This paper choose Chinese high-tech listed companies as the samples to testify the slack resources’ moderating role between intellectual capital and corporate value. The results based on hierarchical moderating regression (HMR) show that intellectual capital of high-tech listed companies not only has a significant influence on corporate value creation, but also has a significant impact on the perception and evaluation to corporate market value by capital market in China. Slack resources indeed have a significant moderating effect between intellectual capital and corporate value. It can significantly moderate the relationship between human capital, innovation capital and customer capital and corporate value. That is to say, slack resources not only can promote the elements of intellectual capital to create more value, but also improve value realization of intellectual capital on capital market. The more slack resources the firms have, the more significant and stronger of intellectual capital affecting enterprises value.
Li, Dongwei and Li, Jianliang, "Intellectual Capital, Slack Resources and Corporate Value: Empirical Analysis of a Moderating Effect Model" (2012). Eleventh Wuhan International Conference on e-Business. 31.