本研究主要在探討對台灣股票上市公司之價值具有較大影響力之智慧資本的主要成分。首先參考文獻將智慧資本分為人力資本、結構資本與顧客資本，其次將人力資本分為八個組成因素、結構資本分為六個組成因素、顧客資本分為五個組成因素，利用迴歸分析研究各組成因素對公司價值之影響程度。結果顯示人力資本中，以組織穩定度對公司價值股價之影響程度最大，意味著一家公司越穩定越能創造公司價值。結構資本以研發費用對公司價值影響程度最大，可知一家公司之研發費用的比例越重對創造公司價值越有貢獻。顧客資本以信用吉平等與學收成長率對公司價值之影響程度最大，表示信用評等越好、營收成長率越多，越能為公司創造更多之價值。

This paper mainly examines the principal components of intellectual capital that has the most effect on stock listed firm value in Taiwan. First， we refer to the literature and divide the intellectual capital into human， structural， and customer capital. Next， we divide the human capital into 8 factors， the structural capital into 6 factors， and the customer capital into 5 factors. Andthen， we use the regression analysis to study each factor's effect on firm value. The result shows that organizational stability has the most effects on firm value in the human capital， and it means that a firm which is more stable creates the firm value more. R& D expense has the most effects on firm value in the structural capital， and it is to be known that the more proportion of R& D expense， the more contribution of creating the firm value. The credit judge and revenue growth rate has the most effects on firm value in the customer capital， and it means that the better credit judge， the more revenue growth rates， and the more capability to crate firm value.