智力资本对企业绩效贡献的实证研究——基于分位数回归的两行业对比分析

Empirical Study on Contributions to Corporate Performance by Intellectual Capital——Comparative Analysis to the Two Industries Based on Quantile Regression

本文以2005-2007年度我国的信息技术业和纺织服装业上市公司为对象,运用分位数回归分析了智力资本与企业绩效之间的相关性,并作了横向比较。实证结果表明,在两行业中的物质资本和人力资本与企业绩效间有不同程度的正效应,结构资本对纺织服装业的绩效具有正效应,只有业绩最好的信息技术业公司中结构资本才对企业绩效有显著正效应。

Based on information technology industry and the textile ＆ garment industry of Chinese listed company in 2005-2007, this paper analyzes the correlation between intellectual capital and enterprise performance by using the method of quantile regression, and makes a horizontal comparison between the two industries. The empirical results indicate that physical capital and human capital have different degrees of positive effects on business performance of the two industries, structure capital plays a positive role in corporate performance of the textile ＆ garment industry. Only in the information technology companies with best performance can structure capital has a significant positive effect on performance.