35
2, XXIV, 2021
Business Adminis a ion and Managemen
10.15240/ ul/001/2021-2-003
PERCEPTION OF INTELLECTUAL
CAPITAL AND ITS IMPACT ON BUSINESS
SUSTAINABILITY: EVIDENCE FROM SMALL,
MEDIUM, AND LARGE ENTERPRISES
Elwi a G oss-Gołacka1, Ma a Kus e ka-Je mańska2,
Paulina Spałek3, Ba łomiej Je mański4
1 Uni e si y o Wa saw, Facul y o Managemen , Depa men o O ganiza ion Theo y and Me hods, Poland, ORCID:
0000-0003-4863-9391, [email p o ec ed].edu.pl;
2 W ocław Uni e si y o Economics and Business, Facul y o Managemen , Depa men o Quali y and En i onmen al
Managemen , Poland, ORCID: 0000-0002-6773-6157, [email p o ec ed];
3 Wa saw School o Economics, Poland, ORCID: 0000-0002-0355-1217, [email p o ec ed].pl;
4 W ocław Uni e si y o Economics and Business, Facul y o Economics and Finance, Depa men o Econome ics
and Compu e Science, Poland, ORCID: 0000-0002-0335-0036, [email p o ec ed].
Abs ac : The main goal o his a icle is o analyze he le el o di e en ia ion o awa eness and
knowledge among manage s o small, medium and la ge en e p ises in he scope o he essence
and meaning o in ellec ual capi al as well as he in luence o i s elemen s on he sus ainable
de elopmen o en e p ises in Poland. In ellec ual capi al is pe cei ed as a key esou ce o
an en e p ise. I is also one o he mos aluable esou ces o an en e p ise, which enables i s
sus ainable de elopmen . I is c i ical base o o ganiza ion’s inno a i e and s a egic sus ainabili y.
This a icle is based a ound he esul s o a su ey conduc ed in 2019 among 1,067 en e p ises
ope a ing in Poland. Fo he pu poses o he e i ica ion o he s a is ical hypo hesis, he classical
chi-squa ed es o independence has been applied along wi h he analysis o a ia ions o uzzy
numbe s (FANOVA) wi h an assumed le el o signi icance α = 0.05. The assessmen o he
in luence o he elemen s o in ellec ual capi al on he sus ainable de elopmen o en e p ises has
been conduc ed wi h he applica ion o uzzy con e sion scales. In uzzy con e sion scales, poin s
a e mos o en exp essed as iangula o apezoidal uzzy numbe s. The conduc ed esea ch
indica es a di e ence be ween heo y and p ac ice in he ield o in ellec ual capi al managemen
among en e p ises in Poland. On he one hand manage s decla e awa eness o he impo ance
o he in luence o in ellec ual capi al on he de elopmen o en e p ises in Poland, whe eas on
he o he hand, a signi ican majo i y o hem s a e ha hey ha e no implemen ed an in ellec ual
capi al managemen s a egy a hei en e p ises and nei he iden i y no measu e his capi al o i s
elemen s.
Keywo ds: In ellec ual capi al o en e p ises, business sus ainabili y, uzzy measu emen s, uzzy
con e sion scales, FANOVA.
JEL Classi ica ion: C12, C38, C81, C83, D81, J24, O34.
APA S yle Ci a ion: G oss-Gołacka, E., Kus e ka-Je mańska, M., Spałek, P., & Je mański, B.
(2021). Pe cep ion o In ellec ual Capi al and I s Impac on Business Sus ainabili y: E idence
om Small, Medium, and La ge En e p ises. E&M Economics and Managemen , 24(2), 35–50.
h ps://doi.o g/10.15240/ ul/001/2021-2-003
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36 2021, XXIV, 2
Business Adminis a ion and Managemen
In oduc ion
In he mode n wo ld, one o he key ac o s o
success o an o ganiza ion is in ellec ual capi al.
A dynamically changing ex e nal en i onmen
exe s p essu e on en e p ises o implemen
inno a i e solu ions, p oduc s and se ices.
The alue c ea ed o a lesse deg ee depends
on he possessed angible asse s, compa ed o
he alue o in angible ones. In ellec ual capi al
esou ces a e es ablished as he basis o he
le el o compe i i eness o an o ganiza ion in
he 21s cen u y by among o he s Boun ou
and Ed insson (2005), Cab i a and Vaz (2006).
