上市公司智力资本对财务绩效影响研究_基于Pulic模型实证分析.pdfVIP

山/ 西/ 财/ 经/ 大/ 学/ 学/ 报 2007 11 Journ l of Sh nXi Fin nce nd Economics University Nov, 2007 29 11 Vol29 No11 上市公司智力资本对财务绩效的影响研究 基于Pulic 模型的实证分析 1 2 宁德保 , 莹 ( 1. 中国人民大学 商学院, 北京 100872; 2. 中国医疗器械行业协会, 北京 100088) [ ] 通过分析我国1 177 家上市公司2003~ 2005 年的相关数据, 对企业智力资本与财务绩效的关系进行了实证研 究, 得出企业的人力资本效率和有形资产效率与财务绩效具有正的相关性的结论, 并对我国企业的智力资本管理提出建议 [ ] 智力资本; 人力资本; 结构资本; 财务绩效 [ ] F23 [ ] A [ ] 1007- 9556( 2007) 11- 0119- 06 Research on Intellectual Capital of Chinese Listed Companies to Firms Financial Performance An Empiric l Study on Pulic Model 1 2 NING De- b o , LI Ying ( 1. School of business, Renmin University of Chin , Beijing 100872; 2. Chin Associ tion for Medic l Devices Industry, Beijing 100088, Chin ) Abstract:According with the dvent of knowledge er , intellectu l c pit l h s becomemore import nt th n ever before, nd with it, firms c n cre te more v lue nd cquire competitive dv nt ge. In this p per, the uthors n lyze 1177 firms listed in Sh ngh i nd Shenzhen stock m rket from2002- 2005 nd find th t hum n c pit l nd physic l ssets oper tion efficiency h s positive influence on fin nci l perform nce, nd lso find th t there s no evidence supporting firm s structur l c pit l h s positive influence on fin nci l c pit l perform nce. In ddition, the p per points out some suggestions for the future rese rch. Key Words:intellectu l c pit l; hum n c pit l; structur l c pit