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ECONOMIC ASPECTS OF FORMATION AND USE OF INTELLECTUAL CAPITAL OF
CONSTRUCTION ENTERPRISES
Prunenko D.
doctor of economics, associate professor, department of transport systems and logistics O. M. Beketov National University of Urban Economy in Kharkiv, Ukraine
ABSTRACT
It is proved that modern aspects of ensuring the development of construction companies require a rethinking of approaches and the use of appropriate tools. In this context, the implementation of the directions of formation and use of intellectual capital in construction companies, which in developed economic systems occupies up to 80% of the assets of economic entities, deserves attention.
The purpose of the study is to form the economic aspects of the creation and use of intellectual capital of construction companies. To achieve this goal the following tasks are solved: development and implementation of a theoretical and methodological approach to assessing the level of formation and use of intellectual capital of construction companies; formation of a quantitative basis for making managerial decisions to increase the efficiency of formation and use of intellectual capital as an important element in creating economic aspects; development of measures to increase the efficiency of formation and use of intellectual capital of construction companies on the basis of certain economic aspects of its implementation.
The evaluation identified the need to develop a strategy for the management of intellectual capital to increase its efficiency in specific construction companies, increase the level of competitiveness and investment attractiveness.
The economic aspects of the formation and use of intellectual capital of construction companies, which are based on the methodology of its evaluation, which allowed to form a systemic environment for the development of appropriate strategies and sound management decisions.
Keywords: construction enterprises, intellectual capital, modern tools, theoretical and methodological provisions.
Introduction. Modern aspects of ensuring the development of construction companies require a rethinking of approaches and the use of appropriate tools. In this context, the implementation of directions of formation and use of intellectual capital (IC) in construction companies, which in developed economic
systems occupies up to 80% of the assets of economic entities, deserves attention. Unfortunately, during the years of Ukraine's independence there has been no systematic increase in the importance of intellectual capital in the activities of construction companies. In such conditions, the urgent task is to provide directions
for the formation and use of intellectual capital in construction companies by focusing on economic aspects.
Review of existing theoretical provisions. The
formation of theoretical and methodological foundations for the definition of intellectual capital, its structural components are presented in the developments [1-8] and others.
Along with this, the issues of determining the economic aspects of the formation and use of intellectual capital of construction companies remain unresolved.
The purpose and objectives of the study. The
purpose of the study is to form the economic aspects of the creation and use of intellectual capital of construction companies.
To achieve this goal the following tasks are solved:
- development and implementation of a theoretical and methodological approach to assessing the level of formation and use of intellectual capital of construction companies;
- formation of a quantitative basis for making managerial decisions to increase the efficiency of formation and use of intellectual capital as an important element in creating economic aspects;
- development of measures to increase the efficiency of formation and use of intellectual capital of construction enterprises on the basis of certain economic aspects of its implementation.
Main part. Economic aspects of the formation and use of intellectual capital of construction companies is based on the proposed methodology for its evaluation.
To implement the evaluation methodology, the following stages are defined:
Table 1
Local models for determining the first level indicators in the system of evaluation of the formation and use of __intellectual capital of construction enterprises_
Indicator Local model
Human capital (HC) 8 HC = \ where a1... a - rank coefficie human capital on the relevant g a1xHC1 + a2xHC2 + a3xHC3 + a4xHC4 + a5xHC5 + a6xHC6 +, a7xHC7 + a8xHC8 nts that determine the influence of structural elements of eneralization criterion
Intellectual property (IP) IP = VftxIPi + &xIP2 + ftxIP3 + ftxIP4, where P1...P4 - rank coefficients that determine the influence of structural elements of intellectual property on the relevant generalization criterion
Organizational capital (OC) OC = ^/y1xOC1 + y2xOC2 + y3xOC3 + y4xOC4 + y5xOC5, where y1... y5- rank coefficients that determine the influence of structural elements of organizational capital on the relevant generalization criterion
Brand capital (BC) 6 BC = \ where rank coefficiei branded capital on the relevant ^1xBC1 + ^2xBC2 + ^3xBC3 + ^4xBC4 + ^5xBC5 + ^6xBC6 , ts that determine the influence of structural elements of generalization criterion
1. Construction of information and analytical support for assessing the formation and use of intellectual capital of construction companies.
2. Definition of IC components.
3. Construction of a multilevel system of indicators used to assess the formation and use of intellectual capital of construction companies.
4. Development of local models for evaluation of indicators characterizing the formation and use of IR.
5. Evaluation of indicators characterizing the formation and use of intellectual capital of construction enterprises based on the application of the method of expert evaluations.
6. Construction of an integrated model for assessing the formation and use of IR.
7. Estimation of weights by applying the method of analysis of hierarchies.
8. Determination of an integrated indicator for the formation and use of intellectual capital of construction enterprises.
9. Interpretation of the obtained results.
Characterizing the implementation of the
methodology for assessing the formation and use of intellectual capital, it should be noted that the construction of information and analytical support is based on accounting and financial reporting, data on the use of technology and means of production, level of training and use of workers between different groups of stakeholders, information on the application of scientific and technical developments.
On the basis of the constructed multilevel system of indicators for definition of factors of the first level local models in which values of indicators of the second level and rank coefficients are used are offered (tab. 1).
