关键词: 智力资本,价值驱动,作用机理,门槛效应

Abstract: Based on an analysis of the dynamic formation and dynamic relationship of the constitutional dimensions of corporate intellectual capital, this paper uses for reference the panel threshold model developed by Hansen (1999) and takes the organizational capital as the threshold variable to explore the action mechanism of value-driving intellectual capital through the organizational capital threshold effect. The findings show that the value driving effect of intellectual capital has stage characteristics, namely there is the threshold effect with organizational capital as the threshold variable. When the organizational capital enters the mature stage from the initial stage, the organizational capital exceeding the first threshold value will significantly promote the value-driving effect of human capital in the interaction with human capital. When the organizational capital breaking through the second threshold value and entering a rigid stage, the value-driving effect of human capital will fall sharply.

Key words: intellectual capital; value-driving; action mechanism; threshold effect