scholarly journals Os activos intangíveis nas contas das empresas do PSI 20 : uma evidência empírica

2009 ◽  
pp. 183
Author(s):  
Maria da Conceiçâo da Costa Marques
Keyword(s):  
Intellectual Capital ◽  
Information Society ◽  
Industrial Revolution ◽  
Intangible Assets ◽  
Stock Exchange ◽  
Financial Statements ◽  
Business World ◽  
The Past ◽  
Current State ◽  
Factors Influencing

En la actualidad podemos enumerar como activos intangibles contables las patentes, marcas, derechos de autor, etc. Sin embargo, hay otros cuya existencia se reconoce ampliamente y que, a pesar de no estar identificados o medidos, también contribuyen a los resultados de una entidad, como el goodwi II o el capital intelectual, entre otros.La Contabilidad de activos intangibles ha cobrado impulso en las últimas décadas debido a los cambios que se han producido en el mundo de los negocios. Los avances en la industria y, en concreto la sociedad de la información, disponen de activos intangibles que son de aplicación en el mundo de los negocios.El reconocimiento de los activos intangibles en los libros de las entidades puede ser el siguiente paso, en concreto en lo que se refiere a ciertos tipos de negocios, como el de la industria del conocimiento.En el presente estudio se analizan los factores que influyen en la divulgación e información de activos intangibles voluntarios y obligatorios de un número de empresas portuguesas que cotizan en bolsa. Asimismo, exploramos la línea de pensamiento actual sobre activos intangibles y cómo se evalúan, reconocen y presentan estos recursos en los estados financieros de las empresas portuguesas.<br /><br />Today, as intangible assets recognized by the accounting, we can list the patents, trademarks, copyrights, etc. But there are other intangible assets whose existence is widely acknowledged that although they have not yet been identified or measured, also contribute to the results of an entity such as Goodwill or the Intellectual Capital, among others.Accounting for intangible assets gained prominence in the past decades due to changes that are occurring in the business world. The industrial revolution and, in particular, the information society, have the resources in front of the intangible world of business.The recognition of intangible assets on the books of the entities can be the next step forward especially for certain types of business such as the industry of knowledge. In this study we analyze the factors influencing the disclosure and information, mandatory and voluntary (intangible assets), of a number of Portuguese companies whose securities are traded on stock exchange. We also explore the current state of thinking on intangible assets and how those resources are being evaluated, recognized and presented in financial statements of Portuguese companies.

The effect of intangible assets on sustainable growth and firm value – Evidence on intellectual capital investment in companies listed on Bucharest Stock Exchange

Kybernetes ◽  
2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Catalin Ionita ◽  
Elena Dinu
Keyword(s):  
Growth Rate ◽  
Intellectual Capital ◽  
Firm Value ◽  
Intangible Assets ◽  
Stock Exchange ◽  
Listed Companies ◽  
Sustainable Growth ◽  
Content Type ◽  
Sustainable Growth Rate ◽  
The Impact

PurposeThe present study investigates the connection between company investments in intellectual capital (IC) and how they translate into financial value. The aim is to test the impact of intangible assets on the firm value and its sustainable growth.Design/methodology/approachThe research employs computation models to determine the sustainable growth rate (SGR) and the firm value (FV), and by using the ordinary least squares (OLS) model through a linear regression assesses the relationship between the dependent variables and expenditures on intangibles like R&D, IT programs and patents. A sample of 42 companies has been selected out of the 78 listed at Bucharest Stock Exchange (BSE), based on the appropriateness of the information disclosed in the financial reports for the period 2016–2019.FindingsThe results show that intangibles classified as innovative competences (R&D and Patents) do not have a positive impact on SGR and FV in listed companies from Romania. Moreover, R&D has a negative and significant effect on FV, while IT Programs have a positive and significant impact on FV, but not on the SGR. Variables categorised as economic competencies (Brands, Shares held in associates and jointly controlled entities) and firm structure-specific variables (Leverage, Firm Performance) seem to have a significant effect on SGR and FV. Shares held in associates and jointly controlled entities is the variable that can have the biggest impact when it comes to FV for companies listed at BSE.Research limitations/implicationsDue to non-disclosure of specific information by some companies, or lack of investments in intangibles the sample had to be reduced and does not cover all listed companies.Practical implicationsCompanies listed on the Regulated Market from the Bucharest Stock Exchange should maintain their scale of liabilities at a reasonable level when financing intangible assets in order to ensure corporate long-term and sustainable development. Also, these companies should maintain awareness about the importance of intangible assets and invest more in specific sub-components, in order to sustain competitive advantage. Recognizing the roles of intangibles, managers need to develop strategies to invest in profitable intangibles by reasonably allocating their limited resources, in order to achieve sustainable growth and increase company success.Originality/valueStudies concerning the relation between investments in intangibles and sustainable growth rate and firm value of listed Romanian companies are very scarce. This paper reveals new research, never before undertaken, concerning expenditures on intangibles by Romanian companies and the valuation of such investments on Bucharest Stock Exchange.

