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Article
Publication date: 4 September 2007

Annie Green

The purpose of this paper is to present valuation, economic, and corporate management aspects related to the design and implementation of intangible asset valuation in

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Abstract

Purpose

The purpose of this paper is to present valuation, economic, and corporate management aspects related to the design and implementation of intangible asset valuation in common business language.

Design/methodology/approach

The methodology or approach to identifying or naming intangible assets within the business environment was used.

Findings

The purpose of intangible asset valuation is to understand what the intangible asset is and how it affects the bottom line of the business. Understanding the reason for the intangible asset valuation, whether for tax purposes, corporate planning, or dispute resolution, is paramount when considering the nature of the intangible asset to be valued.

Originality/value

Intangible assets are generally not included in active company management. Many companies do not recognize or investigate ways to maximize the income to be derived from intangible assets or other benefits of a centralized intangible asset management program. Fundamental to valuing intangible assets are their identification and subsequent representation. As presented in this paper, the three categories of intelligence identify intangible assets by the business value drivers that comprise them.

Details

VINE, vol. 37 no. 3
Type: Research Article
ISSN: 0305-5728

Keywords

Article
Publication date: 1 December 2003

Manuel García‐Ayuso

An overwhelming literature on intangibles has been published over past three decades. Based on the evidence provided by recent research studies and the experiences of…

2323

Abstract

An overwhelming literature on intangibles has been published over past three decades. Based on the evidence provided by recent research studies and the experiences of companies and policy makers this article provides a summary of our current knowledge on intangibles and suggests some directions for future research and for the improvement of management and reporting practices, as well as of policy making.

Details

Journal of Intellectual Capital, vol. 4 no. 4
Type: Research Article
ISSN: 1469-1930

Keywords

Article
Publication date: 10 May 2013

Bernard Mnzava

The aim of this research is to analyse the impact of intangible assets on firm’s sporting and financial performance.

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Abstract

Purpose

The aim of this research is to analyse the impact of intangible assets on firm’s sporting and financial performance.

Design/methodology/approach

The hypothesis of this research was developed through grounded theory and previous findings from the literature. This study adopted multiple regression method to analyse the impact of intangible assets on sporting and financial performance.

Findings

The findings indicate that intangible assets affect both sporting and financial performance. This is consistent with resource‐based view theory, which maintains that firms achieve a sustainable competitive advantage and superior financial performance by owning or controlling intangible strategic assets. By intangible strategic assets, it is meant the specific and valuable capability that belongs to the organisation.

Research limitations/implications

The finding of this study is limited to a sample of UK listed soccer corporations. A possible opportunity of future research is to replicate the current study with other corporations and explore alternative measures of intangible assets.

Originality/value

The main innovation contained in this study relies on the measure of intangible assets. This paper employed players’ registration costs as a measure of intangible assets. To my knowledge this has not been addressed before in finance and accounting research.

Details

Sport, Business and Management: An International Journal, vol. 3 no. 2
Type: Research Article
ISSN: 2042-678X

Keywords

Article
Publication date: 1 March 2002

Jason Hurwitz, Stephen Lines, Bill Montgomery and Jeffrey Schmidt

Intangible assets have grown in size and importance to individual firms and to the economy as a whole. Many have examined and written about ways to value the intangible

3543

Abstract

Intangible assets have grown in size and importance to individual firms and to the economy as a whole. Many have examined and written about ways to value the intangible assets of firms and the overall economy. Professor Baruch Lev of New York University has developed an approach to measure intangibles performance for any company, or division of a company, that uses GAAP financial reporting and that has publicly traded equity. Professor Lev has also established how intangibles performance is linked to stock returns. The collaborative research of the co‐authors has extended this linkage by identifying certain management practices as drivers of intangibles performance. The culmination of this work is a breakthrough – for the first time, specific management practices can be linked to stock returns.

Details

Journal of Intellectual Capital, vol. 3 no. 1
Type: Research Article
ISSN: 1469-1930

Keywords

Article
Publication date: 1 March 2005

Annie Green and Julie J.C.H. Ryan

This study investigates the adequacy of existing intangible asset models and defines and codifies common principal valuation drivers of intangible assets for use in…

5915

Abstract

Purpose

This study investigates the adequacy of existing intangible asset models and defines and codifies common principal valuation drivers of intangible assets for use in enterprise balanced scorecard valuation practices of information technology (IT) firms.

Design/methodology/approach

Existing intangible asset balance scorecard valuation models and value chain models are evaluated to extract their value components and align them with performance‐based activities of the business enterprise to define a common taxonomy of value drivers of intangible assets. Chief executive officers (CEOs), chief finance officers (CFOs) and “other executives” of IT firms validate the taxonomy.

Findings

IT firms that use a standard and consistent taxonomy of intangible assets could increase its ability to identify and account for more intangible assets for measurement and valuation.

Research limitations/implications

This study is limited to the Washington Metropolitan Area, is a single sector study (IT firms), the target audience is CEOs and CFOs; and emphasis is on the Score Card (SC) type model as classified by Sveiby. Future studies could expand the geographic circumference, the scope to other industry sectors, and the target audience to other decision makers

Practical implications

The framework of intangible valuation areas (FIVA) allows a business to identify and link performance measurements/indicators to its intangible value drivers. It supports the capture and subsequent evaluation of leading and lagging indicators in the achievement of a knowledge management strategy.

Originality/value

FIVA provides a framework to have command of and access to effective utilization of business resources and knowledge, to develop, sustain and enhance its mission effectiveness and/or competitive advantage.

