Intellectual capital reporting in Spain: a comparative view

Abstract

In the knowledge economy, caracterized by complex and dynamic competitive environments, knowledge‐based resources represent the true source of sustained competitive advantage for the firm. However, most of these intangible resources are not reported on the traditional annual report. As “what is measured is managed”, firms increasingly need to measure and report these resources. Thus, the intellectual capital report offers a holistic view of the organization's roots of value. There are three main parts to this paper. First, the growing importance of organizational knowledge‐based resources is addressed. Second, a concise review of the most significant on intellectual capital is summarized. Third, an image is shown of what Spanish firms are doing in terms of knowledge management and intellectual capital measuring and reporting. This situation is compared with intellectual capital reports of firms from Asia, the Middle East and other European countries.