摘要
借鉴产业经济学增长率产业分类法来界定上市公司所处的企业生命周期阶段,将企业生命周期与智力资本相结合,采用面板数据模型和平均模型相结合的方法,利用上市公司2002-2007年的面板数据实证研究不同生命周期阶段智力资本与企业绩效的关系.研究表明:不同生命周期阶段智力资本对企业绩效的作用存在差异,其中物质资本、人力资本在各阶段与企业绩效显著正相关;结构资本仅在成长阶段对企业绩效有显著的积极作用,而在成熟和衰退阶段对企业绩效存在负面影响,但统计上不十分显著.分析结果也表明:当前中国上市公司在资源利用上主要依赖于物质资本,而对人力资本的利用不够充分.
This article first uses the classification of industry by growth rate in industry economics for reference to define the life cycle stage of listed companies,then through the combination of enterprise life cycle and intellectual capital,using the combining methods of panel data model and the average model, empirical study on the relationship between knowledge capital and enterprise performance in different stages of the life cycle using the 2002-2007 panel data of the listed companies.Research result shows that the role of intellectual capital on enterprise performance are different in the different stages of enterprise life cycle,in which physical capital,human capital have a significant positive impact on enterprise performance at all stages of enterprise performance while the structural capital only has a significant positive impact on enterprise performance at the growth phase and has a negative impact on enterprise performance at the mature stage and decline phase but not significant.The results also show that on the use of resources China＇s listed companies mainly rely on the use of physical capital but the use of human capital is inadequate.
出处
《系统工程理论与实践》
EI
CSSCI
CSCD
北大核心
2010年第4期577-586,共10页
Systems Engineering-Theory & Practice
基金
国家自然科学基金创新群体科学基金(70921001)
教育部人文社会科学基金青年项目(09YJC790262)
湖南省社会科学基金(09YBA162)
国家自然科学基金(70902073)
关键词
智力资本
企业绩效
企业生命周期
实证研究
knowledge capital
enterprise performance
factor analyze
enterprise life cycle
empirical study
