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International Research on Intellectual Capital: Theoretical Trace,Research Theme and As Economy Switches off, Future Outlook |
Jiang Chun1,Li Shihan2,Cheng Long3 |
(1.School of International Relations & Public Affairs, Fudan University; 2. School of Economics, Fudan University, Shanghai 200433, China;3. Science and Technology Talents Center, Ministry of Science and Technology, Beijing 100862, China) |
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Abstract Turning intellectual capital (IC) into the main engine of high-quality development of modern economy (organization) is a complex management process which involves the knowledge exchange and creation between multiple players, even the relationships of these players in the business environment. This study aims to provide a currently complete and systematic IC review to stimulate and contribute to furthering this academic field and correspondingly set out an agenda for future research. To realize this purpose, the study investigates a complete data set (1985~2020) of 2,356 research articles spanning over three decades, by utilizing bibliometric analysis to disclose the theoretical pillars, the main research areas, and future research directions. #br#The paper has the following findings. First, in terms of publication time, the expression “intellectual capital” in the sample literature first appeared in 1985. Since 2011, the annual increment of IC-related research has exceeded 100 articles. Then, it has basically remained above 100, reaching a peak of 290 in 2020. Half of the literature in the study comes from the past 5 years (64.01%), revealing that scholars' attention to the field of IC has increased sharply in recent years. Also, scholars from the USA, Italy and Spain lead the field of IC, and Macquarie University is at the heart of collaboration network. China's international research is in the catch-up stage. #br#Second, among the top 20 journals from which literature is published,Journal of Intelligent Capital (183 articles) lies in the predominant position, followed by Knowledge Management Research and Practice (70 articles), Journal of Knowledge Management (54), and Sustainability (51) published more than 50 related articles. However, in analysis of the sources of the most cited journals, it is found that the composition and ranking of the top 20 journals are very different compared with thejournals with the highest publication volume. In fact, although Journal of Intelligent Capital is still the main source, the most cited IC-related articles are mainly from Strategic Management Journal, Academy of Management Review, Academy of Management Journal, Organization Science, and Research Policy. This phenomenon reflects a slight mismatch between the published journals and cited journals.#br#Third, results of the co-citation clustering analysis disclose four main theoretical pillars of the IC literature that can be considered as scientific roots to IC. The theoretical pillars of IC have four clusters of themes: IC as a strategic resource for enterprises; IC accounting and reporting; classification and measures of IC; conceptualize on IC. #br#Fourth, results of the bibliographic coupling analysis identify five main research areas covered in the current IC research, which is the reflection of research theme trends and emerging trajectories. The primary research line of IC focuses on five theme clusters: the interplay between intellectual capital and firms financing; the impact of human capital on organization value creation; the management of organization's IC; the impact of IC on firm performance; IC disclosure in corporate governance. #br#Besides, this study spots that scholars' attention to the research on IC is changing. Scholars have paid continuous attention to the strategic view of IC, IC accounting, and IC reporting. In recent years, the classification and measurement of IC have become new topics of scholars' attention. Similarly, the mainline of IC research has been developing. Initially, research on intellectual capital mainly focused on corporate financing, organizational value creation, and knowledge management. In recent years, research on intellectual capital has been gradually shifted to research on corporate performance and human capital. Keyword burst detection analysis shows that new research trends in IC change suddenly with time. This new trend presents three stages:the first stage focuses on “knowledge”, the second stage on “intangible”assets, and the third stage on “financial performance”. #br#Lastly, future research should encourage mutual penetration of interdisciplinary research, and consider the explanation of IC theory to new phenomena in practice. Besides, future attention should be devoted to the impact of environmental uncertainty (such as major public emergencies) on the organization's IC. #br#This is the first-ever systematic review to concentrate on IC, representing the contributions of IC studies. The research agenda that this study discusses systematically discovers the roots and main lines of IC research,and itis expected to provide important references for future research on the exploration of the development of IC prospect.#br#
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Received: 09 September 2022
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