Search

Purpose: The present paper is aimed to investigate the relationship between intangible assets, macroeconomic environment and market value of German, English and Portuguese public companies from 1999 to 2016. Although the IAS 38, assigns value to intangible assets, there is a gap between accounting and the market need. This gap is given by accounting conservatism in the accounting of intangible assets and by their difficult measurement. The verification of the impact of the intangibles on the company's market value is done through the methodology proposed by Gu and Lev (2011), using proxies such as CDS, Libor and Euribor and sensitivity tests. IDE is expected to reflect intangible capital and create shareholder value. This study seeks to interpret the contribution of intangibles and to forecast their impact on the market. Originality/value: The theme of evaluation of intangible assets has been approached in several ways. Its relevance lies in the need to establish methods for its measurement. Design/methodology/approach: The methodological approach is quantitative research with panel data using Stata-15. The database is the Capital IQ with public companies, listed in Germany, England, and Portugal from 1999 to 2016, with annual frequency. Findings: The results suggest that the comprehension value has a positive and significant relationship with the market value of the companies and that the intangible capital and the intangibles-driven-earnings are positively related to research and development expenses and general, administrative procedures. [ABSTRACT FROM AUTHOR]

The spatial scope of knowledge flows is a topic of fierce debate. While several studies have focused on single modes, the aim of this paper is to look at different knowledge flows originating from individual scientists, namely, scientific and industrial collaboration, entrepreneurial activities and human capital formation. The analysis is based on qualitative data acquired from interviews with distinguished German scientists from the disciplines of science and technology. It was found that the excellence of star scientists manifests itself in several ways. However, the results do not confirm the expectation that knowledge flows are predominantly locally embedded. The impact on the local economy was especially low for industrial collaborations. [ABSTRACT FROM AUTHOR]