بررسی رابطه بین سرمایه فکری و ارزش افزوده اقتصادی با عملکرد مالی شرکت‌های دارویی پذیرفته شده در بورس اوراق بهادار

نوع مقاله : مقاله پژوهشی

نویسندگان

1 استادیار حسابداری دانشگاه فردوسی مشهد.

2 استادیار مدیریت بازرگانی دانشگاه آزاد اسلامی واحد مشهد.

3 دانشجوی کارشناسی ارشد مدیریت دولتی دانشگاه آزاد اسلامی واحد مشهد.

چکیده

مقدمه: هدف اصلی این پژوهش بررسی رابطه بین سرمایه فکری (به همراه اجزای آن) و ارزش افزوده اقتصادی با عملکرد مالی شرکت‌های دارویی پذیرفته شده در بورس اوراق بهادار تهران در بازه زمانی 1389-1386 است.
روش پژوهش: این پژوهش کاربردی، طرح آن شبه تجربی و از نظر رویکرد پس رویدادی است. جامعه آماری پژوهش را صنایع دارویی پذیرفته شده در بورس اوراق بهادار تهران تشکیل می‌دهد که نمونه آماری مورد بررسی با توجه به محدودیت‌های در نظر گرفته شده، شامل 24 شرکت است. به منظور آزمون فرضیه‌های پژوهش از دو روش تحلیل رگرسیون خطی چندگانه در سطح خطای 5‌ درصد و رگرسیون فازی استفاده شده است.
یافته‌ها: نتایج پژوهش براساس آزمون رگرسیون خطی چندگانه نشان می‌دهد که بین سرمایه فکری (به همراه اجزای آن) و ارزش افزوده اقتصادی با عملکرد مالی شرکت‌های دارویی رابطه آماری معنا‌داری وجود ندارد. با این وجود، بین کارایی سرمایه ساختاری و کارایی سرمایه رابطه‌ای با عملکرد مالی رابطه آماری معنادار وجود دارد. براساس نتایج بدست آمده از آزمون رگرسیون فازی، بین کارایی سرمایه ساختاری و ارزش افزوده اقتصادی با عملکرد مالی شرکت‌ها رابطه آماری معنا‌داری وجود ندارد اما بین سایر متغیرهای مستقل، با عملکرد مالی شرکت‌های دارویی رابطه آماری معنا‌داری وجود دارد.
 نتیجه‌گیری: بر اساس یافته‌های پ‍‍ژوهش، برخی از اجزای سرمایه فکری مانند سرمایه رابطه‌ای، می‌تواند عاملی تاثیرگذار در بهبود سطح عملکرد مالی شرکت قلمداد شود.
 
واژه‌های کلیدی: سرمایه فکری، ارزش افزوده اقتصادی، عملکرد مالی.

کلیدواژه‌ها


عنوان مقاله [English]

Investigating the Relationship between Intellectual Capital as well as Economic Value Added with Financial Performance of Companies Listed on Tehran Stock Exchange

نویسندگان [English]

  • M. Salehi 1
  • G. Enayati 2
  • P. Javadi 3
1 Assistant Professor, Accounting, Ferdowsi University of Mashhad, Mashhad, Iran.
2 Assistant Professor, Management, Mashhad Branch, Islamic Azad University, Iran.
3 MSc. Student in Public Management, Islamic Azad university of Mashhad, Mashhad, Iran
چکیده [English]

Introduction: The present study mainly aims at investigating the relationship between intellectual capital as well as economic value added with financial performance of pharmaceutical companies listed on Tehran Stock Exchange during 2008-2011.
Method: The current study is applied, semi-empirical and retrospective. The statistical population of the study includes the pharmaceutical companies listed on Tehran Stock Exchange. Given the limitations of the study, the sample consists of 24 of these companies. In order to test the research hypotheses, Multi Linear Regression and Liner Fuzzy Regression are employed.
Results: The results of the study based on Multi Linear Regression reveal that there is no significant relationship between intellectual capital as well as economic value added with financial performance of pharmaceutical companies listed on the Tehran Stock Exchange. However, there is a significant relationship between intellectual capital and economic value added. However, the results of Liner Fuzzy Regression show that there is no significant relationship between intellectual capital and economic value added.
Conclusion: Given the findings of the study, it can be concluded that some aspects of intellectual capital such as relationship capital may influence the improvement of financial performance.

کلیدواژه‌ها [English]

  • Intellectual capital
  • Economic Value Added
  • financial performance
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