Dissertations / Theses on the topic 'Intangible Assets'
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Koroviakovska, L. M. "Comparing the intangible assets standards and the structure of intangible assets by the border." Thesis, Київський національний університет технологій та дизайну, 2018. https://er.knutd.edu.ua/handle/123456789/10926.
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Siddle, Robert. "Transfer pricing and intangible assets: problem areas in addressing the transfer of intangible assets." Master's thesis, University of Cape Town, 2014. http://hdl.handle.net/11427/18614.
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In assessing the problems that arise when the practice of transfer pricing is applied to the transfer of intangible asset transfers there are certain areas and nuances that need to be recognized. These include the distinction between economic and legal ownership and the fact that the two concepts, in certain circumstance, are mutually exclusive. Furthermore, the fact that the traditional methods of transfer pricing may not be able to address the unique nature of certain intangibles and that even the more complex methods involving both parties may fall short in situations where the rights and obligations connected to the intangibles assets are not subject to written agreements or accounting standards and procedures. In delving into the interaction of these two fields I will first establish the playing field and the rules, being the practice of transfer pricing, both on the international stage and domestic level. Next it will be necessary to understand the nature of intangible assets as viewed internationally. Upon reviewing the status of intangible assets in the context of transfer pricing I hope to locate the shortcomings caused by the unique characteristic of intangibles and hopefully will be able to suggest some viable options and alternatives.
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Wyatt, Anne. "Financial analysts and intangible assets." Melbourne, Vic. : University of Melbourne, Dept. of Accounting and Business Information Systems, 2002. http://wff2.ecom.unimelb.edu.au/accwww/research/papers/0204%20AWyatt&JWong.pdf.
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"June 2002" Includes bibliographical references: (p. 30-35). The papers examines the association between the transparency of corporate financial reporting on intangible assets relative to a proxy for total intangible assets, and analyst incentives to follow firms and properties of analysts' earnings forecasts - controlling for endogeneity among these factors. More transparent financial reporting on intangible assets is measured by higher recognition of intangible assets on the balance sheet relative to a proxy variable for total (underlying) intangible assets, market value added which equals equity market value minus book value with intangible assets subtracted. The results suggest (1) a reputation for transparent financial reporting on intangible assets is associated with increased demand for analyst research and thus analyst following incentives; and (2) a reputation for less transparent reporting on intangible assets is associated with higher forecast dispersion and errors due to analysts' greater reliance on their own private information. The study extends research on determinants of analyst following, forecast dispersion and accuracy, and research on the impact of public disclosure on private information acquisition activity.
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Aksin-Sivrikaya, Sezen. "Essays in Intangible Corporate Assets." Doctoral thesis, Humboldt-Universität zu Berlin, 2021. http://dx.doi.org/10.18452/22870.
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In einer zunehmend vernetzten Welt befinden sich Unternehmen in einem komplexen Beziehungsgeflecht aus verschiedenen Akteuren. Dies stellt eine Herausforderung für die Existenz traditioneller Geschäftsmodelle dar, da Firmen sich mit Konkurrenz aus allen Richtungen auseinander setzen müssen. In einem solchen Geschäftsumfeld werden immaterielle Vermögenswerte zunehmend als Grundlage für Wettbewerbsvorteile angesehen. Die Dissertation untersucht den materiellen Nutzen immaterieller Vermögenswerte und konzentriert sich dabei insbesondere auf die Unternehmensreputation und deren Einflussfaktoren. Wir verwenden als Theorie den Ressourcen-basierten Ansatz des Unternehmens und leiten unsere Hypothesen aus der vorhandenen Literatur ab, insbesondere in den Bereichen Reputation, Führung, Stakeholder-, Legitimitäts- und Signaling-Theorie. Unsere Analysen sind auf Umfragen des Manager Magazins und „Gold Bee Corporate Responsibility Assessment System“ basiert. Bei der Durchführung der quantitativen Analyse verwenden wir Strukturgleichungsmodelle.
Die Implikationen dieser Dissertation lassen darauf schließen, dass es einen Business Case für ein aktives Reputationsmanagement sowohl auf Unternehmensebene als auch auf individueller Ebene für Führungskräfte, vornehmlich für den CEO, gibt. Weiterhin ist eine hohe Reputation ein nachhaltiger Wettbewerbsvorteil, da sie die Wettbewerbsposition des Unternehmens gegenüber den Wettbewerbern stärkt und potentiell neuen Wettbewerbern den Markteintritt erschwert. In ähnlicher Weise kann eine hohe CEO-Reputation als Instrument der Risikoreduzierung in Krisenzeiten genutzt werden. Außerdem zeigen unsere Ergebnisse, dass die ausschließliche Einhaltung von Regeln und Regulierungen nicht mehr ausreichend ist. Damit die Stakeholder Fortschritte belohnen können, muss das Management CSR-Programme etablieren, die bei ihren Stakeholdern Resonanz finden, und darüberhinaus kontinuierlich über die CSR-Leistungen ihres Unternehmens berichten.In a digital world, the very existence of traditional business models is challenged as firms face disruptive innovation and intense competition. In such a business environment, intangible assets are increasingly perceived as the basis of competitive advantage. This thesis explores tangible benefits of intangible assets, specifically focusing on corporate reputation and CSR reporting quality. We take a resource-based view (RBV) of the firm and derive our testable hypotheses from the extant literature mostly in reputation, leadership, stakeholder theory, legitimacy theory, and signaling theory. Our data is mainly drawn from surveys conducted by Manager Magazin and Gold Bee Corporate Responsibility Assessment System, which has been developed by the CSR Reporting Research Group at the WTO Guide CSR Development Center. In performing our calculations, we adopt a (generalized) structural equation modeling approach. In our work, we uncover antecedent processes behind reputations. Our results imply that there is a business case for active management of both corporate and individual reputations by illustrating the link between reputations and firm outcomes. We show that corporate reputation can be utilized as a tool to protect and defend competitive positions, which can also work as a deterrent for potential market entrants. We further show that individual reputations may act as a medium to mitigate negative news and improve stakeholder perceptions in times of crises. Our findings also indicate that nonfinancial metrics are gaining prevalence. We illustrate that mere compliance with rules and regulations does not suffice anymore since in order for stakeholders to reward social and environmental progress, companies need to partake in CSR programs that resonate with their stakeholders and properly communicate associated nonfinancial metrics, which in turn will help improve firm outcomes through boosting internal and external intangible assets.
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Zinchenko, A. V., and M. V. Hissa. "Evaluation of using intangible assets." Thesis, КНУТД, 2016. https://er.knutd.edu.ua/handle/123456789/4846.
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Linnell, Erika. "Transfer Pricing : Approaching and Aligning Intangible Assets." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Juridik, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-28681.
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Zinchenko, O., and L. Korov'yakovska. "Economic essence and classification of intangible assets." Thesis, Київський національний університет технологій та дизайну, 2017. https://er.knutd.edu.ua/handle/123456789/7093.
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Du, Ruixue. "Intangible Assets Valuation in the Hospitality Industry." Diss., Virginia Tech, 2013. http://hdl.handle.net/10919/50577.
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Market value of firms and book value of firms are rarely the same. The difference, which is attributed to unrecorded or unrecognized intangible assets, has increased significantly since the 1970s. The issue of appropriately valuing these intangible assets, however, still remains unresolved. The purpose of this study is to address this lack of understanding of valuing intangible assets in the hospitality industry. Five intangible asset investments: Research and Development, Training, Advertising, Labor, Pension, and one business model, Franchising, are chosen as the valuation constructs in this study based on previous research in the hospitality industry. The valuation models for the casual dining restaurant industry and the quick service restaurant industry are compared.
The sample of this study includes 13 casual dining restaurant firms and 12 quick service restaurant firms. Compustat North America is the primary data source for this study. The annual data for casual dining restaurant firms from 1980 to 2011 is collected from this database. There are 238 firm-years in total. Two firm-years are excluded due to systematic missing values, and 15 firm-years are excluded due to missing share price information. Thus, the final count of data points for casual dining restaurant firms usable for analysis purposes is 221. The annual data for quick service restaurant firms from 1980 to 2011 is also collected from the Compustat North America database. There are 251 firm-years in total. Eight firm-years are excluded due to systematic missing values, and 47 firm-years are excluded due to missing share price information. Thus, the final count of data points for quick service restaurant firms usable for analysis purposes is 196.
