A Study On The Correlation Between Intangible Assets And Profitability Of Listed Companies In China - Taking The Pharmaceutical Industry As An Example

In our country industrial economy as a modern economy civilization is experiencing from the extensive to economical. intangible assets has become the important elements of modern enterprises enhance core competitiveness.As the product of human intelligence, it isconected with economy, technology and knowledge. In addition, intangible assets instead of physical assets become a trend in the development of economy. The pharmaceutical industry has been an important part of high and new technology development. In the era of knowledge economy, more and more of the listed pharmaceutical companies has realized the importance of intangible assets value.The paper illustrates related literature about the intangible assets value at home and abroad.It proposes the listed company’s own research model and method combining the actual conditions of China’s pharmaceutical industry. First of all, the paper bases on the latest research results at home and abroad and analyzes the relevant intangible assets on the definition of enterprise intangible assets, value characteristics, the influence factors of value and intangible assets in the enterprise value creation and depth. Second, it chooses medicine plate 47of Shanghai and shenzhen stock market listed companies 2012,2013 two years of performance as the resea rch object. It uses SPSS 16.0 statistical software for descriptive statistics and multivariate linear regression analysis.In order to study the pharmaceutical industry listed companies’s a linear relationship with the profitability of intangible assetsand especially relevance to the business profits and share prices. Finally, it puts forward the proposal on se of tsummarizing the results of the study, the analysis reason.Empirical research conclusion:(1) There is significant positively related between the amount of intangible assets and the enterprise’s main business profit; (2) Three categories of intangible assets of the pharmaceutical industry has a certain promotion to the profitability of listed companies, promotive strength dues to a slight difference in the enterprise management. The patent right is the most significant among the influence of all the intangible assets. (3) The influence of the intangible assets has less effects on the listed company’s share pricethan on the of main business profit.Through study,this article wants to make it clear that the intangible assets of Chinese medicine has significant positive influence on the profitability of listed companies. At the same time, the influence of different categories intangible assets is different on profitability. It has important significance to the listed pharmaceutical companies to optimize the intangible on the structure and management and investment strategy.