Tamara Radjenović, Bojan Krstić

DOI Number
First page
Last page


The concepts of intellectual capital and competitiveness are widely studied issues among researchers during the last few decades. Intangible assets have been proved to be the fundamental source of value and competitiveness in modern enterprises. Intellectual capital is a valuable invisible resource which drives firm’s growth and provides superior value for stakeholders. Therefore, the aim of the paper is to examine the role the intellectual capital has in creating and sustaining competitive advantage of enterprises from the resource-based perspective.


intellectual capital, competitive advantage, knowledge economy, value creation, resource-based view

Full Text:



Amit, R., & Schoemaker, P. J. (1993). Strategic Assets and Organizational Rent. Strategic Management Journal, 14(1), 33-46. doi:10.1002/smj.4250140105

Andersén, J. (2011). Strategic Resources and Firm Performance. Management Decision, 49(1), 87-98. doi:10.1108/00251741111094455

Andriessen, D. (2004). Making Sense of Intellectual Capital – Designing a Method for the Valuation of Intangibles. Burlington, MA: Elsevier Butterworth-Heinemann.

Barney, J. B. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99-120.

Barney, J. B., & Wright, P. M. (1998). On Becoming a Strategic Partner: The Role of Human Resources in Gaining Competitive Advantage. Human Resource Management, 37(1), 31-46. doi:10.1002/(SICI)1099-050X(199821)37:1<31::AID-HRM4>3.0.CO;2-W

Bontis, N., & Fitz-enz, J. (2002). Intellectual Capital ROI: A Causal Map of Human Capital Antecedents and Consequents. Journal of Intellectual Capital, 3(3), 223-247. doi:10.1108/14691930210435589

Brennan, N., & Connell, B. (2000). Intellectual Capital: Current Issues and Policy Implications. Journal of Intellectual Capital, 1(3), 206-240. doi:10.1108/14691930010350792

Brooking, A. (1996). Intellectual Capital: Core Assets for the Third Millennium Enterprise. London, UK: International Thomson Business Press.

Choong, K. K. (2008). Intellectual Capital: Definitions, Categorization and Reporting Models. Journal of Intellectual Capital, 9(4), 609-638. doi:10.1108/14691930810913186

de Pablos, P. O. (2003). Intellectual Capital Reporting in Spain: A Comparative View. Journal of Intellectual Capital, 4(1), 61-81. doi:10.1108/14691930310455397

Douma, S., & Schreuder, H. (1998). Economic Approaches to Organizations. London: Prentice Hall.

Edvinsson, L., & Malone, M. (1997). Intellectual Capital: Realising Your Company's True Value by Finding Its Hidden Brainpower. New York: Harper Collins Publishers Ins.

FASB. (2001). Getting a Grip on Intangible Assets - What They Are, Why They Matter, and Who Should Be Managing Them in Your Organization. Harvard Managment Update, 6(2), 6-8.

García-Ayuso, M. (2003). Intangibles: Lessons from the Past and a Look into the Future. Journal of Intellectual Capital, 4(4), 597-604. doi:10.1108/14691930310504590

Hall, R. (1992). The Strategic Analysis of Intangible Resources. Strategic Management Journal, 13(2), 135-144. doi:10.1002/smj.4250130205

Hitt, M. A., & Ireland, D. R. (2002). The Essence of Strategic Leadership: Managing Human and Social Capital. Journal of Leadership & Organizational Studies, 9(1), 3-14. doi:10.1177/107179190200900101

IASB. (2004). International Accounting Standard 38: Intangible Assets. London: International Accounting Standard Board .

Itami, H. (1987). Mobilizing Invisible Assets. Cambridge, MA: Harvard Business Press.

Krstić, B. (2007). Resursi i konkurentska prednost preduzeća. [Resources and Competitive Advantage of Enterprise]. U Z. Aranđelović, Regionalni razvoj i demografski tokovi zemalja Jugoistočne Evrope (str. 347-356). Niš: Ekonomski fakultet Univerziteta u Nišu.

Krstić, B. (2009). Intelektualni kapital i konkurentnost preduzeća. [Intellectual Capital and Competitiveness of Enterprise]. Niš: Ekonomski fakultet.

Krstić, B. (2014). Upravljanje intelektualnim kapitalom preduzeća. [Management of the Intellectual Capital of Enterprise]. Niš: Ekonomski fakultet Univerziteta u Nišu.

Krstić, B., & Sekulić, V. (2016). Determinante resursno baziranog pristupa unapređenju strategije, konkurentnosti i performansi preduzeća. [Determinants of Resource-Based Approach to Improving Strategy, Competitiveness and Business Performance]. U J. Đurović Todorović, & M. Radosavljević, Konkurentnost i održivi razvoj privrede Republike Srbije (str. 354-369). Niš: Ekonomski fakultet Univerziteta u Nišu.

