Effects of profitability on the Intellectual Capital Disclosure in listed Companies in Tehran Stock Exchange

Intellectual capital is a valuable intangible asset that can have asignificant impact on the success of the company. Although theseintangible assets are not recognized in the accounts and the amounts ofmoney it cannot be easily measured; however, it should be noted thatthese assets exist and can affect decisions. The study of the relationshipbetween profitability and disclosure of intellectual capital andintellectual capital components in the Companies listed on the TehranStock Exchange is evaluated. In this regard, four hypotheses weredeveloped from multiple linear regression was used to test them. Forthe operationalization of disclosure of intellectual capital and itscomponents, the checklist Li et al (2012) and Return on Assets ratiowere used for profit. Results of 77 firms (231 firm-years) during theperiod 2010- 2013 indicates that at 95 percent, positive and significantrelationship between profitability and disclosure of intellectual capitalthere. So that the, by increasing and improving profitability, companieshave an incentive to voluntarily disclose information on intellectualcapital. The other variables were observed, significant and positiverelationship between firm size and disclosure of intellectual capital,human capital, customer capital there. Also positive and significantrelationship found between growth opportunities and disclosureintellectual capital. In addition, human capital and structural capitalwere positively related. A positive relationship was seen betweenfinancial leverage and disclosure customer capital there .Accordingly,consistent with the theoretical bases, it could be argued thatprofitability of the company led to voluntarily disclosure informationon intellectual capital, and firms are better profitability of the greaterincentive to the disclosure of intellectual capital.

کلیدواژه ها:

Intellectual capital ، Human capital ، Structural capital ، Physical capital ، Intellectual capital disclosure ، Signaling theory