本文調查2001 年到2007 年臺灣所有上市公司，運用混合資料的普通最小平方法、追蹤資料的迴歸分析法，了解顧客關係資本、人力資源資本與結構資本對公司績效的關係，由於結構資本對公司績效的反應未如預期，再進一步以上市公司是否有研發支出為變數，探討智慧資本對公司績效的影響。因此建議可重新設計結構資本的衡量變數。本文亦發現公司規模越大，公司總生產力反而降低，暴露了實務界常見的多個機構由一個人負責所產生現象，名義上是節省資源、減少浪費，可是在提供給利害關係人的經營品質上，成效就不好了。這也等於是回歸到資訊透明化的議題，不僅要增加財務資訊透明度仍要增加管理流程的透明度。像是許多權責單位或專家單位是否同一個人所兼任?這是本文很重要的建議，此外也期望景氣不佳時，企業不應以獲利考量而裁員或縮減人事訓練開支，這些都有損於智慧資本的增進。

The paper use the method of pooling data OLS, Panel data regression to test the relationship between intellectual capital and firm performance from 2001 to 2007. The variables included of customer capital, human
resource capital, structure capital from independent and return on asset, market price to book value and total productivity from firm performance. As the relationship between structure capital and firm performance is
insignificant. The paper separated two group depended by the R & D expenditures. Continue to investigate the influence of intellectual capital on firm performance.The effect of company management has ever become deteriorated with larger the scale of company and it has exposed the rather unfavorable defect of management for internal workflow. Of such defect, it is the sign often seen in practice as many institutes are run by one single individual. However, if the enhancement of transparency for financial information remains insufficient, it can, if through the empirically works of this study, help suggest to increase the
transparency of management process, or if many of the authorities in-charge-of or expert institutes should concurrently be led or duality by one single individual? They are the important suggestions put forth by this study, and we do expect that enterprise should, in times of economic recession, not lay off staff or streamline personnel training expense merely with consideration of profit-making, which can greatly jeopardize the enhancement of intellectual capital.