The Research Of The Value-Relevance Between Intangible Assets And Operating Performance Based On IT Industry

Intangible assets play an important role in the process of enterprise value creation for its nature and particularity. Theoretically, based on the Enterprise Value Creation Theory, this thesis analyzes the interaction between intangible assets and the process of how intangible assets contribute to enterprise value, which improves the theory of the intangible assets'contribution to the enterprise value. Practically, the paper analyzes the value-relevance of the intangible assets and operating performance of the enterprise. The intangible assets are divided into different categories of intangible assets, the technical intangible assets, the right intangible assets and the other intangible assets, then the paper makes a deep analysis the value-relevance of the different types of intangible assets and operating performance of the enterprise, which is contribute to intangible assets investment and management.This paper uses summary of analysis method, theoretical analysis method, comparative analysis method and empirical research method, the paper mainly divides into five sections.The first section of this paper redefinition the concept of intangible assets bases on different perspectives, then analyzes the nature and characteristics of intangible assets. And the intangible assets are divided into technical, right and other intangible assets. The second section is about the intangible value creation theory, from value drivers and value of inhibitory factors. After that is the introduction of the value of intangible assets contributed to the enterprise. The third section is about the indicators of intangible assets descriptive statistical analysis in IT Industry. It is including the internal composition of intangible assets, M/B etc.The fourth section is about the empirical research on value-relevance of the intangible assets and operating performance of the enterprise. It uses Principal Component Analysis Method and Pearson Correlation Coefficient Method to analyze the value-relevance of the different types of intangible assets and operating performance of the enterprise. In conclusion: value-relevance of the intangible assets and operating performance of the enterprise is not significant in IT Industry. It is because the value-relevance of technical intangible assets and operating performance of the enterprise show a significant positive correlation, however the value-relevance of right intangible assets and operating performance of the enterprise show a significant negative correlation.