The purpose of this research is to identify the influence of intellectual capital on corporate value, and if its cantain the value-relevant information of intellectual capital on the difference between market price and book value, aiming to clarify if intellectual capital can be used to precisely measure the value of a company. Focuse on information and electronic companies listed in Taiwan during the period 1998 to 2007, which are classified in accordance with the upstream, midstream and downstream companies for the study. The analysis was made based on Ohlson’s (1995) residual income evaluation model. 1. Tthere is a significant positive influence for innovation capital, irrespective of upstream, midstream or downstream companies. For human capital, however, a significant negative influence was found. The findings suggest that, apart from improving internal procedures and corporate value, the industries need to make further efforts to enhance their human resources management. 2. There is no value-relevance exists within each intellectual capital elements, regardless of whether upstream, midstream or downstream companies. Suggested that enterprisese should to exposure these factors of the difference between the market value and book value strengthently, and lists these factors by the supplementary statement of intangible assets.
