INTELLECTUAL CAPITAL REPORTING AND DISCLOSURE IN THE ANNUAL REPORTS OF ROMANIAN MANUFACTURING LISTED COMPANIES â€" METHODOLOGY AND DISCUSSION OF RESULTS

Bogdan Victoria (), Platon Judit () and Popa Dorina Nicoleta ()
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Bogdan Victoria: University of Oradea, Faculty of Economics
Platon Judit: University of Oradea, Faculty of Economics
Popa Dorina Nicoleta: University of Oradea, Faculty of Economics

Annals of Faculty of Economics, 2011, vol. 1, issue 2, 466-476

Abstract: In our study we have proposed to measure the extent of intellectual capital disclosure using annual reports as the source of our documentation. The empirical analysis is twofold: firstly we are interested in analyzing the value of intellectual capital using a value-based approach, through the evolution of market to book value ratio over the selected period and secondly we carry out a content-based analysis of the complete annual reports of the selected companies over the five year period and calculate an intellectual capital disclosure index. Looking at the figures we can conclude that only 50% of Romanian manufacturing companies hold intellectual capital assets for the period analysed and also they are mostly disclose information that refers to relational capital. The intellectual capital voluntary disclosure index for the 2005-2009 years for the sampled companies is on average almost 19%, considered very low.

Keywords: knowledge; intellectual capital reporting; annual reports; listed companies; disclosure (search for similar items in EconPapers)
JEL-codes: D83 G14 M10 M41 (search for similar items in EconPapers)
Date: 2011
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