Paper Information

Title: 

AN INVESTIGATION OF INTELLECTUAL CAPITAL IMPACT ON FIRMS' MARKET VALUE

Type: POSTER
Author(s): ASADI GH.H.,RAHMANI ZARNAGH B.,RASHIDI N.
 
 
 
Name of Seminar: INTERNATIONAL CONFERENCE ON INTELLECTUAL
Type of Seminar:  CONFERENCE
Sponsor:  INSTITUTE FOR ADVANCED STUDIES IN BASIC SCIENCES (IASBS)
Date:  2009Volume 1
 
 
Abstract: 

The increasing gap between firms' Market and Book Value has drawn wide research attention to exploring the invisible value omitted from financial statements. Some factors that impact on firms' value but don't release in financial statements are Brand value, Intellectual value...
This research focuses on relationship between intellectual capital and firms' market value. For examining the relationship between corporate value creation efficiency and firms' Market-to-book Value ratios, Pulic's Value Added Intellectual Coefficient (VAIC) Model in 2000 is used. Major hypothesis, firms that have greater value added intellectual coefficient have higher Market-to-book value ratio, is tested by Spearman and Pearson correlation, linear regression and multiple linear regression. Market-to-book value ratio is positively related with value added intellectual coefficient. Also market-to-book value ratio is positively related with capital employed efficiency, human capital efficiency and structural capital efficiency. Three independent variables as effective indicator on market-to-book value ratio are used in multiple linear regression analysis. Findings show that independent variables impact on dependent variable straightly, and changing one unit in the independent variables has 0.118 unit influence on market-to-book value ratio.

 
Keyword(s): INTELLECTUAL CAPITAL, MARKET VALUE, CAPITAL EMPLOYED EFFICIENCY, HUMAN CAPITAL EFFICIENCY, STRUCTURAL CAPITAL EFFICIENCY
 
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