The Study of the Relationship Between Intellectual Capital and Financial Performance of the Listed Companies in Tehran Stock Exchange

Ali Daneshi,Ali Pirzad,Isa Bakhtiyari Mansourabad

doi:10.19026/rjaset.6.3892

Abstract

In this current research, the relationship between intellectual capital and some financial ratios of listed companies in Tehran Stock Exchange were studied and wanted to find out whether there is any relationship between intellectual capital and some financial performance such as Return on Assets, Return of Equity, net profit margin ratio to sales and each share price ratio to earning among the listed companies in Tehran Stock Exchange in the first place and which ratio has the more significant relationship to intellectual capital in the second place. Intellectual capital means a part of a company total capital or asset which is knowledgebase and the company is its owner. In an overall classification, intellectual capital includes three parts which are called human capital, structural capital (organizational) and customer capital (relationship). In this research, deductive-inductive method was used and library method-Stock Exchange archive-was utilized in order to acquire the needed data for theoretical issues and financial data based on the audited financial statements of under study companies. In order to do this study, the above mentioned ratios were compared with intellectual capital during the research years. By analyzing the acquired data during a 5 year period 2008 to 2012, the results of the study with showed that intellectual capital has got a considerable influence on some financial ratios of the listed companies in Tehran Stock Exchange.

Highlights

The world exchange level and movement towards knowledgebase economy has resulted in a paradigm shift of the regnant economy and the age came to an end when the manager played the role of finding a way to make an optimum combination of products and target markets and to eliminate the obstacles before entering products to these markets and we can see the knowledgebase and data-based economy which is based on intangible assets and intellectual capital
There is a significant relationship between intellectual capital and ratio of net profit margin to sales in 2009
After analyzing data, the hypotheses were tested as follows: The first main hypothesis: There is a significant relationship between intellectual capital and ratio of net profit margin to sales for the listed companies in Tehran Stock Exchange

Summary

Introduction

The world exchange level and movement towards knowledgebase economy has resulted in a paradigm shift of the regnant economy and the age came to an end when the manager played the role of finding a way to make an optimum combination of products and target markets and to eliminate the obstacles before entering products to these markets and we can see the knowledgebase and data-based economy which is based on intangible assets and intellectual capital In such an atmosphere, intellectual capital and organizational knowledge have been considered more as competitive advantage. Parker (1996) believes that in current comparative markets in which the organizations goals is to achieve more market share through creating comparative advantages, an organization success relates to utilizing and managing intellectual knowledge and capital all over the organization

Methods

Results

Conclusion