ABSTRACT
The intellectual capital (IC) of a nation (or a region of nations) requires articulating a system of variables that uncover and manage their invisible wealth with an emphasis on human capital as current and potential future sources of intellectual wealth (Bontis 2004). The process of investment in IC is not merely the development of active economic policies but also the creation of social and political policies. However, it is difficult for a developing country to make those social policies by itself, and some forms of economic and political unions between countries could enhance the process. It has been argued that globalisation has little effect on uncovering the IC of firms in developing countries except within multinational firms (Hartungi 2006). The significance of policies of the state and capital and their influence on IC of firms have been demonstrated with firms in developing countries (Seleim et al. 2004). The differences in intellectual capital reporting (ICR) between firms in developed and developing countries have been attributed to macrolevel variables, such as the role of the state and capital with firms using IC statements for reporting in India (Ordonez de Pablos 2005).
