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Pastor, Damián, Jozef Glova, František Lipták, and Viliam Kováč. "Intangibles and methods for their valuation in financial terms: Literature review." Intangible Capital 13, no. 2 (February 10, 2017): 387. http://dx.doi.org/10.3926/ic.752.
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Purpose: The purpose of this paper is to review literature devoted to intangibles and their valuation and give examples of the methods that can be used for valuation of individual intangibles in financial terms.Design/methodology/approach: Paper presents a systematic review of articles dedicated to intangibles and their valuation.Findings: This review shows that there is a need for consensus in definitions of intangibles, intangible assets, knowledge assets and other related terms. These terms are used interchangeably in spite of their different meanings. Many methods for valuation of intangibles can be found in the literature, but widely accepted list of basic intangibles with suggested methods for their valuation in financial terms is still missing.Research limitations/implications: Not all the papers related to this topic could be covered in this paper. Presented list of important intangible components may be enhanced and examples of some other methods for their valuation may be added in the future.Practical implications: Paper calls for development of framework comprising list of the most important intangibles, proposals of methods used for their valuation and examples of their use. This framework can be helpful for organization, which are confronted with a difficult task of intangibles valuation.Originality/value: Basic definitions and differences between intangibles, intangible assets, identifiable intangible assets, knowledge assets and intellectual capital have not been mentioned in one paper yet. List of intangibles and methods for their valuation gives a direction for future work that can be fruitful for valuation of intangibles.
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Russell, Mark. "The valuation of pharmaceutical intangibles." Journal of Intellectual Capital 17, no. 3 (July 11, 2016): 484–506. http://dx.doi.org/10.1108/jic-10-2015-0090.
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Purpose – The purpose of this paper is to value the patents of pharmaceutical companies using discounted cash flows, and compare the value-relevance of these assets against alternative intangible asset measures such as reported intangible assets and R & D capital. Design/methodology/approach – The study values pharmaceutical intangibles using three methods: an income method; the sum of unamortised R & D expenditures; the firm’s reported intangible assets. Value-relevance tests use ordinary least squares regression and Vuong and Clarke tests. Findings – First, the study finds that the discounted cash-flow valuation of pharmaceutical patents is value-relevant. Second, the value of pharmaceutical patents explains market value better than reported intangible assets but not R & D capital. However, the valuation of pharmaceutical patents is more consistent with the risks of R & D than the valuation of R & D capital which assumes recovery of R & D expenditure. Originality/value – This is the first known study that values patents using an income method and compares those valuations with reported intangible assets and R & D capital valuation models.
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Frey, Hannes, and Andreas Oehler. "Intangible assets in Germany." Journal of Applied Accounting Research 15, no. 2 (September 2, 2014): 235–48. http://dx.doi.org/10.1108/jaar-07-2014-0068.
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Purpose – Intangible assets are regarded as the future value drivers of company performance. However, hardly anything is known about the actual importance and influence of intangible assets. The purpose of this paper is to fill this gap, so the authors analyse the German stock market index DAX and accomplish a survey among the German Certified Public Accountants (CPAs) concerning intangible assets. Design/methodology/approach – In a first step, the authors analyse the balance sheet data and the corresponding notes of the companies with regard to reported values of intangible assets and applied valuation methods. The sample period covers the years from 2005 to 2008. In a second step, the authors analyse the statements of the German CPAs with regard to intangible assets. The authors sent a standardised questionnaire to all 180 offices of the top ten German auditing firms. Findings – The results indicate that intangible assets have gained in importance, while information on valuation methods is still scarce. According to the German CPAs, the current influence of intangible assets on company performance is on a high level and even will increase during the next few years. The mostly used valuation approach for the fair value measurement of patented technologies is the income approach. Furthermore, the accounting standards leave room for accounting policy – a result which casts doubt on the reliability of financial statements. Originality/value – For the first time not only annual balance sheet data but also corresponding notes regarding intangible assets are analysed. The findings are connected with a survey of an expert group for the valuation of intangibles.
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Petković, Miloš, Bojan Krstić, and Tamara Rađenović. "Accounting -based valuation methods of intangible assets: Theorethical overview." Ekonomika 66, no. 1 (2020): 1–12. http://dx.doi.org/10.5937/ekonomika2001001p.
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Zygmański, Tomasz. "IMPORTANCE VALUATION OF INTANGIBLE ASSETS IN ACCOUNTING FOR THE VALUATION OF ENTERPRISES WITH ASSETS BASED METHODS." Zeszyty Naukowe Uniwersytetu Szczecińskiego Finanse Rynki Finansowe Ubezpieczenia 88 (2017): 207–17. http://dx.doi.org/10.18276/frfu.2017.88/1-20.
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Lu, Yu-Hsin, and Yu-Cheng Lin. "Using Hybrid Classifiers to Conduct Intangible Assets Evaluation." International Journal of Applied Metaheuristic Computing 7, no. 1 (January 2016): 19–37. http://dx.doi.org/10.4018/ijamc.2016010102.
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Traditional financial reporting usually ignores intangible assets, even though these assets play an increasingly important role in today's knowledge-based economy. As such, the valuation of intangible assets, while typically overlooked in traditional reporting, has nonetheless garnered widespread interest. This paper uses data-mining technologies to identify important valuation factors and to determine an optimal valuation model. In the feature selection process, the paper focus on three methods, namely, decision trees, association rules, and genetic algorithms in data mining, to identify important valuation factors. The results show that decision trees have approximately 75% prediction accuracy and select seven critical variables. In the prediction process, the paper constructs and compares many kinds of evaluation and prediction models. The results show that hybrid classifiers (i.e., k-means + k-NN) perform best in terms of prediction accuracy (91.52%), Type I and II errors (11.17% and 7.15%, respectively), and area under ROC curve (0.908).
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Osinski, Marilei, Paulo Mauricio Selig, Florinda Matos, and Darlan José Roman. "Methods of evaluation of intangible assets and intellectual capital." Journal of Intellectual Capital 18, no. 3 (July 10, 2017): 470–85. http://dx.doi.org/10.1108/jic-12-2016-0138.
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Purpose The competitive model has changed. In this context, society entered into an era in which intangible assets are the greatest assets of a company. However, some gaps and uncertainties are presented in the literature as to understand the value of a company based on knowledge intensive activities. The purpose of this paper is to analyze the methods of evaluation of intangible assets in the context of business, economic and strategic management. Design/methodology/approach This is a qualitative research. This research is characterized as descriptive, bibliographic, inductive. Findings The main results of this research can highlight the existence of valuation methods of intangible assets intended for specific industries, as public and/or private, that can be better aligned to the context of business; economic and/or strategic management. Originality/value It was found that intangible assets are a current topic and increasingly addressed in the literature.
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Heller, J., and Daria Zlachevskaia. "Is it possible to improve methods of intellectual property valuation?" Zeszyty Teoretyczne Rachunkowości 45, no. 2 (June 21, 2021): 161–86. http://dx.doi.org/10.5604/01.3001.0014.9568.
