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This article analyzes the links between financial reports and reputation in the context of Finnish public sector organizations. In general, the paper discusses the accounting treatment of intangible and tangible assets and the quality and relevance of public sector financial reporting.

For data, we combine three data sets: financial statement information of eight anonymous Finnish public organizations, the results of a reputation survey among their key stakeholders (N = 914) and a sample of the social media sentiment around the organizations.

Our findings suggest that a decrease in spending and, surprisingly in the nonprofit sector, an increase in the surplus, indicate better perceived financial performance. An increase in surplus is positively linked with the reputational factors, for example, trust. However, disclosing excessive amounts of information, for example, in financial reporting seems to contribute to negative discussions on social media.

We highlight the importance of managing intangibles, including those not recognized in the balance sheet, such as reputation. We present three propositions with potential managerial relevance.

Despite the considerable amount of financial information disclosed by public sector organizations, few studies have analyzed its relevance or connection to reputation. This first-of-a-kind paper combines intangible and tangible assets by analyzing how financial data and intangible reputation are linked in the public sector accounting context. Six reputational factors were discovered, and financial performance was found to correlate with trust in the public sector.

This paper aims to revisit the relationship between intangible capital and labour productivity growth using the largest, up-to-date macro database (2000–2015) available to corroborate the econometric findings of earlier work and to generate novel econometric evidence by accounting for times of crisis (2008–2013) and economic recovery (2014–2015).

To achieve these aims, this paper employs a cross-country growth accounting econometric estimation approach using the largest, up-to-date database available encompassing 16 EU countries over the period 2000–2015. The paper accounts for times of crisis (2008–2013) and of economic recovery (2014–2015). It separately estimates the contribution of three distinct dimensions of intangible capital: (1) computerized information, (2) innovative property and (3) economic competencies.

First, when accounting for intangibles, the paper finds that these intangibles have become the dominant source of labour productivity growth in the EU, explaining up to 66 percent of growth. Second, when accounting for times of crisis (2008–2013), in contrast to tangible capital, the paper detects a solid positive relationship between intangibles and labour productivity growth. Third, when accounting for the economic recovery (2014–2015), the paper finds a highly significant and remarkably strong relationship between intangible capital and labour productivity growth.

This paper corroborates the importance of intangibles for labour productivity growth and thereby underlines the necessity to incorporate intangibles into today's national accounting frameworks in order to correctly depict the levels of capital investment being made in European economies. These levels are significantly higher than those currently reflected in the official statistics.

Intangible capital (IC) is an important factor for economic growth and firm performance. The role IC has played has become even more crucial in recent decades, possibly influencing debt capacity and default risk assessment. This paper studies how entrepreneurial and employee-based IC affects financial leverage.

Employer–employee unbalanced panel data provided by Statistics Finland that refer to Finnish small and medium-sized enterprises (SMEs) are used. Intangibles are measured with an expenditure-based method. Employee-based IC and entrepreneurial knowledge are used to explain debt financing in SMEs.

The findings imply that IC-intensive firms have less debt capacity due to weak pledgeability and asymmetric information between borrower and lender. Entrepreneurs with managerial or financial knowledge increase the firm's debt capacity compared to other entrepreneurs, especially in knowledge-intensive services (KIS). One explanation is that the entrepreneurs are more competent in negotiating with lenders as the entrepreneurs possess better financial skills. Entrepreneurs with technical knowledge decrease the firm's debt capacity in all industries.

While some earlier research focused on the IC–financial leverage relationship, hardly any study has looked at entrepreneurial IC. This paper provides new insights by including entrepreneurial IC alongside employee-based IC.

The intangible assets of a company have been presented by national and international surveys as a resource to influence the creation of value and the increase in organizational performance. In view of this, this study aims to analyze the relationship between intangibility and the performance of companies in Latin America.

For this purpose, multiple regression with panel data was used and three perspectives for measuring intangible resources were defined: representativeness of the intangible asset, accounting measure for measuring the intangible, degree of intangibility and Tobin’ Q, the latter two representing economic and financial measures to determine intangibility. The study covered the period from 2011 to 2017 with a sample of 1,236 publicly traded companies located in some Latin American countries, namely, Argentina, Brazil, Chile, Colombia, Mexico and Peru.

