Research Of Intellectual Capital Based On Value Extracting

The earliest thought of intellectual capital is originated from the human capital theory. With the increasing development of the knowledge economy and knowledge becoming more and more important in the production and value creation progress, intellectual capital has drawn widespread attention as an independent terminology.The traditional manufacturer theory divides the element of production into three parts: the land, the labor and the capital. Here, the capital mainly refers to the financial capital or the money capital. The appearance of the intellectual capital is actually a development of the capital's definition. As a production element, the intellectual capital's role in the value creating progress of an enterprise is not inferior to any other capital which makes intellectual capital gain more and more attention in the area. Only by extracting the value created by intellectual capital can an enterprise realizes its value creating progress. This thesis is exactly studying the intellectual capital in the value extracting angle.At present, there's no common view in respect of the concept of intellectual capital among theorists and this thesis will adopt the most popular and authoritative one which describes intellectual as the summation of human capital, structure capital and relationship capital. We can show the links between the intellectual capital and the enterprise's value with a equation, namely enterprise's market value = its book value + its intellectual capital. The value comes from intellectual capital can be divided up into the direct value and the indirect value. Direct value means cash flow and indirect value means the role played by intellectual capital in enterprise's strategy.Based on explaining the links between intellectual capital and enterprise's value, this thesis exhaustively expounds the value creating potentiality of intellectual capital by using some formulas. This value creating potentiality theoretically indicates that intellectual capital can bring value to enterprise. Generally the enterprise want to...