A firm�s relationships with its customers contribute to its organizational capital and represent an important part of its shareholder value, so the nature of the value in these relationships needs to be understood well and managed carefully. Marketing managers therefore require techniques that will assess relationship value comprehensively in order to manage their portfolio of customer relationships effectively and in order to argue for a sufficient share of the firm�s resources to develop these market based assets for competitive advantage. At present, there is a well-established technique for assessing customer profitability analysis which assigns revenues, expenses, assets and liabilities to customers and algebraically sums their value to reach a profitability figure for each customer. However, even in its more sophisticated forms, the primary focus of customer profitability analysis as it is currently used tends to be the management of profitability by way of the management of existing situations, and particularly of cost, rather than the management of the value that is potentially available in the future from the intangible aspects of a relationship. Without knowledge of the dimensions of intangible value in the relationship, the technique is restricted to assessing those relationship aspects that can be easily quantified in dollar terms by the modification of existing accounting information. This leaves a gap in the available toolbox for managers in assessing relationship value, because much of the value of a relationship may be in its intangible aspects, which at present can not be readily assessed other than by a manager�s experience and intuition. In order to develop techniques specifically for intangible value assessment, it is necessary to understand the dimensions of this intangible value. Development of scales to measure the dimensions of this intangible relationship value and development of an understanding of its structure is thus a useful research goal, which is supported by calls in the literature for the quantification of market-based assets and their value Elucidation of the dimensions and structure of intangible relationship value is therefore the goal of this thesis. Although there are recent reports in the literature of studies that include the intangible aspects of relationship value, most of those that have been conducted in a business-to-business context appear to be primarily concerned with investigating the drivers of value rather than its dimensions, and those that deal with the business-to-consumer context describe techniques to assess the aggregated value of many consumers, rather than an individual buyer as is required for business-to-business applications. The thesis therefore proposes a conceptual framework, synthesised from the intellectual capital literature, which provides a set of six dimensions and a structure of intangible business-to-business buyer-seller value. The six proposed dimensions are unique in that they cover the human aspects of the relationship extensively. The thesis describes the testing of the proposed conceptual framework. This was achieved primarily by the use of the structural equation modelling technique on survey data that was collected from managers in the New Zealand manufacturing industry, following qualitatively analysed interviews with managers. The tests support the framework and its value dimensions. The thesis therefore concludes that this research provides a contribution to the literature on value assessment and that future research should be conducted to validate its findings.

This thesis investigates the role of intangible capital and intangible investment (the intangibles) in explaining modern economic activity. It presents an in depth analysis of the context in which the intangibles are studied in the economic literature, and modifies existing theoretical real business cycle (RBC) models to account for the presence of the intangibles. The newly developed models are further used to address previously documented issues such as the Canadian productivity puzzle and the quantity anomaly. Chapter 1 provides a detailed explanation of the concept of the intangibles in the economic literature. It also highlights the importance of accounting for the intangibles during economic analysis and presents a detailed analysis of how they are measured and modeled in practice. The main findings indicate that the intangibles have contributed positively to economic growth and productivity. The need for improvements in the measurement and modeling of the intangibles is also identified. Specifically, there is a need to improve the estimates of the depreciation rates and price deflators that are used in the measurement of intangible assets; and a need for proper model specification testing to validate the inclusion of the intangibles when modeling economic activity. Chapter 2 explores the role of the intangibles in explaining business cycles in a small open economy. The benchmark two-sector model developed in this chapter is tailored to the Canadian economy and allows for the examination of the relationship between intangible investment and the trade balance, which has not been attempted to date in the RBC literature. Overall, this chapter finds that technological change in the production of intangible investment plays an important role in explaining labour productivity and business cycles in a small open economy. Simulations based on the benchmark two-sector model highlight the circumstances under which the trade balance to business sector output ratio tends to be procyclical. The extended model is further used to make predictions about the Canadian productivity puzzle, where the main findings reinforce the need to re-evaluate the traditional measure of productivity in business cycle models. Chapter 3 is motivated by the rising levels of intangible investment in the U.S. and Europe. These investments have been expensed in the national accounts rather than capitalized (unmeasured investment) and this practice has resulted in the traditional measures of investment, productivity and output underestimating their true levels. In order to investigate the economic impact of this practice in an international setting, the standard two-country business cycle model is extended to include such intangibles. The main results imply that the traditional measures of output and labour productivity differences across countries are understated when intangible investment is not properly accounted for. The modeling of intangible investment also improves the fit of the model based upon recent data on international business cycles. This is most evident in the international correlation of investment, which the standard model predicts to be low (0.13) and the extended model correctly predicts to be high (0.66) as seen in the data (0.74). / Dissertation / Doctor of Philosophy (PhD)

"June 2002" Includes bibliographical references: (p. 30-35). The papers examines the association between the transparency of corporate financial reporting on intangible assets relative to a proxy for total intangible assets, and analyst incentives to follow firms and properties of analysts' earnings forecasts - controlling for endogeneity among these factors. More transparent financial reporting on intangible assets is measured by higher recognition of intangible assets on the balance sheet relative to a proxy variable for total (underlying) intangible assets, market value added which equals equity market value minus book value with intangible assets subtracted. The results suggest (1) a reputation for transparent financial reporting on intangible assets is associated with increased demand for analyst research and thus analyst following incentives; and (2) a reputation for less transparent reporting on intangible assets is associated with higher forecast dispersion and errors due to analysts' greater reliance on their own private information. The study extends research on determinants of analyst following, forecast dispersion and accuracy, and research on the impact of public disclosure on private information acquisition activity.

