智力资本互联网信息披露、分析师跟踪与企业价值  

Intellectual Capital Internet Information Disclosure,Analysts Following and Firm Value

作　　者：蒋艳辉[1] 李林纯 

机构地区：[1]湖南大学工商管理学院,长沙410079

出　　处：《商业研究》2014年第7期80-86,共7页Commercial Research

基　　金：国家自然科学基金项目;项目编号:71201052;湖南省博士后科研资助专项计划项目;项目编号:2013RS4052;湖南省风险导向审计研究基地项目;项目编号:12K021

摘　　要：基于智力资本互联网信息披露对分析师跟踪、企业价值影响的理论分析,本文采用中介变量检验方法,实证考察了主板A股高新技术企业智力资本互联网信息披露、分析师跟踪与企业价值的关系,发现上市公司智力资本互联网信息披露水平越高,企业价值越大;分析师跟踪在智力资本互联网信息披露与企业价值的关系中发挥部分中介作用,证券分析师作为信息中介对企业价值产生影响,企业网站已成为智力资本信息的重要披露途径。Based on analyzing the influence of intellectual capital information disclosure on analysts following and enterprise value, using intermediary variable testing method, this paper makes an empirical study on the relationship among the intellectual capital information disclosure, analysts following and firm value for motherboard A - share market high - tech firms. The results of our study indicate that, intellectual capital Intemet information disclosure level and enterprise value is significantly positively correlated; analysts following plays a partial mediation variables role in intellectual capital Internet information disclosure and firm value, as an information intermediary, securities analysts impact on enterprise value, and enterprise web site has become an important way to disclosure intellectual capital information.

关 键 词：智力资本信息披露 分析师跟踪 企业价值 中介变量 

分 类 号：F810[经济管理—财政学]