Cu en ly, compe i i e ad an age is de e mined
by unique ecou ses, which a e di icul o
ep oduce by he compe i ion. In ellec ual capi al
is hus mo e and mo e o en pe cei ed as a key
esou ce o an en e p ise. I is also one o he
mos aluable esou ces o an en e p ise, which
enables i s sus ainable de elopmen . I is c i ical
base o o ganiza ion’s inno a i e and s a egic
sus ainabili y (Bon is, 2002; Bon is e al., 2000).
I is comp ised o human capi al, s uc u al
capi al and ela ional capi al. Sus ainable
de elopmen o en e p ises, also known as
business sus ainabili y, can be unde s ood as
a p ac ical implemen a ion o goals and ules
o he concep o sus ainable de elopmen on
a mic oeconomic le el. I equi es managemen
and coo dina ion o all aspec s o en e p ise
ac i i y: social, en i onmen al, and inancial o
ensu e esponsible, e hical, en i onmen ally
iendly, and p o i able in long- e m success.
Business sus ainabili y is a s a egy ha
in eg a es social, economic, and en i onmen al
p inciples in o he business model.
The main goal o he a icle is o analyze
he le el o di e en ia ion o awa eness and
knowledge o manage s o small, medium
and la ge en e p ises wi hin he scope o he
essence and meaning o in ellec ual capi al and
he in luence o i s elemen s on he sus ainable
de elopmen o en e p ises in Poland.
In he pape , a sys ema ic li e a u e e iew
o selec ed a icles was made. In he ield o
empi ical s udies, su ey esea ch was held.
In he ield o da a analysis, s a is ical me hods
we e used.
The s uc u e o he a icle co e s h ee
sec ions. Sec ion 1: Theo e ical Backg ound
explains essen ial om his s udy’s scope
de ini ions – in ellec ual capi al and business
sus ainabili y. I also p esen s he key indings
o he li e a u e e iew. Sec ion 2: Resea ch
Me hodology desc ibes he s a is ical me hod
applied. Sec ion 3: Resul s co e s a b ie
p esen a ion o some gene al s a is ics and
esul s. Conclusions summa ize he esea ch
esul s.
1. Theo e ical Backg ound
Acco ding o Roos and Roos (1997),
in ellec ual capi al is de ined as a collec ion
o in angible asse s ( esou ces, capabili ies
and compe i i eness), which in luence he
e ec i eness o an o ganiza ion and alue
c ea ion. The li e a u e discusses di e en
classi ica ions o in ellec ual capi al. Examples
a e wo ks published by Ed insson and Malone
(1997) o S ewa (2001). O en e e ed o is
he di ision o in ellec ual capi al in o h ee
subse s: human capi al, s uc u al capi al and
ela ional capi al. Be ween hese elemen s
he e is a s ong ela ionship, cha ac e ized
by a eedback loop. F om he pe spec i e
o manage s, in o de o c ea e alue, i is
essen ial o connec hese h ee elemen s
oge he . In his con ex , in ellec ual capi al is
a phenomenon o in e ac ion, ans o ma ion
and complemen a ion. As such, he
e ec i eness o one esou ce can imp o e
based on in es ing in o he s. Thus, he alue
o he en e p ise c ea ed based on in ellec ual
capi al is an e ec o he ac i i y o each o i s
sub-elemen s. Hence, i is essen ial o p ope ly
manage in ellec ual capi al a en e p ises, in
a way which akes in o accoun i s iden i ica ion,
measu emen , de elopmen and p o ec ion.
The concep o sus ainabili y has been
associa ed wi h Wes Jackson’s wo k on ag icul u-
e (Jackson, 1980) and ini ially o mula ed in he
B und land Repo , WCED (1987). Ba bie i e
al. (2010) obse e ha business sus ainabili y
can be unde s ood in he con en ional manne ,
i.e. as he capaci y o c ea e esou ces o
emune a e he ac o s o p oduc ion, eplace
asse s ha ha e been used, and in es o
con inue compe ing. Munck e al. (2016) obse e
ha in he business scena io, coun less concep s
ha e been p oposed o enable discussion o
managemen p ocesses o o ganiza ional
sus ainabili y. F om his pe spec i e, bo h
academics and business consul an s see
a need o be e unde s and which p ac ices a e
necessa y o he managemen models o mee
and encompass he p emises o he concep
o sus ainabili y. F om a business poin o iew,
sus ainabili y conno es h ee dimensions:
EM_2_2021.indd 36 31.5.2021 10:33:19
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Business Adminis a ion and Managemen
economic, social and en i onmen al (She h e al.,
2011). The economic dimension o sus ainabili y
e e s o companies’ abili y o c ea e alue and
imp o e inancial pe o mance. Social dimension
o sus ainabili y desc ibes he conside a ion o
socie al issues like ole ance owa d o he s o
equal igh s and ocuses on he well-being o
people and communi ies as a noneconomic o m
o weal h (Choi & Ng, 2011). The las dimension
o sus ainabili y, namely, en i onmen al e e s o
he main enance o na u al capi al (Goodland,
1995).
