Intangibles Investments and Accounting Numbers Usefulness: an Empirical Study of the European Stock Market

Jean-Francois Casta (), Olivier Ramond () and Lionel Escaffre ()
Additional contact information
Olivier Ramond: DRM - Dauphine Recherches en Management - Université Paris Dauphine-PSL - PSL - Université Paris Sciences et Lettres - CNRS - Centre National de la Recherche Scientifique
Lionel Escaffre: GRANEM - Groupe de Recherche Angevin en Economie et Management - UA - Université d'Angers - AGROCAMPUS OUEST - Institut National de l'Horticulture et du Paysage

Post-Print from HAL

Abstract: Motivated by the recent works by Lev [2001b ; 2004] and Villalonga [2004], and the current debate surrounding the international financial reporting standard n°38 (i.e. IAS 38) adoption related to reported intangible investment issues, this study investigates whether European firms using national generally accounting principles (hereafter, GAAP) exhibit differences while considering the relationship between firm performance and reported intangible investment. Using a four-representative-European-country (i.e. France, Germany, Spain and U.K.) dynamic data panel, we investigate whether intangible accounting numbers in these different settings can be significantly linked, during the period 1993-2003, to the following firm performance triptych: financial, operational and competitive performance. Reported intangible investment is measured herein by three accounting proxies: the change in goodwill stock [see Griliches, 1981], the change in reported intangible assets stock [see Hall, 2000] and the research and development (R&D) expenditures.

Date: 2005-10-20
Note: View the original document on HAL open archive server: https://hal.science/hal-00769333v1
References: View references in EconPapers View complete reference list from CitEc
Citations:

Published in 1st European Institute for Advanced Studies in Management (EIASM) : "Visualising, Measuring, and Managing Intangibles and Intellectual Capital "., Oct 2005, Ferrara, Italy

Downloads: (external link)
https://hal.science/hal-00769333v1/document (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00769333

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().