Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/113859
Authors: 
Rubio Martín, Gracia
Rodríguez Paredes, Mercedes
Maroto Acín, Juan Antonio
Year of Publication: 
2013
Citation: 
[Journal:] Revista de Métodos Cuantitativos para la Economía y la Empresa [ISSN:] 1886-516X [Volume:] 16 [Year:] 2013 [Pages:] 68-94
Abstract (Translated): 
This article analyzes the extent to which accounting standards adequately re ects the value of intangible assets as well as its usefulness for financial agents in the process of buying and selling companies. Based on a sample that includes price of private transactions and listed companies from the pharmaceutical and biotech Spanish sector in the period 2005-2011, we have analyzed: i) The performance of price-to-book ratio; and ii) Based on a regression model, the relevance of different accounting items in the price generation process, as well as what part of the intangible value of the company is not reflected in the financial statements. The authors conclude that traditional financial information must be complemented with an intellectual capital report.
Subjects: 
intangible
value driver
fair value
intellectual capital report
JEL: 
M41
C31
Document Type: 
Article

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