Also, he e is e idences ha socioeconomic
de elopmen , wi h en i onmen al equilib ium
and he in eg a ion o in ellec ual capi al, leads
o he g adual de elopmen o a a o able
o ganiza ional ecosys em. Knowledge based
and in angible issues ha e isen o he o e on
o in e es o hose a emp ing o unde s and
and imp o e o ganiza ional capabili ies o
sus ainable i m pe o mance and alue
c ea ion (e.g. D ucke , 1988; G an , 1996).
Me ins and O h (2012) conside in angible
esou ces o be o cen al impo ance o
sus ainable de elopmen o i ms. In o de o
implemen managemen o sus ainabili y, hese
au ho s conside ha i is c ucial o i ms o use
knowledge e icien ly, he eby imp o ing hei
po en ial o inno a ion.
Theo e ical aspec s and applica ion ones
ela ed o in ellec ual capi al ha e appea ed
in academic discou se ela i ely ecen ly, bu
none heless, bo h in Polish and in e na ional
li e a u e, publica ions discussing his ield can
be ound. In ames o he empi ical scope,
only in he las i e yea s, se e al publica ions
ha e eme ged, which p esen esul s o s udies
on in ellec ual capi al. One o hem is he
publica ion by A shad and A shad (2018), which
ocuses on he in luence o in ellec ual capi al
on he pe o mance o small and medium ex ile
en e p ises loca ed in Pakis an. The au ho s by
means o hei esea ch, based on a g oup o
350 en e p ises, ha e p o en ha in ellec ual
capi al signi ican ly impac s he pe o mance o
ex ile en e p ises. The in luence o in ellec ual
capi al on he pe o mance on small and medium
en e p ises is also discussed in he a icle by
Abdullah and O hman (2019). The au ho s o
he pape , based on he esul s o esea ch
conduc ed in Malaysian ood and be e age
SMEs, ha e p o en ha good managemen o
employees’ knowledge adds alue o he i ms
and makes hem compe i i e in he ma ke
economy. The esea ch esul s ha e also
made i possible o iden i y mode a e posi i e
co ela ions be ween compensa ion and ewa d
on one hand and o ganiza ional pe o mance
on he o he . Resea ch in o in ellec ual capi al
has also been conduc ed by Aymen e al.
(2019), who ha e indica ed a ela ion be ween
he in eg a ion o in ellec ual capi al and he
success o small and medium en e p ises in
I an. Based on he opinion o 217 employees o
small and medium en e p ises, he au ho s ha e
de eloped a model o success o an en e p ise
and ha e la e p o en ha he success o
small and medium en e p ises is dependen
on he in eg a ion o in ellec ual capi al and
he o a ion o young inance depa men
pe sonnel. The analysis o he ela ion be ween
in ellec ual capi al and p oduc i i y o small and
medium en e p ises has been discussed in
he publica ion by Todingbua e al. (2018). The
analysis u ilizes he esul s o a su ey among
owne s o small and medium en e p ises in
Makassa . The esul s o he s udy ha e p o en
ha manage ial skills ha e a signi ican impac
on he p oduc i i y o SMEs in Makassa .
Fu he mo e – as pa o he empi ical scope –
esea ch is also conduc ed in o he ela ionship
be ween in ellec ual capi al and inno a i eness
o en e p ises. An example o his ype o
a publica ion is he a icle by Khan e al. (2018),
in which he au ho s analyze he in luence o
in ellec ual capi al on he p oduc , p ocess and
adminis a ion inno a ion in he SMEs. The
esea ch was conduc ed among 318 small and
medium en e p ises ope a ing in Aus alia and
ep esen ing di e en b anches o he economy.
Resea ch in o in ellec ual capi al has also been
conduc ed by Asean y (2016). Th ough his
esea ch has been es ima ed he ela ionship
be ween in ellec ual capi al (which is p oxies
h ough he dimension o human capi al,
namely skill, inno a i eness, compe ency, and
knowledge) o he sus ainabili y o SMEs in
Cen al Ja a, Indonesia. Mul iple eg ession
analysis indica ed ha skill is he mos
impo an an eceden o o e all sus ainabili y
o SMEs in Cen al Ja a. The esul s e ealed
s ong, posi i e and signi ican ela ionship
be ween all he independen a iables o he
sus ainabili y o SMEs in Cen al Ja a, implying
ha highly human capi al leads o highe o e all
sus ainabili y in SMEs in Cen al Ja a.
