本文選題：智力資本　切入點：公司價值　出處：《中南民族大學》2012年碩士論文

【摘要】：曾經(jīng)風靡全球的“中國制造”近幾年來面臨發(fā)展危機，打破僵局，尋找提升公司競爭優(yōu)勢、增加公司價值的“利器”成為理論界和實踐界共同的目標。知識經(jīng)濟時代的來臨，智力資本被認為是企業(yè)價值創(chuàng)造的新推手，過去的幾十年里許多學者對于智力資本的價值進行了探索式的研究，但基于中國背景下關于智力資本與公司價值關系的研究尚不多見。本文主要研究中國創(chuàng)業(yè)板上市公司智力資本與公司價值之間的關系，因為創(chuàng)業(yè)板市場是資本市場技術創(chuàng)新和商業(yè)模式創(chuàng)新的晴雨表，在一定程度上一個國家創(chuàng)業(yè)板市場的活躍程度反映了這個國家的經(jīng)濟活力和技術創(chuàng)新水平，提升“中國制造”的新生軍在創(chuàng)業(yè)板市場，而且在創(chuàng)業(yè)板市場上市的公司基本上屬于智力資本密集型。 本文在閱讀理論文獻的基礎上，，依次對智力資本概念、構成、測量、公司價值評估、智力資本與公司價值的相關研究進行梳理，建立本文的理論模型，并以此提出假設與各項指標的設計。本文主要是探討不同公司背景下上市公司智力資本、公司價值是否存在差異，智力資本各構成要素人力資本、結構資本、關系資本和創(chuàng)新資本與公司財務價值、非財務價值之間具體關系。圍繞于此，通過調查問卷、統(tǒng)計分析進行了假設檢驗，研究結論總結如下：（1）創(chuàng)業(yè)板上市公司在公司規(guī)模、成立時間、公司性質和地區(qū)分布的背景下，智力資本與公司價值情況并未表現(xiàn)出差異性，在行業(yè)分布、公司類型的背景下差異性顯著；（2）創(chuàng)業(yè)板上市公司智力資本對公司財務價值有顯著正向影響，上市公司智力資本對促進公司財務價值的提升有著重要意義，按照與公司財務價值關系強度由大到小排列順序為創(chuàng)新資本、結構資本、關系資本、人力資本；（3）創(chuàng)業(yè)板上市公司智力資本對公司非財務價值有顯著正向影響，上市公司智力資本對公司非財務價值作用不可忽視，關系強度由大到小排列順序為關系資本、人力資本、創(chuàng)新資本、結構資本。
[Abstract]:"made in China", once popular all over the world, is facing development crisis in recent years. Breaking the deadlock, looking for the "sharp weapon" to enhance the competitive advantage and increase the value of the company has become the common goal of the theoretical and practical circles.With the advent of the era of knowledge economy, intellectual capital is regarded as a new driver of enterprise value creation. In the past few decades, many scholars have carried out exploratory research on the value of intellectual capital.However, there are few researches on the relationship between intellectual capital and corporate value under the background of China.This paper mainly studies the relationship between intellectual capital and corporate value of listed companies in gem, because gem is a barometer of technological innovation and business model innovation in capital market.To a certain extent, the activity of a country's gem market reflects the economic vitality and technological innovation level of this country, and promotes the "made in China" new army in the gem market.And in the gem market listed companies are basically intellectual capital-intensive.On the basis of reading the theoretical literature, this paper combs the related research on the concept, constitution, measurement, company value evaluation, intellectual capital and company value of intellectual capital, and establishes the theoretical model of this paper.And then put forward the hypothesis and the design of each index.This paper mainly discusses the intellectual capital of listed companies under different corporate backgrounds, whether there are differences in corporate value, the human capital, structural capital, relational capital, innovation capital and corporate financial value of intellectual capital.Specific relationship between non-financial value.Around this, through the questionnaire, the statistical analysis carries on the hypothesis test, the research conclusion is summarized as follows: 1) under the background of the company size, the time of establishment, the nature of the company and the regional distribution, the gem listed companies are listed in the background of company size, establishment time, company nature and regional distribution.There is no difference between intellectual capital and corporate value. In the background of industry distribution and company type, the difference is significant (2) the intellectual capital of listed companies on gem has a significant positive impact on the financial value of the company.The intellectual capital of listed companies plays an important role in promoting the promotion of the financial value of the company. According to the order of the relationship between the intellectual capital and the financial value of the company, the order is innovation capital, structural capital and relational capital.The intellectual capital of listed companies has a significant positive impact on the non-financial value of the company. The effect of intellectual capital on the non-financial value of the listed company can not be ignored, and the relationship intensity is arranged in the order of the relationship capital from large to small.Human capital, innovation capital, structural capital.
【學位授予單位】：中南民族大學
【學位級別】：碩士
【學位授予年份】：2012
【分類號】：F272;F832.51

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