خلاصة:
The purpose of the present study is to investigate the relationship between intellectual capital (human capital efficiency, customer capital efficiency, and structural capital efficiency) and economic value added of the listed companies on the Tehran Stock Exchange (TSE). The population includes 39 firms selected through systematic sampling. The data is collected from the audited financial statements of the firms provided by TSE’s website from 2007 to 2010. The results of multiple linear regression analysis show that there is a significant relationship between financial performance of firms and intellectual value added, intellectual capital efficiency, relational capital efficiency, human capital efficiency, structural capital efficiency, and economic value added. However, the results of fuzzy regression analysis indicate significant relationships between the financial performance of firms and all the independent variables except structural capital efficiency and economic value added.
ملخص الجهاز:
M. A Holder in Management, Islamic Azad University, Mashhad Branch, Mashhad, Iran (Received: 8 May 2013 - Revised: 24 December 2013 - Accepted: 7 January) Abstract The purpose of the present study is to investigate the relationship between intellectual capital (human capital efficiency, customer capital efficiency, and structural capital efficiency) and economic value added of the listed companies on the Tehran Stock Exchange (TSE).
The results of multiple linear regression analysis show that there is a significant relationship between financial performance of firms and intellectual value added, intellectual capital efficiency, relational capital efficiency, human capital efficiency, structural capital efficiency, and economic value added.
However, the results of fuzzy regression analysis indicate significant relationships between the financial performance of firms and all the independent variables except structural capital efficiency and economic value added.
Zeghal and Maaloul (2010) studied the effect of intellectual capital on economic, financial, and stock market performance of UK companies.
Mosavi (2012) examined the relationship between the components of intellectual capital and market value and financial performance.
99 Inferential statistics In the regression model, the effect of the independent variables (EVA, CEE, HCE, SCE, ICE, and VAIC) on the financial performance of the sample firms is examined.
287 Rejected Notes: Dependent variable: ROA Based on the results of fuzzy regression analysis, there is a significant relationship between ICE, EVA, and financial performance and the second hypothesis.
287 Rejected Notes: Dependent variable: ROA Based on the results of fuzzy regression analysis, there is a significant relationship between CEE, EVA, and financial performance.