The Research On The Factors Influencing The Value Creation Of Intellectual Capital

With the development of the knowledge economy, the role of intangible resources becomes more and more obvious for creating value. Especially in the high-tech industry, the value of the tangible assets, for example knowledge, technology and other intangible resources, has far exceeded the visible value owned by the enterprise. The concept of intellectual capital is gradually coming into view, and got focus. Since Senior defined the concept of intellectual capital in1836, the research for intellectual capital has gradually become more standardized and systematic. Viewed from the current study,although not forming a system, the study of the intellectual capital focused more on intellectual capital itself, including the definition of the concept and scope, the analysis of its composition and its measurement methods. Besides, the birth of the intellectual capital is closely linked to the value, so that study of the relationship between them is absolutely becomes popular.Compared with the previous paper, this paper focused more on the analysis of the ability that the intellectual capital has to create value. Introducing the time factors and financial factors makes time period data analysis more in line with the dynamic characters for the development of the intellectual capital. What is more, this paper paid more attention to the analysis for the potential ability and risk of the intellectual capital to create value. Due to my limited research level, the use of the variables and indicators are a little less in the analysis process from the horizontal and vertical of intellectual capital to create value.This paper started from the point of view of intellectual capital and value, and selected quantitative research methods, and analyzed the main factors to affect the intellectual capital to create value from the view of both transverse aspects and longitudinal aspects. The influencing factors on the transverse aspect starts from financial situations, while the influencing factors on the long itudinal aspect starts from time situations. Based on the data from China’s IT GTA database,I chose the listed IT company during2006and2011as my example, and carefully selected and clarified the relate data. I also use the I improved Tobin Q value to measure the ability of the intellectual to create value. Based on the research, we found that there is no positive relation between the time factor and the ability of the intellectual capital to create value, on the contrary, there is a weak negative relation between them, Which means that for IT class enterprises with the development of the company, the ability of the intellectual capital to create value is not necessarily become more powerful, even become weaker. From a financial perspective, the factors that influence the intellectual capital to create value is the financial ability of the long-term solvency and profitability. I also got the discriminate function, with this function we can classify unknown data under observations. As a result, we can simply predict the ability of the enterprise intellectual capital to create value.