A RETROSPECTIVE OF EVALUATION MODELS ON INTELLECTUAL CAPITAL

In the classical theory of economics, capital is one of the three factors of production, in addition to land and labor, and refers in particular to buildings, equipment, and machinery etc., used for the production of other goods (the term physical capital is also used by the specialized literature) (Brãtianu & Jianu, 2006). The present study intend to bring to the forefront the main evalluation methods for intellectual capital, as proposed, supported and criticized at the same time by researchers and practitioners. The study offers response to the following research questions: Which are the advantages and disadvantages of the intellectual capital evaluation methods? And what are the main studies approaching the subject of intellectual capital evaluation at international level? The collection and analysis of intellectual capital evaluation models and the non-participative observation are the main instruments used to bring to the forefront the main international existing evaluation frameworks. The information sources representing the base for these researches are especially constituted by articles published in specialized magazines, both from accounting and economics fields, specialized works relevant to the reference field, legislative documents, official documents, press releases and other documents issued by various national and international bodies. The most representative studies bringing to the forefront the evaluation of intellectual capital are the ones elaborated by Mouritsen et al (Mouritsen et al, 2001), Manea and Gorgan (Manea and Gorgan, 2003), Tayles (Tayles, 2002), Tayles et al (Tayles et al, 2007). The presented approaches offer a general idea on the range of methods, disciplines and operational specializations existing for the evaluation of intellectual capital. Only one of them - Balanced Scorecard - is largely used, while the rest of the methods remain too theoretical or too poorly developed to be universally accepted. We believe that the efforts from the regulation and standardization bodies in the view of intellectual capital evaluation are too small, despite the fact that community shows an increased interest in this sense, many companies being tempted to build their own system of evaluating performances with regards to intellectual capital.intellectual capital, evaluation models, companies, Balanced Scorecard, international level

Influența exercitată de Led-uri și tuburile fluorescente, de diferite culori, asupra proceselor regenerative și a morfogenezei la culturile in vitro de Rebutia heliosa

The paper traces how the light source and light color influence the regenerative processes and morphogenesis in vitro cultures of Rebutia heliosa. To establish the vitroculture of R. heliosa, some explants from young plants, either buds or rounds cut from young stems and cross-sectioned were considered. The culture medium consisted of: macroelements and Fe EDTA Murashige-Skoog (1962), microelements Heller (1953), a mineral mixture to which the following vitamins were added: pyridoxine HCl, thiamine HCl and nicotinic acid (each 1 mg/l, each), m-inositol – 100 mg/l, sucrose – 20 g/l and agar-agar 7 g/l, without growth phytoregulators.The variable element was the lighting source. Fluorescent tubes and LEDs (monochrome but differently coloured) have been used: blue (λ = 470 nm), yellow (λ = 580 nm), green (λ = 540 nm), red (λ = 670 nm) as well as LED`s emitting white light (λ = 510 nm) at a luminous intensity of 1000 lux. The evolution of R. heliosa vitro cultures was monitored for 90 days and analyzed their reaction variability. Based on the comparative study, the following can be stated: the light of fluorescent tubes is more suitable for the morphogenesis of R. heliosa vitroplants, but the processes of regeneration and organogenesis are directly influenced by the source and color of light influenced, thus rhizogenesis and caulogenesis is favored by the presence of green and red light emitted by LEDs, while the white and yellow light of fluorescent tubes favors the caulogenesis and callusogenesis processes.Lucrarea urmărește modul în care sursa de iluminare și culoarea luminii influențează procesele regenerative și morfogeneza în vitroculturile de R. heliosa. Pentru a înființa vitrocultura de R. heliosa am prelevat explante de la plante t inere, fie mugurași, fie rondele decupate din tulpinile tinere și secţionate transversal. Mediul de cultură utilizat de noi a constat din: macroe-lemente şi Fe EDTA Murashige-Skoog (1962), microelemente Heller (1953), amestec mineral la care au fost adăugate vitaminele: piridoxină HCl, tiamină HCl şi acid nicotinic (câte 1 mg/l, fiecare), m-inozitol – 100 mg/l, zaharoză – 20 g/l şi agar-agar 7 g/l, fără fitoregulatori de creștere. Variabila este reprezentată de sursa de iluminare, tuburi fluorescente și LED-uri (monocrome și diferit colorate): albastru (λ = 470nm), galben (λ = 580nm), verde (λ = 540nm), roșu (λ = 670nm) și LED-uri care emit lumină albă (λ = 510nm) la o intensitate luminoasă de 1000 lux. Am urmărit timp de 90 de zile evoluţia vitroculturilor de R. heliosa și am analizat variabilitatea de reacţie a acestora iar pe baza studiului comparativ putem afirma următoarele: lumina tuburilor fluorecente este mai potrivită pentru morfogeneza vitroplantulelor de R. heliosa, dar procesele de regenerare și organogeză sunt influențate în mod direct de sursa și culoarea luminii, astfel rizogeneza și caulogeneza este favorizează de prezența luminii verde și roșie emisă de LED-uri în timp ce lumina albă și galbenă a tuburilor fluorescente avantajează procesele de caulogeneză și calusogeneză

