The Intellectual Capital Of The Enterprise Value-oriented Assessment Methods

In the conditions of strongly competed market economy, enterprises' survival and development is determined by always creating value that admitted by society. The process of enterprises' development is value creation and value realization. The conception of intellectual capital reflects the change of the resource of enterprises' value. How to increase value by intellectual capital management is the problem in front of all of the enterprises. However, intellectual capital evaluation, which is the first stage of intellectual capital management, has to be connected with enterprise value. Intellectual capital evaluation isn't ought to only tell the contribution the intellectual capital creates on enterprise value at some moment, but also help high managers know the relationship between intellectual capital and enterprise value. Enterprises should know which intellectual capital is more related with enterprise value, which is the most worthy to investing and paying attention to. Enterprises should pre-estimate the dynamic change which intellectual capital contributes to enterprises value.As a kind of capital, though intellectual capital is invisible, it is not available without any reasons. Enterprises need invest on intellectual capital in order to attain it, moreover, intellectual capital can't add value to enterprise if intellectual capital which accumulated by investment is used ineffectively. According to this reason, this paper begins with the capital attribute of intellectual capital. On the base of systematic analysis the deep mechanism between intellectual capital and enterprise value, also according to the reclassified of intellectual capita based on structural extent, this paper divides the process of intellectual capital creates enterprise value into two periods of quantity accumulation and use. Enterprises running result in two periods decide intellectual capital's value creation potential and value using ability. Accordingly, this paper evaluates intellectual capital from two periods. The first period is to evaluate value creation potential of intellectual capital; the aim is to see the dynamic change of intellectual capital quantity. The paper sums up static state quantity, combination efficiency and structural extent these three factors which influent on intellectual capital creation potential. Paper uses FA in the evaluation; the second period is to evaluate intellectual capital value using ability. The aim is to expose the using efficiency of intellectual capital. The research of this period is studied from internal enterprises and external ones. Internal factors come from enterprises bestir intellectual capital, external factors come from competition extent. On the base of theory analysis, the relationships which intellectual capital bestirs mode and competition extent do to intellectual capital value contribution come out. This period uses AHP to evaluate intellectual capital. The final value of intellectual capital is product of value creation potential and value using ability.At the end of this paper, we choose seventeen enterprises in China's software industry as sample, use enterprise value-oriented intellectual capital two stage evaluation method to analyze the sample.