Abstract
Article history: Received June 28, 2013 Received in revised format 19 October 2013 Accepted 23 October 2013 Available online December 9 2013 This paper presents an empirical investigation to study the relationship between intellectual capital and investment opportunities on selected firms listed on Tehran Stock Exchange (TSE) over the period 2005-2011. In our survey, Tobin Q represents investment opportunity and intellectual capital is measured based on different variables such as value added intellectual capital and human capital. The study uses regression technique with panel data and random effect and the results indicate that there was no meaningful relationship between intellectual capital and investment opportunity. In other words, most investment opportunities on TSE do not depend on intellectual capital and they mostly depend on traditional methods of investment.
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