Effects Of Intellectual Capital On Enterprise Growth Exampled By Pharmaceutical Listing Corporation From The Perspective Of Life Cycle

Intellectual capital in the knowledge economy era has been the role is very important, manyChinese and foreign scholars have conducted research on it, the intellectual capital with itsheterogeneity as unique enterprise, create economic benefits and added value for theenterprises. Intellectual capital by some scholars regarded as strategic resources, and cancreate competition for the organization, can let the enterprise keep advantage in the fiercecompetition in the market. This enterprise with endogenous growth theory view coincide,intellectual capital is the enterprise product its own long-term accumulation, is the drivingforce for growth, it can be said that intellectual capital is to promote the growth of enterpriseendogenous force. China is a country with a large population, food and drug safety and stablerelationship to the whole of each person’s health, especially the safety of drugs, is animportant target of government regulation. Medicines Co developed products need to researchand development of high-tech personnel, determine its development characteristics. Researchand development needs of knowledge type talents, reform in the pharmaceuticalindustry and is the focus of the work of the government, the pharmaceutical enterprises mustabide by the laws and regulations and its characteristics can be long lasting and stabledevelopment. In this paper, the intellectual capital as the starting point, to explore theinfluence on the enterprise life cycle from the perspective of intellectual capital on the growthof pharmaceutical listing Corporation. Firstly, the domestic and foreign related intellectualcapital related studies were reviewed, introduced the enterprise growth theory, and from theenterprise endogenous growth theory perspective and important characteristics of theintellectual capital intellectual capital analysis of what are the effects on the growth ofenterprises will be, and then introduced the enterprise life cycle theory literature, andconcerns the life cycle of enterprise division. This paper determined the evaluation index ofpharmaceutical enterprises growth from financial angle, using the method of comprehensiveindex, establishing the evaluation system, try from the characteristics of pharmaceuticalenterprises set index, selects73Medicines Co in China for six consecutive years of data forthe study sample, with the theory of intellectual capital based on three factors, intellectualcapital measurement selection VAIC method, and explore by using empirical method, provedindifferent stages of enterprise intellectual capital development impact on the growth ofpharmaceutical enterprises. Correlation analysis was performed on all variables, obtains thecorrelation between different variables, the growth period of sample enterprises, betweenmaterial capital, intellectual capital, human capital and relationship capital and business growth are positive relationship, but significantly different, only the structure of capital andgrowth there is a negative correlation between. Intellectual capital and the growth of themature firms owned by the material capital, human capital, structure capital, relationshipcapital and static concept have positive relationship. In a recession period and physical capitaland intellectual capital, human capital, structural capital and relational capital still existspositive relationship. Enterprises intellectual capital and the presence of growth betweenthe significant positive correlation, and the theoretical analysis is consistent, there is also apositive correlation between material capital and business growth, but not significantly. Thereis a significant positive relationship between the relation of the enterprise capital andenterprise growth, between the growth of human capital and structural capital and enterprisehas positive relation but not significantly. Mature enterprise intellectual capital and thepresence of growth between the significant positive correlations, there is also a positivecorrelation between material capital and business growth, but not significantly. There is asignificant positive relationship between the relation of the enterprise capital and businessgrowth, growth of human capital and structural capital and enterprise has positive relation butnot significantly. Enterprise material capital and the presence of growth between thesignificant positive correlation, and the theoretical analysis is consistent, there is a significantpositive relationship between enterprise human capital, material capital and the growth of theenterprise, have the reverse relationship between the growth of structure capital, relationshipcapital and enterprises.