INTELLECTUAL CAPITAL INVESTMENTS AS THE DRIVER OF FUTURE COMPANY PERFORMANCE

Considering the twentieth century as a century of ideas, knowledge, innovations, information and changes, intellectual capital has been an interesting topic during the past few decades. Namely, intellectual capital is one of the most important company’s strategic resource, which enables creating and sustaining competitive advantage. As yet, there is no unique approach in defining intellectual capital investments. The definition of intellectual capital investments depends on the main aim of study or practical implementation. Thus, the purpose of this paper is to analyse the different concepts of the intellectual capital investments in order to clarify the understanding of these investments either as company’s additional expenditures or as investments that will generate future economic benefits. The analysis will enable drawing a conclusion whether intellectual capital investments are appreciated in the company’s accounts as expenses or investments.