Research On The Impact Of Intellectual Capital On Financial Performance In Listed Companies

Under the background that the level of science and technology determines the development of enterprises,the introduction and cultivation of high-end talents is particularly important.Good intellectual property level,unique corporate culture,perfect business process and resource allocation system for the company in the future development and daily management is particularly important.As the content of intellectual capital intellectual property and corporate culture,can affect the company's operating profits.So does the level of intellectual capital affect the financial performance of manufacturing companies? is the level of human capital and structural capital acting on the financial performance of manufacturing enterprises?According to this,based on the resource base theory and core competitiveness theory of enterprise competitive advantage,combined with the current research status and research results,it is found that the research results of special equipment manufacturing industry,chemical raw materials and chemical manufacturing industries are not very large,so as to put forward the hypothesis: manufacturing enterprises,special equipment manufacturing,Chemical raw materials and chemical products manufacturing listed companies the level of intellectual capital has a significant impact on the financial performance of the company.This paper selects the annual report data of the parent company of Shanghai and Shenzhen listed companies in 2013-2017,from which the industry codes are C26,C27,C30,C31,C32,C35,C40 samples,a total of 281 listed companies,579 sample data.Among them,C26 represents the chemical raw materials and chemical manufacturing industry code,the industry selected 77 listed companies,a total of 140 samples.C35 for the Special equipment manufacturing industry code,the industry selected 77 listed companies,a total of 176 samples.Finally,based on the above three groups of data,correlation analysis and multivariate regression analysis are carried out.The results showed that:(1)The intellectual capital of manufacturing enterprises,chemical raw materials and chemical manufacturing enterprises and special equipment manufacturing enterprises had a significant impact on the financial performance of the company.Among them,the level of human capital and the level of structural capital have a significant impact on the financial performance of companies in various segments of the manufacturing industry;(2)The following phenomena exist in all three types of industries: the positive promotion of structural capital to the financial performance of companies is slightly greater than that of human capital.Finally,the conclusion of this paper is as: chemical raw materials and chemical manufacturing industry,special equipment manufacturing intellectual capital has a significant impact on the company's financial performance,and the promotion of special equipment manufacturing industry is slightly greater than chemical raw materials and chemical manufacturing enterprises.Therefore,this paper suggests that the above enterprises should improve the financial performance of the company by raising the level of intellectual capital.