Efficiency of using the intellectual capital of listed companies in the transport and logistics industry

The aim of the research undertaken in the article is to evaluate the efficiency of intellectual capital utilization in publicly listed companies within the transport and logistics industry. To achieve this goal, a critical analysis of the literature and secondary data analysis were conducted, focusing on the data contained in the annual reports of the analysed companies. Descriptive statistics were also employed. Furthermore, the VAIC™ method, developed by Pulic, was applied. This method allowed for examining the efficiency of utilizing the companies' intellectual capital (human capital and structural capital) as well as its involvement in generating added value for the companies. The study covered transport and logistics companies listed on the main market of the Warsaw Stock Exchange (GPW) and the NewConnect market. The time range included the years 2016–2022. The research revealed that among the analysed companies, intellectual capital (ICE) demonstrated the highest efficiency in creating added value as measured by VAIC™. However, there were significant differences in this respect, with the intellectual capital efficiency index ranging from 1,050 to 13,807. Despite these differences, all studied companies share the characteristic that the efficiency of human capital represents the largest share of the index. This indicates that companies generate the highest return on every unit of investment in human capital. The article addresses a research gap in the area of assessing efficiency of the intellectual capital.

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