As s a ed ea lie , in ellec ual capi al is
essen ial o sus ainabili y business. Based on
EM_2_2021.indd 37 31.5.2021 10:33:19
38 2021, XXIV, 2
Business Adminis a ion and Managemen
he li e a u e e iew i canno be unequi ocally
s a ed, which o i s elemen s ha e he g ea es
impac on business sus ainabili y. As such,
based on he discussed esea ch, i can be
s a ed ha he e a e di e se (Tab. 1).
On he o he hand, ew esea che s (Fi e
& Williams, 2003; Shiu, 2006; Pew Tan e
al., 2007; Madi inos e al., 2011; Meh alian
e al., 2012; Dženopoljac e al., 2016) ound
a nega i e ela ionship o no ela ionship
be ween IC and i m’s pe o mance (Mukhe jee
& Sanka Sen, 2019).
2. Resea ch Me hodology
The main goal o he conduc ed esea ch has
been he analysis o he dependency be ween
he size o an en e p ise in Poland measu ed
by he numbe o employees and he ollowing
aspec s ela ed o managing in ellec ual capi al:
 knowledge abou he concep o in ellec ual
capi al;
 possessing an in ellec ual capi al
managemen s a egy;
 measu ing in ellec ual capi al and/o i s
elemen s;
 he in luence o elemen s o in ellec ual
capi al on sus ainable de elopmen o
en e p ises in Poland.
The analysis u ilizes he esul s om a s udy
on managing in ellec ual capi al by en e p ises
in Poland. The esea ch was conduc ed in May
2019. The esea ch was ealized h ough he
CATI and CAWI me hods in a ep esen a i e
g oup o 1,067 en e p ises ope a ing in Poland
(employing a leas 10 employees) wi h an
assumed le el o us o 0.95 and an es ima ion
e o o 3%. I was based on a p opo ional
selec ion o en e p ises based on oi odeships
and hei size measu ed by he numbe o
employees. The assumed s uc u e o he es
g oup also ook in o accoun he di e en ia ion
o en e p ises based on hei ype o ac i i y
( he numbe o in e iews conduc ed was
The key indings o he li e a u e e iew Au ho s
In ellec ual capi al is a ounda ion o
sus ainable g ow h and compe i i e
ad an age.
In ellec ual capi al (o e all) has signi ican and
posi i e impac on business sus ainabili y.
Chen e al., 2006; Chen, 2008; Akh a e al., 2015;
Oma e al., 2017; Xu & Wang, 2018; Massa o
e al., 2018; Suciu & Năsulea, 2019; Mukhe jee &
Sen, 2019; Dal Mas, 2019
S uc u al capi al has a signi ican ly posi i e
impac on business sus ainabili y.
Wasiluk, 2013; Yuso e al., 2019
Human capi al has a signi ican ly posi i e
impac on business sus ainabili y.
Hay on, 2005; Cla e -Co és e al., 2015
Rela ional capi al has a signi ican ly posi i e
impac on business sus ainabili y.
Xu & Wang, 2018; Yuso e al., 2019
Economic, social and en i onmen al domains
o sus ainabili y ha e a posi i e di ec e ec
on co po a e epu a ion which is one o he
key componen s o ela ional capi al.
Ma inez Ga cía de Leaniz & Rod íguez del
Bosque, 2013; Cowan & Guzman, 2020
Fi ms ha ing highe in ellec ual capi al
e iciency pe o m be e .
In ellec ual capi al and company pe o mance
a e posi i ely ela ed. The mo e in angible-
in ensi e companies p esen a be e inancial
long- e m pe o mance–p o i abili y and e u n,
inancial sus ainabili y) – han he o he s.
Chen e al., 2005; Pew Tan e al., 2007; Rehman
e al., 2012; Sumed ea, 2013; Aji & Ku niasih,
2015; A i in, 2016; Mondal, 2016; Jo dão &
Almeidy, 2017; Nassa , 2018
The impac o he elemen s o in ellec ual
capi al on business sus ainabili y a ies,
depending on hei size.
