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In 2000, Cañibano et al. published a literature review entitled “Accounting for Intangibles: A Literature Review”. This paper revisits the conclusions drawn in that paper. We also discuss the intervening developments in scholarly research, standard setting and practice over the past 20+ years to outline the future challenges for research into accounting for intangibles.

We conducted a literature review to identify past developments and link the findings to current accounting standard-setting developments to inform our view of the future.

Current intangibles accounting practices are conservative and unlikely to change. Accounting standard setters are more interested in how companies report and disclose the value of intangibles rather than changing how they are determined. Standard setters are also interested in accounting for new forms of digital assets and reporting economic, social, governance and sustainability issues and how these link to financial outcomes. The IFRS has released complementary sustainability accounting standards for disclosing value creation in response to the latter. Therefore, the topic of intangibles stretches beyond merely how intangibles create value but how they are also part of a firm’s overall risk and value creation profile.

There is much room academically, practically, and from a social perspective to influence the future of accounting for intangibles. Accounting standard setters and alternative standards, such as the Global Reporting Initiative (GRI) and European Union non-financial and sustainability reporting directives, are competing complementary initiatives.

Our results reveal a window of opportunity for accounting scholars to research and influence how intangibles and other non-financial and sustainability accounting will progress based on current developments.

The paper investigates if the process that led to the birth of the Euro Area had a significant impact in homogenizing the capital structure decisions of European firms since the first introduction of the common currency.

A large sample of firms was constructed, and a Tobit-censored regression model was utilized to investigate the determinants of firms' observed capital structures. The Black–Scholes–Merton model was used to infer market values of assets, as well as the volatility of those values, from the observed market values of equity and the corresponding volatility. The existing differences in national tax rules were considered for estimating firm-specific marginal tax rates.

It was found that, despite the currency union and the institutional harmonization process, certain factors still play a different role. In particular, the impact of profitability is consistent with the pecking order view in some countries, and with the trade-off theory in others. Assets risk, measured as the annualized volatility of the market enterprise value, is the best predictor of observed leverage ratios. The sector of activity is significant in determining leverage decisions even when assets' risk is taken into account. Despite the monetary union and the increased financial and institutional integration in the Euro Area, the country of origin still plays a significant role in capital structure decisions, suggesting that other country-level factors may affect firms' financing behaviour.

The paper indicates that, despite the long harmonization process of institutions, regulations and public budget required to join the Euro, firms' financing decisions are still affected by country-specific factors once the common currency is introduced. Therefore, new entrant countries in the Euro area should not expect their companies to immediately conform with those located in other countries within the common currency area.

This article investigated the impact of the currency change from national currencies to the Euro on the determinants of capital structure choices. It was shown that, despite the long harmonization process that led to the birth of the Euro Area, national factors still affect firms' financing decisions. This provides guidance for policymakers in countries that are planning to join the Euro about the impact this will have on firms' financing decisions in the entrant country.

The purpose of this study is to examine the dynamic relationship between intellectual capital (IC) and its components on financial performance of banks within the selected eight countries of Association of Southeast Asian Nations (ASEAN).

The study utilizes the balanced panel data of 37 publicly listed banks from eight leading ASEAN economies for the period of 2017–2021. In this sense, the authors applied the Ante Pulic's typology, i.e. value-added intellectual coefficient (VAIC™) to evaluate the efficiency of intangible and tangible assets. While, investigating the dynamic nature of relationship, the authors employed the generalized system method of moments because of its power to account for the problem of endogeneity and heteroscedasticity.

The results of the study demonstrate that banks in ASEAN countries shed a varied degree of a spotlight on VAIC™ and its components to create value. The findings revealed that structural capital efficiency is significantly associated with earning per share (EPS), return on assets (ROA) and return on equity (ROE), compared to human capital efficiency (HCE) and capital employed efficiency of ASEAN banks. These results endorse the importance of resource- and knowledge-based views of organizations to leverage the financial performance of banks. However, contrary to theoretical expectations, this study found no positive relationship between HCE with ROA and ROE. Whereas, the relationship of VAIC™ is positive and significant with EPS and ROE but it remains statistically very marginal.

There are some inherent limitations in this study that could be opportunities for future research. The current study uses the VAIC™ typology, but future researchers can use the modified value-added intellectual coefficient (MVAIC) or triangulation approach to enhance the validity and reliability of the study. Additionally, future research can investigate the similarities and differences among countries in terms of their cultural backgrounds and regulatory frameworks regarding the disclosure of intangibles. Furthermore, future research can increase the length and sample size of the study to enhance its generalizability.