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Purpose: The purpose of this study is to identify ways to improve or simplify the quality and accuracy of IP valuations via accounting regulation improvements. Methodology/approach: This research relies on qualitative research methods such as case law analysis and comparative research of accounting standards and approaches. Findings: Evidence from this study points towards the conclusion that financial statements currently only reflect a historic financial record of the particular business, profoundly biased by a conservative tangible assets perspective. The central thesis of this study is that it makes sense to adopt a comprehensive intellectual property valuation strategy to ascertain the specific value of the intangible assets since the comprehensive application of valuation models is likely to yield superior results to using them separately. Research limitations/implications: Although the proposed approach seeks to bring more clarity to the valuation process while simplifying the appraisal of intellectual property assets, its efficacy is subject to increased transparency, a maturing intellectual property market, and credible data availability. Originality/value: This study makes a valuable contribution to research on methods that facilitate accurate intellectual property valuation while offering an alternative valuation model which combines the strengths of individual valuation models.
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Aznar Bellver, Jerónimo, and Vicente Estruch Guitart. "Valoración de activos ambientales mediante métodos multicriterio. Aplicación a la valoración del Parque Natural del Alto Tajo." Economía Agraria y Recursos Naturales 7, no. 13 (October 15, 2011): 107. http://dx.doi.org/10.7201/earn.2007.13.06.
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The valuation of these goods can be a relevant element for their conservation and improvement, though the intangible and immaterial aspects of environmental assets difficult the utilisation of the traditional methods of valuation. This work presents a methodology for the valuation of those assets combining multi-criteria methods, the Analytic Hierarchy Process and the Goal Programming and traditional method the Discounted Cash Flows. The combination of both techniques allows extracting an indicator of the Total Economic Value (TEV) of an environmental asset, as well as of each partial value which make up the TEV, including tangible and intangible elements. The proposed methodology is applied to the valuation of the 'Alto Tajo' Natural Park.
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Mrša, Josipa. "Valuation of Internally Generated Intangible Assets in Accounting." Acta Economica Et Turistica 4, no. 2 (December 1, 2018): 181–95. http://dx.doi.org/10.1515/aet-2018-0012.
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AbstractValuation and management of intangible assets in modern business is becoming more significant. Measurement of the value of intangible assets in this paper refers to the intangible resources for which the company did not have any procurement costs and, therefore, are not standardized in traditional accounting, and their use has the potential to create value on the market. Knowledge, as the basis of intellectual capital, becomes a basic strategic resource and a generator for improving the organization’s success. Therefore, determining the way of identifying and evaluating intellectual capital becomes the common practice of the most successful companies through indicators that have their quantitative or qualitative weight.The interest of users of financial statements for the value of intellectual capital depends on their involvement in the overall business. Its value is basically the difference between high-efficiency companies and those that are less efficient. It becomes the starting point for business analysis of the company to reveal the hidden, untapped value of human capital and point to the need to make the business better. Possible methods of valuation of the total intangible assets of the company are presented, some of which are standardized, but most of the value, contained in intellectual capital, is not valued or recognized. It is proposed that, along with the standard financial statements, the total value of the intellectual capital to which the results are realized on the market.
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Yuriy Pikalov. "CONSIDERATION, ANALYSIS AND DEVELOPMENT OF SOME EXISTING APPROACHES TO QUANTITATIVE VALUATION OF INTANGIBLE ASSETS." Proceedings of Scientific Works of Cherkasy State Technological University Series Economic Sciences, no. 59 (December 28, 2020): 124–34. http://dx.doi.org/10.24025/2306-4420.1.59.2020.221028.
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Many recent scientific publications on the current and future development of the world economy highlight such a trend as the knowledge economy. It is logical to hope that if such a trend exists, it would be possible to observe the corresponding processes in changing the attractiveness of certain assets, namely the increase in the attractiveness of any assets closely related to knowledge. A similar situation would apply to innovation development, i. e., processes related to investment and R&D, etc. Data on the distribution of shares of tangible and intangible assets in the capital structure and trends in the investment attractiveness of certain assets can show the real picture. The article is devoted to the analysis of the situation of the growth of attractiveness of intangibles and intellectual capital in the conditions of intensification of innovative development and formation of knowledge economy. A comparative analysis of statistical data on investments in tangible and intangible assets in Europe, the United States and Ukraine shows that there is a tendency to increase the attractiveness of the latter types of assets. Several hypotheses have been formed, the testing of which is a necessary task of further research. Various existing approaches to the valuation of intangible and intellectual assets have been researched and systematized. It is established that the diversity of existing international approaches is reduced to several classes of patterns. Their general features, shortcomings and factors that lead to low quality of results of valuation of intangible assets or to their leveling of results are revealed. The necessity for formation of another class of estimation methods is offered and substantiated, which with necessity should be based on other, alternative principles. In general, the conceptual foundations of this class of methods are proposed and the general logical and theoretical foundations for its formation are laid. According to these principles a new class of approaches should be built according to the quasi-physical approach to the consciousness phenomena and on the principles of standardization and unification.
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Kubjatkova, Anna, and Juraj Kolenčík. "Trademark evaluation of the selected company in the aspect of globalization." SHS Web of Conferences 74 (2020): 01020. http://dx.doi.org/10.1051/shsconf/20207401020.
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The awareness of intangible assets is growing more and more today. Compared to the past, we are much more aware of the existence of a certain intangible substance which, together with the material substance, constitutes the value of society. Determining the value of an enterprise’s intangible assets on a global scale is becoming increasingly important as the value of an enterprise is not made up of only its tangible assets but its intangible side. An obvious part of intangible assets is also a trademark. The trademark is now much more important for companies, also due to globalization. It is an essential part of the company’s intangible assets, which is very often underestimated and therefore it is necessary to choose the right procedure for determining the value of all its components. As a result of globalization and comprehensive marketing strategies are trademark valuation methods gradually beginning to unite around the world. The main aim of this work was to choose a suitable valuation method of a trademark and to calculate its value in a selected company. We chose this aim because evaluation of the trademark appraisal is very often a difficult topic for businesses and the general public.
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Vulpiani, Marco. "Purchase Price Allocation and Choice of the Valuation Methods." Business Valuation Review 27, no. 2 (January 1, 2008): 79–84. http://dx.doi.org/10.5791/0882-2875-27.2.79.
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Abstract As known, the purchase price allocation (PPA) process implies the valuation of tangible and intangible assets to allocate the price paid to the assets acquired. The rationale that drove the standards setters (FASB and IASB) in the formulation of the relevant standards (SFAS 141 and IFRS3) was to give a full explanation of the purchase price (PP) paid to the stakeholders of the acquiring company. During the PPA process, this simple, underlying rationale of the accounting standard is sometimes set aside. One of the most critical phases of the valuation process, represented by the choice of the valuation method, is done on the basis of the critical issue of the assets under valuation, instead of considering the valuation criteria followed during the formulation of the price. In other words, the analysis is performed as if it were a single, autonomous process completely separate from the PP formulation process. In this paper it is shown that to respect the underlying principle of the standard setters, the methods chosen for the valuation of the assets should be consistent with the method used during the formulation of the price, even for tangible assets. Otherwise the PPA implementation determines inconsistencies that can give distorted information about the acquisition to stakeholders, against the genuine underlying principles of the standard setters.
