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1.
企业无形资产与未来业绩相关性研究 --基于中国资本市场的经验证据 总被引：18，自引：0，他引：18
本文采用实证研究方法，分析了我国上市公司中无形资产对企业经营业绩的贡献以及资本市场中上市公司披露的无形资产信息对投资者的有用性。研究结果表明，无形资产与企业未来的业绩有着显著的正向关系；无形资产信息具有价值相关性。 相似文献
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以无形资产为核心的价值创造系统 总被引：7，自引：0，他引：7
在知识经济时代,无形资产成为企业价值创造的主要驱动因素。本文以价值网络理论为基础,认为企业是由利益相关者的专用性投资形成的网络。价值网络包含了个体、组织、组织间和社会不同的网络层次,知识等资源在网络不同层次的积累沉淀形成了无形资产。无形资产的价值驱动要素通过网络各层次间的相互嵌入和价值交换而相互联系,形成了以无形资产为核心的企业价值创造系统。 相似文献
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探讨了高科技企业战略联盟模式、技术研发支出对企业绩效的影响,并以美国高科技公司为例进行实证分析。得出结论:当公司进行涉及股权的战略联盟行为时会降低企业无形资产的价值蓄积;企业进行非涉及股权的战略联盟行为时,长期而言会促进企业无形资产价值的蓄积等,为提高我国高科技企业经营绩效提供重要的依据和建议。 相似文献
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The positive impact of intangible assets on several measures of economic performance is well documented in the literature. Less clear is what initially leads firms to invest in intangible assets. The latter is particularly important because, at least for the Italian manufacturing sector, firms exhibit strong heterogeneity in their investments in intangible assets. In line with the capability-based theory of the firm, we argue that the firm's propensity to invest in intangible assets can be explained by factors that are internal and specific to the firm. Making use of a rich dataset, we test and provide support for our hypotheses. In particular, we find that the propensity to invest in intangible assets increases with the firm's size, human capital, and historical intangible asset base. This points towards the existence of a cumulative process of intangible asset accumulation, which may account for most of the heterogeneity observed in the data. The paper adds to the previous literature in two ways: first, it highlights the existence of strong intra-industry heterogeneity in intangible asset investments, and second, it offers an explanation for such heterogeneity. 相似文献
5.
Acquiring new knowledge: The role of retaining human capital in acquisitions of high-tech firms 总被引：1，自引：0，他引：1
Annette L. Ranft Michael D. Lord 《The Journal of High Technology Management Research》2000,11(2):295-319
Many acquisitions of high-tech firms are motivated by the acquirers' desire to enhance their strategic technological capabilities. However, these capabilities are likely to be embedded to a large degree in the tacit and socially complex knowledge of the acquired firms' individual and collective human capital. This presents a dilemma for acquirers because, unlike tangible or financial assets, the acquired firms' valuable human assets cannot be purchased or owned outright and they can leave the firm at any time. Retention therefore is likely to be of central importance during acquisition implementation in knowledge-intensive firms. Using data from a sample of acquisitions in high-technology industries, the results of this study confirm that retention of specific types of human capital is critical for determining the success of the acquirers' efforts to gain valuable new technological capabilities. Applying the theory of relative standing to predict post-acquisition retention, we find that autonomy, status, and commitment significantly affect retention, but economic incentives do not. We discuss and integrate these results in the context of knowledge-based views of the firm and the existing literature on acquisition implementation. 相似文献
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以2005—2007年连续披露R&D支出信息的107家中国上市公司为研究样本,基于Q值均一假设与Q值非均一假设两种情况分别建立计量模型对技术创新与企业价值的关系进行实证分析。研究发现：（1）中国上市公司R&D支出、无形资产对企业市场价值具有显著的正向影响效果;（2）在国内现有数据库条件下,专利作为技术创新的重要代理变量,虽然对企业价值存在影响,但不十分显著,存在一定的应用约束;（3）技术创新的企业价值增长作用未体现明显的行业差异性,高新技术企业并不具有显著的知识资产价值转化效率优势;（4）相较Q值均一假设模型而言,Q值非均一假设模型具有更高的拟合优度和解释力度,能更好地解释中国上市公司技术创新与企业价值之间的关系。 相似文献
7.