Market assets (MA) MA =^u1xUk1 + u2xUk2, where u1, u2 - rank coefficient, which determines the influence of structural elements of market assets on the corresponding generalizing criterion
Investment and innovation capital (IIC) IIC = ^A1xIIC1 + A2xIIC2, where X1, X2 - rank coefficients that determine the influence of structural elements of investment and innovation capital on the relevant generalizing criterion
Social capital (SC) SC = ^p1xSC1 + p2xSC2, where p , p2 - rank coefficients that determine the influence of structural elements of social capital on the relevant generalization criterion
The level of interaction of stakeholders with the construction company, which affects the formation of intellectual capital (S) 15 S = A where t1 ... r15- rank coe stakeholders on the form company T1xS1 + T2xS2 + T3xS3 + T4xS4 + T5xS5 + T6xS6 + T7xS7 + T8xS8 + T9xS9 + T10xS10 +Tnx5n + ^12x^12 + T13xS13 + T14xS14 +, T15x^15 fficients that determine the influence of the relevant group of ation and use of intellectual capital of the construction
Information support (IS) 7 IS = \ where u ... u7- rank c information support oi H1xIS1 + n2xIS2 + n3xIS3 + n4xIS4 + n5xIS5 + VeXlS6 + ^7xIS7 , oefficients that determine the influence of structural elements of ii the corresponding generalizing criterion
In the developed local models, the values of the second level indicators and rank coefficients are determined by constructing an appropriate questionnaire. It should be noted that the results of determining the second level indicators in the system of expert assessment of the formation and use of intellectual capital of construction companies are presented as the average of the sum of individual expert assessments ranging from 0 to 10. Values of indicators influencing the formation and use of intellectual capital are estimated as decimal from the sum of individual expert assessments.
To obtain a standardized assessment of the components, the approach of identifying «anomalous points», which determine the results of a survey of experts, is used.
When applying the method of expert evaluations and determining the quality of the obtained results, a concordance coefficient is used, which characterizes the level of agreement of experts' opinions. This indicator is determined by the following ratio:
K = ■
12 x SK n2 x (m3-m.y
(1)
agreement of experts' opinions corresponds to the values of the concordance coefficient from 0.75 to 1.
According to the developed local models, the ranking coefficients are estimated. Their values are determined depending on the rank and number of local indicators that characterize the formation and use of intellectual capital of construction companies and are used in appropriate models.
The following stages are implemented: 1. Determining the change in the rank of indicators depending on their number:
AT: = 1--
(2)
where K - concordance coefficient;
SK - the sum of the squares of the deviations of all estimates of the ranks of each object of study from the average value;
n - the number of interviewed experts on the formation of intellectual capital of construction companies;
m - the number of indicators identified in the study.
The concordance coefficient has a value in the range from 0 to 1. If its value is close to 1, it indicates an increase in the level of consistency of expert opinions, otherwise - a decrease. The high level of
where Ari - changing the ranks of indicators used in the relevant models;
n - the sum of the number of indicators used in local models.
2. Determining the maximum rank (R max), the value of which is equal to 1 and is assigned to the indicator that has the highest value.
3. Estimation of the rank coefficient for the indicator with the highest rank and equal to 1.
4. Determining the ranks of other indicators (R i) depending on their values.
5. Estimation of ranking coefficients for other indicators used in the relevant models:
kn — Rn
(.Ri X Ar)
(3)
where kR - values of rank coefficients of indicators.
In the proposed multilevel system for assessing the formation and use of intellectual capital of construction companies, individual indicators are determined by quantitative parameters.
In accordance with the directions of implementation of the methodology for assessing the formation and use of IR BP built an integrated model:
i
n-1
To assess the weights that characterize the values of indicators for the integrated criterion, the method of analysis of hierarchies is used, the essence of which is to determine the mutual influence of local indicators, taking into account their values in accordance with the formation and use of intellectual capital for surveyed construction companies.
The results of the assessment of the integrated criterion of formation and use of intellectual capital of construction enterprises are presented in table. 2.
Table 2
The results of the assessment of the integrated criterion of formation and use of intellectual capital of _construction enterprises (methodological approach), resp. from_
Construction companies The value of the integrated criterion of formation and use of intellectual capital
PJSC Holding Company «Kyivmiskbud» 0,465
PJSC «Poltava House-Building Plant» 0,091
PJSC Trust «Zhitlobud-1» 0,465
PJSC firm «Galbud» 0,065
State Enterprise Construction Company «Ukrbud» 0,065
PJSC «Kyiv Specialized Repair and Construction Company» 0,049
PJSC «Ukrainian special construction and assembly enterprise «Ukrspetsbudmontazh» 0,049
PJSC «Kryvorizhaglobud» 0,049
PJSC «Lutsk House-Building Plant» 0,154
he = K1 * HC + K2 * IP + K3 * OC + K4 * BC + K5 * MA + K6 * * 11C + K7 * SC + K8 * S + K9 * IS, (4) where 1,e - integral criterion of formation and use of intellectual capital of construction enterprises;
ki... K9 - weights that characterize the impact of indicators on the integrated criterion of formation and use of IR.
As a result of the study it was determined that PJSC «Holding Company «Kyivmiskbud» and PJSC Trust «Zhytlobud-1» are characterized by the highest values of the integrated criterion, which indicates the available opportunities for its formation and use. At a low level, intellectual capital is formed and used at PJSC «Lutsk House-Building Plant», but it is more compared to PJSC «Poltava House-Building Plant», PJSC «Galbud», PJSC «Building Company «Ukrbud», PJSC «Kyiv Specialized Repair Company», PJSC« Ukrainian special construction and assembly enterprise «Ukrspetsbudmontazh», PJSC «Kryvorizhaglobud».
The evaluation identified the need to develop a strategy for the management of intellectual capital to increase its efficiency in specific construction companies, increase the level of competitiveness and investment attractiveness.
Conclusions and suggestions. The economic aspects of the formation and use of intellectual capital of construction companies, which are based on the methodology of its evaluation, which allowed to form a systemic environment for the development of appropriate strategies and sound management decisions.
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