The results demonstrated the existence of a significant and positive relationship between the variables of intangibility, degree of intangibility and Tobin’s Q, and the performance variables, return on assets, operating margin and asset turnover, reinforcing the study hypothesis that the greater the investment in intangible resource, the greater the company’s performance.

The limitations of this study involve the lack of complete information about intangible resources in the financial statements of some companies and some countries, making it hard to analyze the proposed relationship more broadly and accurately. Another limitation involves the causal relationship that may have existed between the regressors of the models defined in the study and their error, thus generating an endogeneity problem in the proposed models. It is recommended for future research to use specific methods to mitigate possible problems of endogeneity in regressions.

Mainly the possibility of deepening the relationship between intangibility and business performance, thus obtaining new knowledge through the reflexes of this relationship on companies in Latin American countries, finding more consistent results.

The study contributes to the decision-making process in the business world by informing the primary users of accounting information such as investors, administrators, accountants, regulators and creditors.

This research contributes by addressing a theme whose studies present many gaps, making it possible to deepen the relationship between intangibility and business performance and gain new knowledge through the reflexes of this relationship on companies in Latin American countries.

This article analyzes the concepts of experience economy and promotion of authenticity at The Venetian Hotel and Casino in Las Vegas by exploring the resort's tangible and intangible heritage use in design and marketing strategies.

This qualitative study conducts a content analysis of marketing material, historical documents, and site observations.

Visitors' active involvement, combined with The Venetian's use of tangible and intangible heritage, is used in creating an authentic themed experience. In addition, our study suggests that authenticity constitutes a key concept for today's hospitality industry.

This study centers on a single case study, and requires adjustments in order to be replicated. However, The Venetian represents one of the most prominent models followed by the hospitality industry worldwide.

This analysis provides a baseline for comparison among resorts that have theming but do not integrate it in the same way, or in general, to other professionals and academics considering themed experiences.

The manuscript centers on several aspects that are being debated in numerous fields, from business to sociology, such as customers' desire for authentic experiences through the creation of themed attractions.

This research fills a gap in hospitality marketing research into authenticity and themed experience by investigating how The Venetian Hotel and Casino uses the heritage of another, tourism-focused city (Venice) to promote itself. The investigation uncovers how themed attractions in hospitality create an experience-based involvement that centers on the authenticity of the theme (in our case cultural heritage) they replicate.

The purpose of this paper is to investigate the relative contribution of tangible resource (TR) and intangible resource (IR), and capabilities on firm performance based on the measures of market share, sales turnover and profitability.

A cross-sectional survey research design was used in the study. The modified version of Galbreath and Galvin’s (2008) resource-performance questionnaire which included a total number of 45 questions was applied on 243 Turkish firms operating in different industries. The data collected were analysed by hierarchical regression analysis.

The findings revealed that IRs and capabilities contributed more greatly to firm performance compared to TRs. However, in contrast to the proposition of resource-based theory that views capabilities as the most important skills that underpin the development and deployment of both TR and IR, capabilities offered rather limited additional explanatory power to the prediction of firm performance only with respect to profitability against the combined effects of TR and IR.

The vast majority of the empirical resource-based view (RBV) research concentrates on developed countries and very little is known about results outside of this domain. This study employs Turkish business databases to assess the relative importance of TR and IR and capabilities on performance differences among firms in Turkey which was the 17th largest economy in the world trade in 2016. Second, in the RBV literature, limited research tests the contribution of capabilities to firm success after simultaneously accounting for the effects of other resources (namely, TR and IR) available to the firm. Finally, this research offers practical contributions to executives and managers who have to make adequate decisions for firm survival and growth in the competitive business arena.

The way to measure the value of an enterprise’s R&D investments remains elusive for theoretical and empirical study on innovation economics. The paper aims to discuss this issue.

This paper expands the asset-value model pioneered by Griliches (1981) and applies it for the first time to the Chinese stock market to calculate the value of R&D investment instilled by Chinese manufacturing listed companies (CMLCs) from 2003 to 2014.

