Importance Of Intangible Assets Research Articles

FINANCIAL MARKET’S ROLE IN DETERMINING THE VALUE OF INTERNATIONAL BUSINESS INTANGIBLE ASSETS

As humanity moves into the era of digital technologies and the knowledge economy, the importance of intangible assets in the global economy and international business has been increasingly recognised. Amid the forced virtual communication resulting from the lingering effects of the COVID-19 pandemic, as well as the social conflicts and cyber-attacks associated with Russia's hybrid war in Ukraine, the value of intangible assets such as reputation, investor and customer loyalty, consumer data, branding, intellectual expertise and copyrights has taken on new importance and relevance. The purpose of the research is to improve the conceptual and methodological foundations for determining the nature and value of intangible assets of leading international companies, in particular, their undisclosed components, based on the use of financial market data. Research methodology. The study is based on systems analysis, analysis and synthesis, statistical and graphical methods. These methods were used primarily to identify the structure of the intangible assets of leading international companies, highlighting the interrelationships between the formation of the gap between the external (financial market) and internal (balance sheet) value of companies' shares and the value of their intangible assets. The publication supports the assumption that the identified gap between the market capitalisation and shareholder's equity of an individual company represents the undisclosed part of intangible assets that is not available in the company's official statements. This gap includes such components as reputation, trust and loyalty of customers and investors, brand strength, etc. Given the dynamic development of the international business sphere, the critical importance of flexibility, speed of decision-making, and the need for investors to obtain the most up-to-date information about the company's potential, including the value of its intangible assets, the proposed approach can serve as an effective decision-making tool and an alternative means of determining the real value of a company's intangible assets.

Knowledge Management: The Case of Xerox

Recently, the concept of knowledge has been universally recognized as a critical source of achieving competitive advantage for organizations and as an extremely important intangible asset. In today's complex, ever-changing and competitive environment, organizations are challenged in order to successfully manage a wide range of fluctuations, to continuously innovate and deliver value to their customers. To achieve all of the above, they must be open to new ideas and develop a clear understanding of the ways in which knowledge is created, transferred and applied within organizations. Knowledge has been approached as the understanding of a subject or phenomenon, on a theoretical or practical basis. Knowledge management (KM) has been frequently used in recent years as a scientific term, while it has been applied to a range of activity sectors and disciplines. The purpose of KM is to manage, create and enhance the knowledge and intellectual assets of organizations. The effective use of KM can provide a number of benefits to organizations, such as enhancing the quality of services provided, increasing the response time developing innovations, offering above the norm customer value etc. The development of organizational knowledge must be sufficient, so that it can diffuse within the organization and applied where it is needed. Knowledge is increasingly recognized as a critical, strategic resource of organizations. In this paper, secondary data were utilized in order to adequately fulfill the set research objectives developed by the researcher, based on the critical evaluation of existing knowledge. Secondary data was used, while the case study research technique was utilized to develop valuable lessons for the organizations. The organization studied (XEROX) is a rare case of successful implementation of KM and was chosen for this reason. The research objective was to conceptually clarify the concept of KM, link it to organizational performance and provide suggestions in relation to strengthening KM and consolidating organizational processes of knowledge development and transfer.

Excessive financialization and “Original Sin Theory”: Redemption from corporate reputation

Empirical studies suggest that excessive financialization that firms invest in a high proportion of financial assets will have a negative impact on firm value. This goes against the capital asset pricing theory, which suggests that high risk can produce high expected return. However, there is no explanation for the negative effect. We have empirically found that financial investments can yield higher expected returns compared with physical investments at any level, which aligns with the capital asset pricing theory. However, excessive financialization can harm a company’s reputation, which can be measured through product and service competitiveness, research and development output, and corporate social responsibility. As corporate reputation is an important intangible asset, excessive financialization has a negative impact on the overall firm value. Furthermore, excessive financialization has a greater negative impact on corporate reputation for firms with high financial leverage and sensitivity to economic policy uncertainty.

