Research On The Correlation Between Intangible Assets And Corporate Performance Of Listed Companies

With the rapid development of economic globalization,the fierce competition among enterprises has reached an unprecedented situation.If any enterprise wants to stand out in the cruel competition,it must rely on its own intangible assets.It can be said that which enterprise has the advanced unique technology,who has mastered the initiative of the market development.As the mainstay to realize the industrialization of R & D achievements,The information technology industry should pay more attention to its intangible assets and R & D activities.As an important force in China's capital market,the GEM listed companies from the original 59 to 570 in 2016.Among the 570 listed companies,the number of Listed Companies in the information technology industry has reached 105(accounting for 18.42% of the total number of listed companies),and has become an important part of China's GEM listed companies.Because the intangible assets are the core assets of Listed Companies in information technology industry and plays a crucial role in the growth process.So the degree of intangible asset's influence to the company's performance is the attention to both investors and managers,which is the issue discussing in this paper.Therefore,based on the domestic and foreign research literature summary,we take the GEM listed companies in information technology industry from 2011 to 2016 as the research object and use descriptive statistical analysis method?structure rationality analysis method,which will depicts the change of intangible assets.secondly,we take the intangible assets of listed companies to disclose data as explain variables ? the performance of listed companies related indicators as explanatory variables,multipling regression model of the intangible assets of listed companies and corporate performance.And we can explore the influence degree of the intangible assets of listed companies on corporate performance.So that we can achieve the following objectives: First,exploring the correlation between the intangible assets of listed companies and corporate performance,so as to enhancing the company the level of awareness of intangible assets.And putting forward own proposals for management intangible assets and achievements,so as to enhancing the company's research and development ability and market competition ability.Second,through the study of intangible assets,we can provide government and other management departments with measures to improve the company's intangible assets disclosure,regulation and measurement,and effectively protect the intangible assets of listed companies from the perspective of policies.The empirical research shows that during the 6 years the GEM listed companies in the information technology industry have made considerable progress in the total amount of intangible assets.But there is a downward trend in the rationality of the structure of intangible assets.At the same time,intangible assets have a positive effect on the company's performance,but the contribution of technological intangible assets and non-technical businesses is different.In view of the above research results,this paper puts forward the following suggestions: on the one hand,the government managers should standardize the disclosure format of the company's intangible assets;on the other hand,they should also actively support the company's R & D activities.The company should make three improvements in the formation,management and performance evaluation of intangible assets.