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1
Ajour, El Zein Samer. "Towards a better model for intangible asset valuation." Doctoral thesis, Universitat Politècnica de Catalunya, 2020. http://hdl.handle.net/10803/669923.
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Context: Intangible assets have recently come under the spotlight because of their growing importance within the business world. Thus, Brand Equity, considered a strategic asset, makes up a substantial intangible asset for most companies. Furthermore, firms’ behavior has changed with innovations incorporated in the development of businesses. Companies seek to optimize all the components of their value chain. And, a major source, is the intangible value referred to as brand equity that has so many behavioral drivers.
Objectives: To develop a new integrated valuation model and understand the factors that affect brand equity. This research explores, as well, some sources of brand equity from both internal and external perspectives at its behavioral and financial level to achieve a more accurate brand equity measurement approach. The factors we consider are firm risk, competitiveness, intellectual company weight, the weight of ethical and sustainable investments, governance dimensions of brand equity value and, in addition, the financial structure of the firms.
Method: The methodology used is exploratory and follows a deductive and inductive process. The method combines an exhaustive revision of literature to determine the most relevant factors as well as collecting financial information from a list of publicly traded companies of major brand values and generic companies in the United States of America and Europe (S&P500 & EUR600). Applying an eclectic statistical analysis using correlation and regression analysis on a model, it tests the variables that further explain brand equity and the composition of brand equity valuation model. This research also intends to understand the nature of intangible assets, to improve Damodaran ´s brand equity model as an important intangible asset, and aims to understand the factors that affect the brand equity from both internal and external perspective to contribute to both the firm and the society.
Results: The first article, Understanding the Complexity of Intangible Assets presents the main developments in intangible assets valuation, an exhaustive literature review and provides empirical evidence for the positive relationship between the increase in the proportion of intangible assets and the rise in market capitalization and sales.
The second article, Financial Firm Risk: A Responsible Business Guide Control to Build Better Brand Equity and Company Value, provides practitioners with a simple method to determine a more adjusted value to the reality of brand equity for a branded Company (without bias). As well as studying the factors related to the financial risk of the firm, the findings show that the less risk a company has, the higher their brand equity value is.
The third article, Firm Behavior, an Engineering Tool for a Better Brand Value in all Sectors, shows which are the main factors contributing to the improvement of brand value. The sectorial analysis states that corporate socially responsible practices, contribute significantly to improving the company ´s brand value.
The fourth article, The Role of Sustainability in Brand Equity Value in the Financial Sector, analyzes some determinants of brand equity in the financial sector (e.g., ethical investments, sustainability, and firm behavior) and, the results obtained raise awareness of the positive impacts of sustainable investments on the brand value in the financial sector.
Implications: The main contributions to the literature include both theoretical and methodological aspects created, as well as, considerations on intangible assets, the valuation model and behavioral factors. This thesis proposes a model and a methodology to find a fair value for a branded company by using the average sector as a generic item. It considers the performance factors that affect this intangible asset and aims for a better brand equity value.Contexto: Los activos intangibles han estado bajo el foco de atención debido a la creciente importancia que está adquiriendo en el mundo de los negocios. Tanto finanzas, contabilidad, estrategia comercial y economía están asimilando cada vez más la importancia de este tipo de activos como un componente fundamental para la empresa. En el contexto de una oferta creciente de productos y servicios, los capitales intelectuales son factores cruciales para la toma de decisiones de inversión. Por lo tanto, la equidad de marca constituye un activo intangible sustancial para la mayoría de las empresas. Para intentar maximizar este activo, la investigación actual ha propuesto varios modelos de valoración de marca. Además, el comportamiento de las empresas ha cambiado con la incorporación de las innovaciones en el desarrollo de los negocios. Las empresas hoy en día buscan la optimización de toda su cadena de valor. Y una fuente importante de valor, es el valor intangible de la equidad de marca, que tiene muchos factores que afectan a su comportamiento. En esta tesis se discuten algunos factores determinantes como el riesgo financiero de la empresa (segundo artículo), el comportamiento de la empresa (tercer artículo), las inversiones éticas y la sostenibilidad (cuarto artículo), como fuentes internas y externas que determinan la equidad de la marca. Objetivos: Desarrollar un nuevo modelo de estimación integrado y comprender los factores que afectan la equidad de marca. Esta investigación también explora algunas fuentes del valor de marca tanto desde perspectivas internas y externas como a nivel conductual y financiero para lograr un enfoque más preciso de medición de la equidad de marca. Los factores que se han considerado son: el riesgo de la empresa, la competitividad, el peso intelectual de la empresa, el peso de las inversiones éticas y sostenibles, las dimensiones de gobernanza del valor de marca y, además, la composición financiera de las empresas. Metodología: La metodología utilizada es exploratoria y sigue un proceso deductivo e inductivo. La metodología combina una revisión de la literatura para determinar los factores más relevantes, así como la recopilación de información financiera de una lista de compañías que cotizan en bolsa de los principales valores de marca y empresas genéricas de Estados Unidos y Europa (S&P500 y EUR600). Se ha aplicado un análisis estadístico ecléctico usando análisis de correlación y regresión en un modelo, probando las variables que explican mejor la equidad de marca y la composición de elementos del modelo de valoración de la equidad de marca. Esta investigación intenta entender la naturaleza de los activos intangibles, con la intención de mejorar el modelo de Damodaran de valoración de marca, como activo intangible, y comprender los factores que afectan al valor de marca desde una perspectiva interna y externa para contribuir tanto a la empresa como a la sociedad.
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Zepf, Jackson. "Inspiring Change in Intangible Asset Valuation and Identification." Scholarship @ Claremont, 2018. http://scholarship.claremont.edu/cmc_theses/1852.
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This paper will cover the reasons as to why the current accounting standards have not been updated as necessary to account for the newly developed, intangible assets or “pho-assets” that companies are either generating or using for future economic benefit. This paper will cover a brief background on the current accounting standards for intangible asset valuation and identification and why they are not sufficient for the current accounting environment. Within this review of the accounting standards, this paper will highlight how the changing financial world has given rise to these new intangible assets, and why current regulations do not allow firms to recognize all the assets that it truly should have on its books, thereby not allowing firms to realize or gain precious valuation. Furthermore, I will provide evidence as to why the accounting standards have made it difficult for investors to properly gauge the risk of intangible investments due to the inconsistencies in valuation that the current standards produce.
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Rowbottom, Nick. "Intangible asset accounting and accounting policy selection in the football industry." Thesis, University of Birmingham, 1999. http://etheses.bham.ac.uk//id/eprint/899/.
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The main aim of this thesis is to evaluate the feasibility of intangible asset accounting in financial reporting with particular reference to the football industry. It also examines related accounting policies. Lack of reliable measurement is the major obstacle to the recognition of intangible assets. The measurement of intangible assets is problematic due to a lack of verification through reference to an active market. However, drawing on Human Resource Accounting, the thesis argues that identifying and measuring human resource assets may be possible in the football industry. The human resource asset, the player registration, is subject to sufficient control through unique industry structures to justify recognition as an intangible asset. The existence of an active market for player registrations facilitates reliable measurement. In the football industry, a wide variety of accounting policies are employed in accounting for player registrations and other material transactions. Hypotheses regarding the reasons for selecting particular accounting policies are developed and tested. Findings suggest that institutional pressure which influences perceptions of legitimacy and credibility can affect the selection of accounting policies. The thesis also develops and tests a model to value player registrations as intangible assets where they are not subject to market transactions. The ability to reliably measure intangible assets is regarded as crucial to their recognition in financial reporting. In addition, it will lead to the acceptance of intangible asset policies as legitimate and credible, despite the market orientated bias of traditional financial reporting.
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Guilding, Christopher J. "Valuing and managing brands : an internal accounting perspective : an empirical investigation of attitudes to internal brand valuation and organisational and behavioural implications associated with the way that the internal brand management accounting system is operated." Thesis, University of Bradford, 1991. http://hdl.handle.net/10454/3842.
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This thesis is concerned with accounting for the brand management function. Two distinct perspectives are taken: the first derives from aspects of organisational and behavioural accounting research, and the second concerns organisational implications of brand valuation. Both perspectives were initially approached by means of exploratory interviews and a literature review. Hypotheses pertaining to the first perspective were analysed via survey data collected in nine strongly-branded, fast-moving consumer goods (FMCG) companies. Propositions concerned with the implications of brand valuation were developed and used as the basis for measuring attitudes to brand valuation. A questionnaire concerned with brand valuation attitudes was administered to senior-ranking officials in strongly-branded, FMCG companies. The final methodological phase, for both perspectives, involved a case study conducted in a strongly-branded, FMCG company. Significant findings arising from this study include: 1) Managers who see their company as being short-termist, hold more positive attitudes to brand valuation. 2) Marketing-orientated managers are more favourably disposed to brand valuation than accounting-orientated managers. 3) Organisational benefits arising from brand valuation are more strategically, than operationally, orientated. 4) Brand manager budget participation is significantly negatively-related to job-related tension, and positivelyrelated to trust in superior and attitude to reliance on accounting performance measures. 5) Budget participation is more effective in reducing jobrelated tension in situations of high, compared to low, task uncertainty situations. 6) Reliance on a brand manager's accounting performance is positively related to brand manager performance and motivation, and negatively associated with job-related tension.
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Dupree, Lee. "Valuation Strategies for Small Businesses' Intangible Assets." ScholarWorks, 2019. https://scholarworks.waldenu.edu/dissertations/7135.
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Small business owners who attempt to sell their businesses may not receive full value if they do not adequately value their intangible assets. The purpose of this multiple case study was to explore effective strategies business leaders used to value intangible assets when considering the sale of their businesses. The participants for this study were 5 business owners in a metropolitan area in the southeastern United States who had successful valuation experiences during the sale of their businesses. Data were collected through semistructured interviews with participants, methodological triangulation, observations, and review of company documents. Data were analyzed using thematic analysis, coding narrative segments, and reviewing secondary data. The themes that emerged from data analysis include collecting and using company data concerning intangible assets; hiring a reputable accounting firm to assist in valuation; understanding the values of brand, customer base, and goodwill; and choosing the appropriate asset valuation approach. To accurately value the intangible assets of their businesses, the most significant and recurring theme in the participants' responses was the need for assistance from a reputable accounting firm. The implications of this study for positive social change include the potential to enhance the economic investment in local areas where business owners appropriately value intangible assets.
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Babinec, Matúš. "Harmonization of Accounting Treatment of Property, Plant, Equipment and Intangible Assets." Master's thesis, Vysoká škola ekonomická v Praze, 2008. http://www.nusl.cz/ntk/nusl-4248.
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The globalization of world economy has inevitably affected also the movements in harmonization process of accounting standards around the world. International Financial Reporting Standards have become the ultimate accounting and reporting tool of most developed countries. The only remaining counterpart -- the US GAAP, is slowly subsiding to the enormous spread momentum that IFRS gained in recent years. In this setting I examine the application of International standards on accounting treatment of Property, Plant and Equipment, and also the Intangible Assets. Subsequently I compare this treatment to US GAAP and document all major differences still persistent at the end of year 2008. Considering that there are still many divergences between the two sets of standards, I try to document their impact on the reporting and presentation of financial statements of several blue chip companies. My analysis suggests that differences in reported numbers depending on standards chosen can distort comparability of financial statements and performance assessment, thus potentially biasing the decision making process of involved stakeholders.
