Study On Knowledge-based Enterprise Growth And Evaluation From Capitalization Perspective

Knowledge-based enterprises are a new form of organization in the era of knowledge economy, on which the academes do ascendant researches on. Knowledge-based enterprises have their unique innovations and flexible operations so as to become one of the most dynamic and promising parts in modern economy, and play an increasingly prominent role in national economy. However, knowledge-based enterprises are characterized with high-tech-intensiveness and high-yield outputs. And the ever growing quality is the core of knowledge-based enterprises. Therefore, the research and development of growth evaluation model and technology for knowledge-based enterprises embodies both great theoretical and practical significances to reflect their growing status and promote steady and sustainable economy development.Against this background, this paper studies the growth and evaluation of knowledge-based enterprises from capitalization perspective, and its main research work and contributions are as follows:Firstly, enterprise capital is the common category focused by both economics and corporation management. Traditionally, enterprise capital is defined through production factors, production relations and property rights etc. But this paper, based on reading and analyzing a great deal of domestic and oversea literatures, explains capital from the unique way of capitalization. It analyzes the foundations and conditions to form and convert knowledge-based enterprise capital. It also describes the instruments and measures to implement the conversion. Meantime, it expatiates in details the procession of conversion of knowledge-based enterprise capital. It analyzes the factors of influencing the growth of knowledge-based enterprises from the capitalization perspective; furthermore, it does research on the growth of knowledge-based enterprises.Secondly, on the one hand, on the basis of collecting, sorting literatures, seeking expert advice, and making questionnaire surveys, it theoretically studies factors affecting knowledge-based enterprise growth from the capitalization perspective, establishing its theoretical structure. On the other hand, on the basis of theoretical research, and on the reference to projects at home and abroad, it develops a Scale Factor affecting growth of knowledge-based enterprises, including six sub-scales of topics. Taking into account views of experts to design growth Scale forecast of influencing factors to knowledge-based enterprises. Subsequently investigations were conducted about the knowledge-based enterprises in Anhui, Hunan, Shanghai, Beijing, and Chengdu. Then analysis was made from what the senior management and technical staff answered to the questionnaire. It applied SPSS15.0 and LISREL 8.70 software tools to analyze reliability and validity of the scale, excluding invalid and inappropriate items. Then the scale was finally established and the index system on factors influencing growth of knowledge-based enterprises was formed.Finally, based on relevant researches conducted by Chinese and foreign scholars, this paper has brought forward and demonstrated the basic theory and strategy of growth evaluation on knowledge-based enterprises. It has also established the GEP evaluation model by setting the index system concluded through the above study to be quantitive index system (A-system) and qualitative index system (B-system). In previous GEP model, the B-system is mainly set by the ambiguous comprehensive evaluation method, which is too subjective for it only adopts the scores by some experts to weigh each index. This paper applies the information entropy evaluation method to determine values for each index, whose result is more objective. For most knowledge-based enterprises are small and medium-sized, this paper adopts data on such enterprises from the listed companies of Growth Enterprises Market, which ensures the objectivity. The evaluation result is reached through using the improved GEP model to objectively evaluate the growth of 50 knowledge-based enterprises. Further, suggestions both in micro and macro ways are promoted on how to facilitate these enterprises' growth.