The robust empirical findings extend the academic debate on IC by unveiling the dynamic nature of relationship between IC and financial performance in context of ASEAN banking sector. The findings provide plausible recommendations for policy makers (managers, regulators and stakeholders) to understand how to increase the IC efficiently, especially human capital as a source to evaluate the firms’ ability in determining value-added and financial performance. Further, findings of this study also suggest that how can policy makers get the benefit by investing more on structural capital as a valuable strategic source to guarantee the optimal performance returns.

Prior studies on IC have been country- and firm-specific, utilizing cross-sectional research designs. However, this research contributes to the limited literature by investigating the dynamic nature of the relationship between IC and financial performance of banks in the context of ASEAN countries using micro-panel data.

There is still an ongoing debate on the value relevance of capital structure and its determinants. Recently the issue has been explored in family firms after being explored in mature firms. This paper investigates the role of institutional investors and the firm's innovation activity in influencing the firm's decision and ability to acquire debt capital.

A large sample of 700 privately-held family firms in Italy from 2010 to 2019. Two analysis techniques are used: panel analysis and path analysis. The value of debt and the debt ratio are used as leverage measures. The value of patent (as a proxy for innovation) and institutional investor are the explanatory variables.

The results show that institutional investors have no relationship with financial leverage measures except when controlling for an interaction variable (Institutional investors × Lombardy region). The patent value is positively correlated with debt; however, the ratio patent-to-asset is negatively related to financial leverage indicating higher risk exposure. The nonlinearity test demonstrates a turning point when the relationship between patent value and debt inverts.

Firms should monitor their innovation activity since excessive innovation increases risk exposure and affects financing opportunities and value. The involvement of institutional investors does not always enhance value.

Existing literature focuses separately on family firm innovations and financial leverage as outcome variables, emphasizing the role of institutional investors in both fields by adopting agency theory and socioemotional wealth framework. In this study, the authors go further by merging both relationships, investigating the dynamics of the institutional-family firm innovation relationship in influencing the firm's capital structure. The authors contribute to the ongoing debate by providing original findings on capital structure, governance and innovation, supported by rigorous methods to enhance family firms' decision-making.

To delve into the integration of global logistics and supply chain networks amidst the digital transformation era. This study aims to investigate the potential role of China’s Belt and Road Initiative (BRI) in facilitating the integration of global flows encompassing both tangible goods and intangibles. Additionally, the study seeks to incorporate third-party logistics activities into a comprehensive global logistics and supply chain integration framework.

Prior research is synthesised into a global logistics and supply chain integration framework. A case study was undertaken on Yuan Tong (YTO) express group to investigate the framework, employing qualitative data analysis techniques. The study specifically examined the context of the BRI to enhance comprehension of its impact on global supply chains. Information was collected in particular to two types of supply chain flows, the physical flow of goods, and intangible information and cash flows.

The proposed framework aligns well with the case study, leading to the identification of global logistics and supply chain integration enablers. The results demonstrate a range of ways BRI promotes global logistics and supply chain integration.

The case study, with multiple examples, focuses on how third-party logistics firms can embrace global logistics and supply chain integration in line with BRI. The case study approach limits generalisation, further applications in different contexts are required to validate the findings.

The framework holds promise for aiding practitioners and researchers in gaining deeper insights into the role of the BRI in global logistics and supply chain integration within the digital era. The identified enablers underscore the importance of emphasising key factors necessary for success in navigating digital transformation within global supply chains.

This study aims to analyse the way the internal resources and their attributes contribute to the competitive advantages in an intensive organisation in knowledge of the pharmaceutical industry in an emerging market.

This is a qualitative case study focused where the NVivo software was used for information analysis and thematic analysis.

The outcomes showed that from the VRIO framework (value, rarity, imitability and organisation), the plant and equipment and the technical knowledge of its workers are the resources that, due to their attributes, especially the rare, those that grant an advantage competitive position compared to other companies in its sector. Those findings highlight that the resource-based view (RBV) is a good approximation to explain the construction of competitive advantage (CA) and, in addition, the relevance of rare attribute in pharmaceutical companies was confirmed.

The study points out empirical evidence on the relevancy of RBV, from the VRIO framework and the competitive profile matrix (CPM) for the analysis of the management of organisations from the emerging market (economy) perspective. The study also provides competitive advantage analysis tools with which managers can identify strategic resources for their companies.

The VRIO framework and CPM were integrated in the study to analyse the role of internal resources and their attributes in achieving CAs. This integration is the first time that it has been carried out in companies in the context of an emerging market.