Lavie, D. (2006). The Competitive Advantage of Interconnected Firms: An Extension of the Resource-Based View. Academy of Management Review, 31(3), 638-658. Retrieved from

Lentjušenkova, O., & Inga, L. (2016). The Transformation of the Organization's Intellectual Capital: From Resource to Capital. Journal of Intellectual Capital, 17(4), 610-631. doi:10.1108/JIC-03-2016-0031

Leonard-Barton, D. (1992). Core Capabilities and Core Rigidities: A Paradox in Managing New Product Development. Strategic Management Journal, 13(S1), 111-125. doi:10.1002/smj.4250131009

Lerro, A., Linzalone, R., & Schiuma, G. (2014). Managing Intellectual Capital Dimensions for Organizational Value Creation. Journal of Intellectual Capital, 15(3), 350-361. doi:10.1108/JIC-05-2014-0063

Lev, B. (2001). Intangibles: Management, Measurement, and Reporting. Washington, DC: Brooking Institution Press.

Lin, C. Y.-Y. (2013). Intellectual Capital Explains a Country's Resilience to Financial Crisis: A Resource Based View. In P. O. de Pablos, R. Tennyson, & J. Yhao, Intellectual Capital Strategy Management for Knowledge-Based Organizations (pp. 52-75). Hershey: Business Science Reference (IGI Global).

Machlup, F. (1962). The Production and Distribution of Knowledge in the United States. Princeton, New Jersey: Princeton University Press.

Marr, B., & Moustaghfir, K. (2005). Defining Intellectual Capital: A Three-Dimensional Approach. Management Decision, 43(9), 1114-1128. doi:10.1108/00251740510626227

Miller, D., & Shamsie, J. (1996). The Resource-Based View of the Firm in Two Environments: The Hollywood Film Studios from 1936 to 1965. Academy of Management Journal, 39(3), 519-543.

Mouritsen, J., Bukh, P. N., Flagstad, K., Thorbjørnsen, S., Johansen, M. R., Kotnis, S., . . . Stakemann, B. (2003). Intellectual Capital Statements - The New Guideline. Copenhagen: Danish Ministry of Science, Technology and Innovation.

Naahapiet, J., & Ghoshal, S. (1998). Social Capital, Intellectual Capital, and the Organizational Advantage. Academy of Management Review, 23(2), 2242-2266. Retrieved from

Rastogi, P. N. (2003). The Nature and Role of IC: Rethinking the Process of Value Creation and Sustained. Journal of Intellectual Capital, 4(2), 227-248. doi:10.1108/14691930310472848

Ray, G., Barney, J. B., & Muhanna, W. A. (2004). Capabilities, Business Processes, and Competitive Advantage: Choosing the Dependent Variable in Empirical Tests of the Resource-Based View. Strategic Management Journal, 25(1), 23-37. doi:10.1002/smj.366

Roos, G., Pike, S., & Fernström, L. (2005). Managing Intellectual Capital in Practice. Burlington, MA: Elsevier Butterworth-Heinemann.

Sheehan, N. T., & Foss, N. J. (2007). Enhancing the Prescriptiveness of the Resource-Based View through Porterian Activity Analysis. Management Decision, 45(3), 450-461. doi:10.1108/00251740710745070

Steward, T. (1997). Intellectual Capital: The Wealth of Organizations. New York.

Sullivan, P. (2000). Value-Driven Intellectual Capital - How to Convert Intangible Corporate Assets into Market Value. New York: John Wiley.

Sveiby, K. E. (1997). The New Organizational Wealth – Managing & Measuring Knowledge-Based Assets. San Francisco: Berrett-Koehler Publishers, Inc.

Taylor, F. (1911). The Principles of Scientific Management. New York: Harper & Brothers.

Teece, D. J., Pisano, G., & Shuen, A. (1997). Dynamic Capabilities and Strategic Management. Strategic Management Journal, 18(7), 509-533. doi:10.1002/(SICI)1097-0266(199708)18:7<509::AID-SMJ882>3.0.CO;2-Z

Viedma Marti, J. M. (2001). ICBS - Intellectual Capital Benchmarking System. Journal of Intelectual Capital, 2(2), 148-164. doi:10.1108/14691930110385937

Wernerfelt, B. (1984). A Resource-Based View of the Firm. Strategic Management Journal, 5(2), 171-180. Retrieved from

Wiklund, J., & Shepherd, D. (2003). Knowledge-based Resources, Entrepreneurial Orientation, and the Performance of Small and Medium-sized Businesses. Strategic Management Journal, 24, 1307-1314. doi:10.1002/smj.360

Zajac, E. J., Kraatz, M. S., & Bresser, R. K. (2000). Modeling the Dynamics of Strategic Fit: A Normative Approach to Strategic Change. Strategic Manament Journal, 21(4), 429-453. doi:10.1002/(SICI)1097-0266(200004)21:4<429::AID-SMJ81>3.0.CO;2-#

Zott, C. (2003). Dynamic Capabilities and the Emergence of Intraindustry Differential Firm Performance: Insights from a Simulation Study. Strategic Management Journal, 24(2), 97-125. doi:10.1002/smj.288



  • There are currently no refbacks.

© University of Niš, Serbia
Creative Commons License CC BY-NC-ND
ISSN 0354-4699 (Print)
ISSN 2406-050X (Online)