Intangible Value Research Articles

Lighting Design for Lanna Buddhist Architecture: A Case Study of Suan Dok Temple, Chiang Mai, Thailand

In Chiang Mai, Thailand, there has been an increasing demand for lighting design strategies that enhance tangible and intangible values of cultural heritage destinations. This research explores the role of lighting design in enhancing the cultural experiences and promoting the cultural tourism of Lanna Buddhist architecture. Suan Dok Temple was selected as a case study due to its historical, social, and cultural significance. This research uses qualitative approaches such as field surveys, photographic documentation, and interviews with temple authorities, cultural heritage experts and tourism professionals for the formulation of initial users’ requirements and lighting design criteria and concept. Data analysis suggested that cultural heritage and conservation, cultural tourism management, and operation and maintenance are important factors in heritage lighting design for cultural tourism. Realistic rendering images of lighting design scenes for the temple’s chedis and vihara are generated based on the concept of luminance layers representing the Buddhist cosmology idea. In addition, lighting operation and installation details are developed and presented to stakeholders for discussion on contextual and operational appropriateness. Finally, the study discusses critical lighting design factors for the development of lighting design solutions for heritage sites, particularly Lanna Buddhist temples, contributing to sustainable cultural tourism.

Navigating Reversed Valuation Dilemmas: SME Enterprises Nationalized in 1950s Poland - A Case Study

The publication describes a problem that often arises in court cases regarding the valuation of SME forcibly nationalized in the 1950s. Valuation of compensation to previous SME owners is an ongoing court debate in Poland. The authors proposed an approach that took into account the economic conditions at that time and complied with the principle of paying compensation for the actual losses incurred, and not for the potential losses that could be incurred as a result. At the same time, the publication analysed other similar judgments in cases regarding compensation for nationalized enterprises. The practical and scientific value of the publication lies in the fact that it addresses an existing practical problem and its solution. Research Design & Methods: the paper presents a conceptual proposal of the SME valuation method in unique circumstances, complemented by a detailed case study illustrating the application of this valuation approach. Findings: When calculating the compensation for nationalization or other forms of expropriation courts use various methods of valuing net assets (fair market value, book value, recreation value) plus separately determine the value of intangibles, such as licenses, based on the discounted average profits from such assets for a reasonable period of time. If indexation was employed (for historical cost valuation), it used either average interest rates in the economy, the cost of capital of a company, or the cost of lost opportunities for a particular company. Using discounted cash flow valuation for the entire business was uncommon and even if it was included in the bilateral investment treaties (which were meant to protect investors from expropriation) it was considered by the tribunals as speculative and unreliable. Our approach proposes net asset value approach with the use of inflation or average salaries for indexation (to calculate current values of assets) and a combined approach of historical values if they were known at the moment of nationalization and modern estimates of values of remaining assets (that belonged to the company but their value was not provided in the original documentation). Implications & Recommendations: The analysis of historical compensation decisions and bilateral investment treaties suggests that the most popular approach to valuing a loss from expropriation is the fair market value approach and net assets approach with a separate valuation of significant intangible assets provided that they gave certainty of profits for the investor. Contribution & Value Added: The practical and scientific value of the publication lies in the fact that it presents an existing practical problem of court calculation of compensations to owners of forcibly nationalized SMEs in Poland and its solution together with methodological framework that can be used in the future

Current Status of Conservation and Exploitation of Unique Values of Typical Folk Art Forms in Tourism Development in Ethnic Minorities in Ha Giang Province, Vietnam

Ha Giang is a province in the northeastern region of Vietnam, adjacent to the border with China. The 21 ethnic groups living alternately created Ha Giang with a vibrant and diverse cultural picture. Implementing the strategy of taking traditional culture as a driving force for tourism development and promoting tourism to preserve culture, over the past time, Ha Giang province has been quite successful in bringing tangible and intangible cultural values to the world, in which there are types of folk art and literature into the model of community-based tourism to serve tourists. This article presents the current status of exploitation, conservation, and unique values of folk art and literature on ethnic minorities in the socio-economic development of Ha Giang province. This article also evaluates the achievements and limitations of several policies that have been implemented in the past. Hence, the solutions proposed to develop policies to exploit and preserve the values of natural resources include folk art and literature of the ethnic minorities in Ha Giang Province appropriately and effectively, contributing to the province's socio-economic development in the current context.

