The Relationship between Intellectual Capital, Firm Value and Transparency

The present study examines the role of intellectual capital in firm value and the transparency in the company's reported earnings. For this purpose, the companies listed in Tehran Stock Exchange were examined and 207 running within 2003 to 2012 were selected as the ultimate samples of the study. Multiple regressions were used to test assumptions and the company's size as well as its financial leverage variables was chosen as control variables. The results reveal that companies with a higher intellectual capital were of higher value. However, the results did not show a significant relationship between intellectual capital and transparency. Results did not show a significant relationship between the size of the firm, firm value and transparency. According to the findings of the study, companies with higher financial leverage were less valued. The study found no significant relationship between financial leverage and transparency.