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Dmitrenko, I. M., R. O. Kostyrko, and V. P. Bondar. "Methodological Principles of the Accounting for Intangible Assets from the View of National and International Standards." Statistics of Ukraine 83, no. 4 (December 17, 2018): 111–20. http://dx.doi.org/10.31767/su.4(83)2018.04.13.
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The article defines the basic accounting items that determine the impact on the complex of methodological principles of accounting and reporting generalization of information about intangible assets. The complex of basic accounting positions for intangible assets is proposed in the following composition: definition of the object of accounting; method of identification; response to goodwill; how to receive and how to pay; the criteria for recognizing the asset is intrinsic; method of initial assessment; revaluation model; response to impairment; conditions for the choice and application of methods of accrual of depreciation; directions of disclosure.
The key methodological principles of accounting for intangible assets are systematized on the basis of a comparative analysis of the provisions of national and international standards. As a result of the comparative analysis, both conceptually similar principles and those that are characterized by significant differences are established. In particular, this applies to: the ways of obtaining and payment of the intangible assets, for which the IAS does not provide for the free receipt and payment of an intangible asset to the authorized capital of the enterprise, which emphasizes the nature of such assets in view of the obligation to receive future economic benefits; the definition of the value of internally generated goodwill is precisely in IAS, which contributes to a reasonable separation from the value of its own intangible assets in the event of the merger of enterprises; the initial valuation of the intangible assets, for which IAS prioritizes the valuation at cost rather than fair value, as defined by National Accounting Standards, due to the dependence of the usually unpopular phenomenon - the existence of an active market for such assets; the variability of the choice of depreciation methods for the intangible assets, for which IAS offers more opportunities to take into account the specifics of the use of these objects during the formation of depreciation costs; directions of disclosure of the intangible assets information in the notes to the financial statements, which are clearly defined in the IAS.
Comments on the conditions for the implementation of the requirements of national and international standards for the accounting of intangible assets at the level of economic entities from the point of view of the established differences and their consequences are given. It is proved that a much higher level of transparency of information about intangible assets is provided in the case of accounting and financial reporting by entities in accordance with the requirements of IAS and IFRS.
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Majewski, Sebastian, and Agnieszka Majewska. "Using Monte Carlo Methods for the Valuation of Intangible Assets in Sports Economics." Folia Oeconomica Stetinensia 17, no. 2 (December 1, 2017): 71–82. http://dx.doi.org/10.1515/foli-2017-0019.
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AbstractThis paper indicates the possibilities of using Monte Carlo simulations methods in players’ performance rights value monitoring. The authors have formulated a hypothesis that connects Monte Carlo methods (MC) and econometric models of the player’s life cycle that could give club managers another source of information for the decision process. The MC method in finance is usually used to value the option price on the basis of assumed distribution of price changes. In this approach, the method was used to determine future the hypothetical value of footballers’ performance rights. Using econometric models of the player’s life cycle we could observe and analyse the phase in the life cycle of a football player and determine volatility.In this paper we use historical data of the market values of chosen football players from the websitehttp://transfermarkt.de. The analysis is based on popular valuable players after the growth phase of their life cycle. For the visualisation of the “Championships games bubble” problem we analyse the periods before and after the UEFA EURO 2016.The opportunities and threats of a such an attempt are shown in this paper.
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NURGALIEVA, E. I. "PECULIARITIES OF INTANGIBLE ASSETS AND INTELLECTUAL CAPITAL AS THE OBJECTS OF VALUATION AND THE FACTORS OF MARKET VALUE GROWTH OF RUSSIAN COMPANIES." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 2, no. 6 (2021): 102–9. http://dx.doi.org/10.36871/ek.up.p.r.2021.06.02.016.
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The article analyzes intangible assets and intellectual capital from the point of view of their impact on the market value of Russian companies. For the purpose of this analysis, methods of valuation of these indicators are considered.
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NURGALIEVA, E. I. "PECULIARITIES OF INTANGIBLE ASSETS AND INTELLECTUAL CAPITAL AS THE OBJECTS OF VALUATION AND AS THE FACTORS OF MARKET VALUE GROWTH OF RUSSIAN COMPANIES." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 1, no. 6 (2021): 45–52. http://dx.doi.org/10.36871/ek.up.p.r.2021.06.01.008.
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The article analyzes intangible assets and intellectual capital from the point of view of their impact on the market value of Russian companies. For the purpose of this analysis, methods of valuation of these indicators are considered.
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Diadiun, O. O. "The Accounting Policies of Enterprises for Intangible Assets: The Basic Principles and Features of Formation." Business Inform 12, no. 515 (2020): 302–9. http://dx.doi.org/10.32983/2222-4459-2020-12-302-309.
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The article is aimed at examining the theoretical-practical bases of formation of accounting policy for intangible assets of enterprise, taking into account the conceptual basis of financial statements – either UAS (Ukrainian Accounting Standards) or IFRS (International Financial Reporting Standards). The analysis and generalization of the requirements of regulations, as well as scientific works of many scholars on understanding the essence of the concept of «accounting policy» were carried out. Two key directions of understanding of accounting policy by domestic scholars are allocated: the closer specified one (description of alternative solutions) and the wide one (disclosure of an additional array of information in addition to choosing from the permitted alternatives). The author’s own approach to understanding the accounting policy in terms of intangible assets is proposed: it is a description of the decisions chosen by the enterprise from a number of alternatives stipulated by the standards (UAS or IFRS), regarding the recognition, valuation, submission and disclosure of information about intangible assets, as well as other aspects deemed essential. The approaches of domestic scholars to identify the main elements of accounting policy related to intangible assets are considered. On the basis of the study of alternative requirements of IAS 38, a minimum set of elements of the enterprise’s accounting policy for intangible assets is proposed, as well as key differences in approaches to the preparation of accounting policies under the UAS compared to the IFRS are defined. The appropriateness of disclosure of tax aspects in accounting policy is analyzed. Approaches to improving accounting policy and ensuring its innovative nature through the presentation of independent decisions of the enterprise on disclosure of information about intangible assets in the broad sense of this concept are proposed. It is recommended to disclose information on the identification of classes of the implicit innovation-oriented assets, approaches to valuation and monitoring of these assets outside of traditional accounting methods, as well as disclosure channels for such assets.
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Amekudzi-Kennedy, Adjo, Samuel Labi, and Prerna Singh. "Transportation Asset Valuation: Pre-, Peri- and Post-Fourth Industrial Revolution." Transportation Research Record: Journal of the Transportation Research Board 2673, no. 12 (June 28, 2019): 163–72. http://dx.doi.org/10.1177/0361198119846470.