Intangible assets and firm performance: The relative effects of recognized and unrecognized assets

The term intangible assets embraces a wide array of assets, resources and capabilities that contribute to the productive potential of firms, but which do not have physical substance. Most empirical studies simply use an aggregate measure of intangibles derived from data collated from firms’ financial statements (we refer here to recognized or written intangibles). But such a measure includes only some of the valuable intangibles that firms possess, and typically does not capture the value of many intangibles (e.g. managerial and organizational capabilities, market knowledge, trusted relationships) that are internally generated by the company. Yet it is likely that such unrecognized or non-written intangibles will have at least as important an impact on corporate performance as that of the written intangibles. We show empirically that the growth of both categories of intangible assets have significant effects on sales growth (our chosen measure of firm performance), and that the elasticity of firm performance with respect to the growth of written intangibles is significantly larger than the elasticity with respect to the growth of non-written intangibles. However, our analysis also reveals that the mean stock of non-written intangibles is three times larger than the stock of written intangibles, and that the mean growth of the non-written intangibles is three times faster than that of written intangibles.

Inheritance and Development of Chinese Kang in Interior Space

The Chinese kang is an ancient technology that combines an integrated household system for cooking, sleeping, and heating. Most of the existing research focuses on the energy performance of Chinese kang and its impact on the interior environment and tries to adapt it to the modern interior space through the improvement of its technology. However, if we only focus on the research and improvement of the technical level of Chinese kang, it is not conducive to the effective inheritance and development of the culture. This paper studies the concept of 'inheritance and development' of Chinese kang culture more comprehensively from the perspective of interior design. The study proves that Chinese kang is not only a survival necessity to cope with cold, but also an expression of people's emotional catharsis and psychological needs, and that the intangible values of Chinese kang culture can be integrated into tangible modern living spaces and developed in the process of modernisation. The results of the study can be used as a starting point for enriching the Chinese kang culture and interior living culture from different perspectives in the future.

The concept of an ideocratic state

Relevance. It is quite obvious that the modern world has entered a new stage of its development, the prospects of which are very vague. The model of the mondial world order with its ideas of faceless globalization, depopulation, universalization, de-Christianization, etc. are rejected by Russia. Recently, in political discourse and in official strategic planning documents, Russia has been called a civilization state with a pronounced identity. In the Russian conservative legal doctrine, the definition of specific features of Russia's state identity was a key topic, and the priority of intangible values was noted as the main feature of Orthodox civilization. It is no coincidence that Russian socio-political thought has always been puzzled by the search for a Russian idea. In this regard, the concept of ideocratic statehood is of particular interest, the main meaning of which was to search for a key idea or system of ideas on the basis of which the state should be built.The aim is to reconstruct and interpret the theory of the ideocratic state of the Russian conservative political and legal doctrine of the late XIX - first half of the XX centuries.Research objectives: to study the evolution of the concept of an ideocratic state, to analyze its conceptual apparatus, to comprehend the importance of state ideology for the modern stage of development.Methodology. It is based on the historical method of cognition, which contributed to the disclosure of the evolution of the theory under study, the method of diachronic and synchronous comparison, as well as a problem-theoretical one, which allows determining the degree of modern relevance of the concept under study.Results. The conducted research allowed us to establish that the concept of ideocratic statehood was mainly formed in the works of representatives of the socio-political movement of Eurasians, which originated in the 20-30 years among Russian emigration. The most significant contribution to the theoretical development of the doctrine of the ideocratic state was made by N.N. Alekseev. It was he who generalized the ideas of the Eurasians, conceptualizing them into a legally sound theory of demotic ideocracy or a guarantee state.Conclusion. Ideocracy is a concept of governance based on the postulate of idealism, based on which the definition of the state as a single super-organic entity, where the idea shared by all the people rules.

