在知識經濟時代，組織價值來源已由實質的土地、廠房、設備等有形資本，轉變為以「知識」為主體的無形「智慧資本」(Intellectual Capital， IC)，是指能使組織提升競爭力與市場價值之所有知識、技術、關係與機制之總和，智慧資本三大內涵包括人力資本、結構資本與關係資本，其原本就存在組織之中，並非近來才有之新產物，只是過去論及績效時多側重財務數字，對無形資本價值較為疏忽，也無法以系統化架構檢視組織內部IC之發展。1990年以來，國外學者與實務界紛紛重視IC的研究與導入，IC遂成為21世紀組織創造競爭力之管理新趨勢。 本研究旨在探討高等教育機構智慧資本對組織績效之影響，並試圖驗證結構資本與關係資本之中介效果。資料蒐集來源為美國新聞與世界報導以及普林斯頓評論兩大資料庫2003年至2006年之跨年度資料，藉以驗證132所美國知名大學在智慧資本與組織績效間之關係。研究結果發現高素質人力資本為學校帶來高績效，且關係資本在人力資本與組織績效間具有中介效果，但結構資本則在人力資本與組織績效之關係未造成中介效果， / In the age of knowledge economy, the value of an organization has shifted from land, factories, equipments and other tangible assets to Intellectual Capital (IC). IC refers to the total sum of knowledge, technology, relationship and mechanism that could increase the competitiveness and market value of an organization. The three main components of IC are human capital, structural capital, and relational capital. In the past, although existing, these three capitals were neglected because financial figures in the accounting system could not capture their value. The purpose of this study is to explore IC in higher education and verify the relationship between the three capitals and school performance of 132 higher education institutions in the U.S. By using the 2003-2006 databases from US NEWS and Princeton Review, research result shows that more human capital corresponds to more relational capital; more human capital corresponds to better performance. In addition, structural capital does not mediate the relationship between human capital and performance; relational capital has a partial mediating effect on the relationship between human capital and performance; and structural capital does not mediate the relationship between human capital and relational capital.