Measuring the level of intellectual capital and studying its effect on firm value by using the Q-Tobin model for companies accepted in Stock Exchange in Tehran
Journal Title: International Research Journal of Applied and Basic Sciences - Year 2015, Vol 9, Issue 11
Abstract
The rise of the “new economy”, one principally driven by information and knowledge, is attributed to the increased prominence of intellectual capital (IC) as a business and research topic. Intellectual capital is implicated in recent economic, managerial, technological, and sociological developments in a manner previously unknown and largely unforeseen. As the gap between firm value and book value of company’s increases, various researches about recognition of factors eliminated from the financial statements have been performed and developed. Value and the level of intellectual capital in organizations is one of the effective components on firms' value, but it isn't presented in financial statements. The present research aims at not only measuring the level of intellectual capital and firms' value, but also studying the effect of intellectual capital on firm value. Statistical universe of this research is the companies accepted in Stock Exchange in Tehran. This research has been carried out among 132 companies accepted in Tehran Stock Exchange between 2008- 2013 by Regression Analysis Method using SPSS19 Eviews6 software. Data gathering instrument in this research includes referring to financial recorded information, evidence, and backgrounds of companies in Rahavard Novin Software and Stock Exchange Organization's website. The results obtained from this research show that there is a significant correlation between intellectual capital (as an intangible asset) and firm value. There is also a meaningful relationship between the efficiency of human, structural, and applied capital in one hand and intellectual capital in studied companies on the other hand.
Authors and Affiliations
Hamideh Nejati| Department of Accounting and Mangment ,hamedan branch, islamic Azad University , Hamedan,iran, email: Hamide.nejati@yahoo.com, Reza Pirayesh| Assistant Professor of Management, Accounting, and Economy majors in University of zanjan
Keywords
Related Articles
- EP ID EP7190
- DOI -
- Views 315
- Downloads 24
The Relationship between cash Flow Volatility and Capital Structure in Tehran Stock Exchange
Company's capital structure is under influence of a variety of factors, which fluctuations in cash flow has been mentioned as one of these factors. There are different points of view on how the change in operating cash f...
Predicting Psychological Resilience Based on Parenting Styles in Girl Adolescence
One of important features for reaching achievement and facing risky challenges in future is resiliency. The present research is aimed to study the relation of resiliency among girl adolescents based on parenting styles o...
Analysis and investigation of the communication structure in literatureIntroducing the structure of communication-promotion in Masnavi-Manavi
Traditionallinguisticstudies' fieldorrhetoricwith contemporary linguistic studies' field is in relation to each other that it can be named as communication rhetoric. Also, in MasnaviManavi, language rhetoric is formed ba...
Green Marketing: A System Dynamics Approach
Marketing has an important role in living and consumption pattern. Regarding to the importance of trading, social responsibilities should be attentioned. This fact is caused by consumers concern about environment which m...
Attitudes of Payme Noor University Students toward Distance Education
This paper examines the distance education students’ attitudes at the Payame Noor University of Iran toward distance education. The statistical universe of the study consisted of 7831 students of Payame Noor University,...