Intellectual capital and increase of organizational value

Abstract

In knowledge-based economy, intellectual capital is used to create and increase of organizational value and the position of any organization depends on managing these valuable and scarce resources. According to resource-based perspective of company, intellectual capitals are strategic resources that enable companies to create competitive advantage and better financial performance. So, the managers should measure intellectual capital as an important criterion for increasing business performance of organizations, determining the real value f intellectual capitals and even improving their control. In this paper we attempt to investigate the relationship between intellectual capital and increase of organizational value. In this research, firstly intellectual capital value of companies accepted in Tehran stock exchange in a 7 years period between 2006-2012 was calculated using VAIC model. Then, the relationship between intellectual capital and the elements of organizational value of companies was evaluated. In this study, the statistical methods used for data analysis are multiple regression and correlation coefficients. The selected sample includes 84 companies for a period of 7 years and company size, type of industry and investment intensity ratio have been considered as control variables. The findings show significant and positive relationship between intellectual capital and increase of organizational value and the positive effect of control variables on the relationship between intellectual capital and increase of organizational value. © IDOSI Publications, 2013.