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A cross-sectional analysis of value-drivers in the knowledge economy

Oh, K. B and Bose, Sanjoy and Billington, Nicholas (2003) A cross-sectional analysis of value-drivers in the knowledge economy. International journal of knowledge, culture and change management, 3. pp. 323-338. ISSN 1447-9575 Online 1447-9524 Print

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Abstract

With a rapidly evolving business environment due to the process of intense techonological innovations, a new and competitive paradigm in which intellectual capital has become a critical driver of business performance has emerged. This paper conducts an initial characterisation of the value-drivers prominent in four intellectual-capital intensive sectors in Australia. This study forms a precursor to a more profound understanding of the asset pricing process in the knowledge economy. Given the need for developing new and more appropriate models for valuing intellectual assets, this research examines four industries with the primary aim of identifying value-drivers, i.e., underlying characteristics that create value in intellectual assets. The perceived value-drivers are identified from two sources, firstly for the e-commerce sector the value drivers are factors derived from market data and, secondly those identified in the biotechnology, information technology and energy and environment sectors are based on interviews conducted with firms in these sectors. The value-drivers that pervade the value of knowledge-based equity are identified, statistically tested and analysed. The implycations for valuation of knowledge assets, equity envestment, public policy and strategic management are discussed and explained.

Item Type: Article
Uncontrolled Keywords: Australia, value-drivers, knowledge economy, equity value, e-commerce, knowledge-based
Subjects: RFCD Classification > 350000 Commerce, Management, Tourism and Services
Faculty/School/Research Centre/Department > School of Management and Information Systems
Depositing User: Ms Phung T Tran
Date Deposited: 12 Jan 2009 16:33
Last Modified: 11 Jul 2011 00:51
URI: http://vuir.vu.edu.au/id/eprint/1290
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