Tiltai

on how we define our goals, strategies and values at a professional level, and also in everyday life. The ecosystems of innovation and

economic development are related to human resources. In that case, some simple questions arise: What? How? Why? But the answer

is never too simple. While changes are small and do not interrupt our everyday life, it is simple to overcome; but there are changes

that immediately have a big impact on people’s lives. And the Covid-19 pandemic is that kind of change. A Smart Specialisation Strategy

defines the prospects for economic development for each region. It is necessary to develop and implement strategic plans and policies for

development at a regional and national level, and include social capital, cooperation and innovation. And there are usually some companies

that lose and some companies that win, due to the different types of crisis and unexpected conditions. The aim of this paper is to analyse

how the dynamic environment impacts on regional development and entrepreneurship during the Covid-19 pandemic crisis. The aim

of this paper is to study possible changes and solutions in different industries at a regional level, and develop recommendations The

materials and methods used are monographic method (literature studies), statistical data, and the analysis of a survey of companies in

the region in order to analyse the transformation process of the regional economic environment. Conclusions: cooperation, innovation

and local entrepreneurship at a regional level have an important impact on economic development at a national level.

Elaborating on the analysis of a company’s statements, as audited and public data, a thorough analysis of companies’ IC and its components has been undertaken, improving the methodology of the evaluation of the impact. This article contributes to the development of intellectual capital theory, value-based management theory, and resource-view theory.

In the paper, the author proves the hypothesis on the impact of intellectual components on the growth rate of Nasdaq Baltic issuers in the period 2012 to 2019, extending the composite model with intellectual capital variables identified in the research, by adding normalisation proxies, longitudinal analysis and a number of moderate and control variables. The author’s proposed analysis also demonstrates the use of theoretical methods at the Baltic level, and new aspects and unique results at an international level. The study reveals a significant and positive relationship between intellectual capital efficiency, its components, and the growth rate of the companies, identifying dominating significant constituents of intellectual capital in Nasdaq Baltic companies.