Intellectual capital in education

Schools, and especially universities, are currently undergoing major challenges as their role in society constantly changes. From a teaching perspective, the internet and online technologies have seen the introduction of massive online offered courses (MOOCS) and the opportunity for students to choose between online, distance, and mixed-modes of education. These changes are disrupting the foundations of traditional schools that must now compete with public and private online offerings that challenge face-to-face classroom teaching. Similarly, professional accreditations, such as the Microsoft Certification, are important qualifications that go beyond traditional education. Higher education is no longer the remit of a privileged social class. University and professional education are becoming more available, and online platforms can reach students worldwide. However, as higher education spreads, it no longer guarantees a job but has become a minimum requirement for one. These changes are coupled with an inrush of students to established schools and universities in Australia, the USA, UK, and the EU from developing nations, such as China and India. The flood is changing the higher education landscape in these countries, transforming university education into a major export industry. However, exporting education does not guarantee a continuing income stream for these countries. Universities in developing nations are improving their courses and moving up the ranking tables. Thus, tomorrow’s universities will be far different than what they are today. The influx of foreign students is also creating a reliance on income from foreign students to fund universities. For example, in Australia in 2016 there were more than half a million foreign students contributing about AUS$12 billion to the education sector, and more than AUS$19.7 billion to the economy. This student income is necessary due to cuts in education funding. As a result, universities are becoming more entrepreneurial and are developing courses to attract and retain foreign students. However, the uncertainty of the income stream also results in increased use of adjunct staff, which puts pressure on existing human capital in teaching and in achieving high-quality research outcomes. Since the beginning of the IC movement, universities are the subject of research, investigating issues such as intellectual property (Fine and Castagnera, 2003), management (Sánchez and Elena, 2006), research and development (Castellanos et al., 2004), and reporting (Sánchez et al., 2009; Low et al., 2015). These approaches are what Petty and Guthrie (2000) identify as second-stage IC research. However, more recently, research has focussed on IC practice, or third-stage IC research (Guthrie et al., 2012) inside universities (Vincenza et al., 2013; Secundo et al., 2015; Vagnoni and Oppi, 2015). Additionally, research at the cutting edge is examining the third mission of universities from the perspective of technology transfer and innovation, continuing education, and social engagement (Secundo et al., 2016, p. 299). The latter is in line with Dumay and Garanina’s (2013, p. 21) fourth stage of IC research which helps “navigate the knowledge created by countries, cities and communities and advocates how knowledge can be widely developed thus switching from a managerial to an ecosystem focus”. The transition from traditional academia to an enhanced third-mission role is crucial for transforming universities and higher education providers as they continue to consolidate their position as critical players in socio-economic development and regional growth (Foray et al., 2012; Kempton et al., 2013). Because of the interest in IC and educational institutions and their dynamic operating environment, new opportunities for future research are emerging (Guthrie and Dumay, 2015). This special issue is an outlet for that research. In this special issue, we present a variety of international studies at the forefront of IC in education research. In the following paragraphs, we highlight the themes represented in the papers. To conclude, we offer our views on the overall contribution of this special issue and highlight the research that still needs to be done.