A RETROSPECTIVE OF EVALUATION MODELS ON INTELLECTUAL CAPITAL

In the classical theory of economics, capital is one of the three factors of production, in addition to land and labor, and refers in particular to buildings, equipment, and machinery etc., used for the production of other goods (the term physical capital is also used by the specialized literature) (Bratianu and Jianu, 2006). The present study intend to bring to the forefront the main evalluation methods for intellectual capital, as proposed, supported and criticized at the same time by researchers and practitioners. The study offers response to the following research questions: Which are the advantages and disadvantages of the intellectual capital evaluation methods? And what are the main studies approaching the subject of intellectual capital evaluation at international level? The collection and analysis of intellectual capital evaluation models and the non-participative observation are the main instruments used to bring to the forefront the main international existing evaluation frameworks. The information sources representing the base for these researches are especially constituted by articles published in specialized magazines, both from accounting and economics fields, specialized works relevant to the reference field, legislative documents, official documents, press releases and other documents issued by various national and international bodies. The most representative studies bringing to the forefront the evaluation of intellectual capital are the ones elaborated by Mouritsen et al (Mouritsen et al, 2001), Manea and Gorgan (Manea and Gorgan, 2003), Tayles (Tayles, 2002), Tayles et al (Tayles et al, 2007). The presented approaches offer a general idea on the range of methods, disciplines and operational specializations existing for the evaluation of intellectual capital. Only one of them - Balanced Scorecard is largely used, while the rest of the methods remain too theoretical or too poorly developed to be universally accepted. We believe that the efforts from the regulation and standardization bodies in the view of intellectual capital evaluation are too small, despite the fact that community shows an increased interest in this sense, many companies being tempted to build their own system of evaluating performances with regards to intellectual capital

A RETROSPECTIVE OF EVALUATION MODELS ON INTELLECTUAL CAPITAL

In the classical theory of economics, capital is one of the three factors of production, in addition to , Manea and Gorgan (Manea and Gorgan, 2003), Tayles (Tayles, 2002), Tayles et al (Tayles et al, 200

A LONGITUDINAL ANALYSIS OF INTELLECTUAL CAPITAL

The term intellectual capital has been appeared recently in economy being debated in literature since 90s playing an important role in the economic activity of an entity of nowadays. The emerging of the "new economyâ€, mainly driven by information and knowledge, has been identified by the Organisation for Economic Cooperation and Development as the explanation lying at the base of the development of intellectual capital, a fundamental topic in business (Hornery, 1999). One way or another, intellectual capital plays a significant role in the economic, administrative, technological and social development of contemporary times, being difficult to quantify. Many researchers avoid defining intellectual capital, but consider it the basic value of an entity, as it contains non-financial and related information (Amir and Lev, 1996; Edvinsson and Malone, 1997; Stewart, 1997; Bontis, 2001). The purpose of our paper is to highlights the contributions of researchers in the field of intellectual capital as far as the published articles in the high quality journals are concerned. Our paper presents a quantitative research by performing, on one side, a content analysis of the prestigious international journals which include papers related to intellectual capital and, on the other side, a content analysis of those articles. The originality of the present article is represented by the personal contribution to the stage of knowledge in the field of intellectual capital by means of analyzing already existent researches in the field. The results of our analysis, demonstrate that the studies conducted until now are very few by comparison to the number it should have existed until now in the literature, which demonstrates that this field of research is still at its early stage

Environmental Reporting and Good Practice of Corporate Governance: Petroleum Industry Case Study

AbstractBecause environmental reporting remains voluntary on an international level, there are major differences in terms of the quality and quantity of environmental information, reported by entities from varied industries and countries. Starting from the agency theory, the company is accountable for the decision to report environmental information, decision which is made by the management to serve for the best interest of the shareholders (Buniamin et al., 2011: 56). Within this study, we would therefore focus on certain factors related to the entity's internal characteristics, consisting mainly in how the entity is managed, in order to identify if good corporate governance practices explain the voluntary environmental reporting. The research is conducted as an empirical study which explains how the disclosure of environmental information varies across the largest entities operating in the petroleum industry and reflects factors that could account for these variations. The paper identifies the corporate governance characteristics such as the percentage of independent directors and the existence of an environmental committee as factors that explain the variation in environmental information disclosure. We conclude that in order to secure the transparency of environmental performance within a company, the board should ensure a sufficiently number of independent members able to exercise an independent reasoning for solving potential conflicts of interests. Also, the environmental committee monitors the company's activity in terms of its environmental impact, bringing about increasing transparency regarding the environmental aspects. We can therefore consider that implementing good corporate governance practices by establishing environmental, safety or responsibility committees that monitor the environmental impact of the company and introducing a sufficient numbers of directors ensuring transparency and objectivity can solve the agency's theory conflict and determine companies to report more voluntary information regarding their environmental performance and other aspects. The paper contributes to an understanding of the correlations between corporate governance practices and voluntary environmental reporting