Nature Or The Value Of The Intangible Assets Of Listed Companies Of Our Country Travel Association Study

In this time of knowledge and technology as the means of competition, the role of intangible assets as economic resources is more and more big to the operational activities of the enterprise. The quantity and quality of intangible assets is an important sign of the core competitiveness and can even decided to the enterprise’s success or failure. In the new market environment, intangible assets driving fixed assets and other assets to produce economic profit will be an inexorable trend. The research uses the listed tourism companies as research object to enrich intangible assets value relevance theory.The purposes of the research:(1) the intangible assets has been mostly studied as a whole at domestic, neglecting specific branch line of business, and the research uses the listed tourism companies as research object to enrich intangible assets value relevance theory;(2) the study of the contribution of intangible assets, intangible assets types to operation performance causes the enterprise to understand the status and role of intangible assets to create value, reminds enterprise to take different management to the different intangible assets, optimizes the capital structure and intangible assets internal structure to achieve the best benefit of the intangible assets;(3) through the detailed analysis of the intangible assets, we can fully know the present situation of intangible assets, and undertake detail classification to help the enterprise understand the questions of intangible assets and the significance of the intangible asset management.The process of the research:(1) making a literature review analysis in two aspects: research situation of the intangible assets and the enterprise performance evaluation from home and abroad;(2) through the descriptive statistics of the listed tourism companies, we can grasp the present situation of intangible assets, and according to the different standards, sort to lay foundation for the follow-up of the empirical analysis;(3) from two aspects, the absolute and relative quantity, building the multiple regression model to research the correlation between intangible assets, different types of intangible assets and operating performance;(4) by using factor analysis method to calculate operating performance comprehensive index, comparing single index with comprehensive index, inspecting the stabilization of the regression model.The conclusion of the research:(1) by September of2011, the29A-share listed tourism companies in HuShen stock exchange list for trading disclose the intangible assets and the concrete form with the exception of Tibet tourism, xi’an tourism, Xindu hotel;(2) the specific naming of intangible assets of listed tourism companies is obscure, no unified standard and the standardization need to be resolved;(3) the proportion intangible assets of the total assets is around10%, much lower than the50%of the western developed countries, and obviously lower than the proportion of fixed assets; intangible assets increasing is less than fixed assets or other assets; intangible assets ratio of hotel listed tourism companies is obviously higher than scenic spot and the integrated;(4) intangible assets, fixed assets and the total assets are increasing year by year, but its growth rate is no obvious change rule; Compared with the fixed assets and total assets, the fluctuation of intangible asset growth rate is the largest, development speed slightly faster; intangible asset growth rate of scenic spot listed company is just above hotel and integrated, hotel minimum;(5) the intangible assets is mainly use class, but the ratio of high value technology class is only1%or so;(6) the contribution of intangible assets to operating performance is positive and significant, but is lower than that of fixed assets; intangible assets and fixed assets will lead to increase operating performance, but different degrees, fixed assets is more obvious;(7) the different types of intangible assets have different contribution to operating performance, technical class is the highest, and the other class is the second, and use class is the minimum, but the proportion is the biggest;(8) by using factor analysis method to calculate comprehensive index of the operating performance, again, the result keeps consistent, the single index model pass the robustness inspection, and the conclusion is reliable.The innovations of the research:(1) Research Writing-Question Posing is the new topic, intangible assets empirical research of listed tourism companies is relatively scarce, this study enrich intangible assets value relevance theory;(2) detailedly analyse to present situation of intangible assets of the listed tourism companies, and point out problems of the intangible assets investment and management, and propose relevant suggestions and strategies to improve the economic benefit of listed tourism companies.