The Investigation of Relationship between Intellectual Capital and Systematic Risk (β) (Empirical Evidence: Pharmaceutical Listed in Stock Exchange Organization of Tehran) | ||
| فصلنامه پژوهشهای نوین درحسابداری | ||
| Article 2, Volume 1, Issue 1, December 2013, Pages 26-36 PDF (758.66 K) | ||
| Document Type: Research Paper | ||
| Authors | ||
| Seyyed Hassan Salehnejad* 1; Sedighe Kamran Rad2 | ||
| 1Assistant Professor Payame Noor University | ||
| 2Academic Member Payame Noor University | ||
| Abstract | ||
| Present study is aimed at determining the relationship between intellectual capital and systematic risk (β). With this regard, following a comprehensive review of the literature related to intellectual capital and systematic risk (β), necessary data was gained out of the statistical society of Pharmaceutical industries which were accepted in Tehran’s stock of securities. These companies were found and selected by referring to special documents (financial statement of the companies and some software of stock exchange). Then using the above mentioned information, the regression model was extracted to determine the relationship between three independent variables of intellectual capital (human capital, communication/ customer capital and structural capital) and systematic risk(β) of these companies under study. The results of the study indicated that the independent variables of human capital has significant positive relationship and structural capital has significant negative relationship with systematic risk of the noted companies; considering the regression model which was used. The independent variable of communication/ customer capital, however, had no significant relationship on these companies. | ||
| Keywords | ||
| Intellectual Capital; Systematic Risk (β); Pharmaceutical Industry; Tehran Stock Exchange | ||
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