The impact of intellectual capital on returns and stock prices of listed companies in Tehran Stock Exchange
Journal Title: Applied Science Reports - Year 2014, Vol 8, Issue 3
Abstract
Intellectual capital is an asset that measures an organization's ability to create wealth. The asset has no objective and physical nature and is an intangible asset that has been obtained through using of assets related to human resources, organizational performance, and organization’ external relations. Study the effects of intellectual capital on profitability, will review return on equity, earnings per share, the stock price on the company’s shares profit and the ratio of market value to book value of listed companies on the Stock Exchange. Statistical population of the research are the listed companies in Tehran Stock Exchange, which has been active since 2007 until 2010 in stock. Models function of the study is first degree and linear, so analysis is done in a linear regression form. To assess the significance of independent variables coefficient in each model t-statistic is used and based on the results of the statistical significance of whole regression according to f-statistic, it will decide to approve or reject hypotheses in the 95% confidence level. In order to check the normality of the dependent variable and independence of errors it is used of Kolmogorov-Smirnov Test, and Durbin-Watson d- statistic, respectively. The results showed that there is a significant positive relationship between intellectual capital (IC) and return on assets indicator (ROAi), return on equity (ROEi) and Tobin’s Q ratio of companies.
Authors and Affiliations
Azar Sharbatdar A'layi
Keywords
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- EP ID EP89072
- DOI 10.15192/PSCP.ASR.2014.4.3.150160
- Views 173
- Downloads 0
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