| 我国上市公司智力资本转化过程影响因素实证研究 |
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| 引用本文： | 张德茗,刘思敏.我国上市公司智力资本转化过程影响因素实证研究[J].科技管理研究,2014(20). |
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| 作者姓名： | 张德茗 刘思敏 |
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| 作者单位： | 中南大学商学院,湖南长沙,410083 |
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| 摘 要： | 借鉴ICTEM模型构建企业智力资本转化体系。为获取智力资本转化与企业价值之间的关系,构建对智力资本"投入—转化—产出"过程的指标测评,并采用国内475家上市公司4年的面板数据探讨影响智力资本转化的因素。研究表明,智力资本分别通过直接和间接的方式转化为企业价值,单纯的智力资本投入不经过有效的管理无法转化为企业价值;智力资本转化过程中创造的价值并不在于数量上收益的提高,而在于企业利润和价值有效率的增长;在智力资本由"投入"向"产出"的转化过程中,员工薪酬、领导者资质、研发投入、专利、营业额、企业规模与年龄等因素都将影响到企业价值创造,尤其是人力资本与结构资本的投入与企业价值增长显著正相关。
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| 关 键 词： | 智力资本转化 投入 产出 EVA |
| 收稿时间： | 2014/3/12 0:00:00 |
| 修稿时间： | 2014/9/16 0:00:00 |
Empirical Study of Influencing Factors in Intellectual Capital Transformation in Chinese Listed Companies |
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| ZHANG Deming,LIU Simin.Empirical Study of Influencing Factors in Intellectual Capital Transformation in Chinese Listed Companies[J].Science and Technology Management Research,2014(20). |
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| Authors: | ZHANG Deming LIU Simin |
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| Abstract: | This article uses the ICTEM model to build the system of the transformation of intellectual capital. To obtain the relationship between intellectual capital transformation and enterprise value, we construct the "input - transformation - output" indicators of intellectual capital . Using the 2009-2012 panel data of the listed companies, we analysis the factors that affect the transformation. Research result shows that intellectual capital transforms into the enterprise value by means of direct and indirect ways. Without effective management, intellectual capital cannot transform into enterprise value. The value created during the process is not the enterprise income, but the efficient growth of profits and value .During the process, wages, directors" qualification, R D investment; patent, company size and age are the factors that influence the creation of value. The inputs of human capital and structural capital have a significant positive impact on the growth of enterprise value. |
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| Keywords: | intellectual capital transformation input output EVA |
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