Accounting for Intangibles in the Age of Cultural Branding: From Goodwill to Invisibility

Georgia Karakousis ()
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Georgia Karakousis: University of West Attica

A chapter in Strategic Innovative Marketing and Tourism, 2026, pp 467-475 from Springer

Abstract: Abstract In today’s experience and symbolism-driven economy, corporate value is progressively shifting from tangible to intangible assets. Particularly in the fields of cultural tourism and cultural entrepreneurship, intangible factors, such as reputation, historicity, cultural identity, aesthetics, and the emotional engagement of the public, acquire strategic importance. This study adopts a multidisciplinary approach and explores the challenges posed to the accounting discipline, which is increasingly required to measure, evaluate, and disclose economic dimensions that are not readily quantifiable by traditional tools. The theoretical underpinnings of the paper are drawn tools from accounting for intangible assets, cultural economy, and social accounting, with the aim of proposing an expanded framework for assessing cultural value-added. Ultimately, we conclude that accounting can no longer be neutral or restricted solely to quantifiable data. Instead, it must respond to the complexity of cultural production and integrate value dimensions that have traditionally been treated as “off-balance-sheet.” In an era where tradition becomes brand and culture becomes capital, transparency and fair valuation of cultural contribution are essential—not only for economic accuracy but also for cultural justice.

Keywords: Intangible assets; Goodwill; Cultural economy (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-032-12968-0_51

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DOI: 10.1007/978-3-032-12968-0_51

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