Efficiency evaluation of intellectual capital for value creation: a case study of the semiconductor industry in Taiwan

PurposeThis study constructs an efficiency evaluation framework for assessing the human, structural and relational capital in the semiconductor industry of Taiwan. Furthermore, we analyze whether there are significant differences in efficiency across different levels concerning the industry supply chain (upstream, midstream and downstream), employee service tenure, capital scale and company establishment years.Design/methodology/approachThis study focuses on Taiwanese semiconductor companies, utilizing data sourced from the Taiwan Economic Journal (TEJ) Database for the period spanning 2017 to 2021, encompassing a total of five years. Due to the nondisclosure of intangible asset values by all companies, an effort was made to ensure a comparable baseline by excluding companies with incomplete or missing data. Finally, empirical analysis was conducted on a sample of 64 companies using the dynamic network data envelopment analysis method.Findings(1) Overall efficiency demonstrates structural capital as the most prominent, followed by relational capital, while human capital shows relatively poorer efficiency. (2) To enhance the efficiency of intellectual capital, priority should be given to improving the efficiency of outputs related to intellectual property rights such as patents. (3) The midstream segment exhibits the best efficiency in both structural and relational capital. (4) Companies with longer employee service tenures exhibit superior efficiency in human capital in the long run. (5) Companies with extended establishment years and larger capital scales demonstrate superior efficiency in both human and structural capital.Originality/valueReflecting on past literature, scholars have primarily focused on the relationship between intellectual capital and firm efficiency, often emphasizing the overall efficiency of intellectual capital. However, within organizations, human capital, structural capital, and relational capital are interrelated. This study, for the first time, assesses the efficiency of these three components within an organization. The research addresses the challenges in analyzing the efficiency of intellectual capital and introduces a highly contemporary approach – dynamic network data envelopment analysis (DNDEA). Using the semiconductor industry in Taiwan as a case study, this paper conducts empirical analysis in a captivating and worthy industry. Therefore, the ideas presented in this paper are original.

<em>Je Suis Pas Tatamisé</em>: Five Spectrums of Variation in the Narratives of 20 Aikido Experts Worldwide in 2020

This qualitative study delved into the contemporary meaning of aikido through 20 expert interviews conducted in 2020. The interviewees were purposively selected and the analysis of the interview data identified five spectrum themes. (1) The spectrum of aikido practice ranges from soft to tough training style. (2) The aikido motivation spectrum moves from self-defence to self-transformation. (3) The spectrum of aikido in society shows the different social contexts in which aikido is practised. (4) The spectrum of tangible values reveals the various material aspects of Japanese culture that experts adopt. Finally, (5) the spectrum of intangible values shows how experts perceive the immaterial significance of aikido differently. While the answers of the experts varied, the analysis revealed similarities and differences that prove aikido is a worldwide phenomenon with unique experiences. The study concludes that the five spectrums of variation add to the discourse against simplifying aikido or other martial arts.

The value of organic agriculture beyond contemporary food sufficiency in the developing world

Understanding the value of organic agriculture beyond contemporary food sufficiency is crucial in addressing sustainable agriculture and the welfare of the community. Yet, economic analysis of agricultural output usually focuses on crop yield rather than other intangible values related to environmental health, which mainly encompass human health and the environment. The non-marketable value of the ecosystem services in organic agriculture is always higher than in conventional agriculture. When the non-market value is considered during yield assessment, the difference in crop yield between organic and conventional agriculture may be insignificant or even higher for organic. This paper aims to give a gritty overview of the intangible values of organic agriculture in comparison with conventional agriculture to account for other environmental and health benefits associated with organic farming. This is crucial because productive agroecosystems for sustainable development should be able to meet the needs of the present generation without compromising the ability of the future generation to meet their needs. It has been revealed that the application of ecological principles under organic agriculture brings several environmental and socio-economic benefits. Therefore, there is a need to explore some insights into the values of organic agriculture beyond the contemporary food sufficiency which are usually given less attention during economic analysis, for increased understanding and adoption of this kind of farming to harness the associated potentials.