See who I know! Addressing the liabilities of outsidership through status signaling

Status is an important intangible asset, yet when firms enter new countries, they lack standing in new social hierarchies as outsiders. Conventional wisdom suggests embeddedness in host-country networks can alleviate newcomers’ liability of outsidership. We complement this with insights from status signaling theory: Newcomers in host countries can address their liability of outsidership through the visual display of social affiliations. We utilize a novel visual qualitative research approach that analyzes annual report photographs of an emerging-market family business, depicting the firm’s leaders with high-status alters. Complementing the international business literature, which emphasizes strong ties to host-country business partners, we identify three signaling mechanisms that are more circuitous: bypass (host-country affiliations beyond the firm’s industry), allusion (global affiliations beyond the host country and industry, often celebrities), and aspiration (global industry affiliations). We also suggest that such diffuse status signaling mechanisms may be especially salient in emerging-market family firms investing in developed markets, which are accorded low status in many developed markets. These firms feature firm/owner identity overlaps, long leader tenures, and a tendency to build reputation through prosocial behavior, facilitating the activation of status signaling tactics through ephemeral affiliations with high-status actors situated in world society.

브랜드 스토리텔링에 관한 고찰 및 새로운 연구 방향

Nowadays, brand has become the most important intangible asset of a company, and the competition in the market has become a competition of brands. Narrative is considered to be an effective means of branding. Storytelling is an effective way for companies to communicate with consumers. Since stories do not require complex information processing by consumers, the content conveyed in the form of stories makes it easier for consumers to understand and be persuaded. Through storytelling, companies communicate their values to consumers, allowing them to empathize with them and build relationships with them. Brand storytelling has become one of the hot topics in the marketing field. This study collates and analyzes the research results of brand storytelling from five aspects: definition, types, components, roles, and research trends, and proposes suggestions for future research directions in view of the shortcomings of current research.

Intellectual capital and sustainable startup performance: A bibliometric analysis

Intellectual capital (IC) and sustainable startup performance (SP) are the two pillars required for the survival of ventures. Besides, the competitiveness of new ventures is ensured by the importance of intangible assets within the firm as well as strategies implemented by the startup founders. This study aims to map the conceptual structure of research on intellectual capital and sustainable startup performance conducted between 2002 and 2021 using bibliometric citation analysis. For that purpose, 292 papers from the Scopus database are scrutinized further to determine the publication activities of the concerned area. Vosviewer and Excel software were used to analyze the data. It is found that the publication activities of IC and SP are a relatively new concept that emerged in 2002 and is showing a favorable trend. The study discovered that most intellectual capital studies focus on sustainable startup performance, innovative capabilities, and knowledge management practices.

Legal protection of intellectual property in the oil and gas industry

The early twenty-first century has witnessed a boom in the oil and natural gas production. This boom raises various questions that legal scholars have begun to explore, including questions of technological advancements in the energy sector and their commercialization and protection. This research paper aims to investigate the current state of legal protection of intellectual property rights of companies operating in the oil and gas industry. This paper contains a brief description of the applicable intellectual property rights and provides a comparative legal analysis of the factors influencing the choice of the form of protection of such rights. Comprehensive legal research establishes the strengthening of the role and importance of intangible assets in the energy sector and determines the predominant role of patents, trade secrets and copyrights as the main forms of protection for inventions, technology and information from unauthorized use and unfair competition. This paper substantiates the need for the companies to implement innovative strategies to their portfolio of intangible assets aimed at its diversification and commercialization in the face of growing competition and strong volatility in energy prices. Keywords: intellectual property; patent; trade secret; innovations; oil and gas industry.

Intangible Outcomes

Human life – and therefore the scope of human goals – includes dimensions that are both visible and countable (e.g., money, weight, attendance or tested proficiency) as well the invisible and intangible (e.g., hope, trust, faith, love, joy, peace). Furthermore, the visible and tangible aspects of life are intrinsically connected to and dependent on the invisible and intangible aspects - much as the visible branches and fruit of a tree are connected to and dependent on an underlying and hidden root structure. While the importance of intangibles can be understood intuitively, it can also be illustrated: 73% of all chartable giving in the U.S. goes to organizations that are explicitly religious, and 118,280 nonprofit organizations are so strongly identified with the intangibles of hope, trust, faith, love, joy, peace that they included one of these words in their name. While the intangible realities of human life are explicitly relevant to a large proportion of organizations we seek to serve, it is essentially ignored by current evaluation practice: only 10 articles within the American Journal of Evaluation, New Directions in Evaluation and Journal of Multidisciplinary Evaluation included even minimal reference to the most common intangibles. New evaluation theory and methodology to address this gap will be needed, and cross-disciplinary exploration with psychology, philosophy and sociology should guide this development. In the meantime, useful questions about intangibles can be drawn from the AEA guiding principles and addressing these can provide a useful starting point for evaluators seeking to consider intangibles within their evaluations.

