Based On The Intellectual Capital Of The Enterprise Value Of Listed Companies To Create Empirical Research

The arrival of the knowledge economy so that the intellectual capital replaces physical capital gradually,what’s more the intellectual capital become the most important social and economic development driving force, and become sustainable growth and value added of the dominant elements.However, for the study of value creation, at present more physical capital-based indicators of financial evaluation system to quantify the assessment, did not take into account the intellectual capital in the enterprise’s contribution to profitability at home and abroadIn this paper, based on previous studies, based on intellectual capital and the theory of value creation,I made more systematic literature review and comment.Defines intellectual capital and the concept of value creation and clear the elements of intellectual capital.Then,based on the concept of value creation of corporate value creation,which derived from the enterprise value must be two angles with corporate performance. Based on the intrinsic value theory of companies,concerned the three factors:the future profitability of M, the discount rate r and the time t going,which studing the enterprise value and business performance issues.Based on the three factors of the role of media that analysis for the human capital, structural capital and relational capital between the various elements and the elements of the role of corporate value creation. Finally, summarize the various elements of capital between the logical structure to achieve value creation.Again according to business value creation logic structure of the enterprise value creation functions may exist in the form, and clear the need to use cluster analysis and the VAIC model regression analysis.Finally,we let the Shanghai and Shenzhen Stock Exchange in China’s877A-share companies as a research sample, the use of cluster analysis, value-added intellectual coefficient VAIC, regression analysis and correlation analysis of empirical analysis.In theoretical studies levels:First,this paper compares a variety of intellectual capital measurement model that I think the VAIC method is most effective.Secondly,compared with the existing literature, this paper will decomposed into two major business performance,business value and enterprise value. To analyze the integrated mechanism of value creation.Values??starting from the inner, more systematic, detailed analysis and summarizes the value of intellectual capital to create the logical structure;Level in the empirical analysis:First, this paper, the overall sample collection data using cluster analysis filter samples, combined with VAIC model and empirical econometric model as a tool;Secondly, in order to overcome the multi-collinear variables problem, using the principal component regression which with a certain nature.