scholarly journals INTANGIBLE ASSETS IN THE CONSOLIDATED FINANCIAL STATEMENTS OF SERBIAN AND SLOVENIAN LISTED COMPANIES: A PRELIMINARY OVERVIEW OF THE REPORTING PRACTICES

TEME ◽  
2018 ◽  
pp. 167
Author(s):  
Dejan Spasić ◽  
Anton Vorina
Keyword(s):  
Intangible Assets ◽  
Stock Exchange ◽  
Financial Statements ◽  
Listed Companies ◽  
Consolidated Financial Statements ◽  
Reporting Practices ◽  
Reporting Practice ◽  
Survey Results ◽  
Business Combination ◽  
The Republic

The aim of the research is to achieve a conclusion what is the level of the reporting practice on intangible assets in two countries - in the Republic of Serbia and in the Republic of Slovenia trough a comparative descriptive statistics. Consolidated financial statements of listed companies in these two countries were used from the Belgrade Stock Exchange (Serbia) and the Ljubljana Stock Exchange (Slovenia). The reason for the use of consolidated financial statements lies in the fact that they can contain unconsolidated intangible assets already recognized in the separate financial statements of the companies included in the group, as well as internally generated intangible assets that meet the conditions for recognition in a business combination (including Goodwill). The general assessment is that the survey results indicate a very low level of reporting practice of intangible assets in Serbia and relatively satisfactory level of reporting practice in Slovenia. Individual results are given in the fourth part of the paper. 

scholarly journals PENGARUH INTELLECTUAL CAPITAL TERHADAP NILAI PERUSAHAAN DENGAN FINANCIAL DISTRESS SEBAGAI VARIABEL INTERVENING

2020 ◽  
Vol 15 (2) ◽  
pp. 169
Author(s):  
Fivi Anggraini
Keyword(s):  
Real Estate ◽  
Intellectual Capital ◽  
Financial Distress ◽  
Firm Value ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Analysis Data ◽  
Building Construction ◽  
Business World ◽  
Construction Companies

<p><em>Tight competition between companies in the business world in attracting investors is becoming a strong motivation for them to maximize their firm values. This study aims to determine the effect intellectual capital on firm value with financial distress as an intervening variable on real estate and building construction companies listed in Indonesia Stock Exchange in 2014-2018. Sampling method by using purposive sampling with a total   the samples obtained were 40 from real estate and building construction companies listed in IDX. The data was analysed by using multiple linear regression analysis and path analysis. Data analysis was processed with the SPSS 16. The results of this study showed that intellectual capital have significantly negative effect on financial distress. Simultaneously and partially intellectual capital and financial distress have a significant direct effect on firm value. The indirect test results showed that intellectual capital has a significant effect on firm value with financial distress as an intervening variable. </em></p>

scholarly journals The return on assets method for intellectual capital and application in Istanbul Stock ExchangeHesaplanmış maddi olmayan değer yöntemi ile entelektüel sermayenin hesaplanması ve Borsa İstanbul’da bir uygulama

2016 ◽  
Vol 13 (3) ◽  
pp. 4675
Author(s):  
Tayfun Deniz Kuğu
Keyword(s):  
Intellectual Capital ◽  
Development Process ◽  
Intangible Assets ◽  
Stock Exchange ◽  
Return On Assets ◽  
Industry Development ◽  
Tangible Assets ◽  
Istanbul Stock Exchange ◽  
Physical Assets

Industry development process based on the information of the physical assets must be incline toward. In this regard, enterprises as well as tangible assets, intangible assets they have is a growing importance. In this case, the measurement of intangible assets for businesses, evaluating and comparing with competitors constitutes necessity. In other words, it is necessary for the existence of intellectual capital business. ÖzetSanayinin gelişim süreci fiziksel varlıklardan bilgiye dayalı varlıklara yönelmeyi zorunlu kılmaktadır. Bu bakımdan işletmelerin maddi duran varlıklarının yanı sıra, sahip oldukları maddi olmayan duran varlıkları da artan bir öneme sahip olmaktadır. Bu durum işletmeler için maddi olmayan duran varlıklarının ölçülmesi, değerlendirilmesi ve rakipleri ile kıyaslanması zorunluluğunu oluşturmaktadır. Bir başka deyişle, Entelektüel sermaye işletmelerin varlığı için gereklidir.

