The Investigation the interactive effect of intellectual capital and investment efficiency on firm value in Tehran stock exchange

Sarbazi Azad, Sadegh

doi:10.22054/qjma.2020.7850.1280

The Investigation the interactive effect of intellectual capital and investment efficiency on firm value in Tehran stock exchange

Document Type : Research Paper

Author

sadegh sarbazi azad

https://doi.org/10.22054/qjma.2020.7850.1280

Abstract

Today's knowledge-based economy represents a great change and shift from financial resources to knowledge. Although the role of physical and financial assets in order to achieve the organization's objectives can not be denied, but what is important is that today's science, technology, good customer relations, information systems,... those constitute organization’s Intellectual Capital, are known as key success factors in information era. It’s believed that intellectual capital, including human capital and structural capital, has important and growing role in firm’s performance and affects on it’s financial achievements. This study examined the interactive effects of intellectual capital and its components on the value of the investment efficiency of listed companies in Tehran Stock Exchange. To do so, The information of 105 companies during 1388 to 1393 were selected from companies listed on the stock exchange. The results of the study indicate a significant and positive relationship between Interactive effects of the coefficient value added and intellectual capital and its components including efficiency of communicational and structural capital and investment efficiency on the value of the company.

Keywords

Intellectual capital

Human Capital

structural capital

firm value

investment efficiency