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A critical component of transportation asset management, asset valuation has been applied historically largely to provide condition-based value assessments of transportation infrastructure. There are emerging opportunities for innovations in asset valuation methodology with applications in the MAP-21/FAST performance-based era, and the Fourth Industrial Revolution (4IR). Opportunities exist to incorporate a wider range of value factors to capture multiple objectives in planning, design, and rehabilitation, such as safety, mobility, economic advancement, resilience, sustainability, and equity, to reflect the growing importance of intangible assets, as well as consider more explicitly value-adding technologies in this era of smarter infrastructure and rapid technological change. The paper first examines existing methods in transportation asset valuation practice and trends in asset valuation thinking through a literature review on asset valuation methodology with transportation applications. It then outlines innovation pathways and future research directions in asset valuation that can enhance existing capabilities to capture an expanding notion of transportation infrastructure value in the 21st century. For transportation professionals with continuing interest in valuation approaches to enhance asset management, this paper offers a catalog for identifying appropriate valuation approaches. For researchers and practitioners interested in pursuing innovations to secure increasingly smart, effective, and efficient transportation systems, the paper outlines innovation pathways and research directions enabled by growing computing power and data collection capabilities in the 4IR.
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Legenchuk, S., and S. Iskorostenska. "Development of accounting for intangible assets based on the theory of intellectual capital." Economics, Entrepreneurship, Management 7, no. 2 (November 2020): 102–11. http://dx.doi.org/10.23939/eem2020.02.102.
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The relevance of the study lies in the fact that development of a market economy and enterprises themselves, especially in a highly competitive environment, is almost impossible without the active orientation of production structures towards innovative and intellectual activities. The question of the nature of intellectual capital and how it is measured is therefore relevant, since it is the efficient use of such capital that greatly improves the quality of information, and improve management technology and innovation. Intellectual capital is a necessary part of the economic policy of a modern enterprise. The study aimed to determine the essential characteristics and structure of intellectual capital. To achieve this goal, we were focused on the next tasks: determination of the intellectual asset, research in the framework of the legislative requirements of accounting for the composition of intangible assets, and improvement of accounting process of valuation of intangible assets. During the research following general and specific scientific methods were used: theoretical generalization, analogy, abstraction, statistical observation, analysis, synthesis, scientific abstraction, critical analysis of accounting issues.
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Janoskova, Katarina, and Anna Krizanova. "Comparison of selected internationally recognized brand valuation methods." Oeconomia Copernicana 8, no. 1 (March 31, 2017): 99. http://dx.doi.org/10.24136/oc.v8i1.7.
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Research background: There are many consultative groups and market research companies on the market that have also brand valuation included in their service portfolios. Such companies tend to adopt their own unique approaches to value brands to face increasing competition, which is also reinforced by the fact that brand constitutes the company's most valuable commercial and intangible assets. The paper compares selected internationally recognized brand valuation methods, using the mathematical statistics apparatus (Pearson and Spearman correlation coefficients), on the sample of 12 global well-known brands (Apple, Google, Microsoft, Coca-Cola, Facebook, Toyota, IBM, Disney, McDonald's, General Electric, Samsung and Amazon).
Purpose of the article: The aim is to analyze the brand values and the methods applied for possible deviations, and identify whether they are statistically significant and/or find any statistical correlation, or eventually recognize them as totally different and independent approaches.
Methods: The analysis is carried out by pairwise comparison of selected brand values provided by selected consultative companies (Forbes, Interbrand, Brand Finance and Millward Brown). The degree of correlation of brand values provided by respective consultative groups is calculated using the following correlation coefficients: Pearson's correlation coefficient and its modified non-parametric version involving ordinals — Spearman's rank correlation coefficient.
Findings and Value added: The analysis proved the highest correlation of the brand values provided by the Forbes and Interbrand; Subsequently, a trend analysis is carried out to determine the development over time, identifying the most striking development in the brand values provided by Millward Brown (BrandZTM) for the period 2013–2016.
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Loyarte, Edurne, Igor Garcia-Olaizola, Gorka Marcos, María Moral, Nora Gurrutxaga, Julian Florez-Esnal, and Iñaki Azua. "Model for calculating the intellectual capital of research centres." Journal of Intellectual Capital 19, no. 4 (July 9, 2018): 787–813. http://dx.doi.org/10.1108/jic-01-2017-0021.
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Purpose The purpose of this paper is to develop a model to help RTC managers in the technological and R&D decisions and bets so as to change the perceived value of the R&D projects of the centres. To achieve this aim, the paper investigates the different models for the valuation of intangible assets. Design/methodology/approach The paper presents a single case study and focusses on creating a useful IC valuation model for the centre, using existing methods and frameworks in IP and IC fields. Findings The paper presents a new method for the calculation of IC applied to a RTC in ICT sector, in which the valuation of the IP is included (software libraries) and the KM and the peculiarities of these kinds of organisations are explained. The model is based on Edvinsson and Malone (1997) and Leitner (2005). Research limitations/implications Although the use of a single case provides rich data, it is also limits the generalisability to other RTCs. Another limitation is that not all existing methods were explained. This new method constitutes a first proposal for the IP and IC valuation in RTCs and further discussion and development would be carried out in the future. Practical implications The results suggest an IP and IC measurement model to improve the strategic and technological decisions making. Social implications This paper may favour the competitiveness of companies engaged in intangible assets (knowledge, R&D) and the negotiation of the contracts since it arrives to determine a value for the intellectual property (software libraries) and intellectual capital. Originality/value This paper proposes an IC Model orientated towards an RTC context and to provide a value perspective for them. The authors are practitioners and the model is in use.
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Terletska, Viktoria. "Approaches and methods of evaluation of the innovation company." Management and Entrepreneurship in Ukraine: the stages of formation and problems of development 2021, no. 1 (June 1, 2021): 177–82. http://dx.doi.org/10.23939/smeu2021.01.177.
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The article the main traditional approaches to business valuation, namely: profitable, costly and comparative have been explored and analyzed. The main methods within each of the traditional approaches have been investigated. The methods of estimating the value of business by income approach are the method of capitalization of net income, the method of capitalization of dividends, the method of capitalization of excess income and the method of discounting cash flow. The methods of estimating the value of business by the cost approach are: the method of net book value, the method of adjusted book value, the method of estimating the net market value of tangible assets, the replacement cost method, the replacement cost method and the liquidation value method. The methods of estimating the value of business by a comparative approach are the method of industry ratios, the method of comparing sales and the method of multipliers. In addition, it is found that in modern conditions, traditional approaches to assessing the value of the business “in its pure form” are not always used by venture investors, and the most popular methods are contractual, multipliers, discounted cash flow, venture and real options. Synthetic models play an important role today. In world practice, many different approaches are used to assess the value of companies, their assets, business in general. However, the issue of evaluation is still insufficiently addressed. When conducting valuation work in enterprises, many of the existing approaches are either not used at all, or are used very rarely, resulting in practice does not always achieve a comprehensive, complete and objective assessment of the amount of capital. A characteristic feature in determining the value of the business within the application of each of the commonly used methods is the need to take into account various aspects of financial activities, which leads to different estimates of the value of the business, which requires coordination of the results. This situation involves the selection of key cost parameters to obtain the final value of the business. Given the above, there is a need and feasibility to reconcile the results of business valuation methods, which will help to obtain a reasonable value by combining the advantages of each of the traditional methods. Determining the value of the company is one of the most important tasks in the field of corporate governance, which makes it possible to assess the level of competitiveness and success of the company in the market. The process of determining the value is carried out with a specific purpose: calculating the sale price, property insurance, obtaining a loan, etc., which determines the choice of valuation method. Business valuation is the determination of the value of a business as a property complex that can bring profit to the owner. When conducting an appraisal examination, the value of all the company’s assets is determined: real estate, machinery and equipment, inventories, financial investments, intangible assets. In addition, the efficiency of the company, its past, present and future revenues, development prospects and competitive environment in this market are assessed separately, and then the evaluated company is compared with similar companies. On the basis of such a comprehensive analysis, the business is actually assessed as a property complex that can be profitable.
