An Empirical Study On The Relationship Between Intangible Assets And Business Capability

In the21st century, as a symbol of wealth and value, and has a huge marketperformance, is characterized by a rapid increase in intellectual achievements ofintangible assets in the proportion of human wealth. Intangible assets in theknowledge economy plays a huge role, such as promoting social and economicdevelopment, and expand its influence and improve the core competitiveness ofenterprises, enhance their overall strength, the expansion of corporate capital, promoteenterprise modern management and so on. Intangible assets has become theindispensable factor of productivity in the process of enterprise development. whatdoes the Intangible assets impact on the enterprise exactly? and how influence degreeit is?With the rapid development of knowledge economy, intangible assets is apowerful weapon to bring the market value and competitive advantage for theenterprise, and it can bring to the enterprise pouring excess profits. many studies haveshown the viability of businesses and intangible assets was a significant correlation,but most of the disclosure of intangible assets accounting information of listedcompanies “gold content” is not high. Due to the effect of enterprise scale and qualityof intangible assets, the influence of intangible assets of enterprises in variousindustries will differ. The new energy and energy-saving environmental protectionindustry (hereinafter referred to as the new energy and environmental protectionindustry）is the sunrise enterprise in the process of rapid development of knowledgeeconomy，it is a high-tech industry,and its stock of intangible assets and total assetsaccounted for the larger proportion.Therefore, The value relevance of intangibleassets on new energy and environmental industry has a relatively representative.In this paper,the writer take the rapid development of China’s80listing newenergy and environmental protection industry as the research sample,to analyze howthe intangible assets arising on business impact and how much influence. In recentyears,the new energy environmental protection industry is up to ten thousands, itcovers a broad area, mainly involving solar energy, biomass energy, nuclear energyand wind energy, energy saving and new energy vehicles industry, ecologicalenvironmental protection and pollution control and so on eleven big areas. This paperselects the study period is January1,2008to December31,2012, the new guidelineshave been implemented for five years, the financial data is practical, and by the use oftheoretical analysis and empirical research to test the relevance of intangible assets,hoping drawn conclusions more persuasive.Although this paper has detailed researched on the value relevance of intangibleassets of the new energy environmental protection industry, but inevitably, there arestill some shortcomings, such as the study period in this paper is from2008to2012,the study interval slightly shorter, if you want to more deeply understand the valuerelevance of intangible assets, should choose a longer study range. There are manyfactors affecting the management ability of the new energy environmental protectionindustry, but this paper only chooses one of the most important four(previous yearoperating profit, net value of fixed assets, intangible assets, total liabilities), the resultsof which may be obtained impact, as well as studied by a new energy andenvironmental protection industry is based on the industry Classification Standard ofResset, its reliable scientific needs further study.