智力增值系数（VAIC）的真正含义研究

摘要

The true meaning of value added intellectual coefficient is analyzed in-depth through exploring Pulic model, value-added intellectual coefficient (VAIC) and relationship between VAIC and other performance measurement. The results showed that intellectual capital, human capital and structural capital in VAIC are different from their meaning of Skandia Navigator. Moreover, VAIC is not intended to measure the value of intellectual capital, but measure value created by intellectual capital. VAIC from the perspective of stakeholders to measure value creation, is a performance measure, so it can complement the existing performance measurement method.%本文通过分析Pulic模型、智力增值系数（VAIC）和其与其他业绩衡量指标之间的关系深入剖析了智力增值系数的真正含义。结果表明智力增值系数中的智力资本、人力资本和结构资本与Skandia导航仪和智力资本研究界一般所定义的含义不同，并且VAIC不是用来量度智力资本的价值，而是量度智力资本所创造的价值，是一种从利益相关者角度来衡量价值创造的业绩衡量指标，是对现有的业绩衡量方法的补充。