بررسی رابطۀ بین سرمایۀ فکری، ارزش افزودۀ اقتصادی تعدیل‎شده و نقدشوندگی سهام

نوع مقاله: مقاله علمی پژوهشی

نویسندگان

1 دانشیار دانشکدۀ مدیریت دانشگاه تهران، تهران، ایران

2 دانشجوی دکتری حسابداری، دانشکدۀ مدیریت، دانشگاه تهران، تهران، ایران

چکیده

با وجود مطالعات فراوان در خصوص سرمایۀ فکری، به تأثیر غیرمستقیم آن از طریق ارزش افزودۀ اقتصادی تعدیل‎شده بر نقدشوندگی سهام توجه نشده است. این پژوهش تلاش می‎کند این شکاف را پر کند. هدف این پژوهش تعیین رابطۀ غیرمستقیم سرمایۀ ‌فکری از طریق متغیر میانجی (ارزش افزودۀ اقتصادی تعدیل‎شده) بر نقدشوندگی سهام است. رویکرد این پژوهش کمی است و از لحاظ روش استنتاج، توصیفی ـ همبستگی به‎شمار می‎رود. جامعۀ آماری آن شرکت‎های پذیرفته‎شده در بورس اوراق بهادار تهران طی سال‎های 1383 تا 1392 در نظر گرفته شده است. برای تجزیه‎وتحلیل داده‎ها از تحلیل رگرسیون استفاده می‎شود. نتایج نشان می‎دهد سرمایۀ فکری بر ارزش افزودۀ اقتصادی تعدیل‌شده تأثیر معناداری می‎گذارد. همچنین تأثیر سرمایۀ فکری ساختاری و سرمایۀ فکری ارتباطی از طریق ارزش افزودۀ اقتصادی‌ تعدیل‎شده بر نقدشوندگی سهام، غیرمستقیم است؛ اما سرمایۀ انسانی از طریق ارزش افزودۀ اقتصادی ‌تعدیل‎شده به نقدشوندگی منتقل نمی‌شود، بلکه به‎طور مستقیم بر نقدشوندگی تأثیر می‎گذارد.

کلیدواژه‌ها


عنوان مقاله [English]

The relationship between intellectual capital, adjusted economic value added and stock liquidity

نویسندگان [English]

  • Mohammad Reza Nikbakht 1
  • Ghorban Eskandari 2
1 Associate Professor, Faculty of Management, University of Tehran, Tehran, Iran
2 PhD Student, Faculty of Management, University of Tehran, Tehran, Iran
چکیده [English]

Despite numerous studies on intellectual capital, the indirect effect through economic value adjustment on stock liquidity has not been considered. This research is trying to fill this gap. The aim of this study was to determine the relationship between intellectual capital indirectly through mediator (EVA modified) liquidity of the stock. The statistical population included the companies listed on Tehran Stock Exchange over the period of 2003 to 2013. The results show that intellectual capital  significantly affects adjusted economic value added. The indirect effect of structural funds and communication through Adjusted Economic Value Added on the liquidity of the stock is positive and significant. But human capital is not transferred to liquidity through justified economic value-added justified but it directly affects stock liquidity.

کلیدواژه‌ها [English]

  • economic value adjusted
  • Intellectual Capital
  • Performance Evaluation
  • Stock liquidity
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