Chen, 2008; Akh a e al., 2015
Sou ce: own
Tab. 1: The key indings o he li e a u e e iew
EM_2_2021.indd 38 31.5.2021 10:33:19
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2, XXIV, 2021
Business Adminis a ion and Managemen
p opo ional o he pa icipa ion o en e p ises
in di e en PKD sec ions [Polish Classi ica ion
o Ac i i ies]). The s uc u e o he esea ch
sample was c ea ed based on da a om Cen al
S a is ical O ice da ed Janua y 2019. The
in e iews we e conduc ed wi h ep esen a i es
o he managemen le el o he en e p ises in
ques ion.
Fo he pu pose o he analysis o he
co ela ion be ween he size o an en e p ise and
i s knowledge o in ellec ual capi al, measu ing
in ellec ual capi al, as well as possessing an
in ellec ual capi al managemen s a egy, he
classical chi-squa ed es o independence was
u ilized, wi h an assumed le el o signi icance
α = 0.05.
In he measu emen o he impo ance o
each elemen o in ellec ual capi al wi h ega ds
o he sus ainable de elopmen o en e p ises,
a ou -le el scale was used, wi h each le el
being espec i ely desc ibed by “de ini ely
insigni ican ”, “insigni ican ”, “signi ican ”,
“ e y signi ican ”. In he cons uc ion o he
measu emen ool, i has also been p o ided
ha esponden s could answe “di icul o say”,
i hey we e unable o de ini ely de e mine he
in luence o elemen s o in ellec ual capi al
on he de elopmen o hei en e p ises. The
measu emen scale applied in he su ey is
a ype o a Like scale, which a e mos o en
u ilized in ga he ing opinions and a i udes
o esponden s. These scales, while being
a ac i e and easy- o- ollow o esponden s,
also ha e hei limi a ions. Acco ding o
S e en’s heo y, he analysis o he esul s
o he measu emen u ilizing o dinal scales
only allows o a ela ionship be ween he
majo i y and mino i y as well as he coun ing
o ins ances. This means he ob ained
esul s canno be di ec ly used o analyze he
dependency be ween obse ing he in luence
o he elemen s o in ellec ual capi al on he
sus ainable de elopmen o en e p ises and
hei size. I is also mo e di icul o de e mine
which elemen s o in ellec ual capi al ha e, in
he opinion o esponden s, he la ges in luence
on he de elopmen o en e p ises. This esul s
om he ac ha in he case o o dinal scales i
is no possible o a e age he esul s, especially
in he case o a small numbe o le els
cons i u ing he scale. In o de o o e come
hese limi a ion i had been decided ha o he
pu pose o s a is ical analysis and e i ica ion
o esea ch hypo heses, a ans o ma ion will
be applied o he measu emen scale o he
o m o uzzy se s, esul ing in uzzy con e sion
scales. Such a s ep made i possible o a e age
he esul s in acco dance wi h a i hme ical
ope a ions, which a e allowed in he case o
uzzy numbe s p esen ed o ins ance in he
ollowing publica ions: Kli and Yuan (1995),
and Chen and Pham (2001). In he a icle i has
been p oposed o u ilize he uzzy con e sion
scale p oposed by Lubiano e al. (2016).
A e aging he impo ance assessmen
esul s allowed o he cons uc ion o he anking
o he in luence o he elemen s o in ellec ual
capi al on he sus ainable de elopmen o
en e p ises in Poland, as pe cei ed by he
esponden s, i.e. o he manage s pa aking in
he su ey. I should be no ed ha in acco dance
wi h he me hodology o a i hme ic ope a ions
on iangula uzzy numbe s, he esul – which
was an a i hme ical mean – also had he
o m o a iangula uzzy numbe . The di ec
compa ison o he wo a e ages exp essed in
such a o m is no possible, he e o e in such
a case i is necessa y o apply he so-called
de uzzi ica ion o uzzy numbe s. The esul
o his de uzzi ica ion is a eal numbe , which,
among o he hings, allows o a ange he mean
alues o he signi icance assessmen in o de
om highes o lowes . In he a icle he wo
mos commonly u ilized me hods ha e been
applied, which a e ela ed o he de uzzi ica ion
o iangula uzzy numbe s, namely: he cen e
o g a i y (CoG) and he median. The applica ion
o wo me hods was aimed a elimina ing he
elemen o bias in he selec ion o he me hod
o de uzzi ica ion and de e mining he alidi y
o he ob ained o de o mean alues. In he
case o obse ed disc epancies in he ob ained
ankings, hei conco dance coe icien was
es ima ed using Kendall’s au ank.
The ans o ma ion o esul s in o he o m
o uzzy numbe s, which has been p oposed in
his pape , has also made i possible o analyze
he a iance o iangula uzzy numbe s
(FANOVA), which allowed o in es iga ing he
signi icance o he di e ences be ween he
a e age assessmen s o he impo ance o he
in luence o elemen s o in ellec ual capi al on
he sus ainable de elopmen o en e p ises
in Poland, di e en ia ed based on hei size.
