Corporate Reputation - an Input or an Output of Intellectual Capital?

The growing importance of knowledge as an organizational resource is considered to be generated by the shift from the industrial economy to the knowledge based one. But market competition had always had an intangible dimension due to the fact that every company tries to gain competitive advantages and to become the best in its field. Some researchers focused on analyzing the relationship between knowledge and competitiveness while others concentrated on determining the dimensions of corporate reputation (CR). Still, CR involves creating, disseminating and using knowledge; it reflects the image of a company, based on stakeholder's experiences, and it influences its market-value and its ability to attract and retain talented people. Some attempts have been made in order to link CR and intellectual capital (IC) but the focus was mainly on the characteristics of the second concept. As a result, the first one was described as a component of relational capital. But CR means more than just a reflection of firm's relationships with its stakeholders. It involves the development of employees' competencies, skills and abilities (defined as human capital) and an efficient use of routines, processes and technology (described as structural capital). Based on these assumptions, we aim to analyze the relationships between CR and IC. As a starting point, we use the results generated by the Competitiveness Intellectual Capital Index (CICI) for the Romanian companies listed on the Bucharest Stock Exchange (BSE). We develop a case study strategy and we discuss the possible links between CR and each IC component in the cases of the two best Romanian firms, according to CICIs value during 2009-2012. The research findings have both theoretical and managerial implications. At the theoretical level, we emphasize the relationships between CR and IC and we highlight the mediating role of the organizational values. At the practical level, we offer a direction for decision makers. They may increase their CR and IC performance if they support values like responsibility, communication, cooperation, collaboration and self-confidence.