Cross-dimensional measures of asset lightness and fee orientation in lodging groups

This study proposes cross-dimensional measures of the degree of implementation of the lodging industry’s asset-light & fee-oriented (ALFO) strategy. We apply a common factor analysis to measure the degree of implemented ALFO strategy on a sample of 14 lodging companies over the period 2001–2021. The analysis confirms that there is no one-size-fits-all approach and that companies position themselves distinctively on the two dimensions. The fee-oriented strategy has strengthened continuously since 2005, while that of the asset-light strategy has increased rapidly between 2001 and 2005, but its evolution has been more erratic since then. Our results shed light on the importance of intangibles in the asset-light strategy and the operationalisation of the construct. This study also contributes to the debate on the financial impact of the ALFO strategy. We show that AL and FO positively affect financial performance and firm value and that by combining them, the effect doubles.

HUMAN RESOURCE ACCOUNTING AND PROFITABILITY OF LISTED DEPOSITMONEY BANKS IN NIGERIA

One of a company's most important intangible assets is its human capital. Because a company’ssuccess or failure depends on how well its few physical resources are exploited by its human resources, a company’s failure to account for human resources and the changes that occur inside may present a misleading image of its performance. due to inconsistent in the literature, the study examine the relationship between human resource accounting and financial performance of deposit money banks in Nigeria. The study used ex-postfacto research design as it entails the use of annual reports and accounts of listed Deposit Money Banks in the Nigerian Exchange Group. Secondary data were sourced from the banks’ financial report for the period of seven (7) years from 2015 to 2021. The dependent variable is Return on Assetsuse as a proxy of profitability, the independent variables are: Staff Cost, Directors’ Remunerations use as the proxy of human resource accounting. The study control for age and size.The descriptive statistics, correlation and regression statistical method of analysis are employedto test the nature, relationship and effect among the variables using Statistical Software (STATA v14). The result shows that HRA has significant effect on the financial performance of listed deposit money banks in Nigeria. Thus, upon recommendation, workers should be retain to avoidunemployment, and company management should endeavor to send workers on training and development to accommodate the structural changes.

The Components of Reputation: Evaluation of Communication Professional’s Online Reputation Approaches

Altı boyuta yönelik kurum ve markaların paydaşlarının algısında ve eyleminde oluşan ve şirketlerin en önemli soyut varlığı olan itibarın, dijital platformlarda yönetilmesi hız, bilginin kontrolü gibi zorluklar getirirken halkla ilişkiler alanında araştırma refleksini geliştiren, doğru stratejilerle yönetildiğinde olumlu yönde kazanımlar sağlayan bir iletişim pratiğidir. Bu doğrultuda bu çalışmanın amacı itibarın boyutlarının Türkiye’deki iletişim profesyonelleri tarafından söz konusu online itibar yönetimi olduğunda nasıl değerlendirildiğini ve online platformlarda itibar yönetiminin gerçekleşmesinde iletişim pratiklerine nasıl değişimler getirdiğinin anlaşılmasıdır. Bu amaçla İletişim Danışmanlığı Şirketleri Derneği (İDA) ve Türkiye Halkla İlişkiler Derneği (TÜHİD) yapılarına kayıtlı 12 iletişim profesyoneline yargısal örnekleme yöntemi ulaşılarak, derinlemesine görüşmeler gerçekleştirilmiş ve bu görüşmelerden elde edilen veriler Harris ve Fombrun’un alana kazandırdığı itibar yaklaşımında ele aldığı unsurlar altında anlatı analiz tekniği ile aktarılmıştır. Çalışmanın bulgularına göre kriz iletişimi, kontrol edilemeyen bilginin yarattığı gündemin yönetimi online itibar yönetimi alanında zorluklar olarak öne çıkarken, bu yeni iletişim teknolojilerinin getirdiği avantajlarla halkla ilişkilerin birinci adımı olan araştırma ve sonuncu adımı olan ölçümleme reflekslerini güçlendirdiği anlaşılmıştır. Çalışma, itibarın unsurlarının online iletişim pratikleri açısından yapılacak çalışmalara Türkiye’deki bakış açısının aktarması açısından katkıda bulunmaktadır.