scholarly journals The adoption of IFRS in publicly listed enterprises of high and medium capitalization and the impact of the size of the audit firm in Greece

2014 ◽  
Vol 11 (4) ◽  
pp. 707-716 ◽  
Author(s):  
Michail Pazarskis ◽  
Andreas Koutoupis ◽  
George Drogalas ◽  
Konstantinos Tsakiris
Keyword(s):  
Stock Exchange ◽  
Accounting Standards ◽  
Financial Statements ◽  
International Accounting Standards ◽  
Audit Firm ◽  
The Past ◽  
Big 4 ◽  
The Difference ◽  
Athens Stock Exchange ◽  
The Impact

In 2002, developments in the global markets during the past decades have highlighted the need for common accounting standards among companies all around the world so as the financial statements to be comparable. From 2005 onwards the Greek Companies listed on the Athens Exchange was an accounting “revolution” of the 21st century, given the difference in philosophy between the Greek GAAP and the International Accounting Standards-IAS (next, IFRS). This study evaluates the implementation of IFRS on the financial statements of Greek publicly listed companies of high and medium capitalization, which are companies that are included in the FTSE 20 and FTSE 40 indexes of the Athens Stock Exchange-ASE, respectively. Also, for those firms we examined the effect of the size of the audit firm. The research was conducted based on the analysis of thirteen ratios. According to our analysis only few of the ratios have changed significantly. Finally, regarding the impact of the size of the audit firm the results reveal controversy with the present bibliography concerning “Big 4” in comparison with “non-Big 4” firms in Greece

scholarly journals Measurement of Intellectual Capital as Exemplified by Methods of Groups Based on the Roa Indicator and on Market Capitalization

e-Finanse ◽  
2017 ◽  
Vol 12 (4) ◽  
pp. 58-71
Author(s):  
Karolina Palimąka ◽  
Mateusz Mierzejewskl
Keyword(s):  
Intellectual Capital ◽  
Food Industry ◽  
Intangible Assets ◽  
Financial Statements ◽  
Point Of View ◽  
Market Capitalization ◽  
Knowledge Based ◽  
Theoretical Approaches ◽  
Knowledge Based Economy ◽  
Business Analysis

Abstract The concept of a knowledge-based economy is a relatively new topic, but it does not mean that the previous economies did not use knowledge. For many years, knowledge formed the basis of any economy, it was a factor that set the pace of each of them, but just nit is making a significant impact on the entrepreneurial environment, and more. Inherent KBE is the concept of intellectual capital. The article raises both theoretical approaches towards the concept of intellectual capital, and points to the importance (from the point of view of managing this intangible value in the company) -of measuring intellectual capital. The process of good management of the value of intangible assets must be supported by knowledge about, e. g.,its size, value, etc. The authors focus on presenting methods of measuring intellectual capital from two groups of methods by the classification made by K. E. Sveiby, who is considered one of the fathers of the IC concept. The goal of the article is to compare methods from these two groups in terms of their flaws and advantages as regards preparing business analysis. This is done through presentation of the topic, including the concept and methods of intellectual capital measurement, which was based on the review of the literature.Furthermore, based on financial statements of companies from the WIG- oil&gas index and WIG- food industry indexwaysof interpreting the final results are presented.

The relationship between intellectual capital and financial statements readability: the role of management characteristics

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mahdi Salehi ◽  
Hassan Mohammadzadeh Moghadam ◽  
Zohreh Hajiha
Keyword(s):  
Regression Model ◽  
Intellectual Capital ◽  
Fixed Effects ◽  
Stock Exchange ◽  
Hypothesis Test ◽  
Financial Statements ◽  
Multiple Regression Model ◽  
Content Type ◽  
The Relationship

Purpose The present study aims to investigate the relationship between intellectual capital and the readability of financial statements with the mediating role of management characteristics of companies listed on the Tehran Stock Exchange. In other words, this research tries to find the answer to whether intellectual capital can positively affect the readability of financial statements. Design/methodology/approach A multivariate regression model was used to test the hypotheses for this purpose. The research hypotheses were tested using a sample of 1,309 observations listed on the Tehran Stock Exchange from 2012 to 2018 and a multiple regression model based on panel data and fixed-effects models. Findings The results indicate that intellectual capital has a positive and significant relationship with the readability of financial statements, which means that with increasing intellectual capital in companies, financial statements’ readability also increases. Based on the hypothesis test results, it has been determined that narcissism, accrual and real earnings management have a negative effect on the relationship between intellectual capital and the readability of financial statements. Originality/value Since the present study examines such an issue in emerging markets, it provides users, analysts and legal entities with useful information about management’s inherent and acquired characteristics that significantly impact the purchase of audit opinion. This study’s results also contribute to developing science and knowledge in this field and close the literature gap.

