在知识经济中,知识资本的贡献主要为了公司的业绩。50% – -90%的公司创造的价值在当今经济估计来自公司的智力资本而不是传统材料产品(Guthrie Yongvanich,2004)。与智力资本,企业能够提高公司的性能,如生产力和创新,实现竞争优势在市场上的竞争对手并在长期创造价值。智力资本三个组件,包括人力资本、关系资本或客户,以及结构或组织的资本。
人力资本开发和增强组织的能力做出巨大的贡献,这能够促进公司未来的创新,增加公司的业绩(Ismall Marimuthi Arokiasamy,2009)。此外,劳动能力显著公司间差异有助于生产率和企业的有效性(Griliches Regev,1995)。基于资源的观点,人力资本是一个企业强大的竞争力,特别是在科技行业无法模仿和替代。尽管人力资本可以提高公司的业绩,这可能不是一个重要的决心。根据Coff(1997)当人力资本创造了更多的利润,员工可能需要更高的工资,这将利用资本。
Accordingto Ehie and Olibe (2010), companies which have invested heavily in R&D are more likely to be profitable and successful. Similar results delivered by the Bae and Kim (2003) show that R&D investment consistently has significantly positive impacts on company’s market value. Hay and Morris (1979) state that high percentage investment in R&D can generate high risk-high return strategy which enable shareholder to deliver better financial performance. Although R&D may have high return, the high risk cannot be ignored. Mansfield and Wagner (1975) point out that in comparison with the tangible assets, intangible assets investments have more probability of failure. Lantz and Sahut (2005) further explain that in small companies, risk of growth will lead to liquidity problem and bankruptcy because small companies do not have sufficient financial backup to deal with these crises. Companies are able to achieve competitive advantages by investing in R&D which is likely to create value for the company. However, spillovers relating to the processes of R&D make it possible for competitors to gain competitiveness with a lower cost (Zhu, 2012).
In knowledge-based economy, intellectual capital contributes major effort to company’s performance. 50%-90% of the value created by a firm in today’s economy is estimated to come from intellectual capital of the company rather than traditional material products (Guthrie and Yongvanich, 2004).With intellectual capital, companies are able to increase company’s performance, such as productivity and innovation, achieve competitive advantages amongst rivals in the market and create value in a long-term basis. Intellectual capital has three components, including human capital, relational or customer capital, as well as structural or organizational capital.
Human capital development and enhancement tend to make huge contribution to organization’s competencies, which are able to boost company’s future innovativeness and increase Company’s performance (Ismall Marimuthi and Arokiasamy, 2009). Furthermore, labour ability contributes significant inter-firm differences to productivity and companies’ effectiveness (Griliches and Regev, 1995). Based on the resource-based view, human capital can be a powerful competitiveness for companies, especially those in technology industry as it is unable to imitate and substitute. Although human capital can enhance company’s performance, it might not be an important determination. According to Coff (1997) when human capital creates more profits, employees may require higher pay, which will leverage the capital.