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Wickerath, Susanne. "Definitions of an intangible asset : in context with HGB, IFRS and US-GAAP." Thesis, University of Skövde, School of Technology and Society, 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:his:diva-2257.
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This Bachelor thesis deals with the definition of Intangible Assets in the context of
financial reporting. The purpose is to integrate intangible assets into the balance
sheet. After a thorough analysis of the ongoing research shows that there is general
consensus concerning intellectual property, and general confusion concerning
knowledge, information and organization capital. Some have what it takes to enter
balance sheets, while others still lack a holistic concept that is generally accepted
and fulfils the demand of accounting. Neither of them is reported according to the
presently available and established knowledge. This thesis shows that a prerequisite
for an improved reporting is the consequential extension of accounting principles for
intangible assets. The fact that the term “intangible asset” became a gathering of all
possible intangible phenomena demands counter-actions. One of its reasons is the
demand for the measurement of relative performances of intangible assets. This
thesis shows that reporting absolute figures for intangible assets does not stand in
contrast with this, but can deliver the necessary data set for a holistic analysis that
also deals with intangible assets.
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BATTAGELLO, FRANCO MARIA. "Intangible Asset Analytics: rating Strategic Capital and gauging business performance an atomized perspective." Doctoral thesis, Università degli Studi di Roma "Tor Vergata", 2014. http://hdl.handle.net/2108/203511.
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Stenson, Joan. "The attributes of information as an asset." Thesis, Loughborough University, 2006. https://dspace.lboro.ac.uk/2134/7792.
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Attempts to identify information as an asset has led to an increased awareness of the role of information in enhancing organisational performance. Central to this role is the identification of attributes of information assets which include quality, utility, productivity, effectiveness and financial and economic aspects. Measurement of attributes of information as an asset may provide an identifiable link between information management and improved business performance. Identifying attributes of information assets that are recognised and valued by senior managers in today's information-intensive UK organisations is a key step in developing evidence for a link between information management and organisational performance. The research study engaged with a range of stakeholders in the information as an asset domain, including: senior British information managers, senior executives and managers and internationally-active information professionals and academics. Open-ended guided interviews were conducted with stakeholders. Four case studies in information-intensive UK organisations formed the major data collection strategy. Findings highlighted the importance of customer information assets. The most important attribute identified was quality. Information assets and their attributes were linked to competitive advantage with customer involvement and management attention being the key issues identified. A grounded theory of information assets that takes competitive advantage as its core category, is proposed.
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Harrington, Jason. "The Impact of IFRS Adoption on Intangible Asset Accounting Treatment and Marketplace Decision-Making." Scholarship @ Claremont, 2016. http://scholarship.claremont.edu/cmc_theses/1463.
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While the international accounting community has widely adopted International Financial Reporting Standards (IFRS), the United States has remained independent, using United States Generally Accepted Accounting Principles (US GAAP). While the standards are similar in many ways, there are some crucial differences between the two. I analyze the differences between IFRS and GAAP accounting treatment in regards to intangible assets. I present theoretical scenarios and leverage previous studies in order to conclude the overall effect mandatory IFRS adoption would have on both investor and managerial decision-making. I conclude that IFRS adoption would have both positive and negative effects on the accuracy of financial reporting and decision-making. The main negative consequence identified is the ability for management of earnings by corporations. However, I concluded that educated investors should not be affected, as both US GAAP and IFRS require sufficient financial statement presentation and disclosures.
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Carnaghan, Carla Ann. "Factors influencing managerial decisions about intangible asset disclosures, the role of accountability theory and impression management." Thesis, National Library of Canada = Bibliothèque nationale du Canada, 1999. http://www.collectionscanada.ca/obj/s4/f2/dsk1/tape7/PQDD_0035/NQ46814.pdf.
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Reddiar, Chantel Amanda. "Building corporate reputation : a director’s perspective." Diss., University of Pretoria, 2010. http://hdl.handle.net/2263/25673.
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Corporate reputation has evolved into a strategic and intangible corporate asset and accordingly directors, as custodians of corporate reputation, are tasked with building and managing corporate reputation as a source of competitive advantage. The purpose of this research is to ascertain the extent of the operationalisation of corporate reputation and the perspectives of directors as to the manner in which they perceive, value, build and manage corporate reputation. A critical review of the corporate reputation literature evidenced much ambiguity as to the definition of corporate reputation, whilst the value and competitive advantage of corporate reputation, has been empirically established. The literature within this realm fails to adequately address the operalisation of this construct and accordingly, this study attempts to address the apparent void in the academic literature by offering empirical evidence as to the manner in which directors build and manage a company’s reputation by proposing a framework to guide directors in their endeavours. In order to gauge director’s perspectives, 12 semi-structured, in-depth interviews were conducted with the directors of a multi-national company based in South Africa. The company operates in a highly regulated and competitive industry and the research findings demonstrate that corporate reputation is indeed acknowledged as a key, intangible asset. Whilst the directors did not possess clear insight into building and managing corporate reputation, several key themes emerged and the findings are consolidated into a proposed framework and a portfolio of the dimensions of corporate reputation are established. This study lays the foundation for further studies within the realm of operationalising corporate reputation, particularly as a source of competitive advantage. CopyrightDissertation (MBA)--University of Pretoria, 2010.
Gordon Institute of Business Science (GIBS)
unrestricted
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Pontet, Ubal Norma, Ávila César Omar López, and Suárez Lourdes Yvonne Volpi. "El tratamiento contable de los intangibles: estudio exploratorio en el sector de tecnologías de la información." Pontificia Universidad Católica del Perú, 2014. http://repositorio.pucp.edu.pe/index/handle/123456789/114755.
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In the new economy, intangible assets have become the main creators of value to many firms. However, the valuation of these assets in the accounting framework raises several issues with respect to identification, measurement and control. In this paper the valuation, measurement and recognition of intangible assets and their impact on the financial statements are presented, analyzing the asymmetry in the allocation of resources in the equity market, the growth of investments in intangible assets and the market value of the digital economy. In a group of uruguayan companies arriving at a set of initial findings for the cases. We understand the need to review and amend the rules for the treatment of intangibles, seeking to integrate more sophisticated in IT. We also understand that the rules should provide more detailed guidance on disclosure for intangible and costs-benefits for companies (from the perspective of the capital market and investors).En la nueva economía, los activos intangibles se han convertido en los principales creadores de valor para un gran número de empresas. Sin embargo, la valoración de estos activos en el marco contable plantea varios problemas con respecto a su identificación, medición y control. En el presente trabajo, se exponen los criterios de valuación de activos intangibles y sus consecuencias en los estados financieros, para lo cual se ha analizado la asimetría en la asignación de recursos en el mercado de capitales, el crecimiento de las inversiones en intangibles y el valor de mercado de las empresas en la economía digital. Se explora en un grupo de empresas uruguayas las cuestiones discutidas, a partir de lo cual se arriba a un conjunto de conclusiones iniciales para los casos de estudio. Entendemos que es necesario revisar y modificar las normas para el tratamiento de intangibles, de modo que se integre aspectos más sofisticados en cuanto a TI. Asimismo, entendemos que las normas deben proporcionar una orientación más detallada sobre revelación de información para intangibles y de su relación costo-beneficio para las empresas (desde la perspectiva del mercado de capitales y de los inversores).
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COSTA, ROBERTA. "Misurazione degli intangibili e performance aziendale." Doctoral thesis, Università degli Studi di Roma "Tor Vergata", 2005. http://hdl.handle.net/2108/190.
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Nell’economia mondiale sono avvenuti cambiamenti radicali che hanno mutato le fonti del vantaggio competitivo. La nuova fonte essenziale della creazione del valore è definito dallo sviluppo e dall’utilizzazione strategica degli asset intangibili. A tal proposito, il Knowledge Management è il processo attraverso il quale le imprese creano e valorizzano i propri intangible asset. Alla sua base c’è il recupero, l’organizzazione e la sistematizzazione di tutto ciò che viene indicato genericamente come conoscenza. Nel KM rivestono particolare importanza i metodi per la misurazione degli asset intangibili impossibile con i tradizionali metodi di valutazione degli assets tangibili, come testimonia la crescente discrepanza tra il valore di mercato ed il valore contabile delle imprese.
In questo nuovo contesto economico, il concetto di produttività e di performance aziendale dipende in misura sempre maggiore dal rendimento del patrimonio di conoscenza dell’impresa e dalla corretta gestione dei sui intangibili. Nella tesi si propone una metodologia che consenta la valutazione dell’impatto della gestione degli intangibili e degli investimenti in knowledge management sulla performance aziendale e sulla produttività (si può parlare in questi termini di produttività della conoscenza), attraverso l’approfondimento delle best practices riguardanti quelle imprese che hanno già sperimentato con successo strategie di gestione degli intangibili ed il loro confronto con le diverse realtà aziendali. La tecnica selezionata per valutare la produttività degli intangibili e la loro efficienza è la Data Envelopment Analysis (DEA): tecnica basata sulla programmazione lineare che consente di determinare l’efficienza di unità operative omogenee, in questo caso di imprese. La scelta di input ed output opportunamente correlati agli intangibili consentirà di determinare l’efficienza relativa di un’impresa (rispetto alle altre ed alle Best Practises) nella capacità di gestire i propri asset intangibili ed il proprio patrimonio di conoscenza. Attraverso l’analisi DEA si ottiene, per ogni unità-impresa, un valore di efficienza relativa che permette di effettuare un ranking delle unità analizzate, distinguendo quelle efficienti da quelle inefficienti.In the last decades, the sources of competitive advantage have been changing radically in the worldwide economy. The essential source of value creation is actually defined by the development and the strategic use of the firm’s intangible assets. Knowledge Management is the discipline that studies the process of creation and valorisation of enterprises’ intangibles and his fundaments are the recovery, the organization and the rationalization of all that is generally know as knowledge. One of the most important tools of Knowledge Management are the intangible assets measurement methods, that are becoming necessary in order to integrate the traditional methods of accounting, as it testifies the increasing discrepancy between market value and accounting value of enterprises. In the modern economic context, the concept of productivity and business performance depends in greater measure on the efficient management of Intellectual Capital. So the measurement and evaluation of the impacts and value of investments in intellectual capital is a critical obstacle to turning those investments into sources of competitive advantage. Yet, most organisations have only a dim notion of what they spend on intellectual capital let alone what they receive from those investments. As a result, many firms either under-invest or make ineffective investments in intellectual capital. The thesis proposes a methodology to evaluate the impact of intangible assets management and knowledge investments on business performance and productivity (in the terms of knowledge productivity), through the examination of the Bests Practices of those enterprises that have already successfully implemented strategies of intangible assets management. The analysis method selected to such purpose is the Data Envelopment Analysis (DEA): a technique based on linear programming that allows to determine the efficiency of homogeneous operational unity (enterprises). Analysing a set of firms by means of the DEA was obtained a value of relative efficiency and, consequently, a ranking distinguishing efficient and inefficient ones.
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Harantová, Monika. "Značka jako nehmotné aktivum firmy." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-76289.
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In the theoretical part of thesis: "Trademark as an intangible asset of a company", the theoretical aspects of brand management and methods of valuation of brands as intangible assets are explained. In the practical part of thesis a company analysis is undertaken and brand value is calculated by using adequate methods. Final suggestion and recommendation for trademark registration in the Register of Trade Marks are mentioned in the conclusion of thesis.
