The Mechanism Of Intellectual Capital Affect The Firm Performance Of High-tech Enterprise

In this study, we select intellectual capital and firm performance of high-tech enterpriseas the core to study the path of role. We want to prove that innovation capability and businessstrategy are the mediating effect, enterprise life cycle is the moderating effect. The contentand framework of this study is namely：（1）we introduce the paper title choose background,study significance, the main theoretical basis for research, the content and methods of thisstudy.(2) we introduce the theory of intellectual capital, comb studies on the relationshipbetween intellectual capital and firm performance all over the world.(3)based on the analysisof the existing literature, we analyze the effect of innovation capability, business strategy andenterprise life cycle on the relationship between intellectual capital and firm performancetheoretically. we explore the path of role and then make assumptions and build structuralequation model.(4)we select2009-2012board listed high-tech enterprise as the sample andstart model validation.(5) based on the theory and empirical analysis, we give the suggestionsfor high-tech enterprise to improve firm performance by using intellectual capital.In this study we combine the quantitative and qualitative analysis. On the one hand, byanalyzing the theory and existing literature, we explore the inner mechanism of intellectualcapital and firm performance, analyze the direct path and find out the possible indirect path,namely innovation capability and business strategy. then through the analysis of data, weverified the direct and indirect path and found that excepted innovation capital, intellectualcapital is significantly positively correlated with firm performance; innovation capital andbusiness strategy has made a indirect transmitting function between intellectual capital and firm performance. By dividing the enterprise into different life cycle and study, we found thatin growth stage, both the direct and indirect paths of intellectual capital on firm performanceare significantly positive; during the mature stage only the indirect path—business strategy issignificantly positive; while in recession period only the direct path—the effect of intellectualcapital on firm performance is significantly positive, while business strategy will preventintellectual capital from proving firm performance.