Abstract
Financial reporting of intangible assets – evidence on information and communication companies in Czech Republic
Highlights
Most advanced economies in the world are gradually moving towards the knowledge economy
From the total of 818 companies embodied in the research sample, 667 published at least one financial statement
The share is, at first, rising and at the end of the period the number is decreasing. This may be due to the incapability of the companies publishing their financial statements in time
Summary
Most advanced economies in the world are gradually moving towards the knowledge economy. Industry is at the forefront of the so-called Industry 4.0 concept that is based primarily on automation, robotics and digitization of the economy. A necessary prerequisite for successful operation of this concept is knowledge (Sedlacek, 2014). According to (Clausen, 2016), changes in market capitalization are positively related to R&D expenditures. Many companies spend huge amounts of capital on intangible investment, which is mainly developed within a company. This shift highlights the necessity and the importance of measuring the contribution of intangible assets to overall welfare (Nakamura, 2008)
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