Intangible Assets in Capital Market-oriented Accounting Research: A Review of the Empirical Literature on their Relevance for the Valuation of Companies
The research stream on the relevance of intangible assets for the valuation of companies at the level of capital markets has been developing with a sustained interest, which finds its full justification in the current accounting model, where controversies on the accounting treatment of these assets...
| Main Authors: | , |
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| Format: | Online |
| Language: | spa |
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Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba.
2017
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| Online Access: | https://revistas.unc.edu.ar/index.php/REyE/article/view/28361 |
| _version_ | 1802315322811744256 |
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| author | Ficco, Cecilia Werbin, Eliana |
| author_facet | Ficco, Cecilia Werbin, Eliana |
| author_sort | Ficco, Cecilia |
| collection | Portal de Revistas |
| description | The research stream on the relevance of intangible assets for the valuation of companies at the level of capital markets has been developing with a sustained interest, which finds its full justification in the current accounting model, where controversies on the accounting treatment of these assets still persist. In this context, the present research aims to review the empirical literature that has examined the value relevance of intangible assets, in order to present the current state of research in this area. From the methodological point of view, a descriptive and documentary investigation has been carried out, concretized through the review and analysis of the most significant literature produced in the last three decades and in different accounting environments. The review reflects strong evidence regarding the existence of a significant and positive association between the global figure corresponding to intangible assets and the market value of companies shares, as well as between that value and the item referred to identifiable intangible assets. However, the evidence is not entirely conclusive regarding the value relevance of goodwill. It is also noted that most of the studies have been carried out on capital markets with an important degree of development. |
| format | Online |
| id | oai:ojs.revistas.unc.edu.ar:article-28361 |
| institution | Universidad Nacional de Cordoba |
| language | spa |
| publishDate | 2017 |
| publisher | Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba. |
| record_format | ojs |
| spelling | oai:ojs.revistas.unc.edu.ar:article-283612022-04-06T17:40:56Z Intangible Assets in Capital Market-oriented Accounting Research: A Review of the Empirical Literature on their Relevance for the Valuation of Companies Los Activos Intangibles en la Investigación Contable orientada al Mercado de Capitales: Revisión de la literatura empírica sobre su relevancia para la valoración de las Empresas Ficco, Cecilia Werbin, Eliana intangible assets value relevance capital markets M41 E22 G32 activos intangibles relevancia valorativa mercados de capitales M41 E22 G32 The research stream on the relevance of intangible assets for the valuation of companies at the level of capital markets has been developing with a sustained interest, which finds its full justification in the current accounting model, where controversies on the accounting treatment of these assets still persist. In this context, the present research aims to review the empirical literature that has examined the value relevance of intangible assets, in order to present the current state of research in this area. From the methodological point of view, a descriptive and documentary investigation has been carried out, concretized through the review and analysis of the most significant literature produced in the last three decades and in different accounting environments. The review reflects strong evidence regarding the existence of a significant and positive association between the global figure corresponding to intangible assets and the market value of companies shares, as well as between that value and the item referred to identifiable intangible assets. However, the evidence is not entirely conclusive regarding the value relevance of goodwill. It is also noted that most of the studies have been carried out on capital markets with an important degree of development. La investigación en torno a relevancia de los activos intangibles para la valoración de las empresas a nivel de los mercados de capitales viene desarrollándose con un sostenido interés, el cual encuentra su plena justificación en el marco del modelo contable actual, donde aún persisten las controversias con relación al tratamiento contable de estos activos. En este marco, la presente investigación tiene como propósito revisar la literatura empírica que se ha ocupado de examinar su relevancia valorativa, a fin de presentar el estado actual de la investigación en esta temática. Desde el punto de vista metodológico, se ha realizado una investigación descriptiva y de tipo documental, concretada a través de la revisión y análisis de la literatura más significativa producida en las últimas tres décadas en distintos entornos contables. La revisión realizada refleja evidencias sólidas en torno a la existencia de una asociación significativa y positiva entre la cifra global correspondiente a los activos intangibles y el valor de mercado de las acciones, como así también entre dicho valor y la partida referida a los activos intangibles identificables. Sin embargo, la evidencia no es del todo concluyente en lo que respecta a la relevancia valorativa de la llave de negocio. Instituto de Economía y Finanzas. Facultad de Ciencias Económicas. Universidada Nacional de Córdoba. 2017-12-01 info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion application/pdf https://revistas.unc.edu.ar/index.php/REyE/article/view/28361 Revista de Economía y Estadística; Vol. 55 No. 1 (2017); 7-43 Revista de Economía y Estadística; Vol. 55 Núm. 1 (2017); 7-43 2451-7321 0034-8066 10.55444/2451.7321.2017.v55.n1 spa https://revistas.unc.edu.ar/index.php/REyE/article/view/28361/29556 Derechos de autor 2017 Cecilia Ficco, Eliana Werbin http://creativecommons.org/licenses/by-nc-nd/4.0 |
| spellingShingle | intangible assets value relevance capital markets M41 E22 G32 activos intangibles relevancia valorativa mercados de capitales M41 E22 G32 Ficco, Cecilia Werbin, Eliana Intangible Assets in Capital Market-oriented Accounting Research: A Review of the Empirical Literature on their Relevance for the Valuation of Companies |
| title | Intangible Assets in Capital Market-oriented Accounting Research: A Review of the Empirical Literature on their Relevance for the Valuation of Companies |
| title_alt | Los Activos Intangibles en la Investigación Contable orientada al Mercado de Capitales: Revisión de la literatura empírica sobre su relevancia para la valoración de las Empresas |
| title_full | Intangible Assets in Capital Market-oriented Accounting Research: A Review of the Empirical Literature on their Relevance for the Valuation of Companies |
| title_fullStr | Intangible Assets in Capital Market-oriented Accounting Research: A Review of the Empirical Literature on their Relevance for the Valuation of Companies |
| title_full_unstemmed | Intangible Assets in Capital Market-oriented Accounting Research: A Review of the Empirical Literature on their Relevance for the Valuation of Companies |
| title_short | Intangible Assets in Capital Market-oriented Accounting Research: A Review of the Empirical Literature on their Relevance for the Valuation of Companies |
| title_sort | intangible assets in capital market oriented accounting research a review of the empirical literature on their relevance for the valuation of companies |
| topic | intangible assets value relevance capital markets M41 E22 G32 activos intangibles relevancia valorativa mercados de capitales M41 E22 G32 |
| topic_facet | intangible assets value relevance capital markets M41 E22 G32 activos intangibles relevancia valorativa mercados de capitales M41 E22 G32 |
| url | https://revistas.unc.edu.ar/index.php/REyE/article/view/28361 |
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