我国上市公司智力资本效率差异的实证分析

Empirical Analysis on Intellectual Capital Efficiency Differences of Listed Companies in China

智力资本作为战略资源已成为企业创造价值和获得持续竞争优势的重要源泉。我国企业的智力资本价值创造能力现状如何,不同行业以及不同企业是否具有较大差异,本文根据pulic模型,用智力资本效率系数(ICE)对智力资本增值的效率进行衡量,并以上市公司2003年至2007年的相关数据为研究对象,对不同行业以及不同企业的智力资本效率进行了实证分析,发现各行业智力资本效率具有较大差异,行业内各企业的智力资本效率也存在较大差异。并分析了形成差异的原因,进而为我国强化智力资本管理、提升智力资本价值创造能力提出了相关建议。

Intellectual capital has become a strategic resource for the enterprise to create value and sustain competitive advantages. What is the practice of enterprises’ability to create value from the intellectual capital in China? Is there a great difference in different industries and different companies? Based on pulic model, with intellectual capital efficiency coefficient (ICE) to measure the efficiency of intellectual capital’value- added and more than one thousand China’s listed companies’relevant data from 2003- 2007 as the research object, we carried out an empirical analysis on the efficiency of intellectual capital of different industries and different enterprises in the paper and found that the efficiency of intellectual capital is various in different industries and different en- terprises in a industry. We analyzed the reasons for the differences, then provided relevant suggestions for the country to strengthen the management of intellectual capital and enhance its capacity of creating value.