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Shim, Young Soo. "INVESTIGATING THE DETERMINANTS AND ENDOGENOUS INFLUENCES OF ENVIRONMENTAL REPUTATION." OpenSIUC, 2017. https://opensiuc.lib.siu.edu/dissertations/1459.
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AN ABSTRACT OF THE DISSERTATION OF Young Soo Shim, for the Doctor of Philosophy degree in Accountancy, presented on 03/10/2017, at Southern Illinois University Carbondale. TITLE: INVESTIGATING THE DETERMINANTS AND ENDOGENOUS INFLUENES OF ENVIRONMENTAL REPUTATION MAJOR PROFESSOR: Dr. Royce D. Burnett This study investigates (1) the determinants of a firm’s environmental reputation and (2) the impact of this reputation on employee productivity and financial performance. I extend existing work in this area by focusing on both the endogenous and exogenous benefits of the reputation. The endogenous benefits refer to positive impacts of the reputation on employee morale and employee productivity, which have generally been ignored by prior research. In developing my research hypotheses, I draw on the following five well-established theories: the costly signaling theory, the resource-based view of firm, the Porter’s eco-efficiency perspective, the social identity theory, and the third-person effect theory. A sample of 271 companies was drawn from the 500 largest U.S. public companies listed in the 2010 Newsweek’s green report. The corporate environmental data for this study were gathered from this report. Meanwhile, the corporate financial data were obtained from the Mergent database. Via multiple regression analyses, I find (1) environmental reputation is significantly and positively predicted by environmental management when firm environmental reputation is high; (2) environmental reputation is significantly and positively related to environmental performance when firm environmental reputation is low; (3) across the board, environmental reputation does not predict employee productivity; (4) environmental reputation is a significant and positive predictor of financial performance only for firms with high environmental reputation; and (5) employee productivity positively and significantly predicts financial performance only for firms with a high environmental reputation.
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Martins, Vinicius Aversari. "Contribuição à avaliação do goodwill: depósitos estáveis, um ativo intangível." Universidade de São Paulo, 2002. http://www.teses.usp.br/teses/disponiveis/12/12136/tde-08032004-170157/.
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O presente trabalho tem como objetivo principal demonstrar que parcela da base de depositantes de instituições financeiras que se utilizam de depósitos (a prazo e a vista) como fonte de financiamento das suas atividades, identificada pelos depósitos estáveis, representa um ativo intangível da instituição depositária. Esse ativo intangível decorrente dos depósitos estáveis, quando passível de identificação específica, explica parte do goodwill da instituição depositária, pelo fato do goodwill ser um ativo residual dependente principalmente da avaliação da empresa como um todo. Sendo o valor do goodwill determinado pela diferença entre o fair value da entidade como um todo, como um ativo único em continuidade, e a soma algébrica dos fair values dos ativos líquidos identificáveis dessa entidade, à medida que novos ativos antes não contabilizados são identificados, está-se explicado a natureza do goodwill, assim como está-se auxiliando na sua atribuição de valor. Portanto a identificação de mais um ativo intangível das instituições financeiras implica na identificação de parcelas componentes do goodwill, que englobava esse ativo intangível antes da identificação do ativo intangível, assim como também implica na explicação econômica de parte do goodwill. Para que o objetivo pudesse ser alcançado, comparou-se as características econômicas e contábeis dos ativos, dos ativos intangíveis e do goodwill com as características econômicas e contábeis dos depósitos estáveis, chegando-se à conclusão de que tais depósitos representam um ativo intangível, identificável em separado e passível de registro contábil. O registro contábil desse ativo intangível nas demonstrações contábeis utilizadas para fins de publicação é atualmente possível somente quando a instituição depositária tiver sido objeto de compra por outra entidade. Caso isso não tenha ocorrido, alternativamente pode-se fazer uso do ativo intangível para fins de controle gerencial. O trabalho também apresenta um caso real de avaliação dos depósitos estáveis como forma de corroborar a possibilidade de identificação e avaliação do ativo intangível decorrente desses depósitos.The main objective of the present work is to demonstrate that a part of the depository base of financial institutions that make use of (time and demand) deposits as a source of funding for their activities, which is identified by stable deposits, represents an intangible asset of the depositary institution. When its specific identification is possible, this intangible asset, which results from the stable deposits, explains a part of the goodwill of the depositary institution, considering that goodwill is a residual asset that mainly depends on the valuation of the company as a whole. As the value of goodwill is determined by the difference between the fair value of the entity as a whole, that is, as a unique asset in a going concern, and the algebraic sum of the fair values of the entitys identifiable net assets, to the extent that new assets are identified, which were not recorded before, the nature of goodwill is explained and its value attribution is enhanced. Hence, the identification of another intangible asset in the financial institutions implies the identification of new parts of the goodwill, which incorporated this intangible asset before the identification of the intangible asset, as well as the explanation of the economic nature of goodwill. To achieve this goal, the economic and accounting characteristics of assets, intangible assets and goodwill were compared to the economic and accounting characteristics of the stable deposits, which led to the conclusion that those deposits represent an intangible asset, which can be identified separately and can be registered in the accounting records. The accounting record of this intangible asset in the financial statements, which are used for publication, is only possible nowadays when the depositary institution has been the target of a purchase by another entity. In case this has not happened, the intangible asset can alternatively be used for management control. The present work also presents a real case of stable deposit valuation, so as to corroborate the possibility of identification and valuation of intangibles resulting from the stable deposits.
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Fredriksson, Lars, and Niklas Jonsson. "Värdering av tillgångar : En branschpraxis för klädbranschen och byggbranschen." Thesis, Södertörn University College, School of Business Studies, 2008. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-1547.
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The valuation of an asset is one of the most important thing with accounting, though one of the most difficult thing as well. However, in deciding useful service life for an intangible asset and property, plant and equipment, there are quite a margin for the companies, which creates a difference between companies and industries. When computing the value of the inventories there are a few possibilities available for the companies, which also can generate differences
between companies and industries. Although these differences can occur, there might be some similarities in the companies’ estimates. Hence, the purpose of this essay is to establish whether there are any differences in how companies are assessing their useful service life of intangible assets, property, plant and equipment and deciding the value of inventories. To be able to accomplish the purpose, company’s annual reports were used along with other necessary sources, for instance books about accounting principles and theories. The study, furthermore, concluded that there are small differences between companies within the same industry and industries altogether, in their judgment on useful service life and the value of the inventories.
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Assous, Lionel. "La définition des incorporels en droit fiscal." Thesis, Paris 2, 2012. http://www.theses.fr/2012PA020041.
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Définir une immobilisation en droit fiscal implique de se référer à des critères permettant préalablement d’identifier l'existence d'un actif mobilisable et d'en mesurer le coût d'inscription à l’actif. La difficulté réside dans le fait que le Code général des impôts contient une seule disposition, l'article 38 quinquies de l’Annexe III qui prévoit que : « les immobilisations sont inscrites au bilan pour leur valeur d'origine.... ». Si le code traite de la mesurabilité il reste muet sur l'identification. En l’absence d’une définition purement fiscale, il convient de se retourner vers le droit comptable. En effet, il ressort de l’article 38 quater de l’Annexe III du Code général des impôts que "les entreprises doivent respecter les définitions édictées par le Plan comptable général, sous réserve que celles-ci ne soient pas incompatibles avec les règles applicables pour la détermination de l'assiette de l'impôt". A cet égard, le plan comptable général définit un actif comme « un élément identifiable du patrimoine ayant une valeur économique positive pour l’entité, c'est-à-dire un élément générant une ressource que l’entité contrôle du fait d’événements passés et dont elle attend des avantages économiques futurs ». Cette définition est la conséquence d’une réforme profonde de notre comptabilité. En effet, la comptabilité a connu un bouleversement, depuis le 1er janvier 2005, toutes les entreprises cotées de l’Union européenne devant présenter leurs comptes consolidés selon des normes comptables internationales. Par ailleurs et toujours sous l’influence des normes comptables internationales, la comptabilité interne a désormais tendance à privilégier une approche économique au détriment d’une conception traditionnellement patrimoniale. La définition des immobilisations incorporelles confirme parfaitement cette évolution et pour certains reflète même, à terme, la disparition d’un droit comptable et fiscal spécifiquement françaisFor a definition of a fixed asset in Taxation Law we must be guided by those criteria that in the first instance enable the identification of an underlying asset and the calculation of the acquisition cost for that asset. The difficulty resides in the fact that the General Taxation Code contains only one provision, article 38 quinquies (fifth section) of Appendix III which stipulates that: “Fixed assets shall be recorded on the balance sheet at their original value”. Although the Code deals with measurability it falls silent on identification. In the absence of a purely fiscal definition, we need to turn to accountancy law. In this regard, it emerges from article 38 quater (fourth section) of Appendix III of the General Taxation Code that "businesses shall comply with the definitions set out by the General Accountancy Plan subject to these not being incompatible with the applicable regulations for the calculation of tax brackets". In this regard, the General Accountancy Plan defines an asset as “an identifiable component of property having a positive value for the entity, i.e. a component generating a resource that the entity controls owing to previous events and from which it anticipates future financial advantage”. This definition is the result of a profound reform of our accountancy practices. In fact, accountancy has been in a state of upheaval since 1st January 2005, when all listed companies within the European Union were required to publish their consolidated accounts in accordance with international accountancy regulations. What is more, and also under the influence of international accountancy regulations, internal accountancy now tends to favour a financial approach to the detriment of a traditionally asset-based approach. The definition of intangible fixed assets fully confirms this trend and for some it heralds the ultimate disappearance of any specifically French accounting and taxation law
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Llerena, Gallardo Tania Katherine, and Tenorio Gisell Roca. "Análisis del impacto financiero y tributario de los desembolsos por contenido propio y derechos de transmisión bajo NIC38 de los activos intangibles en los canales de televisión de banda VHF en el Perú, 2017." Bachelor's thesis, Universidad Peruana de Ciencias Aplicadas (UPC), 2019. http://hdl.handle.net/10757/626390.
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La presente investigación tiene como finalidad evaluar el impacto financiero y tributario de los desembolsos por contenido propio y derechos de transmisión en base a la NIC 38 “Activos Intangibles”. Los canales de televisión son la principal fuente de información, según CONCORTV en el 2017 los ciudadanos indican que uno de los medios de comunicación que tiene mayor presencia a nivel local y regional es la televisión, aunque existe una cierta insatisfacción por parte del ciudadano con respecto a la programación, ya que no es cultural ni educativa. Nos interesa investigar sobre los desembolsos por contenido propio y derechos de transmisión desde la perspectiva de los activos intangibles a nivel contable, al ser un caso particular en un sector poco investigado. La metodología utilizada es el diseño no experimental, el alcance es investigación exploratoria, ya que es un plan de investigación contable aplicado en Perú, el tamaño de la muestra son los canales de televisión que tienen una mayor participación de mercado, el cual concentra el 84 % en el sector de telecomunicaciones. La presente tesis se desarrollará en cinco capítulos. En el primer capítulo, se describirá investigaciones locales e internacionales. En el segundo capítulo, se plantean los problemas, las hipótesis a validar y los objetivos propuestos. En el tercer capítulo, se procederá a describir la metodología a utilizar es enfoque mixto. En el cuarto capítulo, se presentan los resultados del análisis cualitativo y cuantitativo y se plasma en un caso práctico con el que se pretende identificar la capitalización los desembolsos por contenido propio y derechos de transmisión, identificar la variable independiente las cuales puedan generar expectativa de cuan material representa dentro de los estados financieros. En el quinto capítulo se analizan conclusiones y recomendaciones.The purpose of this research is to evaluate the financial and tax impact of disbursements for own content and transmission rights based on IAS 38 "Intangible Assets". Television channels are the main source of information, according to CONCORTV in 2017, citizens indicate that one of the media that has a greater presence at the local and regional level is television, although there is a certain dissatisfaction on the part of the citizen with respect to programming, since it is not cultural or educational. We are interested in investigating the own contents and transmission rights from the perspective of the intangible at the accounting level to be a particular case in a sector little investigated. The methodology used is the non-experimental design, the scope is exploratory research, since it is an accounting research plan applied in Peru, and the size of the sample is the television channels that have a greater market share, which concentrates 84 % in the telecommunications sector. This thesis will be developed in five chapters. In the first chapter, local and international investigations will be described. In the second chapter, the problems are posed, the hypotheses to be validated and the proposed objectives. In the third chapter, we will proceed to describe the methodology to be used is a mixed approach. In the fourth chapter, the results of the qualitative and quantitative analysis are presented and it is embodied in a practical case with which it is intended to identify capitalization disbursements by own content and transmission rights, identify the independent variables which can generate expectation of materials represent in the financial statements. In the fifth chapter conclusions and recommendations are analyzed.
