A Study On Transformation Paths Of Intellectual Capital

In the era of knowledge-driven economy,intellectual capital which is the key for enterprises to improve performance and gain competitive advantages,has gradually taken the place of the traditional factors,becoming the headspring of the corporation value.A lot of enterprises attempt to win by the means of investment,acquirement and application of the intellectual capital.This paper explores the transformation paths of intellectual capital from intangible assets to tangible achievements,in order to provide suggestions for the enterprises to improve the management of the intellectual capital and sustain healthy growth.Based on the relevant study,the paper establishes the original framework that presents the transformation paths of intellectual capital from intangible assets to tangible achievements, which is "intellectual capital—internal process—customer performance—financial performance",and puts forward relevant theoretical assumptions and transformation paths model.Data are collected mainly from the managers of enterprises in Pearl River delta and Structure Equation Model is applied to test the hypothesized model empirically.From the empirical findings,practical implications are discussed.The main conclusions are:The intellectual capital has significant positive effects on internal process;the internal process has positive effects on the customer performance directly,and influences enterprise financial performance with positive effects indirectly;the customer performance has significant positive effects on the financial performance.Therefore,this study suggests that intellectual capital management should be emphasized from a strategic perspective; the "customer-oriented" business processes should be established and internal process should be improved with the help of the intellectual capital.