EUROPEAN COMMISSION
Reporting Intellectual Capital toAugment Research, Development andInnovation in SMEs
Report to the Commission of the High Level Expert Groupon RICARDIS
Encourage corporate measuring and reporting on research and otherforms of intellectual capitalJune 2006
Directorate-General for ResearchSupport for the coherent development of policiesSpecific Programme: ‘Integrating and Strengthening the European Research Area’
2006 EUR 22095 EN
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RICARDIS C
ONTENTS
5
Table of Contents
Preface............................................................................................................7
Executive Summary.......................................................................................9
Introduction 9
Intellectual Capital is the hidden driver 9
Intellectual Capital is the result of, and the prerequisite for, successful R&D 10
Barriers for investing in R&D 10
The contribution of IC Reporting 11
Existing regulations and guidelines 12
Differences in the adoption of IC Reporting 13
Policy options to stimulate IC Reporting 13
1.
Introduction...........................................................................................17
1.1
Background 17
1.2
Objectives of RICARDIS 21
1.3
Scope of RICARDIS 21
1.4
Working Method of RICARDIS 25
1.5
Structure of the report 26
2.
Linking IC Reporting to R&D...............................................................27
2.1
The role of R&D in SMEs in the EU 27
2.2
The role of R&D and Intellectual Capital in value creation 31
2.3
Barriers to R&D investment 38
2.4
Finance and Investment for Intellectual Capital 42
2.5
The contribution of improved IC Reporting 47
2.6
Relationship with other Management Tools 54
3.
Current IC Reporting Practices...........................................................57
3.1
Existing Regulations on IC Reporting and their Development 57
3.2
Survey on existing IC Reporting methods and guidelines for research-intensive companies 62
3.3
Differences in the Adoption of IC Reporting 73
3.4
IC Reporting in Research & Technology Organizations 77
4.
Guidance for IC Reporting...................................................................81
4.1
Attracting External Finance 81
4.2
Investing in innovation – Investment Readiness 82
4.3
Five dimensions in preparing an IC Statement 84
5.
Policy Recommendations....................................................................97
5.1
Establish a European Adoption Task Force 101
5.2
Produce a practical guide on IC Reporting 107
5.3
Use IC Reporting as an important criteria for public support for research-intensive SMEs 107
5.4
Apply IC Reporting as a tool for government agencies, Higher Educationand Research Organisations 108
5.5
Commence further research on IC Reporting 109
5.6
Set up a Standardization Steering Group for IC Reporting 110
5.7
Encourage the Banks to develop new forms of finance 114
Appendix A.
High Level Expert Group..................................................117
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5.2 Produce a practical guide on IC Reporting for Reporting Intellectual Capital to Augment Research, Development and Innovation in SMEs
This report has been produced by an expert group, set up by the Directorate General for Research of the European Commission(EC).
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