智慧資本對輕資產價值影響-以兩岸食品為例

Abstract

智慧資本與輕資產都是指在傳統會計報表上無法顯示的企業隱形資產，然而在越趨競爭的市場，智慧資本與輕資產逐漸成為企業創造競爭優勢的要件。本研究使用輕資產評價模型計算兩岸食品產業於輕資產的表現，同時使用財務指標結合因素分析將智慧資本分成人力資本、創新資本、流程資本、關係資本，最後運用迴歸分析探討輕資產與智慧資本於兩岸食品產業的關係。其研究結果顯示: (1) 總體來說，台灣食品產業於輕資產創造比中國食品產業表現優異，(2) 經過進一步使用時間序列分析法，發現台灣與中國食品產業中，創新資本與關係資本對輕資產的影響有顯著性不同。

Intellectual capital and light assets are the competency that cannot be seen in traditional accounting report. However, the intellectual capital and asset-light operation are becoming important sources of competitive advantage for enterprises in new economy era. In this research, asset-light valuation model is employed to measure the competitive advantage of firms. With financial indicators, we analyze the configuration of intellectual capital, including human capital, innovation capital, process capital and relation capital, and apply a regression model to explore the effect of intellectual capital on light-asset value in China and Taiwan food industry.

The results of this empirical study show that: (1) Taiwan food industry performs better in asset-light operation than China food industry does, and (2) Panel data analysis indicates that the effects of innovation capital and relation capital on light assets differ between Taiwan and China food industry.

Key words: intellectual capital, light asset, food industry, factor analysis, panel data analysis