The FANOVA me hod e i ies he hypo hesis
(Pa chami e al., 2017):
H0 : μ 1 = μ 2 = … = μ  , (1)
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40 2021, XXIV, 2
Business Adminis a ion and Managemen
H1 : no all μ i's (i = 1, … , ) a e equal. (2)
whe e μ  i is he a e age alue o he cha ac e is ic
exp essed in he o m o a iangula uzzy
numbe o he i- h g oup.
Fo calcula ions, his a icle u ilizes
he ANOVA. TFNs package, de eloped by
Pa chami (2018). Fo he pu pose o e i ica ion
o he hypo hesis desc ibed in his pape , a le el
o signi icance o α = 0.05 has been assumed.
3. Resul s
3.1 Knowledge o he Concep
o In ellec ual Capi al in En e p ises
in Poland
The esul s o he s udy indica e ha he
concep o in ellec ual capi al is known o nea ly
70% o he su eyed en e p ise manage s in
Poland. Rep esen a i es o la ge en e p ises
employing be ween 250 and 999 employees
(82% o esponses) p o ed o be pa icula ly
amilia wi h his issue. In he case o small
and medium-sized en e p ises, 67% and
68% o esponden s answe ed posi i ely o
he ques ion asked. In o de o assess he
ela ionship be ween he size o he en e p ise
and knowledge o he concep o in ellec ual
capi al, he ollowing esea ch hypo heses we e
o mula ed:
H0: The size o he en e p ise measu ed
by he numbe o employees does no ha e
an impac on he knowledge o he concep o
in ellec ual capi al.
H1: The size o he en e p ise measu ed by
he numbe o employees has an impac on he
knowledge o he concep o in ellec ual capi al.
In o de o e i y he null hypo hesis, he
chi-squa ed es o independence was used.
The alue o es s a is ic was equal o x2 = 2.19
a a c i ical le el o signi icance p- alue = 0.335.
The ob ained esul shows ha he e a e no
g ounds o ejec he null hypo hesis, which
means ha he size o he en e p ise does no
signi ican ly a ec he knowledge o he concep
o in ellec ual capi al by en e p ise manage s in
Poland.
3.2 The P esence o In ellec ual
Capi al Managemen S a egies a
En e p ises in Poland
Despi e ha in many en e p ises in Poland he
concep o in ellec ual capi al is known, only in
a ac ion o hem has he s a egy o in ellec ual
capi al managemen been de eloped and
implemen ed. The esul s o he s udy showed
ha 22% o small en e p ises decla ed he
unc ioning o such a s a egy, in he case o
medium-sized en e p ises – 30%, and among
la ge companies 28%. In o de o assess he
ela ionship be ween he size o an en e p ise
and ha ing an in ellec ual capi al managemen
s a egy, he ollowing esea ch hypo heses
we e o mula ed:
H0: The size o he en e p ise measu ed
by he numbe o employees does no ha e
an impac on possessing an in ellec ual capi al
managemen s a egy.
H1: The size o he en e p ise measu ed
by he numbe o employees has an impac on
possessing an in ellec ual capi al managemen
s a egy.
The alue o es s a is ics was equal o
x2 = 3.451 a a c i ical le el o signi icance
p- alue = 0.178.
The ob ained esul shows ha he e a e no
g ounds o ejec ing he null hypo hesis, which
means ha he size o he en e p ise does no
ha e an impac on possessing an in ellec ual
capi al managemen s a egy.
3.3 Measu ing he In ellec ual
Capi al a En e p ises in Poland
The esul s o measu ing he in ellec ual capi al
may cons i u e he basis o a comp ehensi e
en e p ise alua ion and suppo decision-
making ega ding, among o he hings, in es ing
in in angible asse s. Ongoing moni o ing o he
le el o in ellec ual capi al and i s elemen s
allows o hei op imiza ion and a be e
unde s anding o he ela ionships be ween
hem. Measu emen o in ellec ual capi al also
allows o inc ease employees’ awa eness o
hei ole in he company and c ea ing alue.
Despi e he signi icance o in ellec ual
capi al o he de elopmen and compe i i eness
o en e p ises, and measu emen ools well-
desc ibed in li e a u e, he esul s seem o
indica e ha he as majo i y o en e p ises
loca ed in Poland do no measu e in ellec ual
capi al and/o i s elemen s. I is wo h obse ing
ha he measu emen o in ellec ual capi al
and/o i s elemen s is mo e o en decla ed
by small en e p ises employing up o 50
employees han medium and la ge en e p ises.
