The Impacts of Intellectual Capital and Anti-risk Capability on Corporate Value: A research based on listed constituent stock

Abstract

Intellectual capital is an extremely important nonfinancial intangible asset owned by the company. Anti-risk capability refers to the ability of a company to integrate its own resources against external risks in the face of uncertainties. Intellectual capital is the driving force for corporate development, while anti-risk capability provides protection for the company. Both are indispensable in the long-term development of a company. This study selected the balanced panel data of 50 listed companies from constituent stock in China between 2011 and 2015 and explored the relationship between intellectual capital, anti-risk capability, and corporate value. Results show that the application of intellectual capital and the ability to resist risks vary greatly among different companies. At the same time, companies with higher levels of intellectual capital have higher corporate value. Keywords—intellectual capital; anti-risk capability; corporate value