Research On Intellectual Capital Value Contribution Based On Enterprise Life Cycle Theory

In the era of the knowledge economy,intellectual capital with knowledge as its core has become the most valuable resource for enterprises.It is the key to achieving value and creating profits for enterprises,and the rational use of intellectual capital can effectively promote the improvement of firm performance.Enterprises have their own life cycles,and they will show different development characteristics in different life cycle stages.and intellectual capital,as the source of enterprise value creation,will inevitably present different characteristics in different life cycle stages of the enterprise.Therefore,this paper further quantifies the correlation between intellectual capital and firm performance based on the enterprise life cycle,and provides advice on the development and management of intellectual capital,and helps enterprises to achieve sustainable development.Firstly,on the basis of drawing on the research results of domestic and foreign scholars,this paper reviews the basic concepts and theoretical foundations involved in the research.Secondly,based on the characteristics of each life cycle stage of the enterprise,analyzes the correlation between intellectual capital and firm performance in different life cycle stages and proposes related hypotheses.Thirdly,overall design of the empirical research,this paper takes listed enterprises in the information technology industry as the research sample,uses the growth rate industry classification method to divide the life cycle of the sample enterprises,and uses the partial least squares structural equation model to dissect the correlation between intellectual capital and firm performance in different life cycle stages.Finally,this paper analyzes and tests the collected data,verifies the hypotheses proposed,and puts forward targeted recommendations for enterprises in different life cycle stages based on the research results to help enterprises reasonably develop and use intellectual capital.The empirical results in this paper show that intellectual capital factors can generally have a positive effect on firm performance at different stages of enterprise development.However,through comparative analysis,it can be found that in different life cycle stages,intellectual capital factors have significant differences in the extent of their effects on firm performance.Among them,in the growth stage,human capital in intellectual capital contributes more to the performance of the firm,that is,enterprises at this stage should focus on investing in human capital to enhance enterprise value;in the mature stage,structural capital in intellectual capital contributes more to the performance of the firm,that is,enterprises at this stage should focus on structural capital to achieve value appreciation;in the recession stage,the relationship capital in intellectual capital contributes more to the performance of the firm,that is,enterprises at this stage should tend to use relational capital to create value for the enterprise.