De ailed esul s a e p esen ed in Fig. 1.
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Business Adminis a ion and Managemen
In o de o assess he ela ionship
be ween he size o an en e p ise and whe he
i measu es in ellec ual capi al and/o i s
elemen s, he ollowing esea ch hypo heses
we e o mula ed:
H0: The size o he en e p ise measu ed
by he numbe o employees does no ha e
an impac on i measu ing in ellec ual capi al
and/o i s componen s.
H1: The size o he en e p ise measu ed
by he numbe o employees has an impac
on i measu ing in ellec ual capi al and/o i s
componen s.
The alue o es s a is ics was equal o
x2 = 5.815 a a c i ical le el o signi icance
p- alue = 0.213.
The ob ained esul shows ha he e a e no
g ounds o ejec he null hypo hesis, which means
ha he size o he en e p ise does no ha e an
impac on i measu ing in ellec ual capi al.
3.4 TheSigni icanceo  heElemen s
o In ellec ual Capi al in Shaping
he Sus ainable De elopmen
o En e p ises
The assessmen o he signi icance o he
impac o he elemen s o in ellec ual capi al
on he sus ainable de elopmen o en e p ises
was ca ied ou h ough i s di ision in o h ee
componen s o in ellec ual capi al, among
which he ollowing we e speci ied:
 human capi al: H1 – employee knowledge,
H2 – employee skills, H3 – c ea i i y
and inno a i eness o employees,
H4 – employee mo i a ion, H5 – employee
expe ience, H6 – employee in eg i y,
H7 – employee hones y, H8 – abili y o
wo k in a eam, H9 – abili y and willingness
o employees o sha e knowledge
and in o ma ion, H10 – employee
sa is ac ion, H11 – employee in ol emen ,
H12 – employee well-being, H13 – heal h;
 s uc u al capi al: S1 – echnical
in as uc u e, S2 – in o ma ion esou ces/
sys ems and da abases, S3 – in ellec ual
p ope y (pa en s, licenses, adema ks),
S4 – o ganiza ional cul u e, S5 – p ocesses
and managemen me hods;
 ela ional capi al: R1 – cus ome loyal y and
sa is ac ion, R2 – cus ome pa icipa ion in
c ea ing p oduc s/se ices, R3 – in es o
ela ions, R4 – ela ions wi h science and
esea ch uni s, R5 – ela ions wi h supplie s,
R6 – epu a ion and image o he en e p ise
on he ma ke .
Fig. 1: Measu emen o in ellec ual capi al and/o i s elemen s based on he size
o en e p ises in Poland
Sou ce: own
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42 2021, XXIV, 2
Business Adminis a ion and Managemen
De ailed pa ame e s o uzzy iangula
numbe s (a – le sp ead o uzzy numbe ,
b – he cen e o a uzzy numbe a ea, c – igh
sp ead o uzzy numbe ) o ac o s o human,
s uc u al and ela ional capi al ha e been
espec i ely p esen ed in Tab. A1–A3 in he
Appendix.
In he nex s age o he analysis, he
ela ionship be ween he size o he en e p ise
and he pe cep ion o he signi icance o he
impac o indi idual elemen s o in ellec ual
capi al on he sus ainable de elopmen o
en e p ises has been examined. Fo each o
he elemen s o in ellec ual capi al, he ollowing
esea ch hypo heses ha e been e i ied:
H0: The size o he en e p ise measu ed
by he numbe o employees does no ha e an
impac on he assessmen o he signi icance o
a gi en elemen o in ellec ual capi al in shaping
he sus ainable de elopmen o he en e p ise.
H1: The size o he en e p ise measu ed
by he numbe o employees has an impac on
In ellec ual capi al
elemen s F

-s a is ic P- alue Tes esul
Human capi al
H1 1.242 0.289 Accep H0
H2 0.139 0.870 Accep H0
H3 0.253 0.776 Accep H0
H4 0.181 0.834 Accep H0
H5 3.151 0.043 Rejec H0
H6 4.642 0.009 Rejec H0
H7 0.585 0.558
Accep H0
H8 1.282 0.278
H9 0.165 0.848
H10 2.515 0.081
H11 0.510 0.600
H12 0.487 0.615
H13 2.322 0.099
S uc u al capi al
S1 1.803 0.165 Accep H0
S2 0.944 0.390
S3 2.112 0.121 Accep H0
S4 3.077 0.047 Rejec H0
S5 1.308 0.271 Accep H0
Rela ional capi al
R1 4.336 0.013 Rejec H0
R2 2.023 0.133 Accep H0
R3 2.085 0.125 Accep H0
R4 5.973 0.003 Rejec H0
R5 0.068 0.934 Accep H0
Sou ce: own
Tab. 2: De ails o ANOVA o in ellec ual capi al componen s
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he assessmen o he signi icance o a gi en
elemen o in ellec ual capi al in shaping he
sus ainable de elopmen o he en e p ise.