Attributes Driving Intangible Asset Valuation

The inherent complexity and subjectivity of assessing assets such as intangible asset, posing challenges for standardized methodologies and accurate financial reporting, this complexity is compounded by the consideration of various valuation criteria, some of which are ill-suited for appraising intangible assets, this study is dedicated to assessing the key attributes that drive the valuation of intangible assets, aiming to construct a comprehensive framework for their valuation. Employing a mixed-methods approach, both quantitative and qualitative research designs were employed, utilizing survey questionnaires, semi-structured interviews, and focus group discussions. Purposive sampling was employed to select participants and the data analysis involved descriptive and thematic content analysis. The study's findings underscored the paramount economic attributes of intangible assets, highlighting the significance of economic life span and company’s value driver. Conversely, attributes categorized as company’s value distracters were identified as less important, with novelty exhibiting the highest mean value of 4.6. Additional attributes such as originality, legal protection, royalty of the asset, and life span right of protection also contributed significantly to the valuation process. Qualitative findings revealed that the market and income methods of valuation are predominant in intangible asset valuation practices. The study demonstrated that the choice of valuation method hinges on information availability, with attributes like economic life span and historic income influencing the value derivation process using income and market approaches. The study concludes by illustrating its findings through the development of a tangible intangible asset’s valuation framework, providing a structured guide for assessing and determining the worth of intangible assets in a more systematic and informed manner.

¿Estamos interpretando el lenguaje de los tiestos?

Some existing methodological approaches for the analysis of archaeological ceramics are evaluated, and the need to standardize criteria is reflected on. Ceramics are understood as a goods derived from a production process in which each product contains technological knowledge reflected in its quality. Furthermore, each object or artifact also reveals the formal and identity expression of a community from a particular era, externalizing a style. Likewise, as a consumer good it adopts intangible values intrinsic to social work such as, for example, satisfying a need in its functional, ideological, economic or social expression. These three dimensions of analysis: technological, cultural identity and social valuation define its essence. In the technological dimension, ceramic production involves a succession of technical steps. Therefore, ceramic study must analytically reproduce this succession of steps to understand the technical particularities of each production process.

Supporting management decisions for M&A transactions based on the strategic allocation of intangible assets

In the context of mergers and acquisitions (M&A), management decisions regarding asset allocation play a key role in determining the strategic value of intangible assets. This study investigates the allocation of such assets, particularly goodwill, in relation to enterprise value on balance sheets across global M&A transactions within the B2C sector from 2000 to 2021. Utilizing data from the Markables database, which includes 543 transactions, this study presents robust and quantile regression analyses to effectively address challenges arising from non-normally distributed data. The findings underscore a significant correlation between the strategic allocation of intangible assets, especially goodwill, and enterprise value, highlighting their essential role in reflecting future earning potential and growth prospects. Additionally, the study reveals specific factors, including transaction type (asset vs. share deals) and timing (transaction year), that influence these asset allocation decisions. These insights are critical for enhancing management decisions in valuation and strategic financial planning during M&A. By elucidating these dynamics, this paper significantly contributes to the literature on management accounting and corporate finance, offering a granular understanding of the valuation of intangible assets in business combinations. Acknowledgment This study emerged from a cooperative project between the University of Applied Sciences Kufstein (Austria) and the University of Economics in Bratislava (Slovakia) 2023-05-15-003 “Enhancing long-term business value towards environmentally and socially sustainable economy,” which was funded by the performance committee of the Austria-Slovakia Action initiative.

The impact of ESG performance on intangible assets and intellectual capital in the food and beverage industry

PurposeThis study investigates how environmental, social, and governance (ESG) factors influence intangible asset and intellectual capital valuation within the food and beverage (F&B) industry. By examining and contrasting global and European contexts, the research highlights ESG’s critical role in shaping the economic dimensions of sustainability across different regulatory environments. The results provide essential insights for stakeholders aiming to enhance corporate value through responsible business practices.Design/methodology/approachWe adopt a quantitative fixed-effects panel regression analysis for ESG performance and intangible asset and intellectual capital values. The correlations between these variables are explored both globally and in the European Union using 1,034 observations from 502 F&B companies.FindingsGlobally, higher ESG performance corresponds to lower intangible asset values, a trend not observed in the European Union. Further, high ESG performance is associated with a decrease in intellectual capital value, suggesting that internal organisational efforts in this area should be rewarded in terms of short-term value.Originality/valueThis study provides a new understanding of the relationship between ESG performance, intellectual capital, and the F&B industry operating environment, highlighting the complexity and challenges associated with integrating ESG practices.

