Knowledge-Based Economy – Key Issues in the Intellectual Capital Measurement by Example of Two Hungarian Stock Exchange Companies

In their article, the authors emphasize the importance of measuring intellectual capital. The difference between the company's market and book value is intellectual capital, which has been present within knowledge-based society for decades. A number of economists have made suggestions related to its measurement; however, no unified standpoint has been developed. Therefore, currently its value does not appear in financial statements. The reason for this is the fact that while the recorded book value of enterprises is tangible, the value of intellectual capital is difficult to quantify, it is a so-called hidden value. In the scope of their study, the authors discuss the relevance of measuring intellectual capital by describing their results provided by Baruch Lev's knowledge capital valuation.