Intangible Information Research Articles

Study of the intellectual capital in the academic area of a higher education institution, in the state of Tabasco, for the development of an improvement proposal

At present, intellectual capital is the most important resource for all organizations. Therefore, in the present research work the integral study will be carried out in the academic area of an institution of higher secondary education, in the state of Tabasco. It is proposed to design an instrument, which is considered a hybrid as it is formed by intangible information that is interpreted by the researcher and translated through a Likert scale to a quantitative data that allows to locate the study factor in a clear way to determine its degree of influence in the generation of intellectual capital. In addition, these factors are taken from experts in the study context whose experience allows them to give their opinion. This information is included in a double entry table that allows to find the key factors of incidence in the subject of study. The study is duly justified because it allows us to find the key factors that have the development of human resources to intellectual capital, which greatly benefits the context of study, in addition that an integral evaluation instrument will be provided since it covers tangible and intangible aspects in the measureme.

The Usefulness of Tangible and Intangible Information before and after IFRS Adoption

The Usefulness of Tangible and Intangible Information before and after IFRS Adoption

Elaboración de un instrumento para medir el capital intelectual en una institución de educación media superior, en el estado de Tabasco

The study of intellectual capital is of the utmost importance for current organizations. Therefore, in the present research work the integral study will be carried out in the academic area of an institution of higher secondary education, in the state of Tabasco, for the development of a measuring instrument. It is proposed to design an instrument, which is considered a hybrid as it is formed by intangible information that is interpreted by the researcher and translated through a Likert scale to a quantitative data that allows to locate the study factor in a clear way to determine its degree of influence in the generation of intellectual capital. In addition, these factors are taken from experts in the study context whose experience allows them to give their opinion. This information is included in a double entry table that allows to find the key factors of incidence in the subject of study. Once the factors have been identified, a development proposal that allows the integral improvement of the institution of higher secondary education in the academic area will be analyzed and made, in order to contribute to Intellectual Capital.

Managing Intangible Cultural Heritage Information Resources in Sahitya Academy Library, New Delhi: A Case Study

Managing Intangible Cultural Heritage Information Resources in Sahitya Academy Library, New Delhi: A Case Study

MOORA under Pythagorean Fuzzy Set for Multiple Criteria Decision Making

The multiobjective optimization on the basis of ratio analysis (MOORA) method captures diverse features such as the criteria and alternatives of appraising a multiple criteria decision-making (MCDM) problem. At the same time, the multiple criteria problem includes a set of decision makers with diverse expertise and preferences. In fact, the literature lists numerous approaches to aid in this problematic task of choosing the best alternative. Nevertheless, in the MCDM field, there is a challenge regarding intangible information which is commonly involved in multiple criteria decision-making problem; hence, it is substantial in order to advance beyond the research related to this field. Thus, the objective of this paper is to present a fused method between multiobjective optimization on the basis of ratio analysis and Pythagorean fuzzy sets for the choice of an alternative. Besides, multiobjective optimization on the basis of ratio analysis is utilized to choose the best alternatives. Finally, two decision-making problems are applied to illustrate the feasibility and practicality of the proposed method.

A comparative assessment of rainfall–runoff modelling against regional flow duration curves for ungauged catchments

Abstract. Rainfall–runoff modelling has long been a special subject in hydrological sciences, but identifying behavioural parameters in ungauged catchments is still challenging. In this study, we comparatively evaluated the performance of the local calibration of a rainfall–runoff model against regional flow duration curves (FDCs), which is a seemingly alternative method of classical parameter regionalisation for ungauged catchments. We used a parsimonious rainfall–runoff model over 45 South Korean catchments under semi-humid climate. The calibration against regional FDCs was compared with the simple proximity-based parameter regionalisation. Results show that transferring behavioural parameters from gauged to ungauged catchments significantly outperformed the local calibration against regional FDCs due to the absence of flow timing information in the regional FDCs. The behavioural parameters gained from observed hydrographs were likely to contain intangible flow timing information affecting predictability in ungauged catchments. Additional constraining with the rising limb density appreciably improved the FDC calibrations, implying that flow signatures in temporal dimensions would supplement the FDCs. As an alternative approach in data-rich regions, we suggest calibrating a rainfall–runoff model against regionalised hydrographs to preserve flow timing information. We also suggest use of flow signatures that can supplement hydrographs for calibrating rainfall–runoff models in gauged and ungauged catchments.

