Study On China's Firm Intellectual Capital Measurement And Reporting

Twenty-first centuary is the times of knowledge economy, which is different from traditional agriculture economy and industry economy. Under this background, intellectual capital and knowledge manegement become hot topic in business field. How to deal with and reduce the great distance between the market value and book value of an enterprise becomes the common problem to research into that all the enterprises face. This thesis, by empirical study and theorial anlysis, focuses its research emphasis on two most important problems: how china enterprises measure and report their intellectual capital.The problem: how to maesure and report intellectual capital is very forward in manegement field, it is a cross-profession problem between enterprises doctrine, human capital doctrine, and accounting doctrine, which is a currently hot territory in the theoretical domain and practical domain.Firstly, in this thesis, the theorial basis which firm intellectual capital runs is introduced, and the domestic and foreign intellectual capital measurement and reporting, as well as the empirical study concerned intellectual capital is analysed. Then the manegement situation in china firm is discussed by interview and investigation questionaire, and the some questionaire data is dealed with by Factor analysis and Principal components analysis means from SPSS software. Worry and purpose in the firm intellectual capital reporting are dissussed. On this basis, this paper expands its research into three urgent problems which china enterprises is faceing: the construction, mesurement and reporting of firm intellectual capital. This paper puts forward its own suggestion of dynamic four-element method model to classify the intellectual capital on according to the organ of enterprises value created. On this basis, this paper differs enterprises intellectual capital measurement from valuation of intellectual capital, and obtains a new type of intellectual capital measurement framework which consists of three stages: awareness and readiness, diagnose and outcome. In the meantime,it constructs a kind of intellectual capital reporting framework which is made up of status statement, flow statement, forecast statement and memo. And it devises a kind of new intellectual accounting scorecard which connects intellectual capital reporting with financial reporting. At last, this thesis furtheres its research into the financing policy concerns intellectual capital, and constructs the relationship model between intellectual capital and capital structure according to finacing motive of enterprises.Because of the following charactoristics of intellectual capital: intangible, joint (affect value production with other factors jointly), potential and forward of value-created in the future, the system and procedure in intellectual capital measurement model can be classfied into two kinds: measurement method for inside management and outside valuation method for reporting. Inside management measurement method emphasizes using qualitive analysis to valuate the variable system, in order to raise the potentiency of intellectual capital and the efficiency of management. On the other hand, outside reporting valuation method emphasizes the market valuation model of intellectual capital with jump-diffusion process according situation of the outside shareholders concerned.Under the framework of income tax of enterprises and individuals, this paper constructs an another relationship model between intellectual capital and capital structure which regards intellectual capital as from outside with jump-difusion process. After numeric analysis of this model, the main conclusions are found finally that a positive co-reaction exists between the leverage effect of enterprises with more intellectual capital and the other intellectual capital; and a negative correlation exists between leverage level and the density of R&D. After study on the relation between the capital cost and intellectual capital, this paper found that information disclosure asymmetry acrues the capital cost and a negative correlation exists between information disclosure and capital cost .