The Impact of Intellectual Capital on Profitability, Liquidity, and Growth Rate Criteria of Companies Listed in Tehran Stock Exchange in Current and Future Periods

The intellectual capital is defined as a set of the company’s strategic sources, and in the current Knowledge-Based Economy is considered as an indispensable part of the Value Creation Process of the company. In this study, initially, the value of the intellectual capital of the listed companies in Tehran stock exchange was computed based on the value added intellectual coefficient for the 9 -yearly period from 1385 to 1393. Then, its relationship with the companies’ performance evaluation criteria including profitability, liquidity, and growth rate criteria, was evaluated via multiple regression models in the current period and future periods. The results of the evaluation suggest that the relationship between intellectual capital and profitability criteria in the current period and future periods was statistically significant. However, for the sample companies, no significant relationship was found between the intellectual capital, cash flow, and growth rate criteria in the current and future periods.