Tesis
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Berglind, Lukas, and Erik Westergren. "The Risk-Return Relationship : Can the Prospect Theory be Applied to Small Firms, Large Firms and Industries Characterized by Different Asset Tangibility?" Thesis, Umeå universitet, Företagsekonomi, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:umu:diva-122846.
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In 1979 Daniel Kahneman and Amos Tversky created the prospect theory. It became an accepted and appropriate theory in explaining decision making under risk. The prospect theory has been one of the most cited articles in economics and Kahneman received the Nobel Prize in Economic Sciences as a result of the creation and development of the theory. Therefore the prospect theory is considered to be more suitable compared to the previously accepted theory, the expected utility theory. Following the prospect theory, researchers have utilized it to describe individual but also corporate management decision making when faced with risk. In this thesis the authors will focus on the latter. Despite the prospect theory being a well-accepted theory, there have been several critics due to its limitations and Audia and Greve (2006) are one of these critics. Their study suggested that corporations under threat, i.e. small firms with low returns, act risk averse. The findings of Audia and Greve (2006) violate the prospect theory when considering small firms that have below target returns. They tested the theory on an industry that has the characteristics of having relatively high proportions of tangible assets. Audia and Greve (2006) also proposed that a similar conclusion could be drawn if tested on an industry characterized by having a high level of intangible assets. This thesis examines the applicability of the prospect theory in the Swedish automotive industry and staffing and recruitment industry. The characteristics of the two industries are that the automotive industry has a high proportion of tangible assets and the staffing and recruitment industry has a high level of intangibles. The authors test if the prospect theory can be used to describe the decision making of both industries but also test the theory on small and large firms. Following the results of this paper we show that the prospect theory can be applied to the Swedish automotive industry and staffing and recruitment industry, characterized by having high levels of tangible assets and intangible assets respectively. The theory can also be used to explain decision making under risk for small firms within both industries and large firms within the automotive industry. Even though the prospect theory was originally tested on individuals, the conclusion can be drawn that the prospect theory once again prevails as an explanation of the decision making in the management of corporations. It can describe the decision making of firms in the two industries having characteristics of different asset tangibility and for firms of different size.
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Shahwan, Yousef Said. "The Australian market perception of goodwill and identifiable intangibles." Thesis, View thesis, 2002. http://handle.uws.edu.au:8081/1959.7/782.
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Accounting for goodwill and identifiable intangibles is one of the most controversial issues in financial reporting. It has been on the agenda of the Australian Accounting Standards Board, the US, UK, and the International Accounting Standards Boards, and the Full High Court of Australia. The Australian Securities and Investments Commission has also placed accounting for intangibles in its Media Releases directed at specific companies. Evidence suggests that the materiality of goodwill and identifiable intangible assets in corporate statements of financial position for a large number of companies is the reason for the considerable attention given to goodwill and identifiable intangibles. The present study has two objectives. First, it analyses the Australian market perception of goodwill and identifiable intangibles as assets in the determination of the market valuation of companies. Second, it investigates whether the market perceives goodwill and identifiable intangibles as wasting resources when valuing Australian firms. In order to achieve these objectives, the analysis initially develops and estimates a model (the asset-based model) that uses financial position statement items to explain the market value of companies' equity. This model examines the association between reported goodwill and identifiable intangible asset values and companies' market values. Given Ohlson's (1993) argument that companies' market value might be better explained by a model that includes a stock concept of value and a flow concept of earnings, a second model (the asset and income-based model) that incorporates an income variable into the initial model, is then developed and estimated. This model examines the association between the goodwill and identifiable intangible amortisation expense and companies' market values. Evidence suggests that there is a statistically significant negative association between equity market values and write-offs of goodwill, confirming the market perception of write-offs of goodwill as a wasting resource when valuing companies. Evidence also suggests that there is a statistically significant negative association between equity market values and write-offs of identifiable intangibles, at least for the total sample of the present study, providing limited evidence of the market perception of identifiable intangibles as wasting resources when valuing companies. However, the negative and inconsistently significant association between equity market values and write-offs of identifiable intangibles on an annual basis suggests that the relationship may be more complex than traditionally analysed
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Costa, Herika Crhistina Maciel de Oliveira. "Estudo comparativo dos modelos de avaliação de inovação para obtenção de capital de risco: programa governamental Criatec I - BNDES versus modelos teóricos para cálculo de intangíveis propostos na Contabilidade." Universidade do Estado do Rio de Janeiro, 2015. http://www.bdtd.uerj.br/tde_busca/arquivo.php?codArquivo=8973.
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Coordenação de Aperfeiçoamento de Pessoal de Nível SuperiorComo forma de impulsionar o crescimento econômico, governos de diversos países incentivam o empreendedorismo, a inovação e o desenvolvimento tecnológico. Para isto, se utilizam de programas governamentais por meio de políticas de incentivo ou subvenção econômica a empreendimentos com este perfil. No Brasil, o capital de risco público vem sendo oferecido à empresas inovadoras através dos fundos da série Criatec, com recursos do BNDES. Estas empresas possuem, principalmente, ativos intangíveis, que devem ser considerados pelos investidores em suas avaliações que antecedem o aporte de recursos. Neste contexto, esta pesquisa foi desenvolvida com o objetivo de analisar como a metodologia de avaliação de intangíveis utilizada pelo Fundo Criatec I do BNDES, como ferramenta de apoio de decisão de investimento de capital de risco público, considera os indicadores de inovação frente aos modelos teóricos propostos na literatura contábil. Para isto foi realizado estudo de campo através de entrevistas realizadas com os gestores do Fundo e com diversas empresas investidas por este. Por meio da pesquisa foi observado que é realizada profunda análise das empresas candidatas ao aporte de recursos através da avaliação de três fatores de risco. Foi possível verificar indicadores de inovação presentes nas metodologias de avaliação de intangíveis propostas na literatura contábil na análise de um destes fatores. Contudo foi possível identificar que os indicadores de inovação não são avaliados de forma pré definida e parametrizada no modelo utilizado pelo Fundo.
As a way to expand economic growth, governments of many countries encourage entrepreneurship, innovation and technological development through a series of funding and incentive policies, direct at companies with this specific profile. In Brazil, public venture capital is been ofered to innovative companies through the Criatec funds, criated by BNDES. These companies retain mostly intangible assets, wich should be considered by investors, prior to allocating funds. This research was conducted with the objective to compare the methodology for evaluating intangible assets as well as indicators of innovation used by Criatec/BNDES annalists opposed to the theoretical models proposed by accounting literature. To achieve this objective, a field study was conducted trough interviews of Criatec I fund and the CEOs of many companies that were invested upon by the fund. This research conclude through analysis is conducted on companies that apply for Criatec investments, and mainly 3 risk factors are considered by Criatec I. innovation. Indicators of innovation were actualy considered in this analysis, as well as a methodology to evaluate intangible assets. However the use of both these indicators is yet to be standardized.
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Fullana, Blanca. "Brand patrimony: on the hypertext of the brand asset and its corporate culture and identity principles accountability: a new context-paradigm perspective about one of today's most valuable organizational assets, the managing responsability it conveys and a recommended guide for relevant corporate communications functions and activity." Doctoral thesis, Universitat Pompeu Fabra, 2016. http://hdl.handle.net/10803/401586.
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The present investigation is an approach to brand value from a top-management perspective, asserting that a brand is not merely a commercial value portrayed by a product placed in a market; even less so, a public relations rhetoric avowing a political correctness, but rather a full-length ascribed patrimonial asset that conveys an organization’s cultural response to the societal issues within its activity-bound. In such, considering the brand as an intangible in-management attribute that is portrayed across the entire chain of productivity whilst influencing current and future innovation processes, in return.
Operating under a new context paradigm, the brand becomes patrimony (overall value), beyond –and not excluding- (financial) equity. In all, a hypertext practical vision on the attributions of the brand to signify knowledge-based corporate culture responsibility, amidst identity acknowledgement, multi-stakeholders engagement and reputation’s risk management and anticipation.
Focus of this research, sets forth to upgrade the brand as a significant element of business management, and not just of marketing, and shares guided contribution to the key tasks and tools currently at stake in the development of well-grounded corporate communications.La present investigació és un acostament al valor de la marca des de la perspectiva de la direcció general, afirmant que una marca no és un simple valor comercial; el d’un producte adreçat a un mercat -menys encara, una retòrica pública de correcció política- sinó més aviat un actiu patrimonial transversal que dona resposta, a través d’una identitat pròpia i d’una cultura d'organització -i per tant dins del seu àmbit d’actuació-, als debats i reptes de la societat local, però també global. En aquest sentit, considerant la marca com un intangible en la gestió, que es troba al llarg de tota la cadena de valor i productivitat i que té influència sobre els processos d'innovació actuals i de futur, que alhora en redundaran. Operant sota un nou paradigma de context, la marca es converteix en patrimoni (valor total), més enllà -i sense excloure- el brand equity1 (valor financer); ampliant les atribucions de la marca per significar-la sota una responsabilitat cultural corporativa (RCC)2 basada en el coneixement, en el reconeixement de la pròpia identitat corporativa, i involucrant i fent partícips a múltiples agents externs que permeten anticipar-se i gestionar els riscos que actuen sobre la reputació. L’aportació principal, fruit de la investigació, i basat en l’experiència empírica, situa a la marca com un element clau de la gestió empresarial, i no només del màrqueting, alhora que contribueix a donar pautes sobre les funcions practiques essencials que cal assolir des de la disciplina de la comunicació corporativa.
La presente investigación es una aproximación al valor de la marca desde la perspectiva de la dirección general, afirmando que una marca no es un simple valor comercial: el de un producto dirigido a un mercado; menos aún, el de una retórica pública, sino más bien, un activo patrimonial transversal que da respuesta, a través de una identidad propia y una cultura de organización (y por lo tanto dentro de un ámbito concreto de actuación), a los debates y retos pertinentes de la sociedad local, pero también global. En este sentido, considerando a la marca como un activo intangible en la gestión, que se encuentra a lo largo de toda la cadena de productividad y que tiene influencia sobre los procesos de innovación actuales y de futuro, que a su vez le redundarán. Operando bajo un nuevo paradigma de contexto, la marca se convierte en patrimonio (valor total), más allá -y sin exclusión del brand equity3 (valor financiero), ampliando las atribuciones de la marca para significarse bajo una responsabilidad cultural corporativa (RCC)4 basada en el conocimiento, en el reconocimiento de la propia identidad corporativa e involucrando y haciendo participes a múltiples agentes externos que permiten anticiparse y gestionar los riesgos que actúan sobre la reputación. La aportación principal, fruto de la investigación y basado en la experiencia empírica, sitúa a la marca como un elemento clave de la gestión empresarial, y no sólo del marketing, al tiempo que contribuye a dar pautas sobre las funciones prácticas esenciales que cabe desarrollar desde la disciplina de la comunicación corporativa.
