The Effects Of Intellectual Capital On The Performance Of Construction Companies

With the development of information technology and the trend of economic globalization, the development environment of enterprise has changed dramatically, the economic formation in the future is innovative, and will rely on intellectual capital as an important symbol. As a form of social organization, construction enterprises must gain economic profit, it is also a basis for them to grow and develop, and intellectual capital is important for construction enterprises to gain sustainable competitive advantage. However, how to evaluate the performance of construction enterprises, which is closely related to the development of enterprises? What is the impact of intellectual capital for the performance of construction enterprises? Existing studies have not studied systematically on these issues; the impact of intellectual capital on promoting enterprise performance is still in the fuzzy state. In view of this, we use the impact of intellectual capital for the performance of construction enterprises as the study of the main line on the basis of the existing literature, and build structural equation model to evaluate the impact of intellectual capital for the performance of construction enterprises systematically. It has important theoretical and practical significance for construction enterprises to improve business performance and gain sustainable competitive advantage.Studying the performance appraises, adopting structural equation model, an empirical evaluation for the evaluation of construction enterprises was carried out. And then, we analyze the dimensions of intellectual capital of construction enterprise, and do research on the intellectual capital value creation of construction enterprises. On this basis, we establish evaluation system on the effect of intellectual capital on the performance of construction enterprises; test the reliability and validity and do empirical analysis of the impact of intellectual capital for the performance of construction enterprises. The main contents of this paper are the following aspects:Firstly, based on the findings of the existing literature, we know that intellectual capital is of great significance for construction enterprises’ growth and development, and it is a reliable guarantee for the enterprises’ sustainable competitive advantage. According to the actual situation of construction enterprises in china, we classify and define performance evaluation method of construction enterprises, and analyze the value creating activities of construction enterprises.Secondly, we determin the performance evaluation model of construction enterprise, establish evaluation system on the effect of intellectual capital on the performance of construction enterprises, define the components of intellectual capitalof construction enterprise, evaluate each element of the intelligence capital of construction enterprise in our country scientificly, and then build the basic indicators and secondary indicators that model analysis need.Thirdly, In view of the construction enterprises which are in the middle of the development stage, we analyze the specific impact of intellectual capital and its various constituent elements on the performance of construction enterprises through structural equation model, test the reliability and validity and optimize the analysis model constantly, and explain the research hypothesis.Fourthly, we make recommendations for construction enterprises to strengthen the management of intellectual capital, and enhance the level of corporate intellectual capital. Only by doing these can our construction enterprises obtain a more sustainable competitive advantage and achieve healthy, orderly and sustained development.Through theoretical and empirical analysis, this paper obtains the following main conclusions:Firstly, we construct the intellectual capital system through enterprise interview and investigation, and develop the actual measurement scale for construction enterprise. Intellectual capital structure can be studied from the perspective of human capital, structural capital and relational capital, structural capital can be subdivided into innovation capital and process capital, so intellectual capital can be studied from human capital, innovation capital, process capital and the relational capital. These four dimensions contain a total of60measurement indicators. The empirical results show that the reliability measurement scale, the validity and the adaptation of the conditions meet the needs of the study. Analyzing each measurement of intellectual capital will help us to understand the importance of intellectual capital for construction enterprise.Secondly, on the basis of the existing literature, we establish performance evaluation system for China’s construction enterprises, and design specific performance measurement scales. Construction enterprise performance can be analyzed from the specific profit performance, operational performance and development performance; these three dimensions contain a total of12measurement indicators. The empirical results show that the reliability and validity meet the needs of the study. Through defining and analyzing each performance indicators, we provide a useful reference for the practice of enterprise performance evaluation.Thirdly, we analyze the mechanism of the intellectual capital for the construction enterprise and put forward the research assumption, and do empirical research and testing by structural equation model. Model results show that human capital, innovation capital, process capital and relational capital has a significant positive effect for the growth of performance. This conclusion can effectively guide our construction managers to cultivate, develop and utilize intellectual capital to enhance performance and obtain a more sustainable competitive advantage.The innovation point of this article is mainly reflected in the following aspects:Firstly, this article selects construction industry, which is related to people’s livelihood, to do research on the impact of intellectual capital for the enterprise performance. By combining the theories of economics and management science into the study, we can reveal the impact of the differences in intellectual capital on the construction enterprises performance more objectively and scientifically.Secondly, we refine and reconstruct the constitution of intellectual capital, and build the intellectual capital formation system of construction enterprise. By building a more comprehensive evaluation index system of construction enterprise’s intellectual capital, and bring the individual indicators into the measurement model, we reveal the relationship between intellectual capital and the improvement of construction enterprises performance more systematically.Last but not the least, through the analysis of the model, we explore the relationship between intellectual capital and the performance of construction enterprise, and analyze the influence of different parts of intellectual capital on the performance of the construction enterprises. At last, we provide some enlightenment for the intellectual capital management in construction enterprise.Through the role of human capital, structural capital and relational capital, we can create, transfer and use knowledge, expand them from individual to collective, the organization and the entire work of the network, and enhance the competitiveness and competitive advantage of construction enterprise effectively. The intellectual capital of construction enterprise is on the move and update. Construction enterprises can increase their capital reserves and strength intellectual capital, achieve a virtuous cycle of accumulating and innovating intellectual capital, and promote the continuous improvement of the performance of construction enterprises.