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Iazzolino, Gianpaolo, and Giuseppe Migliano. "The Valuation of a Patent through the Real Options Approach: A Tutorial." Journal of Business Valuation and Economic Loss Analysis 10, no. 1 (January 1, 2015): 99–116. http://dx.doi.org/10.1515/jbvela-2014-0007.
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AbstractThe importance of knowledge and other intangible activities for the success of an enterprise have been broadly recognized over the last few years. In this paper a tutorial is illustrated on the valuation of a patent through the real options approach (ROA), since the use of the discounted cash flow (DCF) methods, such as the net present value (NPV), seems to show issues when evaluating opportunities, such as the ones offered by intangible activities. The logic underlying ROA is tightly based on financial options and, in this sense, uncertainty can be seen as an opportunity, and not necessarily as a threat and its effect on the value of an activity can become positive. The patent analysed (registered in 2009) is a patent by the Alfa Group (this is not the real name of the firm but is used here for privacy reasons), which is a worldwide leader in the production of Getters, metallic elements that, through a chemical absorption process, keep the devices in which they are embedded in vacuum status. Such equipment is used in lightning systems, monitor screens, flat screen TVs, etc. In this tutorial, an ROA has been developed in order to demonstrate how the value of intangible assets can be estimated by using an Italian case study that can be useful for further studies and uses.
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KOVALOVA, Hanna, Adil Mohamed Abdalla Sultan AL ALI, and Viktor ZAMLYNSKYI. "Business reputation of the company as one of the most important components of the company's success." Economics. Finances. Law, no. 6/2 (June 30, 2021): 29–32. http://dx.doi.org/10.37634/efp.2021.6(2).6.
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The paper examines the company's business reputation in detail as one of the most important components of a company's success. Currently, there is no doubt that goodwill is the most important intangible asset of the enterprise, despite the fact that it differs significantly from other intangible assets in its content, methods of acquisition or disposal, valuation methods. The paper presents an analysis of the issue of business reputation and shows its relevance, reveals such concepts as “reputation”, “business reputation”, methods of management and evaluation of business reputation of the company. Today, the problem of reputation management is experiencing a real peak of its relevance. “Reputation – a valuable intangible asset of the company, which accumulates over the years and can be destroyed immediately” – this phrase in one variation or another is constantly heard at conferences, flashes on the pages of business publications, appears in corporate business plans. Experts agree that a good reputation makes a company more attractive to investors, increases its capitalization, increases income, provides a stronger position in entering new markets and supports the general population. Obviously, to achieve a noticeable effect, any actions to manage business reputation, taken by the organization, must be long-term and systematic, be integrated into key business processes. Researchers publish research results that prove the positive impact of reputation on other parameters of the business model. There is no doubt that reputation must be managed. Therefore, this is exactly what was described in detail in the paper.
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Ferraro, Olga, and Elena Cristiano. "Valuation of Human Capital: A Review of Studies on Quali-Quantitative Methods." International Journal of Business and Management 14, no. 11 (October 16, 2019): 165. http://dx.doi.org/10.5539/ijbm.v14n11p165.
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Human capital is an important component of company assets as an intangible element linked to the future potential of the company itself and, therefore, capable of contributing to a considerable extent to the creation of its value. It is clear, therefore, that the evaluation of the economic capital of a company cannot disregard the estimate of its human capital, or rather the enhancement of the knowledge, skills and intrinsic attitudes of the personnel and the methods of organization and management of the same, from the specialized technicians for ward assistants and management. The paper aims to present an overview of the techniques and models through which the business-economic literature and professional practice has addressed the problem of measuring human capital. The originality of this work is to follow a path that provides a framework as exhaustive as possible of methods, models and sources to refer to in the qualitative-quantitative measurement of human capital. This objective seeks to respond mainly, even if not exclusively, to the needs of those who work in the process of estimating the economic value of capital. From the comparison of the latter it is clear that there is no optimal choice for estimating the economic value of capital, but it is a prevalent opinion in the literature that qualitative and quantitative models, rather than antinomies, must be complementary.
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Fidanza, Barbara. "The valuation by multiples of Italian firms." Corporate Ownership and Control 7, no. 3 (2010): 228–41. http://dx.doi.org/10.22495/cocv7i3c1p7.
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The purpose of this paper is twofold. First, the paper illustrates which comparables selection method provides the most accurate forecasts by using multiples. Firms listed on the Milan stock exchange from 2000 to 2006 were analyzed. Comparable firms were selected by activity sector, sector and size, sector and ROA, ROA and size, and were averaged with the arithmetic mean, median, and harmonic mean. Twelve multiple valuation methods were analyzed. The empirical results suggest that the selection of comparable firms on the basis of sector and ROA or sector and size are the most accurate criteria. Valuation improves when multiples are averaged using a median relative to arithmetic and harmonic mean. Moreover, in order to test which multiples are most effective to value a company, the main multiples were considered and I analyzed how factors such as sector, size and year bias these outcomes. The results show that the multiples based on cash flows are almost always significant; the multiples based on earnings are most significant in industrial sectors, in particular for small firms with many intangible assets; the multiples on book value appear most effective for non-industrial firms.
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Kornatowska, Bożena, and Jadwiga Sienkiewicz. "Forest ecosystem services – assessment methods." Folia Forestalia Polonica 60, no. 4 (December 1, 2018): 248–60. http://dx.doi.org/10.2478/ffp-2018-0026.