本文结合高科技企业的特点，全面梳理、系统总结了各类无形资产评价的方法及其应用条件，对相关方法作了对比研究，为国内高科技企业无形资产的评价提供了方法论上的参考借鉴,从而促进高科技企业强化无形资产管理意识，充分发挥无形资产的增值效用，建立企业的持久竞争优势，获得超额收益。 相似文献
8.
Knowledge assets have become relevant to every organization and society since they are the most valuable product and production means in the knowledge economy. But measuring intangible assets still remains a challenge. The emerging knowledge-based view is still far from being a widely accepted theory. Researchers in this field are faced with knowledge-based value dynamics, changing environments and uncertainty. Knowledge assets are embedded capabilities in individuals, organizations or societies. This research is focused on the design of artifacts that enhance Intelligence Capital. Intelligence, understood in a comprehensive manner, is a knowledge asset that leverages adaptive capabilities through information gathering, sense-making and adaptation. From this approach, developing Intelligence Capital means to increase adaptive capabilities to make better decisions supported on internal and external knowledge. The purpose of this research is to apply the Intelligence Capital framework to a Technology Development Centre at the Tecnologico de Monterrey. It is expected that through this intervention, Intelligence Capital capabilities of this Centre can be assessed and managed. This model is an innovating proposal that deals with Capital Systems, adaptive capabilities and complexity. 相似文献
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The management of intellectual capital (IC) resources increases organizational value creation capacities. The aim of this study is to present an algorithm for analysing IC management with an emphasis on the recognition and modelling of growth mechanisms for strategic resources. Intensive interactions among different tangible and intangible assets turn organizations into complex systems of highly interrelated resources; therefore, a systems approach is adopted, and a causal loop diagram is used to model resource interaction feedback structures. The development and analysis of the resource interactions model is explained through a practical algorithm that reveals different dimensions of resource deployment, including the potential value of resources, utilization of resources in key business processes, and mechanisms responsible for the sustained growth of strategic resources. The proposed algorithm was used to examine a telecommunication company. We show that there are no growth mechanisms for certain strategic resources. To activate the growth of such strategic resources, several feedback loops are recognized and related initiatives are proposed. 相似文献
10.
以价值管理为基础、以价值创造为核心、以价值最大化为目标正在被中国的企业家和管理者所接受,而在企业价值中不能被财务系统衡量的无形资产的价值又占了相当大的比重,因此研究如何化无形资产为有形成果显得至关重要,战略地图正是描述企业战略中无形资产的协调与运用的一种工具,本文主要是研究战略地图在企业价值创造中的应用. 相似文献
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收益法对无形资产价值评估的应用探析 总被引：2，自引：0，他引：2
在价值评估领域中，无形资产评估是一个难点，因为从无形资产所得来的收益比从有形资产所得来的收益的风险要大得多，未来收益很难预测。而收益法是运用货币时间价值的观念，将无形资产可能给企业带来的预期收益按折现率折算成现值的一种评估方法。合理预测其未来收益，是正确评估无形资产价值的关键所在。首先介绍了在收益法评估无形资产价值时所存在的两大难题一超额收益与折现率的确定，然后对解决应用难题的方法作了初步探讨。 相似文献
13.
Even though knowledge assets have been widely recognized as the principal drivers of firm's competitive advantage, few are the frameworks that have explained how these strategic assets are transformed into value and how the value creation process occurs. Also there is a confusing terminology in the literature surrounding many concepts explaining the dynamics of value creation. By conducting a Systematic Review – an evidence-based methodology for theory building – this paper seeks to define a ‘common language’ of the concepts used to explain this phenomenon, and build the assumptions of a theoretical model that explains how knowledge assets, through learning mechanisms, are linked, renewed, and leveraged into socio-technical processes or organizational routines, that in turn form the basis of organizational capabilities. As they are socially constructed, these organizational capabilities, when leveraged into products and services, generate value and provide firms with a sustainable competitive advantage and long-term superior performance. The model should therefore serve as a theoretical contribution to the literature and it has a further potential benefit to begin an inquiry, for both theory building and management, about the nature of firm's knowledge assets and organizational capabilities, and the sources of sustainable competitive advantage. Some of these avenues are outlined in this paper. 相似文献
14.
对高科技企业的股权集中度与绩效之间的关系做实证研究,结果表明:高科技企业的股权集中度对公司绩效的影响不同于传统企业,作为人力资本和无形资产密集的高科技企业,股权集中程度越高,公司绩效越低,而传统企业股权集中程度的提高对公司绩效具有正向的影响。 相似文献
15.
