intellectual capital, tobin`s q ratio and stock return

the aim of this study was to investigate the effect of intellectual capital on the tobin's q rate and the efficiency of the companies' stock listed on the tehran stock exchange. to calculate the rate of value-added intellectual capital, pulic (2000) model and to measure the financial performance, the tobin's q rate- one of the criteria based on the market value- have been used. the study sample consisted of the listed companies in tehran stock exchange from which 90 companies were selected for a period of 5 years (2011 - 2014) by the systematic elimination and appropriate statistical tests were performed on them. the results of the study indicate that there isn't any significant and positive impact on the financial performance. furthermore, they show a positive and significant relationship between the components of intellectual capital and return stock. these findings are consistent with the findings of maditinos et al (2010).