The Effect of Intellectual Capital on Q-Tobin Ratio(Q) Empirical Evidence: Pharmacy Firms Listed

Subject Areas :

Roya Darabi ¹ , Sedigheh Kamran Rad ² , Hamid Sayeed Jarahi ³

1 - استادیار دانشگاه آزاد اسلامی واحد تهران جنوب
2 - عضو هئیت علمی دانشگاه پیام نور
3 - کارشناس ارشد حسابداری دانشگاه پیام نور

Received: 2015-05-08 Accepted : 2015-05-08 Published : 2013-08-23

Keywords: Tehran Stock Exchange, Intellectual Capital, Q-Tobin Ratio, Pharmaceutical Industry,

Abstract :

In the present era with growth of knowledge-based economy, companies intangible assets and intellectual capital are keys to achieving sustainable competitive advantage. Intellectual capital literature overview, demonstrate considerable attention to assessment, valuation and reporting it. Considering the growing importance of this category of knowledge management, in this study, first, intellectual capital of pharmaceutical companies calculated with using the Pulic model in five-year over the period 1383 to 1387 and then review the effects of three variables formed the intellectual capital including human capital, communication/customer capital and structural capital on the q-tobin ratio(Q) as a measure of corporate performance. Descriptive study methods- qualitative and as objective, is applied. For evaluating of intellectual capital and q-tobin ratio(Q), necessary data was gained out of the financial statement of the companies and Tadbirpardaz and Rah avard novin software. The results of the study show that independent variables of communication/customer capital and structural capital had positive effect on q-tobin ratio(Q) but the independent variable of human capital had negative effect on q-tobin ratio(Q) of the companies understudy.

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