PhD defence: Lavinia Bleoca

Modern intellectual capital studies do not successfully relate content analysis to market effects like profitability and abnormal returns, nor do they study the interrelation between intellectual capital types and generated effects in relation to disclosure practices. The practices of 18 Scandinavian (Danish, Swedish and Norwegian) and 11 U.S. publicly listed companies are herein evaluated on basis of a research model inspired by the Danish Guidelines of Intellectual Capital Reporting (MERITUM, 2002; Mouritsen et al., 2003), to define the capacity of knowledge management and innovation of creating financial value, directly and/or through the mediation of disclosure.

Against the common belief that more detailed reporting results in higher market value, this study identifies that the most successful leaders are: a) concerned with a more detailed and more complex internal management of knowledge than its representation in external disclosure and b) are rather reluctant to reveal details about their innovation and general practices. It was identified that the high earners of this study have the greatest conformity with the formulated intellectual capital research tool, and nevertheless the greatest abnormal returns in relation to competitors from the same industry. They were also the only ones who valued the management of intellectual capital and innovation over strategizing and reporting practices, which the other types of less successful mangers did not. These “Pessimistic High Earners” were the only group who managed all defined intellectual capital types (human, relational, process and technological). On the contrary, companies which were not as successful financially were found to disclose a higher amount of information, and in the most optimistic and futurising manner.
 
Primary supervisor:
Professor Jan Mouritsen
Department of Operations Management
Copenhagen Business School
 
Secondary supervisor:
Associate Professor Eric Bentzen
Department of Operations Management
Copenhagen Business School
 
Assessment Committee:
Professor MSO Allan Hansen (Chair)
Department of Operations Management
Copenhagen Business School

Professor Per Nikolaj Bukh
Department of Business and Management
Aalborg University

Professor Stefano Zambon
Faculty of Economics
University of Ferrara

Thesis:
The thesis is available here
 
Reception:
Doctoral School of Business and Management will host a reception, which will take place immediately after the defence in FUHU Faculty Club, 3rd floor above the canteen.