Intangible Assets and Their Impact on Economic Performance

The paper introduces the topic of intangible assets. It describes the evolution of the concept of intangible assets and the role of these assets in today’s economy. The importance of intangible assets is highlighted through many quantitative estimates of the impact that intangible assets have on economic performance. After reviewing research carried out mainly in the Western economies, the paper concentrates on the research covering the size and impact of intangible investment in the Central and Eastern European (CEE) and Balkan countries. Moreover, the focus shifts to the firm level where the management of intangible assets faces several challenges that range from identification and valuation of intangible assets to leadership of knowledge-intensive firms. Progress at all levels is to some extent hampered by the lack of adequate data, which should be addressed by establishing a standard definition and ensuring more data on intangibles within financial reporting. Bold steps should therefore be made towards better measurement of intangible investment and better use of this source of productivity growth.

The importance of intangible assets in regional economic growth: a growth accounting approach.

Spain is one of the few countries in the world that has information on investment in intangible assets with a regional breakdown, so providing evidence of its importance as a factor in regional growth is the main value added of this paper. Series of capital stock in intangible assets are constructed by regions, which incorporate not only those the national accounts consider as investments and are therefore included in gross value added (GVA), but also the intangible assets not included in GVA, which the recent literature understand to be an important source of economic growth. Using the growth accounting approach, the results show that intangible assets explain 14.3% of Spain’s GVA growth, of which 9.4 pp correspond to the assets included in GVA (software, R&D and intellectual property rights) and 4.9 pp account for the rest (expenditure on design, advertising, market research, firm-provided worker training and improvements to companies’ organizational structure). Notable differences are also seen across the country, with investment in intangibles explaining up to 20% of economic growth in some regions. The importance of the contribution from these intangible assets highlights the need for economic policy measures (including regional policies) that boost investment in intangible assets and improve conditions of access to financing.

MANAGEMENT OF INTELLECTUAL CAPITAL AS AN INGREDIENT OF INTANGIBLE ASSETS IN HOTEL INDUSTRY

In the period of accelerated development of the knowledge-based economy, intangible assets are increasingly viewed as a critical element of the growth of almost any existing business sphere. Despite the fact that intangible assets cannot be seen or touched, they nonetheless have value and are critical to a company’s success and growth. Intangibles as a whole and intellectual capital in particular can also add to the value of a company’s equity. As a result, intangible asset maintenance and management might be the difference between success and failure. Hence, identifying and developing a solid strategy to generate intangible assets and reduce risks is crucial. The paper provides an observational study of the hotel industry’s development alongside with the analysis of the difficulties in intangible asset management and intellectual capital in this sphere. Based on past internship experience as a hotel administrator, the thesis paper explores the value and importance of intangible assets in the industry.

Town design and town communications in the process of image creation of Wroclaw and Malaga

Creating a positive image is one of the most important activities undertaken not only by enterprises, but also by territorial units. Cities and regions can see the need to create and maintain a good image as an important factor of competitive advantage facilitating opportunities for dynamic development. Nowadays, the most active in this respect are large urban centers which are managed in a creative way, and a good image, which is their most important intangible asset, definitely facilitates competition in increasingly demanding markets. The paper aims to present activities within town design and town communications, which, apart from town behavior, belong to the basic components of the process of creating the image of modern cities. One of the qualitative methods, which is a case study, was applied due to the possibility of making comprehensive comparisons based on the information identified. The examples of two culturally distant cities were used, namely the Polish city of Wroclaw and the Spanish city of Malaga, which, in many areas of creating their image, carry out similar activities. In both cities, the commercialization of city symbols is visible at the expense of historical and cultural aspects. The communication with stakeholders is similar, in which interactive techniques dominate, and particular activity manifests itself in social media and in the development of urban applications that perform both information and entertainment functions.

Studi Literatur Kritis Risiko Reputasi pada Manajemen Risiko Perbankan Syariah

Reputation is the most important intangible asset owned by a bank. Reputation reflects the success of the bank in meeting the expectations of various stakeholders. Creating reputation is a key element of organizational strategy, especially banking. Any important issues related to the operations of Islamic banks, whether in terms of non-compliance with Sharia financial products or customer complaints, can damage the reputation of Sharia banks. This study aims to analyze the determinants of reputation risk and its impact on Islamic banking and how to implement reputation risk management in Islamic banking. This study uses a literature study approach to answer the research objectives, while the analytical technique used in this study is content analysis. Thus, Islamic banks are expected to pay more attention to reputation risk management.

