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| Research on the Enterprise Growth Path from the Perspective of Intellectual Capital——A Case Study of High-tech SMEs |
| ZHAO Chi,WANG Jian,ZHOU Qin |
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Abstract Based on the growth characteristics of high-tech SMEs, with the intellectual capital encompassing the human capital and technology capital, this paper has built an index system of the growth path of high-tech SMEs. For the first time the writers use the panel data for an empirical study of the relationship between high-tech SMEs intellectual capital and business growth path. Research results show that: there is the positive correlation between human capital and enterprise growth path changes, in which the proportion of researchers has significant economic implications. At the same time, the R&D investment has significant positive effects on enterprises leaping growth, and negative correlation with the growth path. With the industry characteristics under control, R&D investment is more significant in traditional manufacturing industries, which shows the importance of the industry characteristics on high-tech SMEs growth path. In addition, the so-called regional comparative advantage doe
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Received: 10 January 2011
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Corresponding Authors:
ZHAO Chi
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2011, Vol. 1 
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