Pearson correlation and multivariate analyses are performed to answer the four research questions in this study. Two hypotheses are supported while one hypothesis is not supported and one hypothesis remains unanswered due to Multicollinearity issues identified in multiple regression models. The results of this study show that 1) R&D, training, advertising, labor and pension are all important valuation constructs in the hospitality industry, and 2) there are some differences, however, between casual dining restaurant firms and quick service restaurant firms. This study fills the gap in the current literature by providing a quantitative method to value intangible assets in the hospitality industry that uses the valuation constructs identified in previous hospitality research. The practical implications of this study will provide managers in the hospitality industry with helpful insights for strategic decision making, specifically in regards to research and development, advertising and employee compensation.Ph. D.
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Wu, Bochen. "Intangible Assets and Financial Analysts Herding Behaviour." Thesis, The University of Sydney, 2017. http://hdl.handle.net/2123/17637.
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The question of whether financial analysts provide unbiased forecasts based on the information available to them has been widely discussed in the finance and accounting literature. Financial analysts play a vital role in disseminating information, and their forecasts are important inputs to financial markets. Hence, there is a pressing need to comprehensively understand their forecasting behaviour. Prior studies suggest that financial analysts tend to “herd”, i.e., produce forecasts that imitate each other’s, to avoid the risks to their future careers and reputations inherent in producing bad forecasts. However, the increasing presence and significance of firms’ intangible assets, combined with the difficulty of their valuation, has made analysts’ forecasting tasks increasingly challenging. This study investigates analyst herding behaviour, particularly that which is associated with the intensity of firms’ intangible assets. I used three accounting-based proxies to identify a positive association between firm-specific intangible assets and analyst herding behaviour. More specifically, I first investigated analysts’ herding tendencies at the individual level by examining revised earnings forecasts. As expected, all three proxies were positively and highly significantly, demonstrating that the probability of issuing a “herd forecast” increases with the amount of intangibles of the firm being analysed. The empirical results also demonstrate that analysts’ general experience does not significantly decrease their tendency to herd, while firm-specific experience does. This indicates that firm-specific knowledge or networking may help analysts to obtain high quality private information which helps them to avoid herding. Secondly, at the aggregate level (firm level), I examined the combination of cross-sectional forecast errors and the standard deviations of earnings forecasts. These were used to measure analyst herding behaviour. I found a positive association between firm-specific intangibles and analyst herding behaviour after controlling for various firm characteristics. In addition, compared with analysts who only provided earnings forecasts, analysts who issued both earnings and cash flow forecasts were less likely to herd when covering firms with intensive intangible assets. Finally, consistent with prior research, I found a negative association between analyst herding behaviour and firm market value. An additional determinant of analyst herding behaviour was found, which implies that financial analysts are less confident in their private information when the firms they are analysing have a high intensity of intangible assets. In addition, the results of this thesis confirm the notion that herding behaviour is correlated with task difficulty. This thesis has valuable implications for information dissemination mechanisms in financial markets. The private information of analysts tends to be underweighted and not fully reflected in their earnings forecasts.
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Dupree, Lee. "Valuation Strategies for Small Businesses' Intangible Assets." ScholarWorks, 2019. https://scholarworks.waldenu.edu/dissertations/7135.
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Small business owners who attempt to sell their businesses may not receive full value if they do not adequately value their intangible assets. The purpose of this multiple case study was to explore effective strategies business leaders used to value intangible assets when considering the sale of their businesses. The participants for this study were 5 business owners in a metropolitan area in the southeastern United States who had successful valuation experiences during the sale of their businesses. Data were collected through semistructured interviews with participants, methodological triangulation, observations, and review of company documents. Data were analyzed using thematic analysis, coding narrative segments, and reviewing secondary data. The themes that emerged from data analysis include collecting and using company data concerning intangible assets; hiring a reputable accounting firm to assist in valuation; understanding the values of brand, customer base, and goodwill; and choosing the appropriate asset valuation approach. To accurately value the intangible assets of their businesses, the most significant and recurring theme in the participants' responses was the need for assistance from a reputable accounting firm. The implications of this study for positive social change include the potential to enhance the economic investment in local areas where business owners appropriately value intangible assets.
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Litvinenko, A. L. "Accounting Peculiarities of Intangible Assest at the Enterprise." Thesis, Київський національний університет технологій та дизайну, 2017. https://er.knutd.edu.ua/handle/123456789/7769.
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Karjalainen, P. (Pasi). "Valuation of intangible assets in different financial environments." Doctoral thesis, University of Oulu, 2007. http://urn.fi/urn:isbn:9789514284403.
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The purpose of this dissertation is to investigate the valuation of intangible assets in different financial environments. Value relevance of intangible investments has been largely recognized by indicating their close relatedness on future operating performance and valuation of firms. The financial environment of the country (market- or bank-based) is also found to be an important determinant of the economic performance of the firm. This thesis combines these two important issues by examining how a country's financial system affect the firm's investments and valuation of intangible assets.
The study consists of four essays and an introductory section. Essay I investigates the firm's investments in human capital in different legal- and financial environments. The results of this study indicate that human capital asset constitutes an essential part of the market value of firms in all our sample countries. The results also suggest that firms make investments in human capital to increase their innovation capabilities and to improve their future benefits.
Essay II investigates the firm's investments in R&D capital in different financial systems. The common result concerning both financial system is that the estimated R&D capital constitutes a great part of the firm's unrecorded goodwill. The main finding of the study is that the effects of the firm's past profitability and growth on its estimated R&D capital are stronger in bank-based than market-based financial systems. This result emphasizes the role of bank-based financing over market-based financing in the efficiency of resource allocation to R&D investments.
Essay III investigates the stock market's response to the firm's R&D investments in different financial systems by taking account of lead-lag structure between the firm's R&D investments and its market value. The main result of the study is that the stock markets' response to current R&D investments varies between different financial systems with regards to the point in time against which the stock market response is examined. This study suggests that information disclosure policies, level of stock-market expectations and attitude towards risk are the most important potential factors that explain the valuation differences of R&D between market- and bank-based financial systems.
Essay IV investigates the effect's of a country's financial system on current R&D investments and the future profitability of the firm. The main results of this study can be summarized as follows: the firm's current R&D investments are more strongly associated with the level of future firm profitability in bank-based than market-based financial system whereas current R&D investments are more strongly associated with the uncertainty of future firm profitability in market-based than bank-based financial system. The findings of this study suggest that differences in the valuation of R&D between market-based and bank-based financial systems mainly depends on the information asymmetry between the firm and its investors.
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Aksin-Sivrikaya, Sezen [Verfasser]. "Essays in Intangible Corporate Assets / Sezen Aksin-Sivrikaya." Berlin : Humboldt-Universität zu Berlin, 2021. http://d-nb.info/1234451018/34.
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Dobrotková, Kamila. "Recognition of Omitted Intangible Assets: Risks and Rewards." Master's thesis, Vysoká škola ekonomická v Praze, 2015. http://www.nusl.cz/ntk/nusl-207049.
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The aim of this thesis is to analyse the research area of omitted intangible assets from the balance sheet and consider rewards of their potential recognition in the statement of financial position. The theoretical part provides the reader with the current regulation in force and compares it to the regulation prior the standardization and convergence process. The empirical part focuses on valuation of equity of three companies from the pharmaceutical industry based on the model pursued by American professor Stephen Penman. The values obtained are subsequently compared to market prices which are believed to reflect also the possession of omitted intangible assets. Differences identified speak in favour of potential recognition, however these are believed to be marginal comparing to probable inherent risks, which include, inter alia, stock market run-ups and earnings management.
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Schiavon, Dario <1992>. "GLI INTANGIBLE ASSETS NELLA STORIA, IL CASO SMV." Master's Degree Thesis, Università Ca' Foscari Venezia, 2017. http://hdl.handle.net/10579/11926.
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• nella mia tesi voglio analizzare, partendo dal caso delle Smalterie Metallurgiche Venete (SMV), come le competenze interne sviluppate nel corso degli anni, ed in generale il capitale intellettuale, abbiano permesso all’azienda di continuare la propria attività nonostante i vari cambi di proprietà e le crisi sopraggiunte nel corso della storia. L’intento è quello di dimostrare come gli intangible assets e, in particolar modo il capitale intellettuale, possano consentire ad un’azienda di superare periodi di crisi e addirittura diventare leader nel proprio settore, come nel caso dell’attuale Baxi. L’approccio storico a partire da un caso concreto mi offre la possibilità di compiere un’analisi accurata e di comprendere l’argomento da tutti i suoi punti di vista, anche quelli più nascosti e di non facile lettura. Consente inoltre di conoscere più da vicino un’impresa che da sola è riuscita a cambiare l’economia di una località come Bassano ed infine di constatare la presenza di uno strumento come gli asset intangibili, al giorno d’oggi molto considerato dal management ma che all’epoca era sconosciuto ai più. Nel corso della mia analisi ho intenzione di trattare anche il tema dell’evoluzione del tessuto economico bassanese in relazione alle competenze generate all’interno delle SMV.
