Empirical Evidence for the Increasing Importance of Intellectual Capital Reporting in Higher Education Institutions
Yolanda Ramírez Córcoles, JeanVanderdonckt

Abstract
The purpose of this paper is to know the opinion of the university stakeholders regarding the importance they give to completing the information from university financial statements with information relating to these institutions’ intellectual capital. To this end, a questionnaire was designed and sent to every member of the Social Councils of Spanish public universities. It was thought that these participants would provide a good example of the attitude of university stakeholders since they represent the different social groups connected with universities.The results of our empirical study allow us to criticize the current accounting information model of Spanish higher education institutions and to recommend extending the limits of universities’ annual accounts so as to include the information on intellectual capital demanded by the different stakeholders. Finally, this empirical study identifies which of components of intellectual capital (human, structural and relation) is the most relevant for publication.

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