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Coelho, Daniele Maia Teixeira. "A dicotomia natureza e cultura no âmbito das políticas públicas de proteção do patrimônio cultural imaterial brasileiro." Universidade de São Paulo, 2017. http://www.teses.usp.br/teses/disponiveis/106/106132/tde-08012018-105617/.
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Esta tese objetiva analisar em que medida a dicotomia entre natureza e cultura, fruto da cientificidade da Modernidade, apresenta-se nas políticas públicas patrimoniais culturais de proteção, especialmente, de bens imateriais como os saberes, celebrações, formas de expressão e lugares. Ainda no século presente, mantemos entendimento de que há coisas da natureza e coisas da sociedade, e mal conseguimos articular ambas num só entendimento. Isso se traduz, nesta tese, na experiência que analisamos com órgãos da Administração Pública que tratam da natureza e da cultura, definem legislação específica sobre cada tema e atuam na expectativa da proteção integral. Particularmente, analisamos as ações do Instituto do Patrimônio Histórico e Artístico Nacional (IPHAN) quanto à proteção de bens culturais imateriais. Nossa hipótese é a de que, ainda que esse órgão venha paulatinamente ampliando seu horizonte no trato da questão, ainda continua a formular diretrizes que reafirmam a separação entre natureza e cultura, material e imaterial, real e simbólico. Para atingirmos o objetivo proposto, utilizamos como metodologias a pesquisa bibliográfica na literatura especializada, a adoção de fontes documentais oficiais (em especial, dossiês de registro), a realização de entrevistas e a análise das imagens de alguns bens culturais imateriais. Neste contexto, algumas ponderações são propostas e dizem respeito à tentativa de agregar os elementos existentes nas práticas culturais, para que se avance em direção à superação da dicotomia natureza e cultura e se chegue a uma forma mais integradora de ver a questão. Uma dessas ponderações diz respeito ao momento de registro do bem imaterial, quando já seria possível invocar a presença de outros órgãos envolvidos, como o Ministério do Meio Ambiente (MMA), por exemplo, cuja atribuição é diretamente ligada ao campo do patrimônio cultural. Tal medida poderia construir políticas públicas mais holísticas, tomadas em conjunto, que levem em consideração os elementos naturais e culturais presentes no bem cultural imaterial. Além disso, consideramos a importância de ampliar a competência legal do IPHAN, possibilitando que trilhe um caminho que respeite e proteja de forma mais efetiva o simbólico e o real contidos na manifestação cultural.Our thesis aims to examine to what extent the dichotomy between nature and culture (which is a product of the modernitys scientificity) is reflected in the cultural policies of patrimonial protection, especially of intangible goods, such as knowledge, celebrations, forms of expression and places. In the 21th century, the understanding that there are things that belong to nature and others that belong to society is maintained and we can barely articulate both in only one understanding. We confirmed the existence of such understanding in our analysis of the public administration bodies experience in dealing with nature and culture, defining specific legislation on each subject and acting with the expectation of a whole protection. In particular, we have analyzed the National Historical and Artistic Heritage Institute IPHANs actions regarding the protection of intangible cultural assets. Our hypothesis is that, although the IPHAN has been gradually broadening its horizon in the treatment of the issue, it still continues to formulate guidelines that reaffirm the separation between nature and culture, material and immaterial, real and symbolic. In order to reach our goal, the used methodologies include bibliographic research in specialized literature, official documentary sources (in particular, registration dossiers), the conduction of interviews and the analyzes of some intangible cultural assets images. In this context, some considerations are proposed and concern the attempt to aggregate the existing elements in cultural practices, in order to overcome the dichotomy between nature and culture for achieving a more integrative way to face this issue. One of these considerations concerns the moment of the intangible asset registration and when it would be possible to request the involvement of other bodies, such as the Ministry of Environment, whose attribution is directly linked to the cultural heritage issue. Such a measure would allow the building of more holistic public policies, to be taken as a whole and that take into account the natural and cultural elements of the intangible cultural good. In addition, we consider the importance of extending IPHAN\'s legal competence, by allowing it to tread a path that respects and protects more effectively the symbolic and the real contained in cultural manifestation.
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Adriano, Eunice. "Modelo gerencial de mensuração do portfólio de patentes de um centro de pesquisa e desenvolvimento em telecomunicações." Universidade Presbiteriana Mackenzie, 2014. http://tede.mackenzie.br/jspui/handle/tede/943.
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Previous issue date: 2014-01-22The goal of this work is to propose a model for management measurement for the patent portfolio owned by a center for research and development in telecommunications. It features the concept of intellectual property, as it considers that seeing knowledge as a strategic tool for the organizations and the use they make of it in society show how important the information sector is for the economy of all countries. By presenting the question of patents and their value, it shows that building value and generating wealth is the ultimate foundation of Economic Science. As it proposes a model for analyzing the portfolio of patents, it rests on the assumption according to which a rational exploration of its protected patents will allow for a fair compensation for the efforts exerted and to recoup the investments incurred during the research. The work required for determining the valuation of a patent involves procedures similar to those deployed for analyzing any other types of ownership, that is, it is necessary to check if there are co-owners, the useful life of the patent, the cost of maintaining it, the objective of the patent holder as regards exploiting it, and which economic benefits are expected concerning the amount of return, time span covered and the risk associated with deriving those benefits, which would warrant identifying it as an intangible asset of one organization. We then focus attention on methods that can be used to determine the value of patent based in monetary benefits. The patent portfolio of a corporation may generate a significant value as long as it identifies valuable patents that do not afford adequate protection or those whose maintenance fees are not worth the cost.
Este trabalho propõe um modelo de mensuração gerencial do portfólio de patentes de um centro de pesquisa e desenvolvimento em telecomunicações. Para tanto, apresenta-se o conceito de propriedade intelectual, pois considera-se que a compreensão do conhecimento como ferramenta estratégica para as organizações e o seu uso do conhecimento na sociedade demonstra a importância do setor de informação para a economia de todos os países. Ao se expor a questão de Patentes o seu valor indica que a criação de valor ou geração de riqueza é o ponto fundamental da Ciência Econômica. Ao se propor um modelo de análise do portfólio de patentes, parte-se da premissa de que uma exploração racional e sob proteção permite encontrar uma justa remuneração dos esforços despedidos e recuperar os investimentos feitos durante a pesquisa. O trabalho requerido para valorar uma patente envolve procedimentos semelhantes aos utilizados para analisar qualquer outro tipo de propriedade, ou seja, faz-se necessário verificar se existem coproprietários, qual a vida útil, custo de manutenção, o objetivo do titular em explorá-lo e qual o benefício econômico esperado em termos de montante, tempo e risco associado com o recebimento desses benefícios, justificando-se identificá-la como ativo intangível de uma organização. Focou-se atenção no modelo que pode ser usado para determinar o valor da patente em função do benefício econômico esperado em termos monetários. O portfólio de patentes de uma empresa pode gerar um valor significativo através da identificação de patentes valiosas que estão inadequadamente protegidas ou daquelas que não justificam as taxas de manutenção.
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Liao, Chih-Hsien. "Does Corporate Governance Reduce Information Asymmetry of Intangibles?" Case Western Reserve University School of Graduate Studies / OhioLINK, 2009. http://rave.ohiolink.edu/etdc/view?acc_num=case1218675062.
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Koroviakovska, L. M. "Comparing the intangible assets standards and the structure of intangible assets by the border." Thesis, Київський національний університет технологій та дизайну, 2018. https://er.knutd.edu.ua/handle/123456789/10926.
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Siddle, Robert. "Transfer pricing and intangible assets: problem areas in addressing the transfer of intangible assets." Master's thesis, University of Cape Town, 2014. http://hdl.handle.net/11427/18614.
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In assessing the problems that arise when the practice of transfer pricing is applied to the transfer of intangible asset transfers there are certain areas and nuances that need to be recognized. These include the distinction between economic and legal ownership and the fact that the two concepts, in certain circumstance, are mutually exclusive. Furthermore, the fact that the traditional methods of transfer pricing may not be able to address the unique nature of certain intangibles and that even the more complex methods involving both parties may fall short in situations where the rights and obligations connected to the intangibles assets are not subject to written agreements or accounting standards and procedures. In delving into the interaction of these two fields I will first establish the playing field and the rules, being the practice of transfer pricing, both on the international stage and domestic level. Next it will be necessary to understand the nature of intangible assets as viewed internationally. Upon reviewing the status of intangible assets in the context of transfer pricing I hope to locate the shortcomings caused by the unique characteristic of intangibles and hopefully will be able to suggest some viable options and alternatives.
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Wyatt, Anne. "Financial analysts and intangible assets." Melbourne, Vic. : University of Melbourne, Dept. of Accounting and Business Information Systems, 2002. http://wff2.ecom.unimelb.edu.au/accwww/research/papers/0204%20AWyatt&JWong.pdf.
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"June 2002" Includes bibliographical references: (p. 30-35). The papers examines the association between the transparency of corporate financial reporting on intangible assets relative to a proxy for total intangible assets, and analyst incentives to follow firms and properties of analysts' earnings forecasts - controlling for endogeneity among these factors. More transparent financial reporting on intangible assets is measured by higher recognition of intangible assets on the balance sheet relative to a proxy variable for total (underlying) intangible assets, market value added which equals equity market value minus book value with intangible assets subtracted. The results suggest (1) a reputation for transparent financial reporting on intangible assets is associated with increased demand for analyst research and thus analyst following incentives; and (2) a reputation for less transparent reporting on intangible assets is associated with higher forecast dispersion and errors due to analysts' greater reliance on their own private information. The study extends research on determinants of analyst following, forecast dispersion and accuracy, and research on the impact of public disclosure on private information acquisition activity.
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Aksin-Sivrikaya, Sezen. "Essays in Intangible Corporate Assets." Doctoral thesis, Humboldt-Universität zu Berlin, 2021. http://dx.doi.org/10.18452/22870.
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In einer zunehmend vernetzten Welt befinden sich Unternehmen in einem komplexen Beziehungsgeflecht aus verschiedenen Akteuren. Dies stellt eine Herausforderung für die Existenz traditioneller Geschäftsmodelle dar, da Firmen sich mit Konkurrenz aus allen Richtungen auseinander setzen müssen. In einem solchen Geschäftsumfeld werden immaterielle Vermögenswerte zunehmend als Grundlage für Wettbewerbsvorteile angesehen. Die Dissertation untersucht den materiellen Nutzen immaterieller Vermögenswerte und konzentriert sich dabei insbesondere auf die Unternehmensreputation und deren Einflussfaktoren. Wir verwenden als Theorie den Ressourcen-basierten Ansatz des Unternehmens und leiten unsere Hypothesen aus der vorhandenen Literatur ab, insbesondere in den Bereichen Reputation, Führung, Stakeholder-, Legitimitäts- und Signaling-Theorie. Unsere Analysen sind auf Umfragen des Manager Magazins und „Gold Bee Corporate Responsibility Assessment System“ basiert. Bei der Durchführung der quantitativen Analyse verwenden wir Strukturgleichungsmodelle.
