Relationship between Intellectual Capital and Productivity for Companies in Tehran Stock Exchange

Relationship between Intellectual Capital and Productivity for Companies in Tehran Stock Exchange. In this study, the relationship between intellectual capital as an important asset and competitive advantage has been discussed with productivity of the companies for Tehran Stock Exchange. To measure companies intellectual capital, two dimensions of capital efficiency (value added intellectual coefficient and its components) and value (calculated intangible value) is taken into consideration. For doing this work Information related through the years 2009 to 2013 for these companies have been collected. Hypotheses are tested by use of panel data regression. The results shows that the value added intellectual coefficient and its components (human capital efficiency, structural capital efficiency and efficiency of capital employed) have a significant and positive relationship with productivity. Also, the calculated intangible value of the company's efficiency has a significant and positive relationship only in models with fixed effects. The effect of the calculated intangible value components and value added intellectual coefficient on firm productivity, Test results shows that the efficiency of capital employed is the only factor for affecting productivity.