... and the system generalised method of moments. We also include country-specific dummies in place of our variable on national innovative capacity as a means to further reduce the number of instruments. Findings The results reveal a long-term relationship of investment in intangible assets with labour...

... only Intellectual capital Intangible assets Value of firm Methods of intellectual capital valuation Corporate finance G32 O16 O34 Intangibles are in the center of a production process and play a much bigger role than traditional factors of production in modern economies...