Empirical Research On Relationship Between Intellectual Capital And Growth Of Companies

With the rapid development of information technology and the increasingly intense global economic competition, the knowledge economy becomes the mainstream form of the21st century economy. The basic characteristics of the knowledge economy representthat it is based on creative knowledge as the most important factor of production. The economy is no longer dependent on the material, but the knowledge. With the rising of the knowledge economy, the fundamental changes of the drivers of the value creation have taken place. The importance of intellectual capital is gradually beyond the tangible assets and financial assets. And the intellectual capital becomes the main driving force to create value for the corporation.Under the promoting of knowledge economy, the focus of the economic foundation turns to the people’s talents and the knowledge contained in the product. The speed of the knowledge updating changes with each passing day and the knowledge-intensive level of the company is continuing to be strengthened. A large number of knowledge promotes the company’s technological innovation, while the technological innovation and advancement in turn prompted the company to be more dependent on knowledge. Therefore, the tangible resources such as funds, equipment have not called the company’s unique advantages in today’s society, and the company really stands out in the marketplace which is possession of these intangible resources such as knowledge, technology and intelligence. Intellectual capital has become the company’s source and power of value added, and plays an increasingly important role in the company’s sustainable competitive advantage. Thus the company which survives in the era of knowledge economy must pay more attention to the important role of intellectual capital for the operation and management.In order to explore the difference of the intellectual capital drivers validity in the different features industry, the paper selected three characteristic industries to carry out research, namely, manufacturing industry which is the traditional labor-intensive industries, information technology industry which has been in the continuous development of technology-intensive industries, real estate industry which is the new capital-intensive industries. Expect to collect the valid evidence of intellectual capital drive the company’s growth. According to the results, the paper discusses the different performance of intellectual capital drivers among the different industries. Enhancing the company’s core competitiveness, the resources of the hidden could be developed and utilized and more value is created. The study provides some degree of reference value for the typical industrial features Chinese companies to allocate and manage the intellectual capital.The main contribution and disadvantages of this paper:1. The new research point and index. Because companies in different industries have different resources, the paper selected three representative industries to study, namely, manufacturing industry, information technology industry and real estate industry. The paper discusses the different performance of intellectual capital drivers among the different industries and selects the company’s sustainable growth rate as interpreted variable. The combination of them will become one of the main innovation points in this paper.2.The contribution of the research content. According to the results, the paper discusses the different performance of intellectual capital drivers among the different industries. Enhancing the company’s core competitiveness, the resources of the hidden could be developed and utilized and more value is created. The study will enrich and deepen the knowledge of value created by intellectual capital.3. The limitation. Financial and non-financial, quantity and quality, qualitative and quantitative factors should be involved in intellectual capital performance evaluation index system. There is only some of the company annual report data disclosed, so we cannot measure the other possible important indicators.