INTANGIBLE ASSETS: ARE THESE RESOURCES SUFFICIENTLY VISIBLE AND PROPERLY CONTROLLED?
Vol. 11, Nr. 4/2012 , p545..563
Author(s):
Adriana - Sofia DUMITRESCU
Keywords:
Intangible assets, intellectual capital, innovation, intangibles management, assessing intangible assets, model
Abstract:
The current context of market based economy has
highlighted the great importance of intangible assets because innovation is
considered to be the major factor for economic growth. Whether they are labeled
as intangible assets, invisible assets, knowledge capital, core competences,
etc., these assets rely on information and knowledge and they add and create
value for the company. The article aims to reveal how Romanian companies
disclose information about such elements. Referring to the employed research
methods, the article is based on a comparative analysis of the information on
intangible assets presented in the Annual Reports by a sample of Romanian
companies listed at Bucharest Stock Exchange. In order to assess if Romanian
companies disclose sufficient information on intangible assets, a standard of
disclosures format was firstly conceived and secondly the information disclosed
by the sample companies was compared to the standard. Although the capacity for
innovation of a company, the intellectual capacity of employees, the internal
skills developed within a company (know-how, organization, etc.), the owned
patents and technologies, trademarks, the awareness of each brand, the
relationship with customers are all identifiable elements that must be taken
into account if we want to determine the real value of a company, our study
reveals that many Romanian companies listed at Bucharest Stock Exchange do not grant
enough importance to disclosing detailed information on the intangible assets
in their Annual Reports. This situation may arise because of the lack of
awareness or because of the fact that their measurement is most of the time
extremely difficult. In this context, based on the conceived standard of
disclosures format, our
article tries to build a model that will help companies to identify, assess and
control their intangible assets. Our proposed model is a suggestion for the
presentation of the company’s intangible assets and it can be used not only for
internal purposes (intangibles’ management) but also for external purposes
(disclosure of non-monetary information that informs investors on the company's
resources and potential). The presented model can be considered a guideline
which can be easily adapted by companies accordingly to their informational
needs.
Download:
http://online-cig.ase.ro/jcig/art/
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