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知识经济时代,智力资本已成为驱动企业持续发展的动力源泉。选取126家在沪、深两市交易的A股上市公司中制造业企业2008-2012年的面板数据,进行固定效应模型估计,探讨我国现阶段国有和非国有制造业企业智力资本对企业绩效的影响。结果表明:不同性质的企业智力资本对企业绩效的作用存在差异,并且制造业企业中物质资本对企业绩效的效用已成递减状态,智力资本已逐渐取代物质资本成为提升制造业企业绩效的关键因素。
In the era of knowledge economy, intellectual capital has become the driving force for sustainable development of enterprises. Select panel data of 126 manufacturing companies in A-share listed companies traded in Shanghai and Shenzhen from 2008 to 2012, and conduct a fixed-effect model to estimate the effect of the intellectual capital of state-owned and non-state-owned manufacturing enterprises on firm performance at the present stage influences. The results show that there are differences in the roles of different types of corporate intellectual capital in the performance of enterprises, and the utility of material capital in manufacturing enterprises has diminished the effectiveness of corporate performance. Intellectual capital has gradually replaced material capital as the key factor to enhance the performance of manufacturing enterprises .