Uncovering the hidden value of intangibles: a constructive de- and reconstruction

Isabella Miller and Robert Obermaier

Chapter 28 in Handbook on Intangibles, 2026, pp 529-545 from Edward Elgar Publishing

Abstract: This chapter critically revisits the prevailing conceptualizations of intangible assets within performance measurement systems and proposes analternative framework for understanding their value contribution. Challengingthe assumption that intangibles must be measurable to be managed, the authorsargue that traditional approaches—whether grounded in financial accounting,strategy-aligned frameworks, or business model logic—fail to capture theevolving and dynamic nature of intangible value creation. In response, thechapter introduces the Intangibles Value Contribution Process (IVCP) model, aprocessual and management-oriented perspective that reconceptualizesintangibles through two interlinked phases: value potential build-up and valuepotential utilization. Drawing on resource orchestration theory, the IVCP modelpositions intangibles as evolving entities shaped through structuring,bundling, and leveraging activities, rather than static value carriers. Themodel highlights the critical importance of complementarities among intangibleand tangible resources and their manifestation in future earnings capabilities.The framework is then applied to the context of digital transformation,illustrating how IT investments function as exemplary cases of intangible valueevolution. The chapter concludes by proposing the IVCP model as a tool formanagerial control and hypothesis-driven evaluation, thus offering a novel lensfor navigating the complexities of intangible asset management in contemporarybusiness environments.

Keywords: Intangibles; Hidden value; Value reconstruction; Corporate reporting; Intangible disclosure (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035306367
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