The Relationship between the Financial Performance and Intellectual Capital in the Food and Beverage Enterprises (Published)
Increase in the gap between companies’ market value and their book value has resulted in numerous investigations into identifying the factors eliminated from the financial statements of companies. Intellectual capital value affects the value of companies but is not reflected in financial statements. This research investigated the relationship between financial performance of the companies in food and beverage industry listed in Tehran Stock Exchange and the components of intellectual capital. Accounting profit (loss) was used as a performance indicator. Pulic’s value added intellectual coefficient was used to measure the performance of intellectual capital. Kolmogrov-Smirnov and Mann-Whitney U tests were used to analyze the information about 127 firms-years of 23 active companies in the industry. The results indicated that the communication and human capital efficiency coefficients were higher in profitable companies compared to unprofitable companies. However, structural capital efficiency coefficient was higher in unprofitable companies.
Keywords: Financial Performance, Intellectual Capital, Value Added Coefficient