Abstract
The paper examines the relationship between firm attributes (e.g., profitability, firm size and the share of stocks held by board of directors) and intellectual capital disclosure. Based on the framework by Guthrie and Petty (2000), three dimensions with 18 intellectual capital disclosure keywords were proposed. Content analysis was used to analyze the frequency, quality and compound indicators in 142 IPO prospectuses from 1992 to 2006. The results of regressions revealed: (1) corporate profitability is significantly positively correlated to the disclosure frequencies of external capital and human capital, but is significantly negatively correlated to the disclosure quality of human capital; (2) the corporate size in term of sales is significantly negatively correlated to disclosure quality of external capital; (3) but corporate size in terms of number of employees is significantly positively correlated to disclosure frequency and quality of overall intellectual capital; and (4) the share of company stock held by it’s board of directors is negatively correlated to the overall intellectual capital, but not with statistical significance. The stock market administration can provide more support to guide the small firms and internal capital disclosure in the IPO prospectuses