Details

Journal of Intellectual Capital, vol. 6 no. 1
Type: Research Article
ISSN: 1469-1930

Keywords

Article
Publication date: 1 September 2002

Tomi Hussi and Guy Ahonen

The relevance of intangible assets for financial performance is getting more widely accepted. There is also some convergence about the conceptual structure of intangibles

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Abstract

The relevance of intangible assets for financial performance is getting more widely accepted. There is also some convergence about the conceptual structure of intangibles. What has not been underlined enough yet is the synergic nature of different types of intangibles. In this paper, it is argued, in the light of a case study of nine Finnish companies, that the intangibles form a value chain of generative and commercially exploitable intangibles. Furthermore, it is argued that each company at each time has an emphasis on a certain type of intangibles, sometimes even neglecting others. The paper seeks to propose that it is important to identify the primary intangibles and their current relationships with other forms of intangibles. The management of intangibles is hence a matter of integration and delicate balance.

Details

Journal of Intellectual Capital, vol. 3 no. 3
Type: Research Article
ISSN: 1469-1930

Keywords

Article
Publication date: 12 June 2007

Larry Nash White

The purpose of this paper is to examine the needs to assess the value and impact of the intangible resources and efforts produced by the library.

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Abstract

Purpose

The purpose of this paper is to examine the needs to assess the value and impact of the intangible resources and efforts produced by the library.

Design/methodology approach

A literature overview is used to provide the background of intangibles assessment and its application in libraries, with examples of library intangible resources used and efforts produced, and reviews the possible benefits for libraries in adopting and effectively utilizing intangible assessment.

Findings

The library has multiple intangible assets, resources, and efforts it produces that are not generally accounted for in annual assessments, accountability reporting, or budget planning. Learning to account for and include the intangibles used/produced by the library will increase the library's capability to address accountability concerns of stakeholders, more effectively align the library's resources with strategic responses, and more effectively utilize intangible assets and resources.

Originality/value

Increased reporting and usage of intangible resources/products by the library could provide library administrators with a proactive means of increasing the effectiveness and scope of library assessment, valuation, and resource planning and usage.

Details

The Bottom Line, vol. 20 no. 2
Type: Research Article
ISSN: 0888-045X

Keywords

Article
Publication date: 25 October 2011

Alan Fustec and Tanguy Faroult

According to several authors 50 per cent of mergers and acquisitions (M&A) operations destroy value. The aim of this paper is to study the reasons why it happens and to…

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Abstract

Purpose

According to several authors 50 per cent of mergers and acquisitions (M&A) operations destroy value. The aim of this paper is to study the reasons why it happens and to seek to reveal that intangible assets, which are increasingly important in today's economy, must be better assessed during the due diligence phase.

Design/methodology/approach

The authors present a part of the French intangible assets measurement approach, which has been published by the French Intangible Assets Observatory. The methodology proposes an extended balance sheet which is an interesting addition to the IAS‐IFRS intangible standard. It identifies 12 classes of intangible assets including human capital and customer capital.

Findings

The paper proposes a due diligence approach, using the French methodology and applies it to the insurance sector.

Research limitations/implications

This paper is not an academic paper. However, a significant research program is now underway in France. Academic publications are expected to be submitted.

Practical implications

The practice of intangible due diligence is a key issue in today's increasingly intangible economy. This practice is on the verge of a very strong development.

Originality/value

The paper presents a systemic approach to intangible assets. It answers a key question: what are the main assets that are necessary to start and continue a process of value creation? Accounting only recognizes the intangible assets that are not overly volatile, for prudential reasons. But even if customers or teams are “too intangible” for accountants, they are required to generate cash flows. If they are not evaluated, the process of wealth creation is not under control. This is crucial in M&A.

Details

Journal of Intellectual Capital, vol. 12 no. 4
Type: Research Article
ISSN: 1469-1930

Keywords

Book part
Publication date: 14 December 2017

G. Scott Erickson and Helen N. Rothberg

This chapter examines firm strengths and weaknesses from the standpoint of intangible assets. These are compared within and across industry sectors in order to better…

Abstract

This chapter examines firm strengths and weaknesses from the standpoint of intangible assets. These are compared within and across industry sectors in order to better understand who might be a potential collaborator (or competitor) in different contexts. Establishing the conceptual basis of a range of intangibles, including data, explicit knowledge, tacit knowledge, and intelligence, the chapter moves to metrics for assessing industry averages and individual firm capabilities. Finally, several sectors in healthcare are examined, specifically identifying what kinds of collaborators would best fit with a technology-driven start-up like Theranos.

Details

Global Opportunities for Entrepreneurial Growth: Coopetition and Knowledge Dynamics within and across Firms
Type: Book
ISBN: 978-1-78714-502-3

Keywords

Book part
Publication date: 4 March 2021

Quyen T. K. Nguyen

The author examines key factors which affect intangible asset holdings of foreign subsidiaries of multinational enterprises (MNEs). The author developes the hypotheses by…

Abstract

The author examines key factors which affect intangible asset holdings of foreign subsidiaries of multinational enterprises (MNEs). The author developes the hypotheses by drawing upon the pecking order theory in the finance literature and the institution theory. The author theorizes that MNE foreign subsidiaries combine and utilize their cash holdings (finance-based firm-specific advantages [FSAs]) with host country economic freedom (host country-specific advantages [CSAs]) in their holdings of intangible assets which are internally created and/or purchased. The author empirically tests the hypotheses using a new original dataset of European subsidiaries of US MNEs. The author finds that cash holdings and host country economic freedom share a significant and positive relationship with intangible asset holdings. The author discusses the implications of the findings for theory and practice.

Details

The Multiple Dimensions of Institutional Complexity in International Business Research
Type: Book
ISBN: 978-1-80043-245-1

Keywords

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