Intellectual Capital and Enterprise Performance: An Empirical Study in Taiwanese High-Tech Industry

智慧資本與企業績效：台灣科技產業之實證研究

10.6186/IJIMS.2012.23.3.1

蔡明田(Ming-Tien Tsai)；汪仲仁(Chung-Jen Wang)

智慧資本 ； 市價對帳面價值比 ； 企業績效 ； Intellectual capital ； market-to-book ratio ； performance

International Journal of Information and Management Sciences

23:3（2012 / 09 / 01）

241 - 256

英文

智慧資本已經普遍被認為是幫助企業達到競爭優勢的關鍵資源，然而，卻少有研究進行探討有關智慧資本的關鍵元素，並運用其協助企業的生存與發展。本研究的目的是檢視如何運用智慧資本來提升台灣高科技產業的企業價值，透過2009年到2010年臺灣證券交易所285間上市高科技公司的財務報表歷史資訊，運用市價對帳面價值比來衡量公司績效表現並檢視其與智慧資本的關係，實證研究結果顯示智慧資本與企業績效表現之間確實存在顯著的正向關係。因此，若企業能夠了解並重視智慧資本的重要性，將可藉此提升公司價值、幫助公司資源獲得最有效運用、並且在瞬息萬變的商業環境中建立並保持企業的競爭優勢。

Intellectual capital has been widely recognized as a critical resource that can help firms achieve competitive advantages. However, little research has been carried out regarding the key elements firms should develop and value to build their intellectual capital. The purpose of this study was to examine how intellectual capital can contribute to the corporate value of high-tech companies in Taiwan. With the historical financial data of 285 high-tech companies listed on the Taiwan Stock Exchange (TWSE) from 2009 to 2010, this study measured company performance based on the market-to-book ratio, and examined its relationship with intellectual capital. The results show a direct and positive relationship between intellectual capital and corporate value. Therefore, a greater understanding of the importance of intellectual capital will contribute to corporate value, help optimize the use of resources, and work to build and maintain competitive advantages in a rapidly changing business environment.

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