RELATIONSHIP BETWEEN THE COMPANY’S PROFESSIONAL SUCCESS AND ITS INTELLECTUAL CAPITAL EFFICIENCY MANAGMENT (by VAIC method)

Abstract

At the current stage of economic relations development, intellectual capital becomes one of the main competitive advantages of the company. This necessitates the operative and rational management of its components in order to achieve the company’s economic and financial prosperity in conditions of a highly competitive environment and limited financing opportunities. At the same time, professional success is one of the objective non-financial displays of the company's intellectual capital effective management. The authors have proved that a quantitative measurement of companies’ professional achievements provides the ability to verify the assessing results of efficiency management of their intellectual capital. The study deals with the analysis of the adequacy of the results of Value Added Intellectual Coefficient (VAIC method) for assessing the intellectual capital efficiency, based on the indicators of companies’ public financial statements and the level of their professional success, determined on the basis of professional rating data. The authors have selected the UEFA Club Ranking as the most suitable instrument of professional performance measurement for football clubs’ comparative IC efficiency assessment. The paper contains empirical analysis results of the advantages and disadvantages of VAIC method to assess the companies’ intellectual capital management efficiency on the example of the TOP 50 UEFA Club Ranking for 2014-2018 and the football clubs’ annual reports. The authors have proved that VAIC method provides the results that are in some measure consistent with the rating of the football clubs’ professional achievements.