Die Implikationen dieser Dissertation lassen darauf schließen, dass es einen Business Case für ein aktives Reputationsmanagement sowohl auf Unternehmensebene als auch auf individueller Ebene für Führungskräfte, vornehmlich für den CEO, gibt. Weiterhin ist eine hohe Reputation ein nachhaltiger Wettbewerbsvorteil, da sie die Wettbewerbsposition des Unternehmens gegenüber den Wettbewerbern stärkt und potentiell neuen Wettbewerbern den Markteintritt erschwert. In ähnlicher Weise kann eine hohe CEO-Reputation als Instrument der Risikoreduzierung in Krisenzeiten genutzt werden. Außerdem zeigen unsere Ergebnisse, dass die ausschließliche Einhaltung von Regeln und Regulierungen nicht mehr ausreichend ist. Damit die Stakeholder Fortschritte belohnen können, muss das Management CSR-Programme etablieren, die bei ihren Stakeholdern Resonanz finden, und darüberhinaus kontinuierlich über die CSR-Leistungen ihres Unternehmens berichten.In a digital world, the very existence of traditional business models is challenged as firms face disruptive innovation and intense competition. In such a business environment, intangible assets are increasingly perceived as the basis of competitive advantage. This thesis explores tangible benefits of intangible assets, specifically focusing on corporate reputation and CSR reporting quality. We take a resource-based view (RBV) of the firm and derive our testable hypotheses from the extant literature mostly in reputation, leadership, stakeholder theory, legitimacy theory, and signaling theory. Our data is mainly drawn from surveys conducted by Manager Magazin and Gold Bee Corporate Responsibility Assessment System, which has been developed by the CSR Reporting Research Group at the WTO Guide CSR Development Center. In performing our calculations, we adopt a (generalized) structural equation modeling approach. In our work, we uncover antecedent processes behind reputations. Our results imply that there is a business case for active management of both corporate and individual reputations by illustrating the link between reputations and firm outcomes. We show that corporate reputation can be utilized as a tool to protect and defend competitive positions, which can also work as a deterrent for potential market entrants. We further show that individual reputations may act as a medium to mitigate negative news and improve stakeholder perceptions in times of crises. Our findings also indicate that nonfinancial metrics are gaining prevalence. We illustrate that mere compliance with rules and regulations does not suffice anymore since in order for stakeholders to reward social and environmental progress, companies need to partake in CSR programs that resonate with their stakeholders and properly communicate associated nonfinancial metrics, which in turn will help improve firm outcomes through boosting internal and external intangible assets.
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Zinchenko, A. V., and M. V. Hissa. "Evaluation of using intangible assets." Thesis, КНУТД, 2016. https://er.knutd.edu.ua/handle/123456789/4846.
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Filippelli, Candace L. "Intangibles: The Most Valuable Unrecorded Asset." Scholarship @ Claremont, 2013. http://scholarship.claremont.edu/cmc_theses/749.
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This thesis proves that intangible assets are impossible to accurately value because of their inherently complex attributes. Intangibles have always existed in the market, but their presence has nearly quadrupled in the last few decades due to the Information Revolution. This technological breakthrough was characterized by the globalization of knowledge, communication, and trade. This dissemination of knowledge due to the infrastructural changes of both the telecommunication and transportation industries transformed the economy from a ‘product-driven’ market to a ‘knowledge-driven’ market. This surge in intangible assets is significant because it proves that “knowledge-driven” elements are now material to company value. As such, accurate measurement of intangible assets is essential to preserving the reliability of financial statements. Current accounting practices largely ignore the value created by intangible asset and this has serious consequences for investors, firms, and the economy as a whole. Insufficient accounting of intangible assets distorts company value, increases the cost of capital, and compromises the reliability of financial statements. While it is utterly impossible to create accounting standards that will, without fail, accurately measure all intangible assets as well as take into account their lifespans, volatility, increasing economies of scale, partial excludability, and lack of tradability, this thesis proposes a way to help mitigate the disparity between what financial statements recognize and what companies actually generate.
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Holia, Denha, Coppola Camila, and Jablonska Sylvia. "Värdering av varumärket : En jämförande studie mellan SEB och Länsförsäkringar Södermanland." Thesis, Mälardalens högskola, Akademin för ekonomi, samhälle och teknik, 2014. http://urn.kb.se/resolve?urn=urn:nbn:se:mdh:diva-25290.
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Frågeställningar: Vilket tillvägagångssätt används för att samla in relevant information för värderingen? Finns det en generell metod för varumärkesvärdering eller använder sig företag inom bankbranschen av olika metoder? Hur redovisas kostnaderna för varumärket i årsredovisningen? Syfte: Syftet med studien är att jämföra två företag inom banksektorn med internt upparbetade varumärken genom att studera likheter och skillnader i hur de värderar sitt varumärke. Metod: Metoden som använts i denna studie är en kvalitativ metod med en deduktiv ansats. Både sekundärdata och primärdata har använts till denna studie. För att samla in den primärdata som behövdes för att besvara de frågeställningar som tas upp i denna studie har det genomförts tre semistrukturerade intervjuer. Två av dessa intervjuer skedde via mail. Den tredje var en telefonintervju. Slutsats: Både SEB och Länsförsäkringar Södermanland mäter kundlojalitet och kundnöjdhet genom att göra undersökningar där frågor till konsumenter ställs om deras uppfattning av varumärket. Dock finns det skillnader i hur de värderar sitt varumärke genom val av metod vilket främst beror på att Länsförsäkringar Södermanland är ett onoterat företag och att SEB är börsnoterat
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Lichti, Paulo Aneas. "Diretrizes para a gestão da conversão do conhecimento tecnológico em patentes." Universidade Federal de São Carlos, 2013. https://repositorio.ufscar.br/handle/ufscar/1114.
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Previous issue date: 2013-02-20This work was carried out with the intention of developing a set of guidelines that seeks to promote the conversion of technological knowledge into effective appropriation of intellectual capital as an intangible asset, through the production of patents. Based on the theoretical references for knowledge management activities, on project office management activities and on the process known as "innovation funnel", and on the method of research-action, the guidelines were developed. Once implemented in a private held business environment that invests in research and development as part of its strategy, it was observed a significant increase in the conversion capacity of technological knowledge generated in patent applications in the order of 16 times over a period prior to the use of those guidelines. Thus, it is concluded that the proposed model is effective and meaningful to provide better conditions for increasing intangible assets of the organization that it was the subject of the study, mainly due to the application of the resources of knowledge management.
Este trabalho foi realizado com a intenção de desenvolver diretrizes para promover a conversão do conhecimento tecnológico em efetiva apropriação do capital intelectual como um ativo intangível, por meio da produção de patentes. Com base no referencial teórico sobre recursos necessários para a gestão do conhecimento, sobre atividades de um escritório de projetos e sobre o processo conhecido como funil da inovação , e por meio do método da pesquisa-ação, elaborou-se e testou-se a aplicação dessas diretrizes supramencionadas. Uma vez implementado em uma empresa privada selecionada devido à sua característica em desenvolver uma estratégia de investimentos contínuos em pesquisa e desenvolvimento, foi possível observar um aumento importante na capacidade de conversão do conhecimento tecnológico gerado pela empresa em depósitos de patentes, da ordem de 16 vezes em relação ao período anterior à utilização das diretrizes. Desse modo, conclui-se que a aplicação destas foi eficaz e significativa para propiciar melhores condições para um efetivo aumento dos ativos intangíveis da organização que foi objeto do estudo, tendo como elemento-chave a utilização de recursos da gestão do conhecimento.
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Liszbinski, Bianca Bigolin. "Implicações provocadas pela convergência às normas internacionais de contabilidade no reconhecimento de ativos intangíveis sob a perspectiva institucional: um estudo em empresas brasileiras de capital aberto." Universidade do Vale do Rio dos Sinos, 2013. http://www.repositorio.jesuita.org.br/handle/UNISINOS/4197.
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Este estudo teve por objetivo analisar as implicações provocadas pela adoção da normativa International Accounting Standard (IAS) 38 no reconhecimento contábil de ativos intangíveis em um grupo de empresas brasileiras, à luz da teoria institucional. Trata-se de estudo descritivo de evidências qualitativas e quantitativas que envolveu basicamente a consulta em demonstrações contábeis de uma amostra de cinquenta empresas classificadas no Índice Bovespa da BM&FBOVESPA. Optou-se em delimitar o estudo entre os anos de 2006 à 2012, visto que este espaço temporal compreende exercícios caracterizados pela antecedência à adoção da norma internacional de contabilidade relativa a intangíveis e exercícios com a institucionalização dessa nova normativa. A análise dos dados consistiu em duas fases principais. Primeiramente, verificaram-se os procedimentos adotados pelas empresas para o reconhecimento dos ativos intangíveis e a sua adequação aos padrões contábeis compulsórios que tangenciam este processo. Posteriormente, fez-se a identificação das classes de intangíveis reconhecidas no período e a sua respectiva valorização. Em geral, as evidências observadas demonstram que a implementação da nova matriz institucional sobre os intangíveis repercutiu nas práticas adotadas pelas empresas. O nível de conformidade aos padrões estabelecidos para o reconhecimento contábil dos ativos intangíveis passou de 32% no ano de 2006 para 84% no ano de 2012, demonstrando uma evolução na harmonização das práticas adotadas pelas empresas. Adicionalmente, embora não constatado aumento dos tipos de categorias reconhecidas após a institucionalização da nova normativa, identificou-se um significativo incremento na representatividade dos ativos intangíveis frente ao ativo total da amostra. Os valores médios contabilizados como intangíveis aumentaram 82% comparandose o período anterior e posterior à adoção desta norma.
This study aimed to analyze the implications caused by the adoption of the International Accounting Standard (IAS) 38 normative in accounting recognition of intangible assets in a group of Brazilian companies, guided by the institutional theory. It is a descriptive study of qualitative and quantitative evidences which involved basically the consult enquiry of financial statements of a fifty-company sample classified in the BM&FBOVESPA Bovespa Index. It was chosen to restrict the study from 2006 to 2012, since this period of time embraces exercises characterized by the adoption in advance of the international accounting related to intangibles and exercises with the institutionalization of this new normative. The data analysis consisted in two main phases. Primarily, the procedures adopted by the companies to the recognition of the intangible assets and its adaptation to the compulsory accounting standards which relates this process were verified. Subsequently, it was identified the classes of intangibles recognized in the period and its respective valuation. In general, the evidences observed show that the implementation of the new institutional matrix about the intangibles reflected on the practiced adopted by the companies. The level of compliance passed from 32% in 2006 to 84% in 2012, showing an evolution on the harmonization of the practices adopted by the companies. Furthermore, although a raise of kinds of categories recognized after the institutionalization of the new normative was not determined, a significant increase on the representativeness of the intangible assets facing the total asset of the sample was identified. The mean values counted as intangibles increased 82% comparing to the previous and subsequent periods to the adoption of this norm.
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Linnell, Erika. "Transfer Pricing : Approaching and Aligning Intangible Assets." Thesis, Internationella Handelshögskolan, Högskolan i Jönköping, IHH, Juridik, 2015. http://urn.kb.se/resolve?urn=urn:nbn:se:hj:diva-28681.
