INTANGIBLE ASSETS AND FINANCIAL PERFORMANCE OF RUSSIAN COMPANIES LISTED IN MOSCOW STOCK EXCHANGE

One of the central problems of the global economy is the issue of attracting investment into different sectors of a national economy. The presence of intellectual capital among an enterprise's assets is a substantial factor in attracting investment. This article researches how the size of an enterprise's total stock revenue depends on intellectual capital's share in the structure of the company's assets. The model was based on data collected from the accounts of 41 public Russian companies, all of them part of the Moscow exchange. In this study, we operated on the assumption that the presence of intellectual capital would have a positive effect on the financial results of Russian companies; however, in the early stages of our research, we could not find a linear relationship between intellectual capital and financial results. Only deeper and more detailed analysis, based on non-linear regression models, led us to evidence supporting the positive correlation.