Understanding the complexity of intangible assets

The growing importance of strategic innovation in connection to the development of leading companies heavily investing in intangible assets makes intangible asset valuation a delicate issue for academics, practitioners, and policy makers. Yet, there is still no common and standardized method to valu...

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Autores: Ajour El Zein, Samer, Consolación Segura, Carolina María|||0000-0002-9231-2137, Huertas García, Ruben
Tipo de recurso: artículo
Fecha de publicación:2020
País:España
Institución:Universitat Politècnica de Catalunya (UPC)
Repositorio:UPCommons. Portal del coneixement obert de la UPC
Idioma:inglés
OAI Identifier:oai:upcommons.upc.edu:2117/334906
Acceso en línea:https://hdl.handle.net/2117/334906
Access Level:acceso abierto
Palabra clave:Capital market
Brand valuation
Intangible assets
Valuation models
Mercats financers
Capital intel·lectual
Àrees temàtiques de la UPC::Economia i organització d'empreses
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spelling Understanding the complexity of intangible assetsAjour El Zein, SamerConsolación Segura, Carolina María|||0000-0002-9231-2137Huertas García, RubenCapital marketBrand valuationIntangible assetsValuation modelsMercats financersCapital intel·lectualÀrees temàtiques de la UPC::Economia i organització d'empresesThe growing importance of strategic innovation in connection to the development of leading companies heavily investing in intangible assets makes intangible asset valuation a delicate issue for academics, practitioners, and policy makers. Yet, there is still no common and standardized method to value intangible assets. This paper presents the main developments in intangible assets valuation and provides empirical evidence on the influence of intangible assets on investor decisions and firm valuation. In particular, this paper analyses the relationship between intangible assets, market capitalization, sales and price-earnings ratio. It uses an OLS and Fixed Effects approach and finds evidence that an increase in intangible assets increases market capitalization and sales, but has no significant impact on price-per-earnings ratio. The results suggest that intangible assets valuation might affect firm’s valuation and, therefore, there is a need of a framework to assign a value for the intangible assets.20202020-02-2820202020-12-24journal articlehttp://purl.org/coar/resource_type/c_6501VoRhttp://purl.org/coar/version/c_970fb48d4fbd8a85info:eu-repo/semantics/articleapplication/pdfhttps://hdl.handle.net/2117/334906reponame:UPCommons. Portal del coneixement obert de la UPCinstname:Universitat Politècnica de Catalunya (UPC)Inglésengopen accesshttp://purl.org/coar/access_right/c_abf2Attribution-NonCommercial-NoDerivs 3.0 Spainhttp://creativecommons.org/licenses/by-nc-nd/3.0/es/info:eu-repo/semantics/openAccessoai:upcommons.upc.edu:2117/3349062026-05-27T15:37:01Z
dc.title.none.fl_str_mv Understanding the complexity of intangible assets
title Understanding the complexity of intangible assets
spellingShingle Understanding the complexity of intangible assets
Ajour El Zein, Samer
Capital market
Brand valuation
Intangible assets
Valuation models
Mercats financers
Capital intel·lectual
Àrees temàtiques de la UPC::Economia i organització d'empreses
title_short Understanding the complexity of intangible assets
title_full Understanding the complexity of intangible assets
title_fullStr Understanding the complexity of intangible assets
title_full_unstemmed Understanding the complexity of intangible assets
title_sort Understanding the complexity of intangible assets
dc.creator.none.fl_str_mv Ajour El Zein, Samer
Consolación Segura, Carolina María|||0000-0002-9231-2137
Huertas García, Ruben
author Ajour El Zein, Samer
author_facet Ajour El Zein, Samer
Consolación Segura, Carolina María|||0000-0002-9231-2137
Huertas García, Ruben
author_role author
author2 Consolación Segura, Carolina María|||0000-0002-9231-2137
Huertas García, Ruben
author2_role author
author
dc.subject.none.fl_str_mv Capital market
Brand valuation
Intangible assets
Valuation models
Mercats financers
Capital intel·lectual
Àrees temàtiques de la UPC::Economia i organització d'empreses
topic Capital market
Brand valuation
Intangible assets
Valuation models
Mercats financers
Capital intel·lectual
Àrees temàtiques de la UPC::Economia i organització d'empreses
description The growing importance of strategic innovation in connection to the development of leading companies heavily investing in intangible assets makes intangible asset valuation a delicate issue for academics, practitioners, and policy makers. Yet, there is still no common and standardized method to value intangible assets. This paper presents the main developments in intangible assets valuation and provides empirical evidence on the influence of intangible assets on investor decisions and firm valuation. In particular, this paper analyses the relationship between intangible assets, market capitalization, sales and price-earnings ratio. It uses an OLS and Fixed Effects approach and finds evidence that an increase in intangible assets increases market capitalization and sales, but has no significant impact on price-per-earnings ratio. The results suggest that intangible assets valuation might affect firm’s valuation and, therefore, there is a need of a framework to assign a value for the intangible assets.
publishDate 2020
dc.date.none.fl_str_mv 2020
2020-02-28
2020
2020-12-24
dc.type.none.fl_str_mv journal article
http://purl.org/coar/resource_type/c_6501
VoR
http://purl.org/coar/version/c_970fb48d4fbd8a85
dc.type.openaire.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv https://hdl.handle.net/2117/334906
url https://hdl.handle.net/2117/334906
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
Attribution-NonCommercial-NoDerivs 3.0 Spain
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
Attribution-NonCommercial-NoDerivs 3.0 Spain
http://creativecommons.org/licenses/by-nc-nd/3.0/es/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:UPCommons. Portal del coneixement obert de la UPC
instname:Universitat Politècnica de Catalunya (UPC)
instname_str Universitat Politècnica de Catalunya (UPC)
reponame_str UPCommons. Portal del coneixement obert de la UPC
collection UPCommons. Portal del coneixement obert de la UPC
repository.name.fl_str_mv
repository.mail.fl_str_mv
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score 15,300724

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