Research On The Relationship Between Intelligence Capital And High-tech Listed Company's Performance In China

In the industrial economy time, land, labor and capital are the three main factors of production, as the development of enterprise strategic resources, and the role of currency capital is the most essential. However, in recent decades, especially in the twenty-first century, with the rapid development of science and technology, a new economic form called knowledge economy era is quietly rising. In the background of knowledge economy, knowledge as a new strategic resource has gradually become one of the most important factors of production, and becoming the new source of inspiration of the future development of enterprises. Therefore, more and more scientific research institutions, scholars and enterprises began to pay attention to this field, and launch a series theory and empirical research of intellectual capital. So far, there are ample research results indicated that: Intelligence capital has more and more important influence on enterprise performance, and higher intelligence capital management have a positive effect on the development of enterprise. Based on this, the purpose of this article is that through the empirical research of high-tech listed companies of our countries to further clarify the relationship between intellectual capital and enterprise performance and the impact on it.Intellectual capital of enterprise as intangible capital is not as easy as currency capital that can be reflected in the financial statements. So, it is difficult and the focus of this article is that how to quantitative the contribution of intellectual capital. So far, a great many of scholars have started research in this field, but most of the research remained in the theory, actually there are not many intellectual capital measurement of enterprise methods used in the empirical research. Based on it, this paper based on the previous theory of intellectual capital, taking a combination of theoretical and empirical system research of the relationship between intellectual capital and enterprise performance, especially for a large number of empirical analysis,providing the reference results for the further research of this field .This article is divided into four chapters of contents to study this subject on the relationship between intellectual capital and enterprise performance. The first chapter is an introduction section, introducing the article research background, and set out the significance of this study, research methodology and research framework and flow chart. The second chapter describes the intellectual capital and its related theoretical review, this chapter introduces the concept of intellectual capital for the previous theory, including the intellectual capital of the content, structure and characteristics, and details are given at home and abroad. Review of theory can be said that the intellectual capital of academic research is numerous and mature in this field. The third chapter based on the intellectual capital theory, introducing seven measurement methods of intellectual capital, selected the intelligence increment method of correlates (VAIC) to take the intelligence capital the appraisal method. However, so far none of them is perfect, including the selected one has followed shortcomings: Due to the pursuit of practical measurement is simple and objective, there is some difference between the selected indicators and the actual investment of intellectual capital of enterprise. Then in the fourth chapter we construct the model, and select 64 listed companies from electronic information, computer and communications industry of our country for the empirical research. Using Eviews6.0 statistical analysis software to analyze the relationship between intellectual capital and enterprise performance. In the final, we summarize the above empirical results, presented research findings and put forward the shortcomings of this study, while prospect of future development of intellectual capital.Through the empirical study results we found that currency capital has played an important role in the industrial economy, and in the modern enterprises it still play a key role, but intelligence capital is more and more significant of the enterprise. Human capital and structural capital have a positive role in promoting enterprise performance. Among these, human capital is the fundamental as enterprise dynamic resources, structural capital like machinery lubricants, can improve productivity. Therefore we say that intelligence capital and its constituent elements had a positive impact on enterprise performance.However, for my speaking, there is no universally accepted conclusion of intellectual capital methods of measurement in the academic circle. For another words, the empirical results in this article are not completely accurate,which is a shortcoming of this study. I am hope of improvement in the future research.