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Danielsson, Andreas, and Fredrik Lindblad. "Unreliable Accoutning of Intangible Assets in a Digital Era : A study on the association between reliability and value relevance of intangible assets." Thesis, Linnéuniversitetet, Institutionen för ekonomistyrning och logistik (ELO), 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-105460.
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Background: The purpose of accounting and financial reporting is to provide useful information for its users in their decision-making. The importance of intangible assets for companies in the modern digital economy has led to debates concerning how it should be presented in accounting. As of today, the relevance and reliability of intangible assets can be questioned since large values of intangibles are left out of accounting and financial reports. Purpose: The aim of the study is to investigate the association between reliability and value relevance of intangible assets. Method: Using the Feltham and Ohlson (1995) model, we test the association between intangible assets and market valuation of firms. We divide the sample into reliable and unreliable and test whether there is any difference in value relevance of intangible assets between the groups. Conclusion: The result indicates, without statistical significance, that reliability seems to matter more for goodwill than for total intangibles and other identifiable intangibles. Moreover, we suggest that investors seem to focus more on accounting standards and uncertainty than management discretion when assessing reliability of intangible assets. However, we are not satisfied with how reliability has been operationalized earlier and this study reinforces our doubts. Thus, among other suggestions we propose further research directed towards investors to find out whether reliability is important and what they consider as reliable.
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Guilding, Christopher J. "Valuing and managing brands : an internal accounting perspective : an empirical investigation of attitudes to internal brand valuation and organisational and behavioural implications associated with the way that the internal brand management accounting system is operated." Thesis, University of Bradford, 1991. http://hdl.handle.net/10454/3842.
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This thesis is concerned with accounting for the brand management function. Two distinct perspectives are taken: the first derives from aspects of organisational and behavioural accounting research, and the second concerns organisational implications of brand valuation. Both perspectives were initially approached by means of exploratory interviews and a literature review. Hypotheses pertaining to the first perspective were analysed via survey data collected in nine strongly-branded, fast-moving consumer goods (FMCG) companies. Propositions concerned with the implications of brand valuation were developed and used as the basis for measuring attitudes to brand valuation. A questionnaire concerned with brand valuation attitudes was administered to senior-ranking officials in strongly-branded, FMCG companies. The final methodological phase, for both perspectives, involved a case study conducted in a strongly-branded, FMCG company. Significant findings arising from this study include: 1) Managers who see their company as being short-termist, hold more positive attitudes to brand valuation. 2) Marketing-orientated managers are more favourably disposed to brand valuation than accounting-orientated managers. 3) Organisational benefits arising from brand valuation are more strategically, than operationally, orientated. 4) Brand manager budget participation is significantly negatively-related to job-related tension, and positivelyrelated to trust in superior and attitude to reliance on accounting performance measures. 5) Budget participation is more effective in reducing jobrelated tension in situations of high, compared to low, task uncertainty situations. 6) Reliance on a brand manager's accounting performance is positively related to brand manager performance and motivation, and negatively associated with job-related tension.
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Salo, James P. "Corporate Environmental Performance: Governance, Intangible Assets, and Financial Markets." Thesis, University of Oxford, 2006. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.487052.
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Fourie, Helena Sophia. "Contentious issues in accounting for intangible assets / Helena Fourie." Thesis, North-West University, 2005. http://hdl.handle.net/10394/992.
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Intangible assets have always been a prevailing concept within the economic milieu and
hence in the accounting domain, but it has not been a prominent aspect, or even
regarded as an asset, since the emphasis in the economic environment was invariably
cast on property, production facilities and equipment.
Economic development and progress over the last +I- 30 years have plunged the issue
of intangible assets into the limelight and it has now become a bone of contention in the
doings of the financial accounting operating arena.
One has to look closely at the driving forces of the current economic environment to
grasp the newfound impetus that brought the issue to the fore. The economic
playground of the new millennium has all sorts of toys to toss around, such as
information, innovation, services and relationships. The common denominator among
these driving forces lies in its intangibility.
Users of accounting tools have stumbled across a significant dilemma by raising their
disquietude about the relevancy of financial statements where intangible assets are
concerned. There are resounding claims that intangible assets are not exhibited
accurately in the financial statements of companies.
The general objective of the research project has been to single out certain aspects
concerning the topic of intangible assets and to assert how the accounting fraternity is
dealing with the situation at hand.
The study embraced the following aspects:
*A literature study;
*Empirical research by means of a structured questionnaire that gathered data
about certain identified aspects of intangible assets and measuring how it is
handled by the respondents in the marketplace; and
*Telephonic interviews with key banking officers in the bank sector in South
Africa.
The findings of the questionnaires were used to flag crucial aspects of intangible assets
and to identify the ensuing approach needed to handle intangible assets within the
accounting body of knowledge. The results have shown that the recognition of and
reliably measuring intangible assets have become a dilemma that is, in all probability,
here to stay for a while to come. Users that responded in the empirical study clearly
indicated that the reliable measurement of intangible assets outweighs the relevancy of
information about intangible assets.
On the strength of the results of this study, by word of the users of financial statements,
the recommendation is posed that relevant, additional information regarding intangible
assets should be attached to the financial statements, or that additional notes should be
provided.
Moreover, a supplemental recommendation entails that the classification and the
recognition criteria of accounting standards should be revisited in order to establish
clearer guidelines for the identification and recognition of intangible assets.Thesis (M.Comm. (Accounting))--North-West University, Potchefstroom Campus, 2006.
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Chiefari, Costantino <1986>. "Nuovo regime fiscale per gli intangible assets: pantent box." Master's Degree Thesis, Università Ca' Foscari Venezia, 2015. http://hdl.handle.net/10579/6603.
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Liao, Chih-Hsien. "Does Corporate Governance Reduce Information Asymmetry of Intangibles?" Case Western Reserve University School of Graduate Studies / OhioLINK, 2009. http://rave.ohiolink.edu/etdc/view?acc_num=case1218675062.
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Casill, Paula. "Reliability vs. relevance : the conflict in accounting for intangible assets /." Staten Island, N.Y. : [s.n.], 2004. http://library.wagner.edu/theses/business/2004/thesis_bus_2004_casil_relia.pdf.
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Andersell, Martin, Pontus Ericsson, and Fredric Johnsson. "Immateriella tillgångar vid kreditgivningsbeslut : Assessment of intangible assets in credit decision." Thesis, Örebro universitet, Handelshögskolan vid Örebro universitet, 2011. http://urn.kb.se/resolve?urn=urn:nbn:se:oru:diva-15855.
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Samhället går mot en mer tjänsteinriktad och kunskapsintensiv produktion vilket har lett till att immateriella resurser har fått en större betydelse för företagens ekonomier. Några av resurserna uppfyller kriterierna för en tillgång och finns med i företagens balansräkningar. När företag är i behov av kapital ser bankerna till företagens balansräkningar för att göra en kreditbedömning. De måste då bedöma immateriella tillgångar. - Hur bedömer kreditgivare företags immateriella tillgångar? - Vilken betydelse har denna bedömning för kreditgivningsbeslut? Syftet med studien är att beskriva hur kreditgivare bedömer immateriella tillgångar och vilken betydelse denna bedömning har för kreditgivningsbeslut. En kvalitativ studie har genomförts där datamaterialet har samlats in genomintervjuer med respondenter från tre olika banker. Två av de undersökta bankerna bedömer inget ekonomiskt värde på immateriella tillgångar men dessa är med och påverkar helhetsbedömningen av ett företag. Betydelsen av detta är att företag med för stor andel immateriella tillgångar får svårare att bli beviljade kredit och straffas med högre kostnader. Den sista banken sätter ett ekonomiskt värde på immateriella tillgångar men värderar ned dessa med ett schablonmässigt avdrag. Konsekvensen blir att företag med stor andel immateriella tillgångar har bättre möjlighet att bli beviljade kredit. Vid större krediter finansierar banken dock inte med en lika stor del av investeringen.Society is moving towards a more service oriented and knowledge intensive production which has led the intangible resources to a major factor in companies’ economies. Some of the resources meet the criteria for an asset and is included in corporate balance sheets. When companies are in need of capital banks look to corporate balance sheets to make a credit assessment. Then they have to assess intangible assets. - How does creditors assescompanies intangible assets? - What significance does this assessment have on credit decisions? The purpose of this study is to describe how creditors assess intangible assets and the significance of this assessment for credit decisions. A qualitative study has been conducted in which data was collected through interviews with respondents from three different banks. Two of the studied banks assess no monetary value on intangible assets, but these affect the overall assessment of a company. The significance of this is that companies with a high proportion of intangible assets have harder to be granted credit and punished with higher costs. The last bank puts a monetary value on intangibles, but devaluates them with a flat rate deduction. The consequence is that firms with high proportion of intangible assets have better chances of being granted credit. For larger credits, the bank doesn't finance an equal amount of the investment.
