Financial and Non-Financial Reporting – an Attempt to Correlation Between Selected Chosen Variables

Marta PODOBIŃSKA-STANIEC; Robert RANOSZ

doi:10.29227/IM-2019-01-49

Marta PODOBIŃSKA-STANIEC Ph.D., Eng.; AGH University of Science and Technology
Robert RANOSZ Ph.D., DSc, Eng. ; AGH University of Science and Technology;

DOI: https://doi.org/10.29227/IM-2019-01-49

Keywords: intellectual capital, financial reporting, correlation

Abstract

This paper describes a study designed to find correlations between intellectual capital efficiency, measured using the Value Added
Intellectual Coefficient (VAIC), and selected components of reports submitted by KGHM Polska Miedź S.A., a Polish mining company.
The study examined such components as the company’s intangible assets, number of jobs/FTEs (Full-time equivalent) and
the net financial result. The timeframe explored here is the period between 2004 and 2018 (the last 14 years). We assumed that
intellectual capital efficiency should be correlated with intangible assets, which are part of fixed assets, but the results of our study
proved otherwise. Our analysis demonstrated that intellectual capital efficiency was correlated the strongest with the company’s
financial performance.