Investigating the Effect of Intellectual Capital on Maximizing the Financial Performance of Affiliated Oil Companies in Tehran Stock Exchange

The purpose of this paper is to measure the intellectual capital of related affiliated companies and examine its relationship with financial performance. For this purpose, intellectual capital was estimated using financial statements and its relationship with firm performance was investigated during the period of 1375 to 1395. The results of the model of market value of firm performance indicate that the relationship between the firm's normal value and the firm's normal market value is positive. While, the relationship of normalized announcement earnings with the normal value of the firm's normal market is negative. In addition, the relationship between the costs of building a normal intellectual capital and the normal value of the firm's market is positive. In addition, the normal costs of creating a latent intellectual capital have a positive effect on the firm's normal market value, and the effect of the cost of creating intellectual capital is dynamic. Furthermore, the results of performance model estimation show that the relationship between normal intellectual capital and the performance of affiliated firms in Tehran Stock Exchange is positive.