The Relationship between Intellectual Capital and Corporate Performance in Chinese Bio-pharmaceutical Industry

Abstract

With the advent of the knowledge economy, intellectual capital is playing an increasingly important role in the enterprise. Research on the relationship between intellectual capital and corporate performance has important theoretical and practical significance for enterprise to manage and use intellectual capital. Paper selected bio- pharmaceutical A-share listed companies' data from 2008~2012, and used the method of factor analysis and correlation analysis to verify the relationship between intellectual capital and corporate performance. According to the results, the following conclusion can be made. In bio-pharmaceutical industry, intellectual capital and corporate performance have significant positive correlation, but the degree of correlation is weaker than physical capital. Human capital and structural capital have significant positive correlation with corporate performance. Customer capital and corporate performance are positive related, but not significant. The various components of intellectual capital impact each other, and produce an effect on corporate performance together.