Abstract
The Impact of Intangible Assets on the Company’s Market Value
Highlights
Intangible assets play an important role in maintaining the competitive advantage of a company
We analyzed the value of the intangible' assets’ recorded in firms' books according to international accounting standards and we focused on information about additional intangible resources – as recorded expenditure into annual reports
The results provide empirical evidence that the value of intangible assets is divided into two kinds of value, financial and nonfinancial information, which have different effects on the market value of companies
Summary
Intangible assets play an important role in maintaining the competitive advantage of a company. The value of intangible assets may have a different effect on the market value of the entity, depending on the value of the publicly disclosed and undisclosed information, on the fair value of the property and on the reaction of market participants to that information. Both researchers and investors agree that intangible assets in the knowledge economy are a significant factor in increasing competitive advantage and shareholder value, which undoubtedly affects a company's market value (Gamayuni, 2015)
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