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ALBUQUERQUE, NELSON RODRIGUES DE. "VALUATION OF INTANGIBLE ASSETS USING COMPUTATIONAL INTELLIGENCE: APPLICATION AT HUMAN CAPITAL." PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIRO, 2011. http://www.maxwell.vrac.puc-rio.br/Busca_etds.php?strSecao=resultado&nrSeq=21555@1.
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PONTIFÍCIA UNIVERSIDADE CATÓLICA DO RIO DE JANEIROCOORDENAÇÃO DE APERFEIÇOAMENTO DO PESSOAL DE ENSINO SUPERIOR
PROGRAMA DE EXCELENCIA ACADEMICA
Esta tese apresenta uma nova metodologia para valoração dinâmica do Capital Intelectual, aplicada ao Capital Humano. Trata-se de oferecer, ao tomador de decisão, uma ferramenta capaz de calcular e comparar o retorno do investimento em ativos intangíveis, como ocorre com outros ativos tangíveis. Através da metodologia proposta, denominada KVA-ACHE, é possível estimar a quantidade potencial de conhecimento humano, utilizado na geração do resultado financeiro da empresa. Essa metodologia também permite medir variações de desempenho nos processos-chave que compõem a cadeia de valor da empresa e o impacto do investimento em educação em um determinado processo. O método KVA-ACHE é composto de cinco módulos, que são executados em três fases. Na primeira fase se avalia a empresa de forma agregada, segundo seu modelo estratégico e, na segunda fase, avalia-se a quantidade de conhecimento potencial e disponível, associado a cada processo-chave. A terceira fase é aplicado o método KVA e obtido o indicador de desempenho ROI. Ao final da sua aplicação, essa metodologia permite: identificar os processos que estão drenando resultado da empresa, através da observação de indicador financeiro adaptado, como o ROIK (Return on Investment on Knowledg), identificar a necessidade individualizada de treinamento para se atingir o máximo de desempenho em um determinado processochave; analisar o impacto percebido em termos percentuais do investimento em educação, realizado em determinado processo-chave; e, finalmente, dar uma visão sobre os recursos de conhecimentos e habilidades disponíveis na equipe de colaboradores, os quais poderão ser aproveitados na avaliação de novos negócios e desafios para empresa. A principal inovação dessa metodologia está no fato de se utilizar a Teoria dos Conjuntos Fuzzy e de Sistemas de Inferência Fuzzy - SIF para transformar conceitos relacionados à disponibilidade e ao uso de conhecimento humano em valores que, dessa forma, permitem a comparação de ativos intangíveis com ativos tangíveis.
This thesis presents a new methodology for dynamic valuation of Intellectual Capital, applied to the Human Capital. It offers, to the decision-maker, a computational tool able to quote and compare the return on investment in intangible assets, as with tangible assets. Through the proposed methodology, called KVAACHE, it is possible to estimate the potential amount of human knowledge, used in generating the company’s financial results. This approach also allows the measurement of variations in performance in the key processes that make up the value chain of the company and the impact of investment in education in a given process. The method KVA-ACHE is composed of five modules, which are executed in three phases. The first phase evaluates the company on an aggregate basis, according to its strategic model, and, in the second phase, the amount of potential and available knowledge, associated with each key process, is evaluated. The third phase applies KVA method. This methodology allows: the identification of the processes that are draining the company’s income by looking at the adapted financial indicators, such as ROIK (Return on Investment on Knowledge); the individualized need for training to achieve maximum performance in a particular key process; the analysis of the impact noticed in terms of percentage of the investment in education, held in a certain key process; and finally, an insight into the resources of knowledge and skills available in the team of collaborators, which may be used in the assessment of new challenges and business to the enterprise. The main innovation of this methodology lies in the use of Fuzzy Set Theory and Fuzzy Inference Systems - FIS to transform concepts related to the availability and use of human knowledge into values, and thus allow the comparison of intangible assets with tangible assets.
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Babinec, Matúš. "Harmonization of Accounting Treatment of Property, Plant, Equipment and Intangible Assets." Master's thesis, Vysoká škola ekonomická v Praze, 2008. http://www.nusl.cz/ntk/nusl-4248.
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The globalization of world economy has inevitably affected also the movements in harmonization process of accounting standards around the world. International Financial Reporting Standards have become the ultimate accounting and reporting tool of most developed countries. The only remaining counterpart -- the US GAAP, is slowly subsiding to the enormous spread momentum that IFRS gained in recent years. In this setting I examine the application of International standards on accounting treatment of Property, Plant and Equipment, and also the Intangible Assets. Subsequently I compare this treatment to US GAAP and document all major differences still persistent at the end of year 2008. Considering that there are still many divergences between the two sets of standards, I try to document their impact on the reporting and presentation of financial statements of several blue chip companies. My analysis suggests that differences in reported numbers depending on standards chosen can distort comparability of financial statements and performance assessment, thus potentially biasing the decision making process of involved stakeholders.
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Ma, Le. "Two Studies on the Management and Economic Impact of Intangible Assets." Thesis, The University of Sydney, 2016. http://hdl.handle.net/2123/16035.
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This thesis conducts two studies on the management and economic impact of intangible assets. The first study investigates US firms’ myopic investment behaviour in technological and organisational intangibles under capital market pressure to meet earnings consensus targets. The study documents a systematic difference between the interim and fourth quarters in managing earnings towards meeting analysts’ quarterly forecasts. Managers engage in income-increasing accruals manipulation during the interim quarters when the discretion to delay expense recognition is allowed by integral accounting and audit scrutiny is absent. Managers engage in real activities management during the final quarter through reductions in R&D and SG&A expenditure, aggressive sales discounts and overproduction, given the high cost in adjusting real operations. The myopic investment behaviour of cutting R&D and SG&A spending for short-term financial benefits may be harmful to the long-term development of valuable intangibles within a firm. The second study investigates the financial impact of patents, being the output of the R&D process, on firm performance in China. It examines whether China’s unrivaled growth in patent generation is truly driven by strengthened innovativeness or whether it is a result of a spurious counting exercise directed at fulfilling centrally-imposed targets and gaining policy concessions. Using a unique patent dataset from China’s State Intellectual Property Office, the study finds that Chinese patents have positive impact on firms’ revenue and profit particularly in efficiency-driven and customer-focused industries. Patents in general exhibit a constant return to scale and appear as a complementary input to physical assets but a substitute to labour. The government’s vigorous post-2006 policy of enhancing innovation through patent generation has modest positive impact on state owned firms, but negligible impact on non-state owned firms.
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Hůlová, Radka. "Vykazování nehmotných aktiv (srovnání úpravy v ČR s IFRS)." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-114553.
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The diploma thesis focuses on comparing the accounting treatment and reporting of intangible assets in accordance with rules in the CR and IFRS. This thesis is concentrated on finding significant differences. A practical example shows the form of intangible assets in practice a few selected companies from different sectors.
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Dani, Mercedesz, and Johanna Sterner. "Management & Valuation of Intangible Assets in Swedish Holding Companies : An integrative model on how Swedish holding companies assess, evaluate and manage their intangible assets to maintain old and create new knowledge within their subsidiaries." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Företagsekonomi, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-36557.
