Research On Intellectual Capital-driven Model Of China Listed Companies

With the development of knowledge economy, knowledge is gradually becoming one of the important strategic resources with the tendency of replacing the traditional production factors. The intellectual capital management, which plays an important role in the corporate value creation, has attracted more and more attentions in today's international businesses, research institutions and international organizations. This paper aims to explore the drivers affecting the intellectual capital of Chinese listed companies so as to better understand the intellectual capital structure of Chinese enterprises, and also provide advice of intellectual capital management for Chinese listed companies.In this paper, we make the literature review of the development and the connotation of intellectual capital, and propose the conceptual model and research hypothesis. This study takes intellectual capital-driven model as the breakthrough point, analyses Bannany model, discusses the drivers of intellectual capital, inspects the impact of intellectual investment, intangible assets efficiency and profitability upon intellectual capital. We introduce the variable of marketing ability, and discusses its impact on intellectual capital.The study chooses VAIC to measure the intellectual capital of 41 Chinese listed companies. In the empirical analysis, we make the data processing upon the model assumptions based on SPSS13.0. And we get that a positive impact do exist between the three variables on the intellectual capital. After we introduce the variable of the marketing ability, empirical analysis shows that the explain ability of intellectual drive model has increased and the total four model assumptions meet the needs.Finally, we discuss the research findings and put forward some improved suggestion for the intellectual capital development of Chinese listed companies so as to raise the intellectual capital level.