The Investigation of Relationship between Intellectual Capital and Financial Performance in Companies on Stock Exchange

Today knowledge as the most important capital is replaced for physical capital especially in comparative and technological environments. Therefore the conception of intellectual capital has important and wide usage. Intellectual capital is appeared in customers, processes, information, brand, human resources, and organization systems and plays an extreme role in creation of constant comparative advantage. This research studies about the relationship between intellectual capital and financial performance. For this purpose at first, five key indices of companies performances and index of intellectual capital by using of Public model in statistical society of accepted companies on the Iran Stock Exchange for five years (2005 to 2009) are measured and then experimented the influence of intellectual capital and its components on five financial performance indices by using of linear regression model. The findings indicate that intellectual capital and ROE, EP MV/BV, ROA and EPS are positively related.