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Background: Companies operate in a dynamic and challenging business environment with a constant battle to become and stay competitive and achieve sustainable growth. The business environment has transformed rapidly in the past decade due to major globalization and internationalization processes, which have created a demand for mapping and understanding business value and core competences. Parting from the traditional, the focus within companies and research is shifting from tangible assets to human capital, such as knowledge, as the primary competitive resource. Knowledge is a concept that is both complex and volatile. Knowledge emerges and develops through processes of each individual and also from individuals merging together into groups – making it hard to manage. Sadly, without proper management of such resources and processes, it is competitive advantage cannot be exerted. Nowadays, most companies can be identified as knowledge intensive firms, where competitive advantage is related to the ability to create and apply new knowledge through mergers and acquisitions. For about 3 decades, researchers, governments and companies have been trying to develop methods to evaluate and measure intangible assets, but there is a lack of research on how it is done in reality. Purpose: The purpose of the study is to investigate Swedish holding companies’ approach to working with intangible assets, primarily knowledge; investigating the way it is leveraged and used in the holding structure to create knowledge as a competitive resource across the entire corporation. Method: A qualitative research is used with a sample of 10 Swedish holding companies varying in size, structure and sector in order to test a proposed integrative model formulated on theory. Purposive sampling is used for participant selection based on personal networks. Conclusion: Firstly, we found that the majority of the Swedish holding companies do not have a method for evaluating intangible assets in general. In the event of mergers and acquisitions, on the other hand, human capital is emphasized as a main factor for decision making. From the managerial point of view, there is an elevating need for developing a systematic approach to assess human capital when acquiring new subsidiaries, primarily in order to understand the value and context of knowledge. Secondly, Swedish holding companies have internal structures and work-approaches to identify key persons within the newly acquired subsidiaries and transfer their knowledge to the mother company. Furthermore, they try to maintain and create knowledge by investing on education and leadership, but in general, knowledge management is done subconsciously. Therefore, the general finding of this research is that the concept of knowledge management is in the beginning of its lifetime and there is a clear need to put more managerial emphasis on restructuring processes.
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Kang, Helen Hyon Ju Accounting Australian School of Business UNSW. "Reporting intangible assets: voluntary disclosure practices of the top emerging market companies." Awarded by:University of New South Wales. School of Accounting, 2006. http://handle.unsw.edu.au/1959.4/31211.
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The purpose of financial reporting is to provide information that is useful for decision making. Recently, however, there has been a systematic decline in the usefulness of such information. Indeed, the current reporting model seems to be no longer sufficient mainly due to the fact that it ignores many of the nonfinancial intangible factors which are increasingly becoming important in determining corporate value and performance. That is, there is a need for the traditional reporting model to be modified or at least broadened to reflect Intangible Assets (IA) in order to enhance the usefulness of information being provided to different stakeholders. In the absence of mandatory reporting requirements, one alternative way of disseminating information regarding IA is to engage in voluntary disclosure practices. It has also been suggested that companies which would benefit the most from such practice are those originating from emerging economies looking to expand into international markets. While there exists an array of empirical studies which have examined the voluntary disclosure practices of corporations from developed economies, less considered are the reporting practices of emerging market companies regarding their IA. The purpose of this thesis is to examine the voluntary disclosure practices of the top 200 emerging market companies regarding the variety, nature and extent of IA and to consider some of the factors that may be associated with the level of such disclosure. Using a disclosure index based on the Value Chain Scoreboard??? (Lev, 2001), narrative sections of the 2002 annual reports of the top 200 emerging market companies are analysed. The findings indicate that emerging market companies engage in voluntary disclosure practices in order to disseminate different varieties of mainly quantitative IA information to their global stakeholders. Further, the variety and the extent of IA disclosure are associated with corporate specific factors such as leverage, adoption of IFRS/US GAAP, industry type, and price to book ratio. Contrary to the existing literature on voluntary disclosure, however, firm size and ownership concentration are not found to be associated with the IA disclosure level. Country specific factors such as the level of risks associated with economic policy and legal system are also found to be significantly associated with the IA voluntary disclosure level.
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Sandner, Philipp. "The valuation of intangible assets an exploration of patent and trademark portfolios." Wiesbaden Gabler, 2009. http://d-nb.info/996212027/04.
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Козлов, А. А., and A. A. Kozlov. "Влияние нематериальных активов на результаты деятельности предприятий промышленного комплекса : магистерская диссертация." Master's thesis, б. и, 2019. http://hdl.handle.net/10995/71079.
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At the current level of the world and Russian economy development industrial enterprises can get important advantages due to the effective formation and use of intangible resources which have a significant impact on the activities of these enterprises. The purpose of the thesis is to assess the impact of intangible assets on the industrial complex enterprises activities. The information and empirical base of the research was based on legislative acts and regulations governing commercial organizations and enterprises accounting of intangible assets, normative acts, monographic research, periodical materials, international accounting and reporting standards, guidelines, scientific works and publications of foreign and domestic economists, official statistic data of the intangible assets use by commercial organizations, reporting documents of the investigated industrial enterprise. Domestic and foreign literary sources analysis shows the unified approaches absence to the study of the problems of accounting and valuation of industrial enterprises intangible assets. Therefore, in the course of writing the master’s thesis the author’s definition of “intangible assets” was given, the classification of industrial enterprises intangible assets was clarified, and a multifactor model for evaluating the industrial enterprise’s activities results taking into account the influence of various factors including intangible assets considered and not accounted for was developed. This multifactor model which was tested on research enterprise will help to give not only an assessment of the degree of these factors impact, but also allow for a predictive check of changes in the results of the enterprise’s activity under various development scenarios.При современном уровне развития мировой и российской экономики промышленные предприятия могут получить существенные преимущества за счет эффективного формирования и применения нематериальных ресурсов, которые оказывают значительное влияние на деятельность этих предприятий. Целью диссертационной работы является оценка влияния нематериальных активов на результаты деятельности предприятий промышленного комплекса. Информационно-эмпирическая база исследования основывалась на законодательных актах и положениях, регламентирующих коммерческие организации и ведение бухгалтерского учета нематериальных активов предприятиями, нормативных актах, монографических исследованиях, материалах периодической печати, международных стандартах учета и отчетности, методических рекомендациях, научных трудах и публикациях зарубежных и отечественных экономистов, официальных статистических данных об использовании нематериальных активов коммерческими субъектами, отчетных документах исследуемого промышленного предприятия. Анализ отечественных и зарубежных литературных источников показывает отсутствие единых подходов в изучении проблематики учета и оценки нематериальных активов промышленных предприятий. Поэтому в ходе написания магистерской диссертации дано авторское определение «нематериальные активы», уточнена классификация нематериальных активов промышленных предприятий, а также разработана многофакторная модель оценки результатов деятельности промышленного предприятия с учетом влияния различных факторов, в том числе учитываемых и не учитываемых в балансе нематериальных активов. Данная многофакторная модель, которая была апробирована на исследуемом предприятии, поможет дать не только оценку степени воздействия этих факторов, но также позволит провести прогнозную проверку изменения результатов деятельности предприятия при различных сценариях развития.
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Wickerath, Susanne. "Definitions of an intangible asset : in context with HGB, IFRS and US-GAAP." Thesis, University of Skövde, School of Technology and Society, 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:his:diva-2257.
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This Bachelor thesis deals with the definition of Intangible Assets in the context of
financial reporting. The purpose is to integrate intangible assets into the balance
sheet. After a thorough analysis of the ongoing research shows that there is general
consensus concerning intellectual property, and general confusion concerning
knowledge, information and organization capital. Some have what it takes to enter
balance sheets, while others still lack a holistic concept that is generally accepted
and fulfils the demand of accounting. Neither of them is reported according to the
presently available and established knowledge. This thesis shows that a prerequisite
for an improved reporting is the consequential extension of accounting principles for
intangible assets. The fact that the term “intangible asset” became a gathering of all
possible intangible phenomena demands counter-actions. One of its reasons is the
demand for the measurement of relative performances of intangible assets. This
thesis shows that reporting absolute figures for intangible assets does not stand in
contrast with this, but can deliver the necessary data set for a holistic analysis that
also deals with intangible assets.
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Brown, Christopher J. "Factors that affect the successful commercialization of intellectual capital." Thesis, Curtin University, 2002. http://hdl.handle.net/20.500.11937/1933.
