智力资本驱动企业价值创造的有效性研究——基于智力资本综合评价视角  

The Effectiveness Study of Intellectual Capital in Driving Business Value-creation——Based on the Comprehensive Appraisal of Intellectual Capital

作　　者：刘玉平[1] 赵兴莉[1,2] 

机构地区：[1]中央财经大学财政学院,北京100081 [2]山东工商学院会计学院,烟台264005

出　　处：《中央财经大学学报》2013年第1期41-46,91,共7页Journal of Central University of Finance & Economics

摘　　要：智力资本作为企业的战略性资产能够维持企业的持续竞争力及创造较高的企业价值。本文以我国医药制造业上市公司为例,使用15个指标从人力资本、创新资本、流程资本和顾客资本四个维度研究智力资本,使用主成分分析法对企业智力资本价值进行综合评价,以此为基础研究智力资本驱动企业价值创造的有效性。研究结果显示,智力资本正向影响企业价值创造,同时智力资本对企业价值创造的驱动效果大于物质资本;但是,智力资本驱动企业价值创造的作用没有充分被市场认识。Intellectual capital is a firm＇s strategic resource and can create great value to the company, so it is necessary to study the relationship between the intellectual capital and finn＇s value -creation. This paper devel- ops 15 indexes to represent the intellectual capital of a company and use the principal component analysis to ap- praisal the intellectual capital. This paper chooses 64 listed companies of pharmaceutical manufacturing industry to study whether the intellectual capital has an influence the valuation - creation of a firm. The results tell us intellec- tual capital can promote a company＇s value - creation, and the influence is significant. But the market didn＇t real- ize this impact, so we should disclosure the information of a company＇s intellectual capital in detail.

关 键 词：智力资本 企业价值 价值创造 

分 类 号：F270.7[经济管理—企业管理]