The Relation of comparison Intellectual Capital Disclosure betweenFamily Firms and Non-Family Firms on Firm Value

• Main Authors: Kuo,Yuhan, 郭語涵
• Other Authors: 劉俊儒
• Format: Others
• Language: zh-TW
• Published: 2011
• Online Access: http://ndltd.ncl.edu.tw/handle/95123778203220082800

碩士 === 東海大學 === 會計學系 === 100 === Intellectual capital disclosure is voluntary disclosure. Intellectual capital disclosure is important to enterprises according to the interview of Goran Ross, the professor of ICS in England, held in Taiwan in 2006(Wu,2006). Also, Goran mentioned that intellectual capital disclosure is the root of firm value and a challenge that people have to face in the future because the global capital market is affected by environment. However, Yeh, Su, Ke, and Lee mentioned that over half of enterprises in Taiwan are family firm (2003). This study discusses that, among listed companies and over the counter companies in electronic information industries, whether there is a difference of intellectual capital disclosure exists on family firms and non-family firms in Taiwan. Furthermore, the study also researches that how the intellectual capital disclosure with high quality the influences on firm value. The subjects are listed companies and over the counter companies in electronic information industries from 2005 to 2009. The study also analyzes the present situation of intellectual capital disclosure by using the financial reports of family firms and non-family firms. The measurement of information transparency is adopted content analysis. The study made 40 indexes, obtained by referring related researches of intellectual capital disclosure, present the difference of intellectual capital disclosure between family firms and non-family firms on firm value. The result of the experiment appears that it is a positive relationship between intellectual capital disclosure and firm value. It means that higher intellectual capital disclosure quality, less the uncertainty of enterprise and the information asymmetry, resulting in higher firm value. Furthermore, the study discovers that non-family firms prefer to disclose much intellectual capital information than family firms. Hence, the firm value of non-family firms is higher.