The authors find that: the assets-value model can better explain the enterprise value composition of CMLCs; with equal input, the value of R&D is higher than that of tangible assets, and lower than that of organizational assets; compared with the developed countries, the R&D value of CMLCs is lower; and the R&D value of CMLCs saw a downward trend from 2007 to 2014.

Furthermore, by rationally estimating the value of organizational assets and non-tradable shares, and innovatively introducing semi-annual momentum indicators from the perspective of behavioral finance to control the influence of investor sentiment on enterprise value, this paper tries to develop the asset-value model and provides a feasible solution to the problem of measuring the value of Chinese enterprises’ R&D investment.

This paper explores which fundamental aspects of US insurance firms are significant factors in determining whether a firm will be a target or acquirer firm.

By focusing on 251 mergers and acquisitions (M&A) deals (119 target firms and 132 acquirer firms) over the period between 1990 and 2019, multinomial logistic regression results identify the determinants associated with becoming targets or acquirers.

US insurance firms are more likely to become targets if they are smaller, have lower cash holdings, are non-life, and do not have environmental, social and governance (ESG) scores. Insurance firms are more likely to be acquirers if they have higher profitability, higher cash flow and higher intangibles, and if they are non-life and do not have ESG scores. Moreover, the likelihood of becoming an acquirer decreases in times of global financial crises (GFCs) as compared to non-GFC times.

This paper is the first to utilize multi-period multinomial logistic regression analysis to investigate the determinants of selection decisions of M&A targets and acquirers in the US insurance industry.

The purpose of this paper is to create a research framework to scrutinize how individuals' digital technology use produces tangible and intangible outcomes in online (digital) and offline realms.

The paper applies the Bourdieusian e-capital perspective to create a theory-based framework. The framework was used to guide a survey design to explore women's “social media-assisted reuse” at the micro-scale in Helsinki, Finland.

The paper argues that a new form of capital emerges when individuals utilize digital technologies in correspondence to their goals to gain added value that would be impossible or significantly more arduous to gain without the digital realm. The survey indicates that the respondents utilize the digital space – set objectives and gain capital-related outcomes – in correspondence to their differing social, economic and cultural positions and related resources in- and outside of the digital realm.

If digital spaces – due to social inequality and underlying power structures – become increasingly stratified, there will be significant impacts on how individuals from differing backgrounds gain accumulated forms of capital through the digital realm. The question is of great importance for battling inequality.

The paper enhances and synthesizes recent discussions on different forms of capital and outcomes of the use of digital technologies and presents a combined “e-capital–digital divide” framework that offers a more complete agenda for investigating the finely nuanced links between the inputs, outputs and outcomes of digital technology use.

This paper analyzes the productivity effects of structural capital such as research and development (R&D) and organizational capital (OC). Innovation work also produces innovation-labor-biased technical change (IBTC) and knowledge spillovers. Analyses use full register-based dataset of Finnish firms for the period 1994–2014 from Statistics Finland.

Intangibles are derived from the labor costs of innovation-type occupations using linked employer-employee data. The approach is consistent with National Accounting and offered as one method in OECD (2010) and applied in statistical offices, e.g. in measuring software. The EU 7th framework Innodrive project 2008–2011 extended this method to cover R&D and OC.

Methodology is implementable at firm-level and offers way to link personnel reporting to intangible assets. The OC-IBTC as well as total resources allocated to OC are relevant for productivity growth. The R&D stock is relatively higher but R&D-IBTC is smaller than OC-IBTC. Public policy should, besides technology policy, account for OC and OC-IBTC and related knowledge spillovers in the industries that are most important among the SMEs (low market-share-firms).

The data are based on remote access to Statistics Finland; the data cannot be disseminated.

Intangible assets are measured from innovation work that encompasses not only R&D work. IBTC is proxied in production function estimation by relative compensations on IA work. The non-competing nature of IAs is captured by IA knowledge spillovers. The sample sizes are much higher than in earlier studies on horizontal knowledge spillovers (such as for SMEs,) thus bringing additional generality to the results.