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Zinchenko, O., and L. Korov'yakovska. "Economic essence and classification of intangible assets." Thesis, Київський національний університет технологій та дизайну, 2017. https://er.knutd.edu.ua/handle/123456789/7093.
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Du, Ruixue. "Intangible Assets Valuation in the Hospitality Industry." Diss., Virginia Tech, 2013. http://hdl.handle.net/10919/50577.
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Market value of firms and book value of firms are rarely the same. The difference, which is attributed to unrecorded or unrecognized intangible assets, has increased significantly since the 1970s. The issue of appropriately valuing these intangible assets, however, still remains unresolved. The purpose of this study is to address this lack of understanding of valuing intangible assets in the hospitality industry. Five intangible asset investments: Research and Development, Training, Advertising, Labor, Pension, and one business model, Franchising, are chosen as the valuation constructs in this study based on previous research in the hospitality industry. The valuation models for the casual dining restaurant industry and the quick service restaurant industry are compared.
The sample of this study includes 13 casual dining restaurant firms and 12 quick service restaurant firms. Compustat North America is the primary data source for this study. The annual data for casual dining restaurant firms from 1980 to 2011 is collected from this database. There are 238 firm-years in total. Two firm-years are excluded due to systematic missing values, and 15 firm-years are excluded due to missing share price information. Thus, the final count of data points for casual dining restaurant firms usable for analysis purposes is 221. The annual data for quick service restaurant firms from 1980 to 2011 is also collected from the Compustat North America database. There are 251 firm-years in total. Eight firm-years are excluded due to systematic missing values, and 47 firm-years are excluded due to missing share price information. Thus, the final count of data points for quick service restaurant firms usable for analysis purposes is 196.
Pearson correlation and multivariate analyses are performed to answer the four research questions in this study. Two hypotheses are supported while one hypothesis is not supported and one hypothesis remains unanswered due to Multicollinearity issues identified in multiple regression models. The results of this study show that 1) R&D, training, advertising, labor and pension are all important valuation constructs in the hospitality industry, and 2) there are some differences, however, between casual dining restaurant firms and quick service restaurant firms. This study fills the gap in the current literature by providing a quantitative method to value intangible assets in the hospitality industry that uses the valuation constructs identified in previous hospitality research. The practical implications of this study will provide managers in the hospitality industry with helpful insights for strategic decision making, specifically in regards to research and development, advertising and employee compensation.Ph. D.
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Wu, Bochen. "Intangible Assets and Financial Analysts Herding Behaviour." Thesis, The University of Sydney, 2017. http://hdl.handle.net/2123/17637.
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The question of whether financial analysts provide unbiased forecasts based on the information available to them has been widely discussed in the finance and accounting literature. Financial analysts play a vital role in disseminating information, and their forecasts are important inputs to financial markets. Hence, there is a pressing need to comprehensively understand their forecasting behaviour. Prior studies suggest that financial analysts tend to “herd”, i.e., produce forecasts that imitate each other’s, to avoid the risks to their future careers and reputations inherent in producing bad forecasts. However, the increasing presence and significance of firms’ intangible assets, combined with the difficulty of their valuation, has made analysts’ forecasting tasks increasingly challenging. This study investigates analyst herding behaviour, particularly that which is associated with the intensity of firms’ intangible assets. I used three accounting-based proxies to identify a positive association between firm-specific intangible assets and analyst herding behaviour. More specifically, I first investigated analysts’ herding tendencies at the individual level by examining revised earnings forecasts. As expected, all three proxies were positively and highly significantly, demonstrating that the probability of issuing a “herd forecast” increases with the amount of intangibles of the firm being analysed. The empirical results also demonstrate that analysts’ general experience does not significantly decrease their tendency to herd, while firm-specific experience does. This indicates that firm-specific knowledge or networking may help analysts to obtain high quality private information which helps them to avoid herding. Secondly, at the aggregate level (firm level), I examined the combination of cross-sectional forecast errors and the standard deviations of earnings forecasts. These were used to measure analyst herding behaviour. I found a positive association between firm-specific intangibles and analyst herding behaviour after controlling for various firm characteristics. In addition, compared with analysts who only provided earnings forecasts, analysts who issued both earnings and cash flow forecasts were less likely to herd when covering firms with intensive intangible assets. Finally, consistent with prior research, I found a negative association between analyst herding behaviour and firm market value. An additional determinant of analyst herding behaviour was found, which implies that financial analysts are less confident in their private information when the firms they are analysing have a high intensity of intangible assets. In addition, the results of this thesis confirm the notion that herding behaviour is correlated with task difficulty. This thesis has valuable implications for information dissemination mechanisms in financial markets. The private information of analysts tends to be underweighted and not fully reflected in their earnings forecasts.
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Litvinenko, A. L. "Accounting Peculiarities of Intangible Assest at the Enterprise." Thesis, Київський національний університет технологій та дизайну, 2017. https://er.knutd.edu.ua/handle/123456789/7769.
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Maia, Anna Beatriz Grangeiro Ribeiro. "Ativo intangÃvel com evidenciaÃÃo contÃbil e desempenho dos clubes de futebol brasileiros e europeus." Universidade Federal do CearÃ, 2013. http://www.teses.ufc.br/tde_busca/arquivo.php?codArquivo=14450.
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CoordenaÃÃo de AperfeiÃoamento de Pessoal de NÃvel SuperiorO mercado futebolÃstico assumiu grandes proporÃÃes ao longo do tempo e garantiu seu espaÃo no mercado mundial, tornando-se um negÃcio tÃo rentÃvel como outros investimentos como o mercado imobiliÃrio, com princÃpios da maximizaÃÃo do lucro e com a adoÃÃo de tÃcnicas estratÃgicas e financeiras para a gestÃo administrativa. De acordo com a VisÃo Baseada em Recursos da Firma (RBV), dentre os recursos capazes de favorecer o desempenho empresarial, sobressaem-se os ativos intangÃveis â categoria em que se enquadra a parte mais representativa dos ativos dos clubes de futebol, segundo indicaÃÃes da literatura. Apesar da obrigatoriedade de registro contÃbil em diversos paÃses, estudos nacionais e internacionais apontam que a evidenciaÃÃo do ativo intangÃvel nas demonstraÃÃes financeiras das entidades em geral, e principalmente nas entidades desportivas, tem sido superficial, nÃo compreendendo todos os itens exigidos pelas normas contÃbeis, implicando uma baixa qualidade informacional das entidades nos informes contÃbeis deste tipo de ativo. Com base nos argumentos oferecidos na literatura sobre a evidenciaÃÃo contÃbil incipiente dos ativos intangÃveis pelas entidades desportivas, o presente estudo teve como objetivo geral investigar padrÃes de associaÃÃo entre o ativo intangÃvel com evidenciaÃÃo contÃbil e o desempenho econÃmico dos clubes de futebol brasileiros e europeus listados no Club World Ranking. No que concerne aos procedimentos metodolÃgicos, esta pesquisa classifica-se como: exploratÃrio-descritiva, quanto aos objetivos; documental e bibliogrÃfica, quanto Ãs tÃcnicas; e, predominantemente, quantitativa, quanto à abordagem do problema. A amostra do estudo reÃne os clubes de futebol listados no Club World Ranking 2012, naturais de paÃses que adotam Ãs IFRS, a partir do critÃrio de publicaÃÃo das demonstraÃÃes financeiras de 2011. Para a mensuraÃÃo especÃfica dos ativos intangÃveis com evidenciaÃÃo contÃbil foram utilizadas como variÃveis o Retorno do Ativo IntangÃvel (AIG) e a Representatividade do Ativo IntangÃvel (RAI); do desempenho econÃmico, o Return on Assets (ROA) e Return on Equity (ROE); e do desempenho desportivo, a classificaÃÃo amostral de acordo com a posiÃÃo no ranking. Os resultados da anÃlise quantitativa demonstram que: (i) os clubes se agruparam em seis clusters, sendo trÃs variÃveis mais decisivas, apresentadas em ordem de potÃncia discriminante AIG, Des. Desportivo e ROE; (ii) hà diferenÃas quanto ao perfil de ativos intangÃveis com evidenciaÃÃo contÃbil dos clubes europeus e brasileiros, principalmente quanto ao RAI; (iii) nÃo hà diferenÃas quanto ao perfil de desempenho econÃmico, tanto para ROE quanto para ROA de forma geral, bem como entre os clubes europeus e brasileiros; (iv) nÃo hà padrÃes de correlaÃÃo entre o desempenho desportivo e o perfil de ativos intangÃveis com evidenciaÃÃo contÃbil de forma geral, bem como entre os clubes europeus e brasileiros. De forma mais pontual, nÃo hà correlaÃÃes entre o perfil dos ativos intangÃveis com evidenciaÃÃo contÃbil (AIG e RAI) dos clubes e os respectivos desempenhos econÃmicos (ROE e ROA), apesar de que ter sido identificada correlaÃÃo negativa entre AIG e ROE inesperada, o que suscita novas pesquisas. Do exposto, de acordo com os resultados da anÃlise dos dados dos clubes brasileiros e europeus, conclui-se que nÃo hà associaÃÃo entre o ativo intangÃvel com evidenciaÃÃo contÃbil e o desempenho econÃmico dos clubes de forma geral, bem como entre os clubes europeus e brasileiros; o perfil do ativo intangÃvel com evidenciaÃÃo contÃbil dos clubes brasileiros à diferente dos europeus; e, o desempenho econÃmico dos clubes de futebol brasileiros à semelhante ao dos europeus.
The football market has assumed great proportions over time and secured their place in the world market, making it a business as profitable as other investments as the housing market, with the principles of profit maximization and the adoption of strategic technical and financial arrangements for administrative management. According to the Resource Based View of the Firm (RBV), of resources that can facilitate business performance, stand out intangible assets - category that fits the most representative of the assets of football clubs, according to the indications literature.Despite the mandatory accounting records in many countries, national and international studies show that the disclosure of intangible assets in the financial statements of entities in general, and especially in sports entities, has been superficial, not including all items required by accounting standards, implying a low quality informational entities in the accounting reports of this type of asset. Based on the arguments offered in the literature on fledgling accounting disclosure of intangible assets for the sports entities, the present study aimed to investigate patterns of association between intangible assets with accounting disclosure and economic performance of brazilian and european soccer clubs listed on the Club World Ranking. Regarding the methodological procedures, this research is classified as exploratory-descriptive as to the objectives; documental and bibliographical, as to the techniques; and predominantly quantitative, on the approach of the problem. The sample meets football clubs listed in the Club World Ranking 2012, of natural countries that adopt IFRS, based on the criteria of publication of the financial statements 2011. About the principal proxies, the variables were used: as intangible assets with accounting disclosure, Return of Intangible Assets (AIG) and the Representation of Intangible Assets (RAI); as economic performance, Return on Assets (ROA) and Return on Equity (ROE); and as sports performance, the classification sample according to the Ranking. The results of the quantitative analysis, show that: (i) the clubs were grouped into six clusters, and three most important factors are presented in order of discriminant power AIG, Des. Sports and ROE (ii) there are differences in the profile of intangible assets with accounting disclosure between european and brazilian clubs, particularly for the RAI (iii) there are no differences in the profile of economic performance for both ROE so as ROA to general, as well as between european and brazilian clubs, (iv) there is no correlation patterns between sports performance and profile of intangible assets with accounting disclosure in general, as well as between european and brazilian clubs. More timely, there is no correlation between the profile of intangible assets with accounting disclosure (AIG and RAI) of the clubs and their economic performance (ROE and ROA), although it has been identified negative correlation between AIG and ROE unexpected, the which raises new researches. From the above, according to the results of the data analysis of brazilian and european clubs, it is concluded that: there is no association between intangible assets with accounting disclosure and economic performance of the clubs in general, as well as between European and brazilian clubs, the profile of intangible assets with accounting disclosure brazilian clubs is different from the european, and the economic performance of the brazilian football clubs is similar to that of europeans.
