A Relativity Study On Our Listed Companies' Intangible Asset And Corporation Value

The paper mainly discusses the pertinence between accounting index of intangible asset and corporation value in our stock market. There are a lot of pertinence studies of intangible asset and corporation value in foreign countries, but there are only a few such studies in our country. The paper begins with the concept of intangible asset, and points the affect and status of intangible asset in the companies. Besides, the paper analyzes the relation between intangible asset and corporation value by the numbers. Then it statistically analyzes our countries'listing companies'intangible asset, and goes deep into the interior of intangible asset, and checks up the pertinence between the size and the structure of intangible asset and corporation value in the situation of divided and undivided industry. The study conclusion shows that there is obvious pertinence in mixed industry, besides, marked pertinence lies in glebe usufruct and gross profit margin. But in undivided industry, there are only a few pertinence lies in the size of intangible asset and corporation value, and we find that there is obvious pertinence in technology intangible asset and gross profit margin in the structure of intangible asset containing manufacturing, information and technology, social work industry and culture industry. Except such industries, there is no obvious influence between technology intangible asset and gross profit margin. Seeing from the reflection of the market, capital market reflects plus price reaction to intangible asset. In manufacturing, information and technology, social work industry and culture industry, glebe usufruct can't help to improve price of stock, on the other round, it will lead to the fall of the stock price. Technology intangible asset's value incarnates in manufacturing, information and technology and culture industry. The intangible asset which is valuable and identified with market contains technology intangible asset, brand and other intangible asset. But to other industry, the valuable intangible asset contains glebe usufruct and license usufruct.All in all, I conclude that there are differences between different intangible asset and different industry. The study on the value of intangible asset needs to attend the function mechanism in different intangible asset and different industry, or else, we are likely to get impertinent conclusion.In the end, the paper indicates the localization of the study according to the conclusion and brings around exception.