The Relationship Between Intellectual Capital and Enterprise Value Of Domestic Banks
| Autor: | Yun-hua Chang, 張韻華 |
|---|---|
| Rok vydání: | 2006 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 94 Because traditional financial accounting is limited by theories and is unable to evaluate the intangible assets fairly and objectively, one unreasonable phenomenon occurs that the market value of an enterprise is several times higher than the net asset of an enterprise. Assets, such as patent right, patent technology, goodwill, operation procedure, outstanding research and invention groups, are the cores for creating the value of an enterprise; however, these factors cannot be shown by numbers on the present financial statements. As a result, outside users cannot realize the business value by analyzing financial statements, and insiders probably misjudge the value of intangible assets to an enterprise. Galbraith is the first person who proposed the idea of intellectual capital in 1969 which is mainly used to account for the discrepancy between market value and book value. Generally speaking, scholars regard those cannon be revealed in the financial statements as intellectual capital. Through research and design, this study divides the intellectual capital of financial industry into human capital, customer capital, productivity and quality capital, and risk management capital. Also by referring to scholars’ literature and the characteristics of the industry, it attempts to find the benchmarking to evaluate these four classifications of the intellectual capital. Moreover, regarding economic value added as the proxy of the value of an enterprise and after collecting data, we figure out the connection between the intellectual capital and the value of an enterprise by using regression mode. Our experimental result shows a significant correlation between each index of the intellectual capital and the value of an enterprise. For example, in human capital, although the financial industry does not possess highly-concentrated characteristic as high technological industry, the financial industry has developed as a sophisticated one with the development of knowledge-based economy and competition among enterprises. In productivity and quality capital, it is confirmed that the managers must be devoted to scheming the cost and controlling the expenses, and absolute connection between output and profits will be revealed. In customer capital, business in the financial industry is usually homogeneous but not heterogeneous and its customers lack loyalty. So the financial industry should know its customers well to maintain the market share. In risk management capital, the management and control of the risk has been a much more concerned issue in banks, and each bank resort to every conceivable means to consolidate the control of the risk by all sorts of inner control mechanism, finding a best ratio among ratio of NPL, capital adequacy ratio. More easily reaching the goal of the maximum of the profit than the respective intellectual capital, the whole intellectual capital manifests synthetic effects of mutual interplay among each subgroup of the intellectual capital, creating the value of an enterprise. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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