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Abstract Forest ecosystems represent the most important values of natural assets. In economic valuation techniques, to estimate the value of forest ecosystem services, the attention is still focused mainly on their market values, i.e. the value of benefits measured in the economic calculation based, first of all, on the price of timber. The valuation of natural resources is currently supported by considerations of the global policy, in order to strengthen the argumentation justifying the need to incur expenditure related to the protection of biodiversity. There is increasing evidence that biodiversity contributes to forest ecosystem functioning and the provision of ecosystem services. Natural capital of forests can be consumed directly as food, wood and other raw materials or indirectly – by benefitting from purified water and air, safeguarded soils or protected climate. At the same time, forest ecosystems provide us with a range of intangible values – scientific, cultural, religious as well as encompass heritage to pass on to future generations. In the era of increasing pressure on the use of free public goods (natural resources), it is necessary to improve understanding of the role of forests in creating national natural capital, and in enhancing the quality of human life. All things considered, the so called non-market forest ecosystem services may have a much higher value than the profits from the production of timber and raw materials. Needless to say, non-market values of forest ecosystems are of great importance for the quality of human life, and the awareness of this should translate into social behavior in the use of natural resources. This paper reviews the methods to estimate the value of forest ecosystem services in view of recently acknowledged paradigm to move forward from economic production to sustainable human well-being.
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Myasoedov, Aleksey. "An Efficiency Model for Assessing Intellectual Capital." Scientific Research and Development. Socio-Humanitarian Research and Technology 10, no. 1 (April 21, 2021): 84–91. http://dx.doi.org/10.12737/2306-1731-2021-10-1-84-91.
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Today we live in a knowledge society, a society shaped by the information revolution and developed by communication technologies. At the dawn of the new era, the concept of intellectual capital was first used to explain the importance of intellectual resources - such as information, knowledge, and experience - in the modern economy. Today, intellectual capital is a key factor in the company's profitability and has become an essential resource for creating economic wealth. In this environment, intellectual capital and intangible assets are fundamental to success. Intellectual capital consists of intangible assets that, when properly used, become a source of sustainable competitive advantage. To create value, the components of intellectual capital must interact. The assessment of intellectual capital is an important activity for any organization operating in a competitive market, and involves the achievement of intangible assets, but at a lower cost. The interest in measuring intellectual capital was caused by the fact that accounting, as it is currently practiced, has largely lost its information capacity as enterprises have become more and more knowledge-intensive. Traditional valuation methods based on accounting principles, where the value of a company's assets is a fraction of the value, have systematically undervalued companies. The existence of non-financial standards is critical to the company's value creation, as the accounting rules, under constant review, were originally developed for tangible assets, which are a source of wealth in the industrial period. In the literature, the assessment of intellectual capital is considered in different ways, with many approaches developed over time based on research and research, most of which are aimed at improving the performance of an organization, measured by different tools. This article is a synthesis of the most well-known models used to evaluate intellectual capital and its subsequent implementation in the case of Company X. The results obtained confirm the hypothesis that the intellectual capital of a company has a favorable effect on the results of the organization's activities and may indicate future competitiveness.
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Incze, Cynthia Bianka, and Simona Vasilache. "Assessment of the intellectual capital evaluation practices in Romanian IT companies." Proceedings of the International Conference on Business Excellence 13, no. 1 (May 1, 2019): 870–82. http://dx.doi.org/10.2478/picbe-2019-0076.
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Abstract Intellectual capital started to raise and become a focal point of many businesses as they started invest in their own knowledge based activities and recognize its importance. In today’s world can be observed a more dynamic, flexible and growth oriented business environment than ever. Thus, the need for an increased amount of intangible assets in businesses lead to the recognition of the intellectual capital as a competitive advantage and strategic asset. Due to its expanding importance and relevance a significant number of measurement, valuation and evaluation methods were developed. Consensus regarding different methods was not yet reached, but all these methods are designed to help to get an approximation of the reality, thus contributing in short-term and long-term decision making. The aim of the paper is to assess the level of intellectual capital evaluation practices in multinational IT companies and IT SMEs in Romania. The study is questionnaire based and represents a mix of quantitative and qualitative research. Overall, although the challenge of intellectual capital evaluation remains significant, this study leads to the opportunity to identify evaluation patterns, best practices and a short list of useful evaluation indicators for businesses which already are or could be implemented in the near future.
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Simanjuntak, Erni Br, and Gede Harja Wasistha. "VALUATION OF AERONAUTICS AND SPACE TECHNOLOGY AT LAPAN." AFEBI Economic and Finance Review 4, no. 01 (September 12, 2019): 1. http://dx.doi.org/10.47312/aefr.v4i01.212.
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<p><em>New challenges arises for government institutions engaged in research and engineering to continuously innovate and develop technologies that have competitive advantages and provide income for the country through royalty from licensed technology. This research carried out to valuate the aeronautics and space technology. The objective of the study is to develop appropriate intellectual property valuation methods. This research is a case study utilizing sequential mix method which is the combination of quantitative and qualitative research. By using intellectual capital theory, this research-broaden the literatures on the technology valuation in the field of aeronautics and space. This study fills research gap on the existing technology valuation method that is still partially conducted by government research and development. </em></p><p><em>This study discusses the value of intangible assets and licenses from intellectual property that are calculated through three valuation approaches, such as cost-based approach, income-based approach, and market-based approach. The results of the study show that the most appropriate intellectual property valuation method are the cost-based approach and income-based approach.</em></p><p><strong><em>JEL Classification: </em></strong><em>O30, O31, O33</em><strong></strong></p><strong><em>Keywords</em></strong>: <em>Cost Based Approach,</em><em> Income Based Approach, Intellectual Property, Market Based Approach, Sequential Mix Method </em>
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Celenza, Domenico, and Fabrizio Rossi. "The Human Capital Valuation: A Methodological Proposal Among Intellectual Capital Elements." International Journal of Business & Technology 1, no. 2 (May 2013): 15–29. http://dx.doi.org/10.33107/ijbte.2013.1.2.02.
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Intellectual Capital (IC) is an important source of value for companies and in recent years has been the focus of attention for scholars. In a knowledge-based economic scenario the role of human resources has been reallocated over time in the theory of the firm to a higher degree than in the past. The worker's labor and management have been transformed as a result of the growing attention to the intangible assets held by each business system. In knowledge economy, manufacturing industries are investing more and more in the processes of scientific and technological research in order to introduce new knowledge in production systems and ensure its survival by creating business value. The competitive firm invests in new productive ideas through scientific and technological research, the human factor and services. The knowledge worker, at every organizational level, has the knowledge that allows the organization to be competitive and deal with the complexity of the environment by creating intellectual added value. The traditional factors of "old economy" based on physical assets has been replaced, or at least reinforced with the belief that the "new economy" takes it steps mainly through CI. The aim of this paper is to examine the methods of evaluation of human capital and to provide an empirical methodology proposed by using an intersection logic concerning the increase in value of the three components of intellectual capital. In particular, the proposed methodology consists in the construction of an adjusted multiplier based on a simplified version of VAICTM capable of expressing a direct relationship with the Return on Equity (ROE) from the perspective of creating value for shareholders based on the dynamics of the company’s performance compared to that of industry.
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Krupka, Yaroslav, and Volodymyr Okrenets. "Cryptocurrency as an object of accounting and a source of economic benefits." Herald of Ternopil National Economic University, no. 3(97) (October 1, 2020): 238–51. http://dx.doi.org/10.35774/visnyk2020.03.238.