Explaining the Value Effect in Emerging Markets: Tangible vs Intangible Information

High book-to-market stocks earn higher average returns than low book-to-market stocks. This result has been verified using stock returns from the U.S., developed, and emerging markets. Why B/M explains expected returns is still an open question. In this paper, we use stock returns representing twenty-five emerging markets to differentiate between competing theories. Our results differ from papers studying the U.S. stock market. For emerging markets, the component of book-to-market that is related to tangible information (past accounting performance) is significantly related to expected returns while the component related to intangible information is not. Our evidence is consistent across emerging market regions, across size groups, and across subperiods. We attempt to differentiate between overreaction and risk explanations for the B/M effect. We find some evidence to support overreaction but find no support for the risk explanation.

Decomposing the Value Premium: The Role of Intangible Information in the Chinese Stock Market

Compared with other developed stock markets, the Chinese stock market has a unique informational and trading environment. Given this unique environment, we find that intangible information (which is orthogonal to past accounting information) and arbitrage risk are potential sources of the value premium. In particular, our single and multivariate decomposition analyses suggest that intangible information directly contributes at least 40% to the value premium over a one-year investment horizon. Further, idiosyncratic volatility, a proxy for arbitrage risk, also influences the value premium. However, its contribution becomes insignificant once we account for the impact of intangible information on idiosyncratic volatility. Overall, our findings indicate that intangible information, which is unrelated to the firm’s “fundamental” accounting-based performance measures, is the key driver of the value effects in the Chinese stock market.

Market Reactions to Tangible and Intangible Information Reviewed

Market Reactions to Tangible and Intangible Information Reviewed

Interviewing artists exhibited in The Field (1968): The use of acrylic paints in a seminal exhibition of Australian colour field painting

Artist interviews are utilized in contemporary conservation practice to gain a deeper understanding of the artist's intent. This method gathers intangible information not obtainable through technic...

Safeguarding information as an asset: Do we need a redefinition in the knowledge economy and beyond?

Background: With the evolution of data, via information into knowledge and beyond, intangible information assets (seen as an integral part of IT assets in this article) increasingly come to fore. A contemporary issue facing organisations in the knowledge economy and beyond is how best to safeguard and derive optimum value from their evolving information assets. A well-known fact is that risk exists because there is the possibility of threats to an asset. Likewise, no assets equals no risk. Although a large body of work is addressing threat models, the nature of the assets of the knowledge economy and beyond has not been well researched.Objectives: To investigate the definition of information assets across a number of financial, risk and information technology standards, frameworks and regulations, in order to ascertain whether a coherent definition exists across the board. If there is none (or limited), then propose a workable definition that is apt for the knowledge economy and beyond.Method: Qualitative thematic content analysis and a comparative study based on four main themes (Assets, Types of Asset, Information, and Information Assets). This then serves as a basis for argumentation schemes that lead to a proposed re-definition. The qualitative research approach assists us to address the concern of the incoherent definition of information and information assets across the board.Results: Contrary to expectations, the research study found the current definition to be incoherent. When the asset to be controlled is not properly defined and understood, it stands the risk of not being identified properly. This implies that the effectiveness, efficiency, reliability of internal control, and compliance with the applicable legislation and regulations would not be appropriate. This article highlights the need for a fundamental shift in how information assets (valuable, but unvalued organisational intangible assets) are being viewed and treated, especially with regard to information risk and internal controls.Conclusion: This article has identified a major defect in most standards, frameworks, and regulations dealing with regard to the safeguarding and management of information assets (and IT assets). It has established from the review carried out that information assets have not been properly defined across the board. Beyond this significant finding, it was further shown that the principle of risk (assessment) across the board requires the identification of the asset that needs to be controlled. A starting point, then, is a coherent definition (as proposed) for the information asset in itself. Therefore, proper definition across the board might assists in proper identification that could result in appropriate control and graceful handling of the end-of-life disposal.Keywords: infonomics; information asset; information risk; internal control; reputation loss

Space and Time Perception and the Geopark’s Communities. From Mythical Geography to Heritage Interpretation

Abstract A geopark is a complex protected area, combining time scales, nature, culture, man and Earth. Since its creation, Hațeg Geopark uses an innovative approach on community involvement based not only on the tangible culture, but also on the intangible heritage, geographical information, myths and beliefs. The Geopark uses popular geographical knowledge to map the local space perception, to investigate the imaginative geographies and to capture the memory of the communities. This data, combined with scientific facts, forms the Interpretation Strategy of the region. The aim of this study is to show the theoretical framework of working with popular geographical knowledge and its practical uses in heritage interpretation: strategy, infrastructure, identity and perpetuated cultural values.

