The Study On Effect Factors Of Information Technology Industry's Intellectual Capital Information Voluntary Disclosures

In Knowledge Economy Age, the key resource of creating business value has been transformed into intangible assets, especially these knowledge-based intellectual capitals. Importance of the intellectual Capitals in enterprise competitive and development process has been referred to an unprecedented level which makes studying intellectual capitals stand out from the whole process of enterprise management and become an important aspect of researching enterprise competitive advantages. At the present stage, intellectual capitals disclosure is voluntary in our country; both in content and form are operational, some key factors could have impact on intellectual capitals disclosure. Purpose of this paper is to find factors which effect intellectual capital disclosure from the perspective of corporate governance by empirical way, finally, proposed relevant policy recommendations based on the empirical results. Based on analyzing domestic and international related researches, this paper will propose the empirical model between index of intellectual capitals disclosure and the variables of corporate governance structure and collect the information of 46 annual reports 2007-2009 of Shanghai listed company of technology industry in China as sample, using multiple linear regression method to study the impact of corporate governance on the intellectual capitals disclosure.Empirical results show:in the high-tech industry of China, ownership concentration, ownership properties, the proportion of independent directors, the number of the Board have significant impact on level of intellectual capital disclosure; In addition, through collecting and collating information of intellectual capital disclosure, I find it lacks consistency and comparability both in content and form of intellectual capital disclosure. Securities Regulatory Departments should strengthen the control of intellectual capitals disclosure.