International Experience in Managing Intellectual Capital of Territories for Innovative Development
Proceedings of the "New Silk Road: Business Cooperation and Prospective of Economic Development" (NSRBCPED 2019)
Actuality. Today the role of intellectual capital, which integrates in its structure a significant part of intellectual assets and constitutes a basis of innovative development of the country, is consolidated at the legislative level and acquires formalized features of the priority direction of state activity. The transition to an innovative economy, which is characterized by high speed of socio-economic development, formation of intellectual capital as a market and increase of its role, forces
... of its role, forces countries to develop strategies for innovative development. Methods. Using the summary of the conceptual framework review and the existing approaches to the formation and development of intellectual capital market used methods of abstraction, logical analysis and synthesis, we obtained a complete picture that describes conditions and factors of the intellectual capital market formation. Methods of evolutionaryhistorical approach provided identification of cause-and-effect relations and establishment of key regularities describing transformation of the market of intellectual capital. In order to concretize trends and identify promising areas of intellectual capital market development for the purposes of innovative development strategy choice, the methods of formalized representation of control systems, combinatorial and situational modeling are applied. Results. The essence of intellectual capital is revealed, intellectual capital market term is more closely defined, its subjects and structural elements are presented. The obtained results made it possible to develop a classification of innovative development strategies. This classification allows to expand the theoretical basis for studying the features of innovative development of various countries with practice-oriented knowledge to simplify and boost efficiency in exchange of experience among the professional scientific community. Provided this, the matrix of a choice of a strategy of innovative development at the country level is developed with regard to comparison of the offered classification and type of the market of intellectual capital. This tool is based on the identification of the optimal combination of the national innovation system model and level of influence of intellectual capital on the development of the country's innovation system. The scientific novelty of this study contributes to development of a matrix of formation and implementation of the innovative development of the country's strategy model based on the characteristics of the intellectual capital market operating in this country.