Inferring Employeess Social Media Perceptions of Corporate Culture and the Link to Firm Value

To date, investors' efforts to evaluate a company's culture have been hampered by a lack of timely data. To address these limitations, we employ a probabilistic topic model known as Latent Dirichlet Allocation (LDA) to automatically infer employees’ perceptions expressed in social media. We find evidence of a statistically significant relation between employees’ perceptions of performance-orientated cultures and firms' future earnings surprises. Our study highlights the merits of textual analysis for automated corporate culture analysis and builds on the growing body of evidence which suggests that intangible information is not fully exploited by investors.

A social and environmental approach to microfinance credit scoring

Microfinance institutions provide loans to low-income individuals. Their credit scoring systems, if they exist, are strictly financial. Although many institutions consider the social and environmental impact of their loans, they do not incorporate formal systems to estimate these social and environmental impacts. This paper proposes that their creditworthiness evaluations should be coherent with their social mission and, accordingly, should estimate the social and environmental impact of microcredit. Thus, a decision support system to facilitate microcredit granting is proposed using a multicriteria evaluation. The assessment of social impact is performed by calculating the Social Net Present Value. The system captures credit officers' experience and addresses incomplete and intangible information. The model has been tested in a microfinance institution. The paper shows how a small institution can include social and environmental issues in its decision-making systems to evaluate credit applications. A gap in the preferences was found between members of the board, who are socially driven, and managers and credit officers, who are financially drifted. This mission drift was corrected. The approach followed contributed to creating a culture of social and environmental assessment within the institution, especially among credit officers, thereby translating Microfinance institutions' social mission into numbers.

USING ANP TO DESIGN A LIVING SYSTEM LIKE BALANCED OPERATING MODEL FOR INTANGIBLE SERVICES

<div class="page" title="Page 1"><div class="layoutArea"><div class="column"><p>There is no need to present another ANP-based approach for weighting criteria within decision making contexts. Academic literature in disciplines like economics, engineering, political sciences, statistics or mathematics testify to the broadness of topics, situations and cultures where the method’s value has been proven. From supply planning or road mapping to monitoring, from crisis management or banking crime to rural water supply, decision makers –both in governments or firms- have implemented this method on the five continents.</p><p> </p><p>However, the method has been used less in areas beyond decision making. For example, in the field of innovation or organisational design, it can be expected that ANP facilitates the formulation of a suitable dynamic to combine the complex links of experts’ representations of the system under study. We advance the hypothesis that the ANP method’s friendliness to rough data, and ability to combine tangible and intangible information can be useful for providing the relevant interactions for living systems like modelling which is at the centre of the cross disciplinary creativity needed to design innovative and balanced operating models. In this context “operating models” shall be understood as the descriptions of how organizations operate across processes, people and technology in order to accomplish their functions.</p></div></div></div>

Mobile Communication and Local Information Flow: Evidence from Distracted Driving Laws

ABSTRACTWe examine the influence of mobile communication on local information flow and local investor activity using the enforcement of statewide distracted driving restrictions, which are exogenous events that constrain mobile communication while driving. By restricting mobile communication across a potentially sizable set of local individuals, these restrictions could inhibit local information flow and, in turn, the market activity of stocks headquartered in enforcement states. We first document a decline in Google search activity for local stocks when restrictions take effect, suggesting that constraints on mobile communication significantly affect individuals’ information search activity. We further find significant declines in local trading volume when restrictions are enforced. This drop in liquidity is (1) attenuated when laws provide substitutive means of mobile communication and (2) magnified when locals have long car commutes and when their daily commutes overlap with regular exchange hours. Moreover, trading volume suffers the most for local stocks with lower institutional ownership, less analyst coverage, and more intangible information. Additional analyses show lower intraday volume during local commute times when mobile connectivity is constrained. Together, our results suggest that local information and local investors matter in stock markets and that mobile communication is an important mechanism through which these elements operate to affect liquidity and price discovery.

