An Empirical Study On The Relationship Between Intellectual Capital Value And Enterprise Profitability

The rapid development of the economy has brought about tremendous changes in the production and lifestyle of human beings,and the role of intellectual capital in the process of enterprise value creation has become increasingly prominent.Especially for companies in the field of high-precision technology,intellectual capital is very important.Compared with traditional physical capital,the research on the relationship between intellectual capital and enterprise profitability in our country is far from enough.Today,our country is affected by the Sino-US trade war,and cause that,the development of the electronic component industry is restricted by foreign countries to a certain extent.In order to encourage domestic electronic component companies to innovate,the state has issued a series of favorable policies.The electronic component industry is a knowledge-intensive industry.Intellectual capital will gradually increase with the accumulation of industry knowledge,so it will occupy a larger share in the electronic component industry.Besides,studying the effect of intellectual capital on enterprise profitability can also help relevant enterprises realize and improve the problems existing in the use of intellectual capital.Based on the above analysis,it is increasingly urgent to measure the impact of various elements of intellectual capital on the profitability of electronic component companies.Firstly,on the basis of referring to the relevant literature on intellectual capital,it summarizes the theoretical basis,relevant characteristics,components and the influence of each element on profitability.Secondly,it expounds and improves the VAIC model used to measure intellectual capital in practice,and provides theoretical support for subsequent empirical research.Thirdly,it takes electronic component companies as the research object,and collects the data of relevant listed companies in combination with the current results of theoretical research.And after checking the collected data of 187 electronic component companies for three years,the two-way fixed-effect model is used to empirically analyze the degree to which the profitability of electronic component companies is affected by each part of intellectual capital.Finally,it tests the stability to avoid the chance of the results.The test results show that the various factors of intellectual capital of electronic component enterprises have different degrees of impact on the profitability.The ranking of different degrees can help electronic component companies recognize the importance of each factor,which will help them optimize and improve their profitability.After an in-depth study of the various factors of the intellectual capital of electronic components companies and their interaction with the overall profitability of the company,the following results can be drawn: Physical capital,human capital and structural capital have a positive impact on the profitability of electronic components companies,while customer capital has a negative impact,which is not obvious.After the conclusions are drawn,various opinions are put forward based on the results to help the electronic component company furtherly enhance profitability.