Capitals Attributes and Firms Value

Subject Areas :

Farzin Rezei ¹ ( استادیار دانشگاه آزاد اسلامی واحد قزوین )
Bita Dehghan Khanghahi ² ( دانشجوی کارشناسی ارشد حسابداری دانشگاه اموزش عالی رجا قزوین )

Received: 2015-05-09 Accepted : 2015-05-09 Published : 2012-08-22

Keywords: Intellectual Capital, relational capital, structural capital, Human Capital, Life Cycle,

Abstract :

The main objective of this paper is to examine the incremental information content of intellectual capitals of the firms listed in Tehran Stock Exchange according to the life cycle stages. Research samples included 74 firms during 1381-1387. The results of hypothesis testing utilizing "multiple regression method" suggests that attributes of intellectual capital don’t have incremental information content regarding firm's market values. The relative information content of the attributes of intellectual capital however is different at each stage of life cycle. Other results indicate that the highest correlation between the firm market value and intellectual capital is in the adolescence stage and in the next step the highest correlation is in the growth stage and the lowest correlation is in the decline stage.

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