ОБРАЗ КОЛЛЕКТИВНОГО ПРОШЛОГО В ПРАЗДНИКЕ-СОСТЯЗАНИИ PALIO DI SIENA

The article analyzes the reflection of Italy's collective past expressed in folk festivals, in particular, a detailed description of the il Palio holiday in the city of Siena in the Tuscany region is presented. This event annually gathers many tourists from all over the world on the main square of one of the most ancient cities of Italy, and this is due to the presence of a sacred component in the structure of the holiday, as well as thanks to those methods that organically developed at the most important historical moment in the development of a rich and politically successful region. The semantic concepts of the Palio holiday are considered through the prism of research by scientists of the sociological field E. Durkheim, M. Halbwaks, P. Nora, who consistently develop the ideas of the genius of a place, a social fact, an intangible value involving the whole society. The relevance of the work is explained by the continuing interest in festive culture, which is a factor in the reconstruction of the past and its actualization in the present. The allocation of different types of memory makes it possible to expand the sphere of influence of cultural phenomena on public life.

A Conservation Strategy for the Sanatorio Carlos Duran Cartín in Costa Rica

The Sanatorio Carlos Duran Cartín in Costa Rica is a noteworthy example of tuberculosis sanatorium architecture. Positioned within the broader context of Latin American architectural heritage conservation, the research pays specific attention to tuberculosis sanatoriums as a prevalent architectural typology from the early 1900s to the 1940s. Its historical and cultural significance is explored through contextualizing its architectural value and identifying current challenges and conservation needs. Using archival documents and photographic evidence, the study aimed to delineate tangible and intangible values associated with the complex, thus justifying the need for its preservation and safeguarding. Furthermore, the study aimed to establish guidelines and a conceptual framework for a conservation strategy designed for the Sanatorio Duran.

Evaluating the Quality of Architectural Heritage Reuse Projects Using a Well-Being and NEB Approach: The Case Study of IPIM in Turin (Italy)

International conservation approaches recognise architectural heritage as crucial in promoting sustainable development and enhancing human well-being. This has been highlighted by the recent New European Bauhaus (NEB) movement. As for the reuse of architectural heritage, this debate has led to the formulation of new guidelines that aim to maximise the tangible and intangible values of the assets from a long-term and circular economy perspective. In turning theory into operational practice, it is essential to reuse heritage structures while keeping these principles in mind and remaining within the boundaries of conservation objectives. To achieve this, evaluation tools that can aid in the decision-making process need to be identified. This research presents a novel model of indicators that can monitor and evaluate the quality of architectural heritage reuse projects, proposing a perspective that considers both the concept of well-being and the NEB principles. The proposed model is tested on Turin’s IPIM (Provincial Institute for Childhood and Maternity). This structure has been transformed from an uncomfortable heritage into a cultural centre for contemporary art called Flashback Habitat. The case study tests the model’s practical applicability and demonstrates its effectiveness in identifying the most challenging principles to apply in practice.

Tezcalera, a traditional agricultural system that promotes native wild and agrestal germplasm conservation

