Martina Mateášová

Intellectual capital is the total value of all entity’s intangible resources (organizational, human, and customer). Effective management of intellectual capital in high-tech industries needs determination of its role in ensuring profitability and clarifying the direction of managerial and investment policy in intangible resources. The aim of this study is to investigate the impact of intellectual capital on the profitability of Slovak software development companies. Panel data regression analysis was used as the main research method to analyze the data of 16 Slovak software development companies for 2015–2019. The study designed and analyzed four panel data regression models with different dependent variables (Return on Assets, Net Profit Margin, Gross Profit Margin, Earnings Before Interest and Taxes Margin) and similar independent variables (Capitalized Development Costs, Software, Acquired Intangible Fixed Assets, Personnel Costs, Social Security Costs, Social Costs, and Total Costs of Economic Activity). The analysis of these models was carried out based on the fixed effects method. It was found that intellectual capital reflected in the financial statements of software development companies does not meet the information needs of stakeholders and does not have a significant direct impact on profitability. Only Acquired Intangible Fixed Assets had a direct positive impact on the profitability of software development companies in all four analyzed models, and some independent variables had a negative impact. It is proposed to expand the structure of financial reporting items that characterize the intellectual capital and improve the method of recognizing costs of various types as intangibles.

In order to set economic policy goals, it is important to understand the difference between adult education and lifelong learning, and how much research on SDG 4 combines lifelong learning and economic policy. The purpose of the article is to determine the main directions for justifying the lifelong learning system development, including for achieving sustainable development goal 4 (SDG 4). Based on scientific research data from the Scopus database using the VOSviewer software, this article analyzed the theoretical foundations for substantiating the temporal and geographical interrelationships of the categorical-conceptual system of such terms as “SDG 4”, “adult education”, “lifelong learning” and “economic”. This made it possible to identify the main trends in scientific research and cluster directions of international research on the relationship between adult education, lifelong learning and economic policy. The following trends were obtained: adult education as a driver of economic development; as a social phenomenon and as a source of innovation. The following clusters were identified: adult education as a part of life-long education; adult education under the influence of physical and age-related changes; adult education as part of professional education; the learning process, which is not related to professional activity. As a result of the analysis, an insufficient level of attention among scientific studies devoted to adult education within the framework of SDG 4 was revealed. The article confirmed the need for economic policy to support the lifelong learning system, as well as the difference between the concepts of adult education and lifelong learning.

Acknowledgment
The educational outcomes in this publication were created with the support of the EU Erasmus+ program within the framework of projects ERASMUS-JMO-2021-HEI-TCH-RSCH-101048055 – «AICE – With Academic integrity to EU values: step by step to common Europe» and ERASMUS-JMO-2022-HEI-TCH-RSCH-101085198«OSEE – Open Science and Education in Europe: success stories for Ukrainian academia». This study was funded by the grant from the Ministry of Education and Science of Ukraine “Modelling educational transformations in wartime to preserve the intellectual capital and innovative potential of Ukraine” (registration number 0123U100114). “Convergence of economic and educational transformations in the digital society: modeling of the impact on regional and national security” (state registration number 0121U109553).