دانلود Intellectual Capital and Company Value

Abstract

The  bulk  of  traditional  corporate  valuation  methods  reflect  historical  performance,  while  it  is  necessary  to  also  take  into  consideration the value which is off-balance-sheet and possible growth. Large differences exist between company market and book value, and a part of this can be explained by intellectual capital. The aim of the study is to make an empirical investigation of  the  impact  of  intellectual  capital  on  company  value.  Empirical  results  show  that  one  can  find  mixed  results  regarding  relationship between value added intellectual coefficient VAIC^TM and company value.