Acceleration effect of intangibles in the recovery of corporate performance after-crisis

Angel Barajas, Elena Shakina () and Carlos Jardon

Research in International Business and Finance, 2017, vol. 42, issue C, 1115-1122

Abstract: This study explores the recovery in the Market Value Added (MVA) of European companies after the recent global economic crisis in 2008–2009. It introduces empirical evidence that intangible-intensive strategy in human and relational capital reinforces speed of the after-crisis correction for companies. Based on a panel dataset of more than 1600 listed corporations this research aims to discover drivers of Market Value Added trends in 2011–2013. The established results contribute to the understanding of the advantages that companies can exploit for the recovery after systematic shocks of markets. Our study demonstrates that intangible-intensive strategy not always enabled faster recovery speed. Meanwhile, it provided year-to-year acceleration of MVA growth after crisis.

Keywords: Intangibles; Crisis; Recovery; Strategy; Corporate performance; Market value added (MVA) (search for similar items in EconPapers)
JEL-codes: G30 O34 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:42:y:2017:i:c:p:1115-1122

DOI: 10.1016/j.ribaf.2017.07.046

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