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Introduction. Cryptocurrency and related activities in Ukraine are not regulated by specialized law. Transactions with currency «crupto» are increasingly used in the accounting practice of domestic enterprises. The correctness of an accounting of such transactions is influence on actuality of the financial statements, the completeness of the taxes payment and the amount of income and profits of enterprises. The main aim is to analyze the peculiarities of the formation and movement of cryptocurrency, its recognition as an object of accounting, justification for further accounting evaluation and impact on performance. Methods. Methods observation, comparison, analogy, grouping and classification, abstraction and specification, analysis and synthesis, tabular and structural-logical methods are used. The information base of the research is the scientific achievements of domestic and foreign scientists and specialists, own experience and observations. Results. The definition of cryptocurrency as an object of accounting and a source of economic benefits is considered. The possibilities and advantages of cryptocurrency using in different spheres of economy are determined and systematized. The role and significance of cryptocurrency with the functions of money are compared. The possibility of classifying cryptocurrency as a certain type of enterprise assets in accordance with IAS and UAS (P(S)BO) is analyzed. The peculiarities of valuation and accounting of cryptocurrency as an intangible asset are substantiated. The problems of taxation of cryptocurrency transactions are identified and certain solutions are proposed until the regulatory settlement of this issue.
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Tyutyukina, E. B., and T. N. Sedash. "Analyzing foreign approaches to company investment appeal assessment." Economic Analysis: Theory and Practice 19, no. 10 (October 29, 2020): 1822–39. http://dx.doi.org/10.24891/ea.19.10.1822.
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Subject. The article addresses the concept and basic approaches to assessing the investment appeal of the company. Objectives. The purpose is to review and systematize main approaches that are used to assess investment attractiveness, based on the analysis of foreign sources from international databases of publications, taking into account the current requirements of company's commitment to sustainable development and social responsibility. Methods. The study employs general scientific methods of cognition, as well as the systems and comparative analysis. Results. We consider differences in the definition of company's investment appeal in Russia and abroad, enabling to better understand the theoretical studies of foreign colleagues. Conclusions. In foreign literature, the company's investment attractiveness is assessed, using its financial performance measures, valuations, the impact of intangible assets on investment attractiveness, taking into account its compliance with the modern technological mode and commitment to principles of sustainable development and social responsibility. The adherence to these principles increases the investment appeal of any company and gives it an undeniable competitive edge.
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Chrobak, Wojciech. "Valuation of Intangible Assets." Zeszyty Naukowe Uniwersytetu Szczecińskiego Finanse Rynki Finansowe Ubezpieczenia 82 (2016): 347–59. http://dx.doi.org/10.18276/frfu.2016.4.82/2-30.
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Choi, Won W., Sung S. Kwon, and Gerald J. Lobo. "Market Valuation of Intangible Assets." Journal of Business Research 49, no. 1 (July 2000): 35–45. http://dx.doi.org/10.1016/s0148-2963(98)00121-0.
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Fomina, O. V., O. O. Avhustоva, and I. K. Shushakova. "Assessing the Intangible Assets." Business Inform 4, no. 519 (2021): 154–60. http://dx.doi.org/10.32983/2222-4459-2021-4-154-160.
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The article is concerned with the issues of assessing the intellectual property rights as part of intangible assets of enterprises. The article is aimed at substantiating the theoretical principles and improving methodological approaches to the assessment of intangible assets in the process of formation of the value of enterprise. The normative-legal regulation of valuation of intangible assets in order to determine the value of intangible assets of enterprises in monetary terms for the purposes of accounting and in the field of professional valuation activity is studied. The interrelationship of approaches of independent professional estimation and accounting valuation in order to apply it to the needs of accountance is specified. Described are the cost (based on determining the cost of expenses, necessary for the reproduction or substitution of the valuation object), profit (used to determine the valuation of intellectual property rights, based on the application of assessing procedures for transferring the expected profit to the value of the assessed object) and comparative (determines the market value of an intangible asset, when there is sufficient reliable information on prices in the market of such objects and the terms of contracts for the disposal of property rights to such objects) approaches to the valuation of intangible assets. The formulas for computing the value of intangible assets based on the cost approach are provided. The assessment of intangible assets is carried out according to the above specified formulas of the cost approach on the example of a patent for invention. It is determined that in the absence of an active market to determine the fair value of intangible assets, it is advisable to apply the cost approach, namely: the method of direct reproduction.
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Kohlbeck, Mark, and Terry D. Warfield. "Unrecorded Intangible Assets: Abnormal Earnings and Valuation." Accounting Horizons 21, no. 1 (March 1, 2007): 23–41. http://dx.doi.org/10.2308/acch.2007.21.1.23.
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We use the unique banking industry setting to demonstrate the impact of unrecorded intangible assets on abnormal earnings and equity valuation in the context of the residual income valuation model. We show that the persistence of bank abnormal earnings and, consequently, the pricing multiples on bank abnormal earnings, vary with the level of unrecorded intangible assets. Our evidence suggests that unrecorded intangible assets are important in understanding the persistence and valuation of abnormal earnings in the banking industry. The analysis framework introduced in this paper could also be used to examine the valuation impacts of intangible assets in other industries.
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White, Fred C. "Valuation of Intangible Capital in Agriculture." Journal of Agricultural and Applied Economics 27, no. 2 (December 1995): 437–45. http://dx.doi.org/10.1017/s1074070800028480.
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AbstractThis study examines the valuation of research as intangible capital in agriculture using Tobin's q theory. The market value of public research capital is estimated to be 8.6 times higher than conventional assets. Private research capital is valued 5.2 times higher than conventional assets. The estimated valuation multiplier for all farm assets dropped 1/3 over the last decade. In recent years the valuation multiplier has dropped below a dollar, which indicates the market is undervaluing farm assets.
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Kulil, Vladimír. "Intangible Assets and Goodwill Valuation in the European Union." INTERNATIONAL JOURNAL OF INNOVATION AND ECONOMIC DEVELOPMENT 5, no. 3 (2019): 25–30. http://dx.doi.org/10.18775/ijied.1849-7551-7020.2015.53.2003.
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European valuation standards TEGoVA have conception for valuation of intangible assets and they formed to conform to International valuation standards (IVS) also to reach worldwide consensus in best practices in valuation process. The process of valuation of intangible influences was also surveyed in China, Hong Kong, USA, Canada, Japan, Germany, UK, Poland, Russia and overall in the Europe. Situation in mentioned locations is similar, valuation of intangible influences has not been determined by a concrete list of items and there has not been established concrete clear process. The subject matter of this paper is a proposal for a method of valuation of intangible effects that will impact assets prices. It deals with proposed procedures for valuation of intangible assets. Special effects are in particular name, historical value, design, quality of layout, security aspects, accessibility, and conflict groups of inhabitants in or near the property, location, provenience and other.
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Rodionov, Dmitrii, Olesya Perepechko, and Olga Nadezhina. "Determining Economic Security of a Business Based on Valuation of Intangible Assets according to the International Valuation Standards (IVS)." Risks 8, no. 4 (October 20, 2020): 110. http://dx.doi.org/10.3390/risks8040110.
