Intellectual Capital Performance and Capital Structure

This study has examined the impact of capital structure on intellectual capital (IC) performance in case of companies listed on Tehran stock exchange (TSE). IC performance is related to the efficiency of invested capital on tangible and intangible assets and resources and affect competitive advantage in long term period. This study tests whether the type of ownership (public and private, including corporate and individual) can explain the changes in intellectual capital performance. This study uses an experimental model called Pulic to measure intellectual capital of 141 companies among the samples, which were selected based on screening rules. The data includes all companies listed on Tehran Stock Exchange during 2002- 2013. The results of performed test on the impact of capital structure on corporate intellectual capital performance using EViews software version 7 and panel data models, indicate that there is a significant relationship between them where the relationship between state ownership and intellectual capital performance is an inverse (negative) one.