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This research has investigated factors that affect the successful commercialization of intellectual capital. The concept of social constructs of meaning for the interview participants provides the fundamental perspective of this research. The research was undertaken on the basis of a constructivist ontology, the epistemology was interpretivist, and a qualitative methodology was used. A constructivist ontology was selected due to the research aim to understand the perceptions of the interview participants. The interpretivist approach provided the framework to interpret meaning of the perceptions in the appropriate business context. The data collection methods included unstructured interviews of people holding key decision making positions within their organizations. The conceptual nature of intellectual capital and commercialization enabled the research to be viewed from a phenomenological perspective and aspects of grounded theory were applied in seeking meaning from interviewee perceptions to surface a theoretical model. The data analysis included coding of the interview transcripts utilizing NVivo qualitative research software and sorting the data into nodes. The nodes represented categories of information which became the foundations of the constructs. These nodes were examined for relationship and meaning until a theoretical model emerged from the data. The findings culminated in six (6) main constructs which were subsequently aggregated to form a composite model of factors which influence the commercialization process.In addition a further discovery was made in terms of an `Intellectual Capital Approach' model which enables a classification and hierarchical relationship of intellectual capital to be mapped as a starting point for problem solving and strategy formulation. The results of this research have immediate application to business in terms of informing management about identification of intellectual capital and to consider alternative scenarios for wealth creation by way of commercialization.
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Lee, Gyumin. "Identification of Organization-Centric Intangible Capital in the Hospitality Industry." Diss., Virginia Tech, 2011. http://hdl.handle.net/10919/77125.
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The pertinent investment in intangible assets is expected to lead to a firm's higher productivity and competitiveness. This study suggests that a restaurant firm should identify core intangible assets for its business, manage them systematically, and measure their value contribution. The essential thrust is to identify key intangible value resources and establish their measurement, which then helps measure the financial contribution of each intangible asset and make an investment decision on it. Thus, this study was purported to identify key organization-centric intangible value assets in the context of the casual dining restaurant industry, develop their measurement, and examine their contribution on a firm's market value. Findings will help improve understanding of what intangible assets are critical and apply the concept to a strategic and operational management.
Based on an in-depth literature review covering a wide range of areas, the following six of the most widely agreed upon domains of organizational capital were identified: innovation capital, organizational process capital, organizational culture capital, organizational learning capital, information system capital, and intellectual property capital. This structure of the six most important domains of organizational capital was verified through subsequent interviews with five experts, the pilot test with ten experts, and three rounds of the Delphi survey.
Seventeen sub-dimensions were identified through the literature review, interviews, the pilot test, and the Delphi study with professionals. This industry-specific categorical system helps a firm identify and manage various types of intangible resources more precisely and efficiently. Furthermore, it can enable restaurant management to clearly understand how to cope with different types of intangible resources and how to gather, create, use, share, and develop them more appropriately. The findings can be grouped into the following conclusions.
Seventy measurement indicators were developed to measure a firm's organizational capitals. Unlike using subjective perceptual measurement scales, the measured values using the objective measurement scales are consistent regardless of time or people. Therefore, the financial value (or contribution) of each of the six organizational capitals can be estimated more precisely along with the data of firms' market value.Ph. D.
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Gonzalez, Raul. "The commercialization of intangible assets : strategies for exploiting technological innovations under market uncertainty /." Saarbrücken : VDM Verlag Dr. Müller, 2008. http://aleph.unisg.ch/hsgscan/hm00242100.pdf.
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Schreiber, Susanne. "Der Ansatz von intangible Assets nach US-GAAP : zentrale Aktivierungskriterien - relevante Verlautbarungen - Systembildung /." Wiesbaden : Dt. Univ.-Verl, 2002. http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&doc_number=009810202&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA.
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Kapelko, Magdalena Maria. "Intangible assets and firm efficiency. International analysis in the textile and apparel industry." Doctoral thesis, Universitat Autònoma de Barcelona, 2009. http://hdl.handle.net/10803/3972.
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El objetivo de esta tesis es evaluar la eficiencia así como la evolución de la productividad en las empresas del sector textil y de la confección en diferentes regiones del mundo. Además, investigamos los factores que contribuyen a explicar las diferencias en cuanto a los niveles de eficiencia mostrados por las empresas bajo análisis. En particular, la tesis se enfoca en el papel de los recursos intangibles y su contribución a eficiencia empresarial. Como marco de referencia esta investigación emplea la Teoría de los Recursos y Capacidades (Resource-based View of the Firm) con su reciente desarrollo del Enfoque de las Capacidades Dinámicas (Dynamic Capabilities Approach), la Teoría de la Agencia (Agency Theory), y la Teoría Institucional (Institutional Theory). Construimos y contrastamos un modelo teórico el cual relaciona los recursos intangibles y otros factores internos y externos con la eficiencia de las empresas.
De esta forma, este estudio contribuye al desarrollo de la investigación sobre los activos intangibles mediante la introducción de un método alternativo para la medición del desempeño empresarial. Además nuestra propuesta permite abordar la eficiencia desde una perspectiva integral, donde diferentes enfoques teóricos son considerados a la hora de explicar los factores que afectan la eficiencia.
Para ello, usamos una base de datos original que se desarrolló a través de la vinculación de datos a partir de tres fuentes de información: COMPUSTAT, DATASTREAM y OSIRIS. Nuestra base de datos consta de 5477 observaciones (eficiencia estática) y 4982 observaciones (evolución de la productividad en el tiempo) de las empresas de la industria textil y de la confección en diferentes regiones del mundo para el período de 1995-2004. La mayoría de las empresas provienen de los EE.UU., Japón, China, Corea, Taiwán, Alemania y el Reino Unido (regiones de Asia, America del Norte y Europa).
La metodología empleada en esta tesis involucra: 1) el cálculo de los indicadores de eficiencia para las empresas de la muestra mediante una función distancia orientada hacia el "input", utilizando el método de Análisis Envolvente de Datos (Data Envelopment Analisis DEA); 2) el cálculo de la evolución de la productividad en el tiempo mediante la aplicación del índice de Malmquist; y 3) el contraste de las hipótesis donde empleamos un modelo de regresión truncada con datos de panel. Además, evaluamos la significancia estadística de los indicadores estáticos y dinámicos de eficiencia obtenidos mediante la aplicación de métodos de "bootstrapping".
Por último, nuestras conclusiones se presentan junto con las implicaciones que consideramos pertinentes tanto para managers como para los encargados de formular políticas de desarrollo. La referencia a las limitaciones del estudio, y algunas recomendaciones para futuras investigaciones se presentan al final del documento. La principal implicación de esta tesis indica que las empresas de la industria textil y de la confección necesitan invertir en recursos intangibles.
In this dissertation, we aim at assessing efficiency as well as productivity evolution over time of firms in the textile and apparel sector in different regions in the world, and we look at the factors contributing to efficiency outcomes. In particular, we focus on the role that intangible assets play in efficiency.
Theoretically, this research stands upon the Resource-Based View of the Firm with its recent development of the Dynamic Capabilities Approach, the Agency Theory, and the Institutional Theory. We build and test a theoretical model that hypothetically links intangible assets, other internal factors and external factors with firm efficiency.
In this way, this study contributes to the development of intangible assets research by introducing the alternative method for performance measurement, and benefits the efficiency literature by trying to integrate different theoretical perspectives considering the factors affecting efficiency.
We rely on the original dataset which was developed through the linkage of the information from three databases: COMPUSTAT, DATASTREAM and OSIRIS. It consists of 5477 observations (static efficiency) and 4982 observations (productivity evolution over time) of firms from the textile and apparel industry worldwide for the 1995-2004 time-period. The majority of companies come from the USA, Japan, China, Korea, Taiwan, Germany and the UK (regions of Asia, North America and Europe).
Methodology applied in this dissertation involves: 1) the computation of static efficiency indicators of firms in the sample by means of an input distance function using Data Envelopment Analysis (DEA) method; 2) the computation of productivity evolution over time through the application of Malmquist index; 3) the model and the hypotheses testing in the panel data truncated regression. In addition, we assess the statistical significance of static and dynamic efficiency indicators through the application of bootstrapping methods.
Finally, our conclusions are presented together with their implications for managers and policy makers, reference to the studyís limitations, and some recommendations for future research. The main implication of this dissertation indicates that textile and apparel firms need to invest in intangible assets.
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HSIEH, YUEH-HSIANG, and 謝月香. "INTANGIBLE ASSETS." Thesis, 2000. http://ndltd.ncl.edu.tw/handle/84665579784466369215.
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Huang, Mei-Yun, and 黃美雲. "Relationships between Electronic Business, Intangible Assets and Intangibles-Driven Earnings." Thesis, 2003. http://ndltd.ncl.edu.tw/handle/43802067343005224272.
