圈层结构视角下无形资产内在转化机制研究

Research on intrinsic transformation mechanism of intangible assets under the perspective of concentric-zoned structure

无形资产对于提升企业核心竞争力,推动企业可持续发展具有重要的战略作用。然而已有文献在无形资产构成要素的转化研究方面存在不足。因此,本文将圈层结构理论引入无形资产管理领域,构建了由人力资本学习能力驱动的、由内而外逐层转化的无形资产圈层结构体系。另外,本文以我国A股高科技制造业企业2011—2019年数据为样本,构建了多元线性回归模型对这一圈层关系进行了实证检验,并探究了综合成本对这一关系的影响。实证结果表明无形资产内部具有由“人力资本类无形资产—技术类无形资产—商誉类无形资产”逐层转化的圈层特征。进一步研究发现,在综合成本上涨的背景下,人力资本类无形资产向商誉类无形资产的转化过程得到了进一步强化。在考虑自变量滞后一期、更换模型检验方法等稳健性检验后,上述结论依然成立。本文将圈层结构理论与无形资产研究相结合,从圈层结构视角出发进一步厘清了企业无形资产内部构成的转化机制和路径。研究结论在扩展无形资产的相关理论研究、深化无形资产内在转化机制的理解方面做出了贡献。

Intangible assets play an important strategic role in enhancing the core competitiveness of enterprises and promoting their sustainable development.However,existing literature is limited in the field of transformation of the components of intangible assets.Therefore,this study introduced the concentric zone theory into the field of intangible assets management,and constructed a concentric-zoned structure system of intangible assets driven by the learning ability of human capital and transformed layer by layer from inside to outside.In addition,this paper constructed a multivariate linear regression model to empirically test this concentric-zoned relationship and explored the impact of comprehensive cost on this relationship by taking the 2011-2019 data of China′s A-share high-tech manufacturing firms as a sample.The empirical results showed that the intangible assets have the characteristic of“concentric zone”which is transformed in the sequence of“human capital-based intangible assets—technology-based intangible assets—goodwill-based intangible assets”layer by layer.Furthermore,this study found out that the transformation process from human capital-based intangible assets to goodwill-based intangible assets is further intensified in the context of rising comprehensive costs.These findings still hold after considering the results of robustness tests such as one-period lags of independent variables and the replacement of model test methods.The innovation of this paper is that it will combine the concentric zone theory with intangible assets research,and further clarify the transformation mechanism and path of the internal composition of enterprise intangible assets from the perspective of concentric-zoned structure.This paper is of great significance for intangible asset management and theoretical research.