An Analysis Of The Value Contribution Of Intellectual Capital From The Perspective Of Enterprise Life Cycle

In the current society,firms become more and more rely on intellectual capital to get competitive advantage to competitive with counterparts.Therefore it is necessary to investigate into the intellectual capital in firms.The current study are usually focused on concept,construction and measurement of intellectual capital itself,and also,the target firms are high-tech.The paper investigate into the relationship between intellectual capital and firm performance in manufacture firms lying different life-cycle parts.In the first paragraph the background and necessary of this paper is given,and the literature about core concept and basic theory is combed in the followed paragraph.Then the paper combs the literature of the relationship between intellectual capital and perf-ormance.Based on the existing study,the paper gives its four hypothesis,and test them in HLM method.In this paper,manufacturing listed companies are selected as the research object.From the view of enterprise life cycle theory,structural equation model is used to analyse the relationship between intellectual capital and enterprise performance,the results of the study believes that intellectual capital includes human capital,structure capital and the relational capital.each part of intellectual capital at different part of life cycle stage of corporate performance has different degrees of contribution.In growing stage of the life cycle,human capital in manufacturing enterprise has slightly higher degree of contribution than relation capital and structure capital to enterprise performance.In the enterprise's maturity stage,the relationship between the human capital and the enterprise performance is higher than the structure capital and human capital.Whereas in the recession phase of the enterprise,the structure capital contributes more to enterprise performance than the human capital and relational capital.This paper argues that manufacturing enterprises should pay attention to the development and maintenance of intellectual capital,especially in the different stages of life cycle to increase business performance.The paper enriches the existing research results,and investigate the relationship between intellectual capital and performance from perspective of enterprise life cycle with the method of using structural equation model.Compare different dimensions of intellectual capital respectively with the corporate performance and result shows that at different stages of life cycle,different part of intellectual capital constitutes to enterprise performance differently.The paper is a complement to the existing research,and provides the manufacturing enterprises at different life cycle stage intellectual capital development strategy choice as reference.