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碩士國立中正大學
會計學研究所
91
With the maturity of the Internet and information technology coming today, electronic business has played an increasingly important role. However, many related empirical researches have generated some “disappointing” findings that there is an insignificant relationship between information technology investments and business performance of its bottom line (Brynjolfsson, 1993; Powell and Dent-Micallef, 1997; Strassman, 1990; Wilson, 1993). A more likely interpretation of these results can be that IT investments is only an antecedent preparation in the early stage toward complements of electronic business. In other words, in order to sustain the advantages enabled by IT and improve firms’ productivity and competitiveness, firms should integrate IT with other organizational investments such as business process and work practices in management level. Up to this point, this study represents an attempt to facilitate that electronic business would lead to profitability increases with extent to which electronic business contributes to the development of intangible assets, which have become a more and more important determinant in the competitive business environment in the era of economic knowledge. Therefore, the purpose of this study is to examine the relationships between electronic business and performance of intangible assets (i.e. Intangibles-Driven Earnings). The study also adopts Bushman et al. and Ittner et al.’s method, separating research samples into two groups - prospectors and defenders. By so doing, the relationships between business strategies, electronic business, intangible assets, and intangibles-driven earnings are examined. Multiple regression analysis and structural equation model are utilized in this study. The results suggest that little findings indicates electronic business influencing the growth of intangibles-driven earnings significantly. Whereas, results point out that electronic business is more likely to enhance the development of intangible assets among prospector-type organizations, in turn, influence the growth of intangibles-driven earnings. It is concluded that the link between firm’s unique capabilities and recourses can lead to a higher level of business performance and competitive advantages.
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Jaafar, H. "Accounting for intangible assets, firm life cycle and the value relevance of intangible assets." Thesis, 2011. https://eprints.utas.edu.au/12474/2/thesis_hartini_jaafar.pdf.
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This study examines the relationship between accounting choice for intangible assets and their value relevance as well as the moderating effect of firm life cycle on this relationship, in the pre- and post-Australian Equivalents to International Financial Reporting Standards (AIFRS) periods. In the pre-AIFRS period, Australian firms enjoyed wide discretion in accounting for intangible assets. However, with the adoption of AIFRS in 2005, managerial discretion in accounting for the assets has become more restrictive. This allows the impacts of alternative accounting practices in these two periods to be investigated.
The sample used in this study consists of 900 and 1,225 firm-years for the pre and post AIFRS period, respectively. Sample firms are classified into three life cycle stages; Growth, Mature and Decline, based on Anthony and Ramesh’s (1992) classification method. Four regression models based on the Ohlson (1995) valuation model are used in the tests of value relevance.
The findings indicate that during the pre-AIFRS period, capitalised identifiable intangible assets are regarded by the Australian market as value relevant. The results also suggest that although there is a significant difference in value relevance between Decline and Mature firms, the same effect is not present between Growth and Mature firms. Further, the results indicate that identifiable intangible assets for Growth and Mature firms are value relevant but not for Decline firms. Although the findings provide support to previous studies on the use of accounting choice as a signalling mechanism, there is also evidence to suggest that it is not employed homogeneously across firms.
A comparison between the pre- and post-AIFRS period suggests that the market attaches higher value relevance to identifiable intangible assets after the adoption of AIFRS. The findings also suggest that AIFRS implementation has led to an increase in the value relevance in all three firm life cycle stages and that there is no significant difference between these stages. Nonetheless, the impact of AIFRS implementation is more substantial for Decline firms with evidence of value relevance found only in the post-AIFRS period.
This suggests that the concerns over a more restrictive accounting treatment for intangible assets following the adoption of AIFRS could lead to firms providing less value-relevant information might be overstated and unwarranted. The findings presented in this study should be useful to both researchers and accounting standard setters in the ongoing debate on allowing managerial discretion with regards to accounting for intangible assets, particularly following the adoption of AIFRS.
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Giann-Kuo, Yang, and 楊建國. "The Valuation of Intangible Assets." Thesis, 2001. http://ndltd.ncl.edu.tw/handle/95641429670042900142.
Full textAbstract:
碩士輔仁大學
金融研究所
89
This paper describes the Financial Accounting Standards Board''''''''s proposed statement of Business Combinations and Intangible Assets as well as the International Accounting Standards Committee''''''''s International Accounting Standard IAS 38, Intangible Assets. These two important international accounting pronouncements can be applied to account for the trend in treatment of intangible assets. This paper also addresses the theories, and valuation approaches, in addition to reporting methods of intangible assets. Many studies analyze the effects of R&D, advertisement, and recognized intangible assets on stock price by using multivariate regression models. This paper analyzes not only the above items but also director and employee bonus in order to address the significance of human capital in firm valuation. The conclusions of this paper show that R&D and employee bonus, in particular stock bonus, are value-relevant.
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Wu, Yuan-Hung, and 吳元宏. "Aligning intangible assets to innovation in biopharmaceutical Aligning intangible assets to innovation in biopharmaceutical industry." Thesis, 2010. http://ndltd.ncl.edu.tw/handle/83220913397937135740.
Full textAbstract:
碩士國立高雄應用科技大學
商務經營研究所
98
This study investigates whether or not intangible asset is a source of organizational innovation according to the resource-based view of firm (RBV). Accordingly, this study designs an empirical model for verifying the influence of intangible assets on innovative capability within the Taiwanese biopharmaceutical industry. This study concerns intangible assets and, more specifically, its potential influence on innovative capability in the biopharmaceutical industry. In short, the empirical model analyzes the impacts of human capital, information capital, and organization capital on innovative capability from the resource-based and Kaplan & Norton’s perspectives. To clarify the relational influences of these contextual variables, the empirical analysis includes a structural equation modeling (SEM) that examines the hypothesized model fit and four hypotheses. The analytical results demonstrate that aligning intangible assets positively influence innovation process, and the organization capital mediates the relationship between intangible assets and innovative capability in the biopharmaceutical industry.
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Shih-Ping, Han. "Comparison the intangible assets pricing pattern-." 2004. http://www.cetd.com.tw/ec/thesisdetail.aspx?etdun=U0009-0112200611323246.
Full text
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Li, Hui-Min, and 李惠民. "Intangible Assets Valuaiton: The YHMCO Case." Thesis, 2005. http://ndltd.ncl.edu.tw/handle/56146368772491888819.
Full textAbstract:
碩士國立中興大學
財務金融學系
93
Abstract Intangible assets such as brand, service, distribution channel, management skill, R&D innovation, patents, technology, and human resource, are always at the heart of corporate success, but they have rarely been explicitly valued. This study reviews past related literature on various types of intangible asset valuation methods and assess the value of intangible assets under four models in a real case, YHMCO. These valuation models include Net Present Value Method (NPV), Relative Valuation Method, Real Options Approach (ROA), and Venture Capital Method (VC). The YHMCO case suggests that Relative Valuation Method and Venture Capital method are too simple to fully reflect the value of intangible assets while the Real Options Approach is the more accurate than other valuation methods because Real Options Approach is able to incorporate the value of management flexibility than the traditional NPV method. Since Real Options Approach makes many strict assumptions, valuing an investment project by Real Options Approach should be careful in model assumptions and variable selections. Keywords: Intangible Assets, Net Present Value, Relative Valuation, Real Options, Venture Capital
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陳冠蓉. "Evaluation of Intangible Assets- catering industry." Thesis, 2016. http://ndltd.ncl.edu.tw/handle/12751832114566552591.
Full textAbstract:
碩士開南大學
國際企業學系
104
The value of the intangible assets has already surmounted the physical assets gradually in enterprises, but it is very difficult to appraise the value of intangible assets. An effective performance evaluation method can not only help investors make investment decisions but also help managers make management decisions to improve the value of firm. We conduct extensive experiments on publicly available databases to verify the efficacy of the proposed algorithm and corroborate the above claims. This paper focuses to investigate the relative value distribution of corporate intangible assets, and this links closely to the concept and application of EVA and CIV developed by Stern Stewart Co.,(1989) and NCI.There are a lot of shortcomings in practice at present. Therefore, this article puts forward the possibility of legalization of valuation intangible assets, and expects to make the valuation system more perfect by analyzing this issue. For the purpose of exploring the importance of cost of capital on performance valuation, we tested the explanatory ability of CIV, EVA, and other evaluation index on the management performance. Our empirical results show that the CIV and EVA can explain better the added value performance. In order to close the market competitiveness, this dissertation select four publicly traded and possessed of international catering industry as research objects, which includes Wowprime, Quaker, AN-SHIN FOOD SERVICES and TTFB COMPANY LIMITED. The results indicate that the key point of creating enterprise value is not only to manage the tangible assets well but also to manage the intangible assets such as human capital, customer capital, and marketing et al., which are the key to facilitate the enterprise to win magnificent business gains. Finally, this paper suggests that future research may promote evaluation model closer to the current market condition of catering industry.
