With the coming of knowledge economy, intellectual capital has become the most important sources of competitiveness. Because intellectual capital lacks uniform valuation and has nonconformity with the definition of GAAP intangible assets, most intellectual capital can¡¦t be presented in financial reports. If we can consider intellectual capital in business valuation, we can assess firm¡¦s intrinsic value more exactly. So this study is based on Ohlson (1995) model to examine the value relevance of human capital (human assets), structural capital (R&D assets) and relational capital (advertising assets).
The empirical evidence shows that (1) human assets, R&D assets and advertising assets have significant positive relation with market value of firms, (2) the Ohlson (1995) model including the three assets components has greater value relevance, (3) the effect of human assets, R&D assets and advertising assets on business valuation are different among industries.
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0607105-215000 |
| Date | 07 June 2005 |
| Creators | Tsai, Ching-chen |
| Contributors | Miao-ling Chen, Chen-tsung Huang, Ming-chi Chen |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | Cholon |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0607105-215000 |
| Rights | not_available, Copyright information available at source archive |
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