The goal of this article is to determine the influence of intellectual capital (IC) with its components on the profitability of pharmaceutical and biotechnological companies listed on the Warsaw Stock Exchange. The time range of the study covers the years 2015–2021. Various research methods were used: descriptive analysis, desk research analysis, the A-VAIC method, descriptive statistics and panel model estimation. Time lag was applied to variables in panel models in order to verify whether IC affects the future profitability of enterprises. The findings confirmed the influence of IC on the profitability of assets and profitability of equity. Moreover, they revealed a varied influence of individual components of IC on the indicated measures describing the profitability. The study confirms that IC plays an important role in strengthening the profitability of pharmaceutical and biotechnological companies. As a result, it enables companies to achieve and maintain a sustainable competitive advantage, and thus shapes their market share. The results of this study should provide additional knowledge concerning the significance of IC in the context of its influence on the profitability of enterprises and interest a wide spectrum of people: scientists, management staff, representatives of supervisory institutions and market practitioners – investors and analysts.

The goal of the research undertaken in the article is to evaluate the efficiency of the intellectual capital of banks listed on the Warsaw Stock Exchange. Various research methods have been applied in the article. In the theoretical layer, a critical analysis of the literature was conducted. In the empirical layer, the desk research method, the descriptive statistics method and the VAIC™ method was applied. The time range covered the period of 2014–2020. The study showed that the analyzed companies differ in terms of intellectual capital efficiency. Despite the difference in the level of intellectual capital efficiency, all banks exhibit a very similar model structure. Human capital efficiency makes up the greatest share of the VAIC™ coefficient. The study also showed that the value added intellectual coefficient (VAIC™) in the majority of the analyzed companies grows slightly or remains at a rather uniform level throughout the years 2014–2019. A substantial drop in VAIC™ value occurs in 2020, due to the effect of events on global financial markets caused by the COVID-19 pandemic. The article fills a research gap in the area of intellectual capital, concerning the study of its efficiency. This aspect remains insufficiently represented in research concerning banks, in which intellectual capital is becoming a critical success factor. The issues discussed in the article are of significant importance in the context of the structure of the Polish banking services market. The effective use of intellectual capital enables banks to achieve and maintain a sustainable competitive advantage, and thus shape their market share. Furthermore, this paper is a starting point for further research with the subject of evaluating the influence of intellectual capital efficiency on the financial and market results of banks listed on the Warsaw Stock Exchange.