The FANOVA me hod was used as he
a e age impo ance assessmen s ha e been
exp essed in he o m o uzzy iangula
numbe s in he analysis o he ela ionship
be ween he size o he en e p ise and he
pe cep ion o he signi icance o he impac o
selec ed elemen s o in ellec ual capi al on he
sus ainable de elopmen o en e p ises. Tab. 2
p esen s he alue o es s a is ics F , he p- alue
and he decision ega ding he lack o g ounds
o , o he ejec ion o he null hypo hesis o
each o he elemen s o in ellec ual capi al.
The esul s o he hypo hesis e i ica ion
indica ed ha in mos cases he size o he
en e p ise does no a ec he assessmen
o he impo ance o he impac o in ellec ual
capi al elemen s on achie ing hei sus ainable
de elopmen . Signi ican di e ences we e
obse ed o 5 componen s: employee
expe ience and in eg i y, o ganiza ional cul u e,
cus ome loyal y and sa is ac ion, ela ions wi h
science and esea ch uni s.
In acco dance wi h he me hodology
adop ed in he a icle, iden i ying he mos
impo an elemen s o in ellec ual capi al,
acco ding o manage s, ha ha e an impac
on he sus ainable de elopmen o en e p ises
– equi ed he use o uzzy con e sion scales.
Possessing signi icance assessmen s o he
elemen s o in ellec ual capi al exp essed in he
o m o uzzy iangula numbe s, i was possible
o calcula e mean signi icance sco es using
uzzy numbe a i hme ic. Since he a e age
signi icance a ings a e also exp essed in he
o m o uzzy iangula numbe s, hey ha e
been de uzzi ied in acco dance wi h he CoG
and median me hods. Due o a la ge numbe
o elemen s o in ellec ual capi al, in o de
o acili a e he compa ison o signi icance
assessmen s, indi idual elemen s ha e been
gi en ank acco ding o he p inciple ha
he highe he a e age alue, he highe he
ank. The anks assigned o he elemen s
o in ellec ual capi al ha e been speci ied in
Tabs. 3–5.
Selec ing he me hod o de uzzi ica ion o
he a e ages o uzzy numbe s did no ha e
a signi ican impac on he dis ibu ion o he
le els assigned o he elemen s o in ellec ual
capi al. Sligh di e ences ha e been obse ed
only in he case o le els assigned o elemen s
o he human capi al in he g oup a small and
Human capi al
elemen s
Size o en e p ise
Small Medium La ge
CoG Median CoG Median CoG Median
H1 4 4 331 1
H2 332222
H3 13 11 10 10 8 8
H4 775555
H5 9 9 12 12 10 11
H6 224477
H7 11113 3
H8 10 10 9 9 12 12
H9 12 13 11 11 6 6
H10 8 8 8 8 13 13
H11 55664 4
H12 11 12 13 13 11 10
H13 667799
Sou ce: own
Tab. 3: Ranking o he in luence o elemen s o human capi al on he sus ainable
de elopmen o en e p ises in Poland
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50 2021, XXIV, 2
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Rela ional
capi al
elemen s
Size o en e p ise
Small Medium La ge
a* b** c*** a bc a bc
R1 5.410 8.723 9.930 5.190 8.503 9.862 4.281 7.615 9.682
R2 3.173 6.352 8.883 3.564 6.845 9.191 3.330 6.662 9.411
R3 3.338 6.382 8.703 3.844 6.958 9.018 3.330 6.466 9.018
R4 1.640 4.365 7.377 2.297 5.216 7.956 2.442 5.552 8.219
R5 4.417 7.653 9.585 4.408 7.742 9.664 4.309 7.643 9.804
R6 5.627 8.938 9.924 5.634 8.971 9.977 4.916 8.251 9.841
Sou ce: own
No e: * a – le sp ead o uzzy numbe , ** b – he cen e o a uzzy numbe a ea, *** c – igh sp ead o uzzy numbe .
Tab. A3: The signi icance o s uc u al capi al o he de elopmen o en e p ises
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