Modern companies work in the conditions of so called New economy, where the knowledge becomes the basic economic resource. Traditional resources as land, capital and labour are determined by diminishing returns; knowledge instead is connected with increasing returns. Knowledge that can be used...

The purpose of this article is a fundamental re-evaluation of the method of VAICTM, which is very often used by researchers around the world, often in major studies assessing the value added produced mainly in the banking sector and in listed companies. It is questionable whether this method...