Background: Traditional agricultural systems in Mesoamerica are adaptations of ancient farmers to the complex and varied environments. Tezcalera represents one of them. Questions: How is the environmental context under which the tezcalera develop? Which management practices are followed in tezcalera? How do these management practices affect weeds' richness, composition, and abundance? How do these management practices contribute to the resilience of the agricultural system, the tropical dry forests, and to the maintenance of subsistence resources? Studied species: Weeds growing in tezcaleras with different management. Study site and dates: Zumpahuacán, State of México, 2020-2021 Methods: Twenty-four collaborators were interviewed about the environmental, technological, and cultural aspects of tezcalera. We recorded weeds' richness, composition, and abundance in seven plots with different management histories. Results: Tezcaleras originate from the slash-burn process and follow different paths: tlacolol-milsol-shallow plot, potrero, and recently, Agave crop. We recorded 161 morphospecies from 45 botanical families; 95 % were native to tropical dry forests. Twenty-five species are endemic to the Balsas region, and thirty-four are at risk. Richness and abundance varied between tezcaleras, where tlacolol plots exhibited the highest values. Plant composition was similar; 65 % had intangible or tangible values. Conclusions: Tezcalera is a biocultural unit and a resilient agroecosystem. Traditional practices remain and positively impact the richness and composition of native weeds. The uncontrolled use of herbicides and the introduction of Agave crop are displacing traditional crops and modifying traditional practices, risking local agrobiodiversity.

Empowering co-creation of services with artificial intelligence: an empirical analysis to examine adoption intention

PurposeCo-creation of services (CCOS) is a collaborative strategy that emphasises customer involvement and their expertise to increase the value of the service experience. In the service ecosystem, artificial intelligence (AI) plays a key role in value co-creation. Therefore, this study is undertaken to empirically uncover how AI can empower CCOS.Design/methodology/approachThe source data were collected from 305 service provider respondents and quantitative methodology was applied for data analysis.FindingsNew service development augmented with AI provides tangible value to service providers while also providing intangible value to supportive customers. With AI, service providers adapt to new innovations and enrich additional information, which eventually outperforms human-created services.Research limitations/implicationsAI adoption for CCOS empowerment in service businesses brings “service-market fit”, which represents the significant benefits wherein customers contribute to creativity, intuition, and contextual awareness of services, and AI contributes to large-scale service-related analysis by handling volumes of data, service personalisation, and more time to focus on challenging problems of the market.Originality/valueThis study presents theoretical concepts on AI-empowered CCOS, AI technological innovativeness, customer participation in human-AI interaction, AI-powered customer expertise, and perceived benefits in CCOS, and subsequently discusses the CCOS empowerment framework. Then, it proposes a novel conceptual model based on the theoretical concepts and empirically measures and validates the intention to adopt AI for CCOS empowerment. Overall, the study contributes to novel insight on empowering service co-creation with AI.

Finding the Nexus in Accounting and Transfer Pricing Valuations for Tax Amortization of Intellectual Property Rights in Singapore – Part 2

This two-part article examines whether the valuation of intangibles prepared based on accounting standards or transfer pricing guidelines would also comply with the requirements for valuing intellectual property rights under section 19B of the Singapore Income Tax Act 1947. The article highlights potential issues that could result in value misalignment, largely due to differences in the definition of intangibles, basis of value and other valuation considerations. It also provides suggestions to bridge these potential gaps and to enhance valuation certainty for the tax amortization regime in Singapore.

Redefining Supply Chain Financing: The Role of Long-Term Investors and Intangible Assets from a Resource-Based View Perspective

Supply chain finance has the capacity to enhance the efficiency of financing and the ability to manage risk for all stakeholders involved in the supply chain, leading to the promotion of sustainable development, and fostering collaborative partnerships within the chain. The theoretical foundation for the evolution of supply chain finance and the optimal utilization of internal and external resources can be attributed to the resource-based view. Building upon this view, we propose establishing a framework for the relationship between supply chain finance, intangible assets, and long-term investors. However, it is crucial to note that, under the predominant shareholding structure of long-term investors, the value and safeguarding of intangible assets may not be effectively enhanced. This can have ramifications on the investment decisions and interest protection of long-term investors as well as hinder the competitiveness of enterprises and the efficacy of supply chain finance. Leveraging it allows for the extraction of value from intangible assets and attracts the support of long-term investors, thereby aiding enterprises in risk reduction, fostering innovation and technological advancement, and ultimately achieving sustained development. Our proposed model serves as a valuable reference for relevant enterprises and individuals seeking to utilize supply chain finance, particularly for entrepreneurs and innovative companies.