The Relationship between Firms’ Intellectual Capital and Performance -- An Empirical Investigation of Taiwanese IC Design Houses

• Main Authors: PAO-CHU CHUNG, 鐘寶珠
• Other Authors: CHYAN YANG
• Format: Others
• Language: zh-TW
• Published: 2007
• Online Access: http://ndltd.ncl.edu.tw/handle/46831329707390490585

碩士 === 國立交通大學 === 管理學院碩士在職專班經營管理組 === 95 === The purpose of this study is to investigate empirically the relationship between firms’ intellectual capital and performance for IC design house industry in Taiwan, which is the typical industry that owns the intellectual capital as their core competence. This study adopt the model-Value Added Intellectual Coefficient (VAIC™) as the measure index for Intellectual Capital which was conducted by Ante Pulic and adopted by intellectual capital research center-AICRC in Austria. The study is by using the regression models to examine if there is positive correlation between firm’s intellectual capital and performance indexes- market-to-book value ratio (M/B) and Tobin’s q value. Besides, this study also examines if these two components of intellectual capital- the proxy of the human capital and structure capital have significant impact on intellectual capital indexes-ICE and VAIC. And it also impact on firm’s performance. The empirical results support the hypotheses that firms’ intellectual capital has positive impact on the firm’s performance. We found that some key intellectual capital indicators have great impact on the firm’s performance indexes- M/B and Tobin’s q value for Taiwan’s IC design house including the value added per employee (positive), the percentage of high education employee (positive), the average age of employee (negative) and the sales growth rate (positive). Besides, there are two additional indicators significant impact on Tobin’s q value as well they are the percentage of R&D employee (negative) and the average sales per employee (negative). Moreover, the value added per employee has positive impact both on ICE and VAIC™ values. Finally, there are two additional indicators significantly impact on VAIC™ value which are the sales growth rate (positive) and the productivity of R&D (positive).