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This work considered the economic security of an enterprise with regard to the valuation of intangible assets according to the International Valuation Standards (IVS). This study is essential due to a growing number of companies with intangible assets (trademarks, patents, know-how, etc.) as their main value. This study included analysis of the impact created by the value of intangible assets and intellectual property on company capitalization and economic security plus a regression model. An algorithm was developed to determine the economic security of a business based on the valuation of intangible assets according to the IVS. The suggested algorithm can allow a company to manage its intangible assets effectively using the IVS, which, in turn, will provide the required level of economic security for further development and achievement of strategic goals by the business entity.
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Lemishovska, O., and I. Mazur. "Theoretical and methodological principles for accounting reflecton of goodwill: dialectics of development and directions of improvement." Economics, Entrepreneurship, Management 8, no. 1 (July 2021): 59–68. http://dx.doi.org/10.23939/eem2021.01.059.
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The rapid development of market relations, Ukraine's integration into the world economic space, encourage companies, in order to achieve competitive advantages, to explore new ways of capitalization. At the same time, the operations of purchase, sale, merger or acquisition of companies, the value of which directly depends on intellectual capital, are becoming more common. The difference in the assessment of market and book value of intellectual capital leads to a special economic and accounting category - goodwill.Despite the prospects of using such a component of assets as goodwill, today there are still a number of theoretical and practical problems, for example: problem of unambiguous understanding and interpretation of the essence of goodwill, methods of its valuation, and the practice of reflecting it in accounting and reporting by domestic enterprises. The study addresses issues related to establishing the nature of goodwill, its content as an intangible economic resource of the enterprise and the component of the value of capital and the problem object of accounting.The purpose of the work is to reveal the economic essence of goodwill as an object of accounting, to conduct a critical analysis of the current standardization of goodwill accounting, to generalize and systematize of existing problems in the formation of accounting information about this object. The task of this study is to formulate separate proposals for improving methodological approaches to accounting for goodwill, which are obtained on the basis of examined legislative and research sources of information. The scientific novelty lies in the substantiation of the accounting category of goodwill as a subjective value and an objectively existing resource, which should be actually reflected in accounting and reporting.
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Jakoubek, Jiří. "Arm's Length Principle in Intangible Assets Valuation." Český finanční a účetní časopis 2013, no. 4 (December 1, 2013): 70–83. http://dx.doi.org/10.18267/j.cfuc.353.
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Reilly, Robert F., and James R. Rabe. "The Valuation of Health Care Intangible Assets." Health Care Management Review 22, no. 2 (1997): 55–64. http://dx.doi.org/10.1097/00004010-199702220-00007.
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Reilly, Robert F., and James R. Rabe. "The Valuation of Health Care Intangible Assets." Health Care Management Review 22, no. 2 (1997): 55–64. http://dx.doi.org/10.1097/00004010-199704000-00007.
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Reilly, Robert F., and James R. Rabe. "The Valuation of Health Care Intangible Assets." Health Care Management Review 22, no. 2 (1997): 55–64. http://dx.doi.org/10.1097/00004010-199721000-00007.
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Minh Quoc Binh, Quan, Nguyen Minh Ha, and Ngo Thi Huyen Trang. "Application of an intangible asset valuation model using panel data for listed enterprises in Vietnam." Investment Management and Financial Innovations 17, no. 1 (April 3, 2020): 304–16. http://dx.doi.org/10.21511/imfi.17(1).2020.26.
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Intangible assets play an important role in increasing the value of companies. The performance of companies increasingly depends on ideas, information, and professional services rather than tangible assets. The question of how to accurately measure intangible assets remains a challenge for many scientists. This study aims to measure intangible assets of 396 companies listed on Vietnam’s stock market between 2010 and 2014 using the panel data technique by Yamayuchi (2014). The estimation shows that intangible assets make up a large share of total assets of companies. In addition, construction, steel, building materials, mining, and food are sectors with high intangible assets in Vietnam. The study also finds a positive impact of intangible assets on improving company performance. The findings demonstrate the importance of investing in intangible assets, such as R&amp;D, technology, advertising, and human resources, to increase the value of a company in the future.
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Zhang, Ivy Xiying, and Yong Zhang. "Accounting Discretion and Purchase Price Allocation After Acquisitions." Journal of Accounting, Auditing & Finance 32, no. 2 (July 27, 2016): 241–70. http://dx.doi.org/10.1177/0148558x15598693.
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The recent movement in standards setting toward fair-value-based accounting beyond financial assets and liabilities calls for more empirical evidence on fair-value measurement, especially that of intangible assets. This article studies the initial valuation of goodwill and identifiable intangible assets after acquisitions. We find that the allocation of purchase price to goodwill and identifiable intangible assets is related to the economic determinants of the valuation. However, it is also significantly affected by managerial incentives arising from the differential treatments of goodwill and identifiable intangible assets under Statement of Financial Accounting Standards (SFAS) 142. The same managerial discretions are not exhibited in the purchase price allocation prior to SFAS 142, when goodwill and other intangibles are both amortized. These findings suggest that unverifiable fair value measures are associated with the underlying economics but also deviate from the true values in the presence of management reporting incentives. Further analysis suggests that external appraisers constrain managerial discretion in intangible asset valuation to an extent but do not completely eliminate it.
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Foltys, Joachim, and Marzena Strojek-Filus. "SELECTED PROBLEMS OF MANAGING INTANGIBLE ASSETS IN A MODERN ENTERPRISE IN THE ASPECT OF ACCOUNTING." Zeszyty Naukowe Wyższej Szkoły Humanitas Zarządzanie 20, no. 4 (December 31, 2019): 147–70. http://dx.doi.org/10.5604/01.3001.0014.0314.
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The paper presents the main problems related to the management of intangible assets, focusing on their identification, valuation and financial statements’ presentation. The process approach in managing this part of the property was also presented. It has been shown that modern enterprises often do not present the most important intangible assets in respect of their market position because of the accounting law regulations. Particularly this problem affects small family enterprises. In this paper solutions have been proposed for the valuation of intangible assets in these types of units.
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Voyko, D. V., and A. V. Voyko. "INTANGIBLE ASSETS: ISSUES OF ACCOUNTING AND MANAGEMENT IN THE CONTEXT OF DIGITALIZATION OF THE ECONOMY." Vestnik Universiteta, no. 9 (October 26, 2019): 112–17. http://dx.doi.org/10.26425/1816-4277-2019-9-112-117.
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The issues of classification and approaches to management of intangible assets of companies have been considered. Main features of intangible assets have been examined, as well as normative regulation of financial accounting of them. The important point of intangible assets management is their classification and distribution to homogeneous groups, that allows us create and clarify intangibles’ management policy in terms of digitalization. In addition, the authors have paid attention in the article to the issues of intangible assets valuation. Basic stages of intangible`s assessment have been analyzed, as well as current problems of estimation of true value of intangible assets.