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Karjalainen, P. (Pasi). "Valuation of intangible assets in different financial environments." Doctoral thesis, University of Oulu, 2007. http://urn.fi/urn:isbn:9789514284403.
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Abstract
The purpose of this dissertation is to investigate the valuation of intangible assets in different financial environments. Value relevance of intangible investments has been largely recognized by indicating their close relatedness on future operating performance and valuation of firms. The financial environment of the country (market- or bank-based) is also found to be an important determinant of the economic performance of the firm. This thesis combines these two important issues by examining how a country's financial system affect the firm's investments and valuation of intangible assets.
The study consists of four essays and an introductory section. Essay I investigates the firm's investments in human capital in different legal- and financial environments. The results of this study indicate that human capital asset constitutes an essential part of the market value of firms in all our sample countries. The results also suggest that firms make investments in human capital to increase their innovation capabilities and to improve their future benefits.
Essay II investigates the firm's investments in R&D capital in different financial systems. The common result concerning both financial system is that the estimated R&D capital constitutes a great part of the firm's unrecorded goodwill. The main finding of the study is that the effects of the firm's past profitability and growth on its estimated R&D capital are stronger in bank-based than market-based financial systems. This result emphasizes the role of bank-based financing over market-based financing in the efficiency of resource allocation to R&D investments.
Essay III investigates the stock market's response to the firm's R&D investments in different financial systems by taking account of lead-lag structure between the firm's R&D investments and its market value. The main result of the study is that the stock markets' response to current R&D investments varies between different financial systems with regards to the point in time against which the stock market response is examined. This study suggests that information disclosure policies, level of stock-market expectations and attitude towards risk are the most important potential factors that explain the valuation differences of R&D between market- and bank-based financial systems.
Essay IV investigates the effect's of a country's financial system on current R&D investments and the future profitability of the firm. The main results of this study can be summarized as follows: the firm's current R&D investments are more strongly associated with the level of future firm profitability in bank-based than market-based financial system whereas current R&D investments are more strongly associated with the uncertainty of future firm profitability in market-based than bank-based financial system. The findings of this study suggest that differences in the valuation of R&D between market-based and bank-based financial systems mainly depends on the information asymmetry between the firm and its investors.
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Aksin-Sivrikaya, Sezen [Verfasser]. "Essays in Intangible Corporate Assets / Sezen Aksin-Sivrikaya." Berlin : Humboldt-Universität zu Berlin, 2021. http://d-nb.info/1234451018/34.
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Dobrotková, Kamila. "Recognition of Omitted Intangible Assets: Risks and Rewards." Master's thesis, Vysoká škola ekonomická v Praze, 2015. http://www.nusl.cz/ntk/nusl-207049.
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The aim of this thesis is to analyse the research area of omitted intangible assets from the balance sheet and consider rewards of their potential recognition in the statement of financial position. The theoretical part provides the reader with the current regulation in force and compares it to the regulation prior the standardization and convergence process. The empirical part focuses on valuation of equity of three companies from the pharmaceutical industry based on the model pursued by American professor Stephen Penman. The values obtained are subsequently compared to market prices which are believed to reflect also the possession of omitted intangible assets. Differences identified speak in favour of potential recognition, however these are believed to be marginal comparing to probable inherent risks, which include, inter alia, stock market run-ups and earnings management.
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Arduini, Ilaria. "La determinazione del valore del tasso di royalty nei contratti di licenza." Bachelor's thesis, Alma Mater Studiorum - Università di Bologna, 2016. http://amslaurea.unibo.it/11784/.
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Nell'ultimo trentennio, sul piano economico-industriale, è aumentata l’importanza dei cosiddetti asset intangibili, cioè quelle attività che non si vedono, non si toccano, difficilmente si riescono a misurare e che fanno parte del patrimonio intellettuale aziendale. Infatti questa proprietà, che inizialmente era vista solo come possibilità per un maggiore prestigio, una maggiore efficienza organizzativa, oggi è considerata per quello che è, cioè fonte di vantaggi strategici e strumento che offre la possibilità, a chi investe sull'innovazione e la ricerca, di sfruttare economicamente i risultati. In particolare, la tesi analizza i contratti di licenza di marchi e brevetti nel settore Machinery and Equipment. Si basa sull'analisi di un dataset di 95 contratti di licenza al fine di comprendere le determinanti dei termini economici (tasso di royalty).
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Günther, Thomas, and Heike Moses. "Faktoren für eine erfolgreiche Steuerung von Patentaktivitäten." Saechsische Landesbibliothek- Staats- und Universitaetsbibliothek Dresden, 2006. http://nbn-resolving.de/urn:nbn:de:swb:14-1158060347086-06372.
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Empirischen Studien zufolge können Patente sich positiv auf den Unternehmenserfolg auswirken. Allerdings wirkt dieser Effekt nicht automatisch, sondern Unternehmen müssen sich um den Aufbau und die gesteuerte Weiterentwicklung eines nachhaltigen und wertvollen Patentportfolios bemühen. Bisher ist jedoch nicht wissenschaftlich untersucht worden, welche Maßnahmen Unternehmen ergreifen können, um die unternehmensinternen Vorraussetzungen für eine erfolgreiche Steuerung von Patentaktivitäten zu schaffen. Um diese betrieblichen Faktoren zu identifizieren und deren Relevanz zu quantifizieren, wurden 2005 in einer breiten empirischen Untersuchung die aktiven Patentanmelder im deutschsprachigen Raum (über 1.000 Unternehmen) mit Hilfe eines standardisierten Fragebogens befragt. Auf der Basis von 325 auswertbaren Fragebögen (Ausschöpfungsquote 36,8 %) konnten zum einen Ergebnisse zum aktuellen Aufgabenspektrum der Patentabteilungen sowie zu deren organisatorischen und personellen Strukturen gewonnen werden. Ebenfalls wurde in dieser Status quo-Analyse der Bekanntheits- und Implementierungsgrad von Methoden und Systemen (z. B. Patentbewertungsmethoden, Patent-IT-Systeme) beleuchtet. Zum anderen wurden die betrieblichen Faktoren herausgestellt, auf die technologieorientierte Unternehmen achten sollten, um das Fundament für eine erfolgreiche Patentsteuerung zu legenEmpirical studies have shown that patents can have a positive effect on corporate success. However, this effect does not occur by itself. Companies have to make an effort to create and to develop a sustainable patent portfolio. So far, no academic studies have investigated into which actions a company can take to establish the internal conditions for successful patent management. To identify and to quantify the relevance of these internal factors, a study was conducted using a standardized written questionnaire with more than 1,000 patent-oriented companies in the German-speaking countries (Germany, Austria, Switzerland, Liechtenstein). In total, 325 valid questionnaires were included in the analyses; this corresponds to an above-average response rate of 36.8 %. These analyses revealed insights into the current task profile of patent departments and their organizational and personnel structures. This status quo analysis also included the investigation into the awareness and implementation level of used methods and systems (e. g. patent evaluation methods, patent IT systems). Furthermore, the study could expose the internal determinants, which technology-oriented companies should focus on to ensure a successful patent management
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Danielsson, Andreas, and Fredrik Lindblad. "Unreliable Accoutning of Intangible Assets in a Digital Era : A study on the association between reliability and value relevance of intangible assets." Thesis, Linnéuniversitetet, Institutionen för ekonomistyrning och logistik (ELO), 2021. http://urn.kb.se/resolve?urn=urn:nbn:se:lnu:diva-105460.
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Background: The purpose of accounting and financial reporting is to provide useful information for its users in their decision-making. The importance of intangible assets for companies in the modern digital economy has led to debates concerning how it should be presented in accounting. As of today, the relevance and reliability of intangible assets can be questioned since large values of intangibles are left out of accounting and financial reports. Purpose: The aim of the study is to investigate the association between reliability and value relevance of intangible assets. Method: Using the Feltham and Ohlson (1995) model, we test the association between intangible assets and market valuation of firms. We divide the sample into reliable and unreliable and test whether there is any difference in value relevance of intangible assets between the groups. Conclusion: The result indicates, without statistical significance, that reliability seems to matter more for goodwill than for total intangibles and other identifiable intangibles. Moreover, we suggest that investors seem to focus more on accounting standards and uncertainty than management discretion when assessing reliability of intangible assets. However, we are not satisfied with how reliability has been operationalized earlier and this study reinforces our doubts. Thus, among other suggestions we propose further research directed towards investors to find out whether reliability is important and what they consider as reliable.
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Salo, James P. "Corporate Environmental Performance: Governance, Intangible Assets, and Financial Markets." Thesis, University of Oxford, 2006. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.487052.
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Fourie, Helena Sophia. "Contentious issues in accounting for intangible assets / Helena Fourie." Thesis, North-West University, 2005. http://hdl.handle.net/10394/992.
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Intangible assets have always been a prevailing concept within the economic milieu and
hence in the accounting domain, but it has not been a prominent aspect, or even
regarded as an asset, since the emphasis in the economic environment was invariably
cast on property, production facilities and equipment.
Economic development and progress over the last +I- 30 years have plunged the issue
of intangible assets into the limelight and it has now become a bone of contention in the
doings of the financial accounting operating arena.
One has to look closely at the driving forces of the current economic environment to
grasp the newfound impetus that brought the issue to the fore. The economic
playground of the new millennium has all sorts of toys to toss around, such as
information, innovation, services and relationships. The common denominator among
these driving forces lies in its intangibility.
Users of accounting tools have stumbled across a significant dilemma by raising their
disquietude about the relevancy of financial statements where intangible assets are
concerned. There are resounding claims that intangible assets are not exhibited
accurately in the financial statements of companies.
The general objective of the research project has been to single out certain aspects
concerning the topic of intangible assets and to assert how the accounting fraternity is
dealing with the situation at hand.
The study embraced the following aspects:
*A literature study;
*Empirical research by means of a structured questionnaire that gathered data
about certain identified aspects of intangible assets and measuring how it is
handled by the respondents in the marketplace; and
*Telephonic interviews with key banking officers in the bank sector in South
Africa.
The findings of the questionnaires were used to flag crucial aspects of intangible assets
and to identify the ensuing approach needed to handle intangible assets within the
accounting body of knowledge. The results have shown that the recognition of and
reliably measuring intangible assets have become a dilemma that is, in all probability,
here to stay for a while to come. Users that responded in the empirical study clearly
indicated that the reliable measurement of intangible assets outweighs the relevancy of
information about intangible assets.
On the strength of the results of this study, by word of the users of financial statements,
the recommendation is posed that relevant, additional information regarding intangible
assets should be attached to the financial statements, or that additional notes should be
provided.
Moreover, a supplemental recommendation entails that the classification and the
recognition criteria of accounting standards should be revisited in order to establish
clearer guidelines for the identification and recognition of intangible assets.Thesis (M.Comm. (Accounting))--North-West University, Potchefstroom Campus, 2006.