Assessment of The Linear Relationship Between Intellectual Capital and Indexes Including Profitability, Growth and Revenue of Production Companies Recognized By Tehran Stock Exchange Market

The importance of intellectual capital has increased together with the development of societies from industrial era to information era. However, identification and determination of the value of intangible assets has always been a problem and that is exactly why it is not principally reported by most of the companies. Hence, the current study tries to describe the situation of these key assets in the production companies recognized by Tehran Stock Exchange Market from 2003 to 2009 using a highly-applied and authentic model to assess intellectual capital as presented by Pulic (2000) and subsequently to determine its relationship with the profitability indexes including revenue of assets, changes of profit, proportion of each dividend as well as growth of company's value and the revenue of the shares of the mentioned companies. The research method is of applied type as far as the addressee using it is concerned and is descriptive-correlative as far as its objective is concerned. It is also of quantitative type as far as the method of collecting and analyzing data is concerned. In order to analyze the data and test the hypotheses, combined data regression models and EViews.7 software were used. The findings of the research showed that the investments of production companies in intellectual capital have a direct and positive relationship with the increase of profitability, revenue of assets, profit changes, each dividend and the revenue of the company's shares and it also increases the company's revenues. Also investment in intellectual capital could not have a significant effect on the growth of the company's value. The study could play a role in the decision-makings regarding management of valuable intellectual capitals of the company by informing the production companies under study of the efficiency level of their intellectual capital.

Intellectual Capital, Intangible Assets, Profitability, Financial Performance, Tehran Stock Exchange Market