高等院校的无形资产从认识到管理制度等都存在不同程度的缺陷,流失严重,高校失去大量的无形资产再创造价值的机会,这是国有资产流失的一种现象,应引起政府、高校等的重视,采取切实措施,保护高校无形资产的完整性。 相似文献
16.
数字经济背景下,人工智能（AI）技术的应用正在深入地影响着企业管理变革、业务边界的扩展和管理模式的改变。结合互补资产的观点和组织学习理论,本文提出了一个基于AI应用能力和AI管理能力的分析框架,强调人工智能与人类智慧结合的必要性,阐述了两种能力的功能和作用及其协同对企业效率和创新成本的影响。本文提出,企业必须具备管理AI的能力才能有效应对大数据、数字技术、AI的不断革新及技术带来的组织内部结构和外部环境变化以及风险;企业AI应用与管理能力的有效结合,有利于控制AI应用带来的成本和风险,增强企业在人工人力、协调沟通、和数据搜寻方面的效率,同时降低AI应用带来的数字基建、道德情感、数据安全、组织结构变革方面的成本,进而促进企业的组织学习、对内外部数字技术使能资源的获取和管理以及互补资产的形成,对企业创新绩效发挥正向作用。最后,本文为企业的数字化创新战略提供了新的发展思路。 相似文献
17.
从500强企业看中国企业国际化进程 总被引：1，自引：0，他引：1
本文从国际化进程理论出发,运用内容分析法对中国企业的国际化行为与路径选择作了一次探索性研究。研究结果发现,获取资源与市场是中国企业初期进行国际化的主要动因,而获取战略资产与效率是企业后期国际化的主要驱动力;渐进式国际化进程理论对"市场寻求型"、"资源寻求型"、"效率获取型"与"战略资产获取型"四类跨国经营企业的解释力是逐渐递减的;中国企业选择海外市场的次序遵循心理距离由近到远的原则;渐进式国际化进程理论对中等规模的跨国经营企业有较强的解释力,而对于大型与小型的国际化企业解释力较弱,即中国环境下大型与小型企业走跳跃式国际化路径的可能性比中型企业大。基于上述研究结果,本文提出了研究推论并为政府与企业提出了相关建议。 相似文献
18.
《Research Policy》2021,50(10):104346
We evaluate the effect of a pan-European innovation funding program on firm growth and innovative output. Using a difference-in-differences estimation on a sample of matched firms, we find that subsidized firms are able to invest more in tangible and intangible assets, achieve higher growth of turnover and employment, and file more patent applications. We then analyze the dynamic treatment effect and find that the effects of subsidization tend to get stronger over time. Moreover, our findings indicate that the effect of subsidization is highly heterogeneous across sectors with different R&D or knowledge intensity and level of competition. Finally, we explore some economic channels to explain how subsidies generate strong effects on firm performance. We show that subsidized firms are able to generate more internal financing and attract more long-term borrowing after receiving the subsidy, yet we find no evidence that subsidized firms are able to attract more external equity financing than similar unsubsidized firms. 相似文献
19.
动态能力理论：源起、评述与研究展望 总被引：2，自引：0，他引：2
在对战略管理理论发展历程简要回顾的基础上,通过对现有资源观研究的评估和梳理,确定了动态能力需要解决的关键问题。澄清了动态能力的概念,并识别了反映企业间动态能力共同特性的三个成份因子。构建了一个包括动态能力前因、过程和结果的整合框架的研究模型,总结了三个命题。最后讨论了相关的管理启示。 相似文献
20.
新一代信息技术革命推动下,数字技术正以前所未有的广度和深度嵌入到产品与服务中。本文基于数字化、网络化、智能化等企业创新生态系统新情境,利用2007—2017年中国制造业上市公司数据系统考察数字技术应用如何影响企业创新。研究表明：智慧城市建设有助于促进数字技术在制造业领域的应用,显著地提高了企业创新;“机器联物换人”融合模式的研发投入显著增加而创新产出没有显著增加,智能制造领域的数字技术应用创新有较长的周期性;“群体信息交互”协同模式的研发投入和创新产出都显著为正,数字技术推动了产品创新与商业模式创新的繁荣。此外,国有企业与大中型企业具有数字资源的优势,数字技术应用创新的表现更为突出。 相似文献