Investigate the Relationship Between Intellectual Capital of Board and Financial Performance of Accepted Companies in Tehran Stock Exchange

In recent decade development of information and rapid advancement of technology has created great change in all aspects of human life and activities and has caused moving towards the knowledge-based economy and has led to change dominant paradigm on the industrial economy. So it can be seen today knowledge and Information-based economy that the basis and foundation on which is based on the intangible assets and intellectual capital. In such environment, intellectual capital of organizations has been considered more than past as a competitive advantage. This study aimed to investigate the effects of intellectual capital of the board of directors on firm’s Value and financial performance of listed companies in Tehran Stock Exchange and the main purpose of this study is to investigate the effects of the variables on each other in the field of the knowledge-based sectors. Hypotheses are based on three variables: Number of directors with Ph.D. degree, Tobin’s Q and Return on Equity and in sample of 60 listed companies in Tehran Stock Exchange and using data for the years 1388-1390, were analyzed using correlation and regression. The results of this analysis indicate that: The number of scientists on the board has a positive impact on the firm’s Value and financial performance in knowledge-based sectors.