The Research On The Relationship Between Intellectual Capital And Business Performance

Since the 1970s, the global economic growth has been a fundamental change; the intellectual capital has gradually replaced the traditional factors and become the only most important strategic resource to the enterprise value. Therefore, intellectual capital is considered the most valuable business asset and the most powerful competitive weapon at present. An empirical study of the adoption of a clear understanding of intellectual capital on the impact on firm performance effects is the use of intellectual capital to create the basis of enterprise value. The purpose of this paper is to study the impact of the physical capital, human capital and structural capitalon the corporate performance by empirical analysis, further to study whether the different efficiency lead to different corporate performance in three sectors after the financial crisis. In analyze in the domestic and foreign existing related results foundation, the present paper proposed the concepts of intellectual capital and the enterprise achievements relations, as the research object of firms in manufacturing industry, IT industry and the real estate business listed in Shanghai and Shenzhen's shares of stock A, we use the method of VAIC and multiple linear regression analysis to study the relation between physical capital, intellectual capital and enterprises performance, and the different efficiency before and after financial crisis in three industries.Through empirical research and theoretical studies, we conclude: The physical capital and human capital in manufacturing enterprises have positive correlation to corporate performance, and the structural capital is negatively; the physical capital, human capital and structural capital in IT have positive relations; the physical capital and human capital in real estate sector have positive relations to corporate performance, but the structural capital is negatively. Simultaneously, we compare the Value-added efficiency of physical and intellectual capital before and after the financial crisis in three types of industry, we conclude the reduction of enterprise performance the financial crisis led to by affect the efficiency of capitals.In the three types of industries, physical capital still promotes the enterprise to synthesize the achievement the enhancement. The intellectual capital became the strategic resources the enterprise achievement relies on. But we also note, the structure capital did not have to be able to unfold the strategic resources the characteristic, it is not explicit to the enterprise performance.