МЕХАНІЗМИ РЕГУЛЮВАННЯ ОБМІНУ ДАНИМИ

The article analyzes the foreign and domestic practice of regulating the exchange and use of data as an important intangible asset, which is a tool for managing economic and social processes. It is determined that the use of data becomes especially relevant in crisis situations, when in order to reduce the level of uncertainty and the impact of risks it is necessary to make urgent decisions in the interests of society as a whole, taking into account many internal and external factors. It is classified data by sources of origin, nature of use and impact on economic and social processes, conditions and mechanisms for effective data exchange between public and private sectors, as well as cross-border data exchange. The objective need to strengthen the requirements for mechanisms for regulating the exchange and use of data in order to increase management capacity, efficiency of economic activity and the functioning of society has been proved. The main tasks of regulating the circulation and use of data are identified, the directions of improving the existing organizational and legal forms of interaction between the public and private sectors in the field of data, as well as the mechanisms of the data market. The criteria for assessing the effectiveness of open data portals are determined, the directions of improvement of the state open data portal of Ukraine are substantiated. The basic scheme of organization of public-private partnership in the field of data exchange and use is developed, the necessity of legislative regulation of spheres of responsibility and establishment of clear rules of interaction of partners on maintenance of fair and safe conditions of data exchange is proved. In order to increase the social value of data, the main provisions and directions of practical implementation of the concept of «data of general interest» are revealed, the mechanisms of voluntary and mandatory exchange of them are identified. It is proved that such data exchange is of paramount importance for national security, combating epidemics and natural disasters, protecting the environment, meeting public needs and accelerating the socio-economic development of the country as a whole.

Trade secret as a factor in ensuring national economic security: Chinese practice (part 1)

The paper examines the growing importance of intangible assets, trade secrets, its global economic and innovative impact and increasing threats of abduction. The concept of national economic security, definition of the system of economic security is given. The economic significance of the institute of trade secrets, sources of legal regulation, the role of the revised Law on Unfair Competition of the People’s Republic of China, features of protection of computer software and technology as trade secrets, licensing, calculation of financial compensation are considered. Judicial interpretation for handling civil suits for theft of trade secrets, guidance for companies on taking appropriate measures to maintain secrecy are provided. An analysis of the conduct of cases on trade secrets in China, the conduct of judicial practice, is given.

Стратегічне управління промисловими підприємствами в контексті цифрової трансформації: науково-теоретичний підхід

The purpose of the article is to form a scientific and theoretical approach to the strategic management of industrial enterprises in the context of digital transformation in the current turbulent conditions of economic management. The article defines that in the turbulent conditions of the present day, digital technologies are one of the main drivers of growth and technological development of the world economy, economies of countries, and industrial enterprises. The introduction of digital technologies contributes to increasing the competitiveness of various sectors of the economy, creating new business opportunities in terms of connecting to digital global value chains, the emergence of new markets and segments, as well as the accelerated introduction of new digital goods into society. The search, selection, development and adaptation of methods for shaping the strategy of an industrial enterprise in the context of digital transformation is very relevant and in demand, and digital strategy tools are the most important intangible asset of an industrial enterprise. As a result of the study, it is proved that digital transformation contributes to the development of new business models, allows to join forces to create innovation, invest, search for employees, partners, resources and markets. Digital technologies can play a key role in training employees, sharing knowledge, implementing innovative ideas, as well as in the development of socioeconomic spheres of society. An important role in the process of strategic management of industrial enterprises in the context of digital transformation is played by: politics, legal norms, traditions and culture, the achieved level of economic development, the level of education, its own technological power and many other factors.

МЕТОДИЧЕСКИЕ РЕКОМЕНДАЦИИ ПО РАЗВИТИЮ СИСТЕМЫ НЕМАТЕРИАЛЬ-НЫХ АКТИВОВ КАК ОСНОВЫ ОБЕСПЕ-ЧЕНИЯ УСТОЙЧИВОСТИ И СТРАТЕГИЧЕСКОГО РОСТА МСП В КРИЗИСНЫХ УСЛОВИЯХ

Despite the fact that not all intangible assets are represented and valued by small and medium-sized enterprises, their connection with economic and financial decisions within the framework of sustainability and strategic growth in crisis conditions is important, since it allows achieving success (profit) now and in the future. The article presents qualitative indicators characterizing a small business unit, the essence and characteristics of in-tangible assets. The directions of develop-ment of the system of intangible assets as the basis for ensuring sustainability and stra-tegic growth, based on the relationship of four components: financial, customer, inter-nal processes, innovation and training, are proposed. The purpose of the article is to draw attention to the existence and im-portance of intangible assets in small busi-ness.