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This paper recognises the move towards making the disclosure of data concerning intangible resources a requirement. It sets down requirements for intellectual capital measurement systems that can be safely used by companies in disclosures and which are transparent and easily used by others. The paper argues that if rigour and safety comparable with ordinary financial disclosures is to be attained then only the rigour of measurement theory applied to intangible resources will suffice. Some existing methodologies are evaluated against the axioms of measurement theory. None evaluated so far are compliant.

The article explores opportunities for the sustainable economic development of coastal territories in the Baltic Sea region (BSR) arising in blue economy sectors in the framework of digital transformation. The study argues that a more active commercialisation of territorial resources can facilitate the sustainable economic development of the BSR coastal territories, following digitally-driven innovations. The paper provides an overview of methodological approaches to territorial sustainability. It also assesses the 2009-2018 level of the socio-economic development of the BSR coastal territories, underpins the importance of the blue economy and highlights the role of digital transformation in reaching the UN Sustainable Development Goals (SDGs) in the BSR through digitally-driven innovations. A comparative and problem-targeted statistics analyses show significant differences in the level and dynamics of socio-economic development in the BSR coastal territories with their GRP per capita being generally lower than the national or macroregional average. A review of literature on sustainable development in the BSR has shown that a more active use of unique resources of the coastal territories along with a technology-driven growth of blue economy sectors can counterbalance the negative impact of the territories' uneven development on the progress towards the SDGs in the BSR. Increasing the competitiveness of the BSR coastal territories requires investment in digital solutions in the blue economy sectors and the creation of a communication infrastructure. The review of key innovations in the blue economy sectors shows that their implementation gives impetus to other industries by reducing costs, creating new jobs, and improving the quality of products and services.

PurposeThe purpose of this paper is to demonstrate how the ICS intellectual capital methodology was developed starting from the underpinning academic theory.Design/methodology/approachThe approach is founded upon a number of theoretical strands. The basic intellectual capital approach is based on a development of the resource based theory of the firm. Most intellectual capital approaches have problems with meaningful measurement. ICS addresses the valuation of intellectual capital resources by using axiology and multi‐attribute value theory to produce a valuation framework and measurement theory to ensure that the results are reliable.FindingsThe ICS intellectual capital approach generates navigators (maps) of how resources are used in companies which have proven to be very useful. It has also demonstrated the value of deeper analysis of the intellectual capital resources. The measurement part, which is often used independently (known as the Conjoint Value Hierarchy (CVH), is shown as a powerful aid to decision making as well as to more straightforward valuation.Research limitations/implicationsThe limitations are that the navigator and its associated analyses are non‐rigorous while the CVH is rigorous, transparent and auditable. This mismatch can lead to problem and the challenge is to integrate them.Originality/valueWhile parts have been reported previously, this paper is the first integrated review of ICS' methodology.

The second author is involved in a capture–mark–recapture study of some wader species. Part of his program deals with resight observations. On a particular day he visually inspects a fairly stable population to identify the ringed birds by reading their ring‐number. Some ringed birds will be missed, so observations are repeated on other days. The issue of main interest is whether, after some repetitions, we can be sufficiently sure that all the ringed birds in the population have been identified or, equivalently, that the frequency of unseen birds is zero.Most current theory is concerned with an asymptotic setting. In our 'exact' context the emphasis is on the determination of the 'probability' that the frequency of unseen birds is zero. This issue is settled by considering the more general problem of 'estimating' the frequency of the unseen birds by providing a predictive inference in the form of a probability distribution. We develop methods of inference based on the assumption of a bird‐independent probability pi of identifying a ringed bird on day i, as well as without this assumption. In Section 5 we critically examine these approaches.

PurposeThe purpose of this paper is to describe the logic and processes for identifying, measuring and managing intellectual capital resources along side traditional economic resources to achieve sustainable outcomes valued by investors.Design/methodology/approachThe approach is founded on classical finance theory and draws on and multi‐attribute value theory, system dynamics and the strands of thought known as intellectual capital in order to produce a grounded framework that both produces reliable results as well as achieves acceptance in the financial community.FindingsThe findings from this approach, the FVMT Methodology, provide a comprehensive management framework that is agnostic as to the form of resources being utilized and the activities that are involved in the transformation of one resource form into another on the way to achieving sustainable outcomes valued by investors.Research limitations/implicationsWhilst the approach has proven to work well the limitations are that it requires both effort and access to market makers.Practical implicationsThe implications is that for the first time an approach is now available that provides the same rigor for managing the future value component of a firm's share price as there already exist for managing the current value component of the firm's share price. This means that managers can both reduce the volatility surrounding their share price as well as predict the value outcomes of a given set of actions.Originality/valueThe authors believe that this is the first presentation of a methodology grounded in classical finance theory for the managing of the future value component of a firm's share price.