimented and
introduced several changes which have increased the relevance and value of their
intellectual capital.
To this end, this study seeks to accomplish two objectives. The first is the
application of a framework of analysis for identifying and measuring intellectual
capital within a specific industry. The second is a general overview of the power
industry in Spain. The results contained herein are the product of four case studies
conducted between June 2003 and December 2004 involving specific companies
within this industry.
2. MEASURING INTELLECTUAL CAPITAL: THEORETICAL
FRAMEWORK
2.1. The theoretical basis of intellectual capital within the firm
The conceptual basis of intellectual capital within firms is contained largely
within the scope of the Theory of Resources and Capabilities (Resource Based
View). This is the approach reflected in the most recent papers that seek to review
the evaluation, identification, measurement and management of intellectual capital
including those written by Cañibano and Sánchez (2004), Andriessen (2004), and
Kaufmann and Schneider (2004).
71| A case study on spanish electrical utilities
The importance of knowledge and information for businesses has been
widely documented whether it is defined as “know-how”, intangible assets or
intellectual capital. More recently, the key role that these factors play in
maintaining competitive advantage has become increasingly clear particularly in
those industries deemed to be “information or knowledge intensive”.
During the 1990´s, there was a proliferation of research and analysis
regarding the identification, measurement, valuation and propagation of
intellectual capital within corporate organizations. Many of these analyses gave
rise to specific guidelines for identifying, measuring and documenting the
knowledge and information available to firms.
This paper assumes that the indicators and variables used to measure
intellectual capital within a company may vary across sectors making it necessary
to define what intellectual capital means for each individual industry. Using
existing frameworks, this study seeks to define a set of sector-appropriate
variables and indicators for measuring intellectual capital within the firm, which
will allow future comparisons across companies within the same industry as well
as an evaluation of publicly-available reported by these companies.
The electrical utilities sector, which is the focus of this study, has
historically been characterized by oligopoly and a high degree of government
regulation. However, with the ratification of European Directive 96/92/CE which
seeks to introduce competition in the power industry and the formation of a single
European market for electricity, Spanish utilities have experimented and
introduced several changes which have increased the relevance and value of their
intellectual capital.
To this end, this study seeks to accomplish two objectives. The first is the
application of a framework of analysis for identifying and measuring intellectual
capital within a specific industry. The second is a general overview of the power
industry in Spain. The results contained herein are the product of four case studies
conducted between June 2003 and December 2004 involving specific companies
within this industry.
2. MEASURING INTELLECTUAL CAPITAL: THEORETICAL
FRAMEWORK
2.1. The theoretical basis of intellectual capital within the firm
The conceptual basis of intellectual capital within firms is contained largely
within the scope of the Theory of Resources and Capabilities (Resource Based
View). This is the approach reflected in the most recent papers that seek to review
the evaluation, identification, measurement and management of intellectual capital
including those written by Cañibano and Sánchez (2004), Andriessen (2004), and
Kaufmann and Schneider (2004).
71| A case study on spanish electrical utilities