Taxonomy of IT Intangible Assets for Public Administration Based on the Electronic Government Maturity Model in Uruguay

2013 ◽  
pp. 103-122
Author(s):  
Helena Garbarino ◽  
Bruno Delgado ◽  
José Carrillo
Keyword(s):  
Public Administration ◽  
Intellectual Capital ◽  
Information Society ◽  
Intangible Assets ◽  
Electronic Government ◽  
Intangible Asset ◽  
Maturity Model ◽  
The Public

This chapter presents a taxonomy of IT intangible asset indicators for Public Administration, relating the indicators to the Electronic Government Maturity Model proposed by the Uruguayan Agency for Electronic Government and Information Society. Indicators are categorized according to a consolidated intellectual capital model. The Taxonomy is mapped at the indicator level against the EGMM subareas covering all of the relevant aspects associated with the intangible IT assets of the Public Administration in Uruguay. The main challenges and future lines of work for building a consolidated maturity model of IT intangible assets in Public Administration are also presented.

scholarly journals Is There Any Relation between Intellectual Capital and the Capital Structure of a Company? The Case of Polish Listed Companies

e-Finanse ◽  
2015 ◽  
Vol 11 (4) ◽  
pp. 23-33
Author(s):  
Monika Bolek ◽  
Katerina Lyroudi
Keyword(s):  
Capital Structure ◽  
Intellectual Capital ◽  
Intangible Assets ◽  
Stock Exchange ◽  
Equity Capital ◽  
Warsaw Stock Exchange ◽  
Relationship Of ◽  
The Relationship ◽  
A Company ◽  
The Capital Structure

Abstract This study investigates the relationship of the intellectual capital of a company (proxied by its intangible assets), with leverage and equity and capital structure. Our empirical results indicate that there is a negative relation between the intellectual capital (intangible assets) of a company and its leverage based on the Warsaw Stock Exchange main market and NewConnect alternative market. Moreover, the equity capital is found positively related to the level of intangibles in each of the two markets. These results support the thesis that intellectual capital (intangible assets) influences the capital structure of a company.

scholarly journals Analisis Modal Intelektual Dan Kinerja Keuangan Serta Pengaruhnya Terhadap Nilai Perusahaan

2019 ◽  
Author(s):  
Riski Wahyudi ◽  
Lidya Martha
Keyword(s):  
Financial Performance ◽  
Intellectual Capital ◽  
Firm Value ◽  
Stock Exchange ◽  
Value Added ◽  
Financial Statements ◽  
Manufacturing Companies ◽  
Return On Assets ◽  
Book Value ◽  
Company Value

This study aims to examine the effect of intellectual capital and financial performance on the value of companies in manufacturing companies listed on the Indonesia Stock Exchange (IDX). The research population is all manufacturing companies listed on the Indonesia Stock Exchange for the period 2013 - 2017. This sample was selected using a purposive sampling method with sample criteria. Manufacturing is listed on the IDX during the end of 2017 period, Manufacturing is listed consecutively during the period 2013 - 2017, Manufacturing that uses Rupiah, Manufacturing that has complete financial statements for the period 2013 - 2017, Manufacturing that has financial data in accordance with the variables to be tested, namely Price to Book Value, Value Added Intellectual Coefficient, Return On Assets, and Manufacturing that does not has data outliers, and obtained a sample of 11 companies. The data source is the annual financial statements of manufacturing companies taken through the official website of the Indonesia Stock Exchange ( www.idx.co.id ). Testing uses panel data regression analysis with the Eviews Program tool. Intellectual capital is measured using Value Added Intellectual Coefficient (VAIC), while financial performance is measured by Return on Assets (ROA) and company value measured by Price to Book Value (PBV). The results showed that the variable intellectual capital had a negative and not significant effect on firm value, while financial performance had a positive and significant effect on firm value.

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