Investingating the effect of intelle ctual capita and its elements on the return on stock of Iranian food inddustrial companies listed in Tehran stock exchange

This quantitative study seeks to obtain empirical evidence on the relationship between the Value Added Intellectual Coefficient (VAIC TM) and its three elements includes employed capita, human capital and structural capital, with Return on Stock (ROS) of Iranian food industrial companies. Toward that aim, the data was extracted from a panel consisting of 48 Iranian food industrial companies listed in Tehran Stock Exchange, during 2002-2011 In this article, as independent Variables were used VAIC TM and its three elements and with use of Linear multiple regressions analysis, their effects on return on stock as an indicator of stock market performance has been studied. The findings of testing hypotheses showed that companies' value added intellectual coefficient and all of its three elements independently, in these groups of companies as strong factors in their on stock forecasts, had direct and significant influence on their stock market performance.

کلیدواژه ها:

Value added intellectual coefficient ، Capital employed ، Human capital ، Structural capital ، Return on stock