Empirical study on factors influencing on corporate market value in IT industry based on Skandia navigator

The empirical results show that the elements of intellectual capital have significant positive effect on the market value of high-tech industry which proves that combining intellectual capital information and financial information can evaluate the corporate market value more rationally. Two variables, value-added per employee and employees' average educational level have significant positive effect on the market value. Customer concentration has positive correlation and R&D density has negative correlation with market value. Therefore, the companies should emphasize intellectual elements management and information disclosure, particularly, should pay more attention on accounting measurement to R&D expenditure and its information disclosure to change the current situation which investors don't have the confidence and foundation to judge the corporate competition advantage and development potential to devalue the corporate value.