The purpose of this research is to provide a critical review of the intellectual capital (IC) research in hospitality and tourism (HT) literature.

This study uses 141 research papers published on IC in HT between 2003 and 2021 to offer the findings of a systematic review of publications that cover the issue of IC as a holistic concept, rather than just a component of it, within the sector.

The progress on the topic is addressed. The authors' findings also reveal the related research productivity, main themes compared to other service sectors and methodologies applied in the knowledge field. In order to provide a tangible structure in the field, a research agenda is offered.

This study analyzed the development of IC research in the HT literature by focusing on journal articles in the Scopus database. The findings could aid researchers in (re)designing their study goals so they may add to both general IC literature and literature related to HT.

A strong positive relationship between IC and HT organizations’ performance has been demonstrated, but no study has previously mapped the research constituents of publications in IC research. To contribute to the endeavor of knowledge consolidation on this subject, the authors' paper covers the research that has been done so far on the under-researched issue of IC in HT from a new perspective.

Venture capital (VC) is an essential element in healthy entrepreneurial environments; therefore, many countries in developing entrepreneurial economies support the industry via direct or indirect government interventions. The purpose of this study is to examine through the example of the Hungarian market, whether direct or hybrid state involvement has contributed more to the growth of the invested enterprises. The findings are relevant in the design of government VC schemes and in the contracts mitigating the moral hazards inherent in government funding.

The basis of empirical research is a unique hand-collected database covering Hungarian government-backed VC (GVC) investments. Based on the financial data of investee firms, the authors investigate whether firms financed by hybrid VC involving market participants are able to outperform firms that receive pure public financing using panel regression.

Based on Hungarian evidence, hybrid VC-backed firms generated lower growth and employment than their purely government-backed peers. Both schemes showed meagre innovation activity. The conclusion is that because of the conflict of private and economic policy objectives in hybrid financing, the exposure of hybrid risk capital to moral hazard is higher than that of pure public financing. Private interests in hybrid funds can only improve investment efficiency if they are structured along the lines of market-based independent financial intermediation and the contracts imitate the ones existing amongst limited and general partners in private schemes.

The research covers the data of Hungarian government-backed firms by tracking the full range of 86 investments made in the purely government scheme and 340 firms that received funding in the hybrid scheme. The research focuses on two government initiatives, and the results are influenced by the specific regulation of the programs; therefore, the results cannot be generalized for all government agendas; they are indicative in the designs of the agendas.

There is a limited number of empirical studies investigating the impact of VC in developing markets, especially in the Central and Eastern Europe region. This firm-level research on the impact of public VC can help improve the effectiveness of development policies. By analysing the entirety of investments of a VC program that is near to its completion, the authors provide new insight into the efficiency and prospects of GVC schemes in the region.

In this study, we examine whether work from home (WFH) had an impact on firm productivity during the COVID-19 period.

We employ a panel fixed-effect model using 79,201 firm-quarter observations in a cross-country setting of 68 countries.

First, we find that firms that employed WFH contributed to real sector growth during the pandemic due to greater capital expenditure compared to otherwise. Second, we find that WFH amenable firms turned over assets better than less WFH amenable firms.

To the best of our knowledge, this is the first study to examine the impact of WFH on firms’ investment and efficiency using a cross-country setting.

This study aims to investigate the manufacturing reshoring decision-making content from an Eclectic Paradigm perspective.

Data were collected through a six-step systematic literature review on factors influencing manufacturing reshoring decision-making. The review is based on 100 peer-reviewed journal papers discussing reshoring decision-making contents published from 2009 to 2022.

In total, 80 decision factors were extracted and then categorized into resource-seeking (8%), market-seeking (11%), efficiency-seeking (41%) and strategic asset-seeking (16%) advantages. Additionally, 24% of these were identified as hybrid, which means that they were classified into multiple categories. Some decision factors were further identified as reshoring influencing factors (i.e. drivers, enablers and barriers).

Scholars need to consider what other theories can be used or developed to identify and evaluate the decision factors (determinants) of manufacturing reshoring as well as how currently adopted theory can be further advanced to create clearer and comprehensive theoretical frameworks.

This research underscores the importance of developing clearer and more comprehensive theoretical frameworks. For practitioners, understanding the multifaceted nature of decision factors could enhance strategic decision-making regarding reshoring initiatives.

To the best of the authors’ knowledge, this is the first study to investigate the value and practicality of the Eclectic Paradigm in categorizing factors in manufacturing reshoring decision-making content and presents in-depth theoretical classifications. In addition, it bridges the gap between decision factors and influencing factors in the decision-making content research realm.