Video Game, Author and Lemming

Many studies show that video games require attentive and interpretive capacity to generate complex cognitive skills in the gamer and they can be transferred to other contexts, such as school. In this paper, the authors do not aim to investigate the contents of the player's thinking, but rather his/her way of thinking. In this scenario the teacher becomes a worlds' maker, who provides his/her students with the tools allowing them to partake in the co-building of multi-tiered worlds, which requires not only the ability to get access to intangible information but also a skillful management of media interfaces. In this way, the click of the mouse becomes the action par excellence that allows each individual to contribute synergistically to the realization of the digital habitats. The ultimate goal is to search, in the learning processes activated by the video games in both the authors and the lemming, those features that make the learner a self-knowledge builder. Such “socio-cultural grammar” influences the writing and interpretation of messages, turning every individual into an author, who's often unaware of the “scriptwriting culture” that inhabits all the possible media worlds.

Investor sentiment, customer satisfaction and stock returns

Purpose– This study aims to investigate whether and how different sentiments affect the stock market’s reaction to the American Customer Satisfaction Index (ACSI) information.Design/methodology/approach– The portfolio approach, with time-varying risk factor loadings and the asset-pricing models, is borrowed from the finance literature to investigate the ACSI-performance relationship. A direct sentiment index is used to examine how investors’ optimistic, neutral and pessimistic sentiments affect the aforementioned relation.Findings– This paper finds that customer satisfaction is a valuable intangible asset that generates positive abnormal returns. On average, investing in the Strong-ACSI Portfolio is superior to investing in the market index. Even when the stock market holds pessimistic beliefs, investors can beat the market by investing in firms that score well on customer satisfaction. The out-performance of our zero-cost, long–short ACSI strategy also confirms the mispricing of ACSI information in pessimistic periods.Research limitations/implications– Findings are limited to firms covered by the ACSI data.Practical implications– Finance research has further documented evidence of the stock market under-reacting to intangible information. For example, firms with higher research and development expenditures, advertising, patent citations and employee satisfaction all earn superior returns. Literature also proves that investors efficiently react to tangible information, whereas they undervalue intangible information. In summary, combining our results and those reported in the literature, customer satisfaction is value-relevant for both investors and firm management, particularly in pessimistic periods.Originality/value– This study is the first to investigate how sentiment affects the positive ACSI-performance relationship, while considering the time-varying property of risk factors. This study is also the first to show that ACSI plays a more important role during pessimistic periods. This study contributes to the growing literature on the marketing–finance interface by providing better understanding of how investor emotional states affect their perceptions and valuations of customer satisfaction.

Capitalizing R&D expenses versus disclosing intangible information

We study how to improve the value-relevance of financial information for intangible-intensive firms by investigating two alternatives: capitalizing R&D expenses and disclosing intangible information. Using patent counts/citations to proxy for intangible intensity, we find that the incremental value-relevance of disclosing patent counts/citations is greater than that of capitalizing R&D expenses for the high-patent group and vice versa for the low- or medium-patent group. Investors favor the disclosure of patent information for firms with more successful innovations. Since disclosing intangible information may lead to appropriation by rivals, we find that, for the high-patent group, the incremental value-relevance of disclosing patent counts/citations is more pronounced for firms in industries with stronger protection of intellectual property. Overall, our results suggest that disclosing R&D outputs can improve the value-relevance of financial statements for firms rich in intangibles and the incremental benefits of such disclosure will be greater in industries with strong protection of intellectual property.

Mobile Communication and Local Trading Activity: Evidence from Distracted Driving Laws

We examine the influence of mobile communication on local information flow and local investor activity using the enforcement of state-wide distracted driving restrictions, which are exogenous events that constrain mobile communication while driving. By restricting mobile communication across a potentially sizable set of local individuals, these restrictions could inhibit local information flow and in turn, the market activity of stocks headquartered in enforcement states. We first document a decline in Google search activity for local stocks when restrictions take effect, suggesting that constraints on mobile communication significantly affect individuals’ information search activity. We further find significant declines in local trading volume when restrictions are enforced. This drop in liquidity is 1) attenuated when laws provide substitutive means of mobile communication and 2) magnified when locals have long car commutes and when their daily commutes overlap with regular exchange hours. Moreover, trading volume suffers the most for local stocks with lower institutional ownership, less analyst coverage, and more intangible information. Additional analyses show lower intraday volume during local commute times when mobile connectivity is constrained. Together, our results suggest that local information and local investors matter in stock markets and that mobile communication is an important mechanism through which these elements operate to affect liquidity and price discovery.