Intellectual Capital Management and Enterprise's Performance-Empirical Evidence from the Chinese Securities Market

摘要

This paper, using the data of listed firms in the Chinese Securities Market , constructs two kinds of models by VAIC (Value Added Intellectual Coefficient), which Steven Firer (2003) uses as the assessment method of intellectual capital, and then reviews the relation between intellectual capital and enterprise's performance .We find that intelligence capital is having more and more important influence on enterprise's achievement as enterprise's another important capital apart from the matter capital . In addition, this paper also finds that using the various components of intellectual capital to analyze the relationship between intellectual capital and enterprise's performance is more convincing than using the overall intellectual capital to analyze the relationship between it and performance of enterprises.