The concept of intellectual capital and its measurement using the VAIC method on the example of PKN ORLEN

Abstract

Purpose – The main purpose of the paper is to systematize the concept of intellectual capital of an enterprise, assess the effectiveness of the use of intellectual capital and analyze its impact on the added value. Research method – The paper uses the intellectual capital analysis method during the period 2009-2017 using the VAICTM intellectual added value factor and is based on data from financial statements. The basic statistical tool, which is the arithmetic mean was also used for the study. Results – The study showed that the intellectual capital of PKN Orlen is increasing as is the difference between the market and accounting values of the company. The main source of growth is human capital. Implications – The result of the study are conclusions in the form of practical recommendations for PKN Orlen in the area of intellectual capital development.