20.500.12556/DKUM-70319 The relationship between the intellectual capital disclosure and cost of debt capital a case of Slovenian private audited organisations Povezanost razkritij o intelektualnem kapitalu in cene dolgov primer slovenskih privatnih revidiranih organizacij The existing empirical research into the association between intellectual capital disclosures by organisations and the cost of debt is scarce or is based solely on the samples of the (large) listed organisations. Since agency issues between management/owners and lenders exist also in (large) private organisations whose financing is greatly dependent on loans and whose audited annual reports can be a source of additional information for external users, we performed an empirical research to find the answer to the question whether the level of intellectual capital disclosure (as a whole and of its sub-categories) of organisations is associated with the cost of their debt capital. Our study was performed on a sample of private Slovenian organisations with audited annual reports. The results of our research did not reveal that lenders would take into account intellectual capital disclosures by Slovenian private audited organisations as the information about the potential for their future cash flows when deciding on the cost of debt issued to these organisations. Dosedanje empirične raziskave, ki so preverjale povezave med razkritji o intelektualnem kapitalu organizacij in ceno njihovih dolgov, so zelo redke oziroma so izvedene izključno na vzorcu (velikih) organizacij, ki kotirajo na borzi. Ker lahko agencijski problem obstaja med poslovodstvom/lastniki in posojilodajalci tudi v takšnih (večjih) privatnih organizacijah, katerih financiranje je v veliki meri odvisno od posojil in katerih revidirana letna poročila lahko predstavljajo vir dodatnih informacij za zunanje uporabnike, smo s predmetno empirično raziskavo iskali odgovor na vprašanje, ali je stopnja razkritij o intelektualnem kapitalu ter njegovih sestavinah povezana s ceno dolgov, na primeru vzorca privatnih slovenskih organizacij z revidiranimi letnimi poročili. Rezultati raziskave niso pokazali, da bi posojilodajalci pri določanju cene dolgov slovenskim privatnim revidiranim organizacijam upoštevali razkritja o njihovem intelektualnem kapitalu kot informacijo o potencialu za njihove bodoče denarne tokove. intellectual capital intellectual capital disclosure intellectual capital disclosure level cost of debt private organisations content analysis gospodarstvo podjetništvo intelektualni kapital revidiranje intelektualni kapital razkritja o intelektualnem kapitalu stopnja razkritja intelektualnega kapitala cena dolgov privatne organizacije analiza vsebine true false true Angleški jezik Slovenski jezik Znanstveno delo 2018-05-03 11:29:07 2018-05-03 11:30:19 2022-08-01 19:11:09 2019-07-11 18:03:06 2017 0 0 str. 3-16 št. 4 Letn. 63 2017 0000-00-00 Zaloznikova Objavljeno NiDoloceno 0000-00-00 0000-00-00 0000-00-00 0547-3101 005.336.4:159.953/.955:33.067 751364 12962076 10.1515/ngoe-2017-0019 0547-3101 URN:SI:UM:DK:NK8CXSXC Nase_gospodarstvoOur_economy_2017_Stropnik,_Korosec,_Tominc_The_Relationship_Between_the_Intellectual_Capital_Disclosure_and_Cost_of_Deb.pdf Nase_gospodarstvoOur_economy_2017_Stropnik,_Korosec,_Tominc_The_Relationship_Between_the_Intellectual_Capital_Disclosure_and_Cost_of_Deb.pdf 1 CCC4FA0B7C445F0C113D90281E3A5C85 d7a2a59c8fe38a4491e3cc63d23b161519ec725bcbb3ff3bafaac58255d5722d eb883654-7c0f-11eb-bb7a-00155d0001ca 20.500.12556/dkum/9933e770-3fb5-4e3b-9e6d-e4c3c7c9fae4 https://dk.um.si/Dokument.php?lang=slv&id=124256 http://www.degruyter.com/view/j/ngoe.2017.63.issue-4/ngoe-2017-0019/ngoe-2017-0019.xml 1 https://dk.um.si/Dokument.php?lang=slv&id=124255 Ekonomsko-poslovna fakulteta Naše gospodarstvo 0 0 0