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Han, Shih-Ping, and 韓士平. "Comparison the intangible assets pricing pattern-." Thesis, 2004. http://ndltd.ncl.edu.tw/handle/39179936221372112977.
Full textAbstract:
碩士元智大學
會計學系
93
With the era of knowledge economy coming , the valuation for intangible assets becomes more and more critical .But due to the asymmetry of information in the market , there still are some issues to resolve in the valuation for intangible assets . The thesis collects some practical cases in the valuation for intangible assets , assessing the intangible assets in the cases by using revenues methods such as DCF to equity ,DCF to debt and equity ,Abnormal earnings and Abnormal NOPAT . The thesis suggests that the scenario analyzing of parameters and the assumptions between sales and items in balance sheet play key role in the valuation model . And in the case of Amazon.com , the thesis suggests that the revenue method performs better than market method.
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Wang, Yi-Ping, and 王怡蘋. "The Value Relevance of Intangible Assets." Thesis, 2012. http://ndltd.ncl.edu.tw/handle/89240777809069753049.
Full textAbstract:
碩士逢甲大學
會計所
100
In this “knowledge is power” of economic times, the recognized of intangible assets is increasingly important. Does Financial Generally standard (FAS) no.37 really solve the previous problem? Some studies said that FAS no.37 solved the original accounting conservative, making the value relevance of intangible asset increasingly; The other argument is that the FAS no.37 give management greater discretion in application of the standard. Hence, in practice, managers have a choice between capitalization and expensing, making a variety of users worried about that management could use the discretion to do earning management. In this study, to avoid self-selection bias by using Heckman(1979) two-stage regression, and the prime research design in this study is similar to Ohlson(1995) Ohlson model in several aspect. The empirical results show that the administrator in negative earnings will do the earnings management after the FAS no.37 released, but on the other hand, it can improve the previous accounting system, making the value relevance of the intangible assets increases. Hence, after FAS no.37 not only investment improve confidence in the financial statements, but also improve the value relevance of intangible assets. This result is certainly proved new standard’s contribution, however, there is need standard-setting authorities to set limitation, avoiding management to use discretion doing earning management.
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Yuan, Yi-Hsin, and 袁義昕. "Study on Intangible Assets Consideration and Taxation." Thesis, 2008. http://ndltd.ncl.edu.tw/handle/71996309960426633440.
Full textAbstract:
博士國立中正大學
法律所
96
Study on Intangible Assets Consideration and Taxation Abstract As a percentage, the proportion of enterprise intangible assets is increasing. Besides, Taiwan legislation relaxes the restraint of intangible assets as consideration. It goes without saying that the intangible assets have become so important today. In addition, in the early authority''s opinion, while shareholder made intangible assets as consideration for obtaining stocks, there was no income tax due. Lately, opinion had changed and authority argued that the income of exchange price exceeding the cost of the intangible assets belongs to the property trading income. Due to the objection voice was so loud; the legislature revised the “Statute for Upgrading Industries” and regulated taxpayer has right to suspense of tax payment in specific conditions. In order to solve these issues and cure the regulations deficiency, this article tries to integrate the relevant concept and build and construct a set of legal systems which are suitable for the intangible assets. The relevant fields of the intangible assets are very extensive; however, this article focuses on the text of intangible assets consideration and taxation. Besides, I carry out this research by using comparative analysis approach, historical approach, and law and economic analysis approach. After research we find that the definition of intangible assets are not clear, some commentaries from accounting perspective, some from appraisal perspective, and some from the legal perspective. Therefore, this article distinguishes the difference between intangible assets and intelligence capital, and mediates the accounting criteria and legal regulations in order to define intangible assets, goodwill and technology separately, and then this article shows the classes and qualification of intangible assets for determining their legal characteristics. According to the protection of all kinds of intangible assets in current legal system, intangible assets would be divided into different legal characteristics. However, the way of fundamental improvement is reviewing the discrimination between right and economical interests and enhancing the protection of intangible assets. Moreover, this article compares non-cash consideration legal systems of different foreign legislation in order to solve the issue of intangible assets as the stock consideration. Besides, this article make some suggestions as follows: (1)Repeal the restriction of the qualification of non-cash consideration principle; (2)Widen the scope of non-cash consideration; (3)Increase the decision power of shareholders'' meeting ; (4)Restrict the proportion of non-cash consideration; (5)Ensure the independence of appraisal mechanism; (6)Exempt the appraisal duty in specific condition; (7)The contributor bears value burden of proof; (8)Adopt the principle of “board of directors conduct center”; (9)Fulfill the director’s fiduciary duty. Due to lacking explicit scope and amortization standard of intangible assets in tax law, it brings many tax lawsuits and affects people''s right. Therefore, it is necessary to review current tax system. From this perspective, this article analyzes internal revenue code and US tax cases, uses taxation principle and accounting concept for sake of seeking the settlement of these issues of intangible assets. Both intangible assets consideration and taxation issues involve the value measure problems. This article introduces the development of appraisal organizations, and asserts that a clear, convincing and cogent intangible-asset valuation report should demonstrate several effective writing attributes. These attributes include: thoroughness, objectivity, understandability, coherence and documentation. In addition, the standards, premises and methods of valuation should be select very carefully. Nevertheless, Taiwan intangible assets valuation mechanism faces many challenges, including insufficient database, incomplete professional understanding, and deficient appraisal systems. This article proposes to solve the dispute effectively by legislation of intangible assets valuation. Moreover, this article estimates the effect of legislation of intangible assets valuation. In a word, intangible assets are untouchable and hard to define. How to value intangibles assets is variety. When we take economic efficiency and justice into account, a clear definition of intangible asset would benefit public welfare. This article tries to arouse the attention to the insufficient legislation of intangible assets and hopes everyone can realize the value of intangible assets.
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YANG, MORRIS, and 楊國隆. "Intangible Assets Pricing Model in Biotech Industry." Thesis, 2003. http://ndltd.ncl.edu.tw/handle/76539736577781285304.
Full textAbstract:
碩士國立中山大學
企業管理學系研究所
91
Abstract Intangible Assets Pricing Model in Biotech industry In the era of knowledge-based economic, the revenue creation model of companies are transiting from conventional fixed-assets focus to new intellectual assets, brand names, and customer needs focus. Taiwan industries also jumped into this wagon and are gradually switching from the equipment manufacturers (OEM) model focused on production to a new type of model concentrated on the conjunction of technology, brand, and services. After the revision of corporation law in 2001 to stipulate that companies are allow to capitalization of their technology or goodwill, it is becomes a must to establish a well accepted pricing model for these intangible assets to the banks or industry-wide. The key of the pricing model is how to apply the valuation rules, which are commonly for the tangible assets, to the intangible assets. The pricing model will be able to act as a start point for the traders to negotiation, and decrease the transaction costs related to information non-transparence or information gathering. This paper tried to survey all the possible pricing models, regardless of theoretical and empirical ones, and make a comparison among these models. In addition, there is an analysis of market information in biotech development. At last, this paper explored some current applied pricing models by interviewing the people in the industries and using cases studies. Although there is no wide-accepted valuation l to apply, the searching as many models as possible may provide various ways to re-evaluate pricing models, and in the hope to come up a result reflected closer to the reality.
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王慧如. "Analysts Recommendation and Intangible Assets :Life Cycle." Thesis, 2003. http://ndltd.ncl.edu.tw/handle/85051490217062416657.
Full textAbstract:
碩士國立中正大學
會計學研究所
91
Sell-side analysts summarize their opinions about stocks with stock recommendations and earnings forecasts. In this paper, we examines whether analysts recommendations and forecast are associated with intangible assets in light of business life cycle. Based on the samples listed in NYSE and NASDAQE over the year of 1991-2000, we find that (1) analysts recommendations are generally positively associated with firms’ intangible assets. (2) analysts are more likely to recommend for firms with intangible assets in the stage of growth, as opposed to the stage of stagnancy, (3) analysts long-term earnings forecasts are generally positively associated with firms’ intangible assets, while they are unrelated to firms’ intangible assets, suggesting that analysts make long-term, but not short-term stock recommendations. Finally, we also find that future prospect of long-term earnings growth are better for firms with intangible assets in the stage of growth, as opposed to the stage of stagnancy.