|
Based on your IP address, your paper is being delivered by:
|
 |
 |
 |
 |
 |
New York, USA
Processing request.
|
Illinois, USA
Processing request.
|
Brussels, Belgium
Processing request.
|
Seoul, Korea
Processing request.
|
California, USA
Processing request.
|
If you have any problems downloading this paper,
please click on another Download Location above, or
File name: SSRN-id1592063. ; Size: 127K
|
|
An Empirical Investigation of the Relationship between Intellectual Capital and Firms’ Market Value and Financial Performance
Ming-Chin Chen
National Chengchi University (NCCU) - Department of Accounting
Shu-Ju Cheng
affiliation not provided to SSRN
Yuhchang Hwang
Arizona State University (ASU) - School of Accountancy
February 16, 2005
Journal of Management, Vol. 17, No. 1, pp. 99-120, 1991
Ivey Business Journal (formerly Business Quarterly), pp. 40-47, Summer 1996
Abstract:
The objective of this paper is to investigate the relationship between the value creation efficiency and firms’ market valuation as well as financial performance, using data drawn from Taiwanese listed companies. Our results support the proposition that intellectual capital has a positive impact on corporate market value and financial performance, and may be a leading indicator for future financial performance. In addition, we also found investors may place different value on the three components of value creation efficiency (physical capital, human capital and structural capital). Finally, our results suggest that R&D expenditure may capture information on structural capital and has a positive effect on firm value and profitability.
Number of Pages in PDF File: 18
Accepted Paper Series
Download This Paper
Date posted: February 16, 2010
; Last revised: April 20, 2010
Suggested CitationChen, Ming-Chin, Cheng, Shu-Ju and Hwang, Yuhchang, An Empirical Investigation of the Relationship between Intellectual Capital and Firms’ Market Value and Financial Performance (February 16, 2005). Journal of Management, Vol. 17, No. 1, pp. 99-120, 1991
. Available at SSRN: http://ssrn.com/abstract=1553893
|
| Feedback to SSRN (Beta) |
|
|
People who downloaded this paper also downloaded:
1.
The Impact of Intellectual Capital on Value Added for Brazilian Companies Traded at the BMF-BOVESPA
By
Cid Nogueira,
Herbert Kimura, ...
2.
Accounting for Intellectual Capital: On the Elusive Path from Theory to Practice
By
Andreas Andrikopoulos
3.
Intellectual Capital and Valuation: Challenges in the Voluntary Disclosure of Value Drivers
By
Richard Petty,
Suresh Cuganesan, ...
4.
Ownership Structure and Intellectual Capital Performance in Malaysia
By
Norman Mohd-saleh
and
Mara Ridhuan Che Abdul Rahman
5.
Corporate Governance, Intellectual Capital and Value Creation
By
Alfio Cariola,
Maurizio La Rocca, ...
6.
Exploring the Effects of Corporate Governance on Intellectual Capital Disclosure: An Analysis of European Biotechnology Companies
By
Fabrizio Cerbioni
and
Antonio Parbonetti
7.
Intellectual Capital and Firm Performance of U.S. Multinational Firms: A Study of the Resource-Based and Stakeholder Views
By
Ahmed Riahi-belkaoui
8.
Intellectual Capital and the Creation of Value in Brazilan Companies
By
Flavio L. Richieri,
Leonardo Basso, ...
9.
Accounting Perspective of Intellectual Capital - Perspectives Compared
By
Rosa Lombardi
10.
Intellectual Capital and Its Major Components
By
Muhammad Khalique,
Jamal Abdul Nassir Shaari, ...
|
|
|
|