This Bachelor thesis deals with the definition of Intangible Assets in the context of financial reporting. The purpose is to integrate intangible assets into the balance sheet. After a thorough analysis of the ongoing research shows that there is general consensus concerning intellectual property, and general confusion concerning knowledge, information and organization capital. Some have what it takes to enter balance sheets, while others still lack a holistic concept that is generally accepted and fulfils the demand of accounting. Neither of them is reported according to the presently available and established knowledge. This thesis shows that a prerequisite for an improved reporting is the consequential extension of accounting principles for intangible assets. The fact that the term “intangible asset” became a gathering of all possible intangible phenomena demands counter-actions. One of its reasons is the demand for the measurement of relative performances of intangible assets. This thesis shows that reporting absolute figures for intangible assets does not stand in contrast with this, but can deliver the necessary data set for a holistic analysis that also deals with intangible assets.

[Truncated abstract] The primary aim of this study was to examine, and compare, the value relevance and any bias associated with the reporting of intangible assets in Australia and the US over the ten-year period 1994 to 2003. The study adopts a disaggregated form of the Feltham and Ohlson (1995) valuation model and associated linear information models (LIMs) to allow goodwill and identifiable intangible assets to be separately examined using unbalanced panel regression analysis. The results for the Australian sample suggest that the adaptation of the Feltham and Ohlson (1995) valuation model used in this study is particularly useful in examining Australian equity securities. For example, the pooled sample analysis results in an adjusted R2 of 71%, which is consistent with similar US studies by Ahmed, Morton and Schaefer (2000) and Amir, Kirscenheiter and Willard (1997). Further, the results from the disaggregated Feltham and Ohlson (1995) valuation models suggest that the information presented with respect to intangible assets (both goodwill and identifiable intangible assets) under Australian GAAP is value relevant. However, the results from the valuation models also suggest that (for the average Australian company) the market believes goodwill is reported conservatively and identifiable intangible assets aggressively. ... As noted earlier, the increasing importance of intangible assets in the `new-economy’ suggests that (wherever possible having regard to the measurement difficulties) all intangible assets should be recognised in financial statements to maximise the value relevance of those statements. It should be noted, however, that there was some evidence to suggest that certain Australian companies (that is, those not consistently reporting positive abnormal operating earnings) might be reporting goodwill and/or identifiable intangible assets aggressively and this is an area that standard setters might need to carefully consider in future. I trust that the findings presented in this study will prove helpful to both researchers and those involved with formulating international accounting standards in this particularly difficult area of intangible assets. I also hope the results will help to allay any fears regulators (and others) might have that providing managers with accounting discretion will (necessarily) lead to biased reporting practices; based on the findings of this study for the majority of Australian and US companies, any such fears appear unwarranted.

<p> </p><p> </p><p>This Bachelor thesis deals with the definition of Intangible Assets in the context of</p><p>financial reporting. The purpose is to integrate intangible assets into the balance</p><p>sheet. After a thorough analysis of the ongoing research shows that there is general</p><p>consensus concerning intellectual property, and general confusion concerning</p><p>knowledge, information and organization capital. Some have what it takes to enter</p><p>balance sheets, while others still lack a holistic concept that is generally accepted</p><p>and fulfils the demand of accounting. Neither of them is reported according to the</p><p>presently available and established knowledge. This thesis shows that a prerequisite</p><p>for an improved reporting is the consequential extension of accounting principles for</p><p>intangible assets. The fact that the term “intangible asset” became a gathering of all</p><p>possible intangible phenomena demands counter-actions. One of its reasons is the</p><p>demand for the measurement of relative performances of intangible assets. This</p><p>thesis shows that reporting absolute figures for intangible assets does not stand in</p><p>contrast with this, but can deliver the necessary data set for a holistic analysis that</p><p>also deals with intangible assets.</p><p> </p><p> </p>

Tesis para optar al grado de Magíster en Finanzas / No disponible a texto completo / No existe una receta o una metodología única a seguir para valorar los intangibles en todas las compañías.

The diploma thesis focuses on comparing the accounting treatment and reporting of intangible assets in accordance with rules in the CR and IFRS. This thesis is concentrated on finding significant differences. A practical example shows the form of intangible assets in practice a few selected companies from different sectors.

No description available.

The counterfeiting industry continues to grow worldwide, valued today at $461 billion according to the Global IP Center’s 2016 Report. This proliferation of counterfeiting has permeated many industries, but poses a unique threat to the luxury retail sector. Many factors have precipitated the expansion of this industry: expanded trade and manufacturing networks, enhanced technology, the rise of e-commerce, the globalization of trade, and others. Long viewed as a necessary evil in the luxury business, this booming counterfeit industry threatens retailers and governments alike. For individual retailers, counterfeiting deprives them of revenues, increases anti-counterfeiting expenses, devalues the brand, and disincentivizes growth and innovation. As a result, governments suffer slowed economic growth, higher unemployment and decreased tax revenues. Despite the economic and accounting consequences of luxury counterfeiting, steps can be taken to mitigate its impact. Legislation that defines and protects intellectual property rights, brand enforcement tools, supply chain management, public and private sector partnerships, authentication technology and consumer education present opportunities for building a strong anti-counterfeiting strategy. My research examines the luxury counterfeiting industry from its origins, investigating its history and the reasons for its rise in current global conditions. Taking an accounting-based perspective, I address both the ramifications of the luxury counterfeiting industry and propose strategies to combat it. Curtailing the expansion of this lucrative, black-market industry will be difficult and costly for luxury retailers and governments alike, but given the growing threat it poses around the world, it is in their best interest to pursue some of these proposed strategies.