Intangible Assets,9780199256938

Intangible Assets

by ;
ISBN13: 9780199256938
ISBN10: 0199256934
Format: Hardcover
Pub. Date: 2003-04-10
Publisher(s): Oxford University Press
List Price: $393.72

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Summary

Wealth and growth in today's economies are driven primarily by intangible assets. Physical and financial assets are rapidly becoming commodities, yielding at best a competitive return on investment. Abnormal profits, dominant market position and even temporary monopolies are most effectively achieved by the sound deployment of intangible assets. The aim of this book is to bring together the best research and thinking in this exciting and rapidly emerging area.

Table of Contents

List of Contributors
xv
Introduction and Overview 1(18)
John R. M. Hand
Baruch Lev
I. INTANGIBLES IN THE MODERN ECONOMY
A Trillion Dollars a Year in Intangible Investment and the New Economy
19(29)
Leonard Nakamura
The Information Economy
48(15)
Carl Shapiro
Hal R. Varian
The Soft Revolution: Achieving Growth by Managing Intangibles
63(32)
Paul Romer
The Stock Market and Investment in the New Economy: Some Tangible Facts and Intangible Fictions
95(28)
Stephen R. Bond
Jason G. Cummins
II. THE IMPACT OF SPECIFIC INTANGIBLES ON FIRM PERFORMANCE AND MARKET VALUE
The Capitalization, Amortization, and Value-relevance of R&D
123(30)
Baruch Lev
Theodore Sougiannis
Brand Values and Capital Market Valuation
153(32)
Mary E. Barth
Michael B. Clement
George Foster
Ron Kasznik
Intellectual Human Capital and the Birth of US Biotechnology Enterprises
185(22)
Lynne G. Zucker
Michael R. Darby
Marilynn B. Brewer
Science and Technology as Predictors of Stock Performance
207(21)
Zhen Deng
Baruch Lev
Francis Narin
The Value Relevance of Trademarks
228(20)
Chandrakanth Seethamraju
Profits, Losses, and the Nonlinear Pricing of Internet Stocks
248(21)
John R. M. Hand
Why Firms Diversify: Internalization vs Agency Behaviour
269(34)
Randall Morck
Bernard Yeung
The Increasing Returns-to-Scale of Intangibles
303(32)
John R. M. Hand
III. THE ADVERSE CONSEQUENCES OF THE INFORMATIONAL DEFICIENCIES OF INTANGIBLES
Off-Balance Sheet R&D Assets and Market Liquidity
335(31)
Jeff P. Boone
K. K. Raman
Information Asymmetry, R&D, and Insider Gains
366(21)
David Aboody
Baruch Lev
The Stock Market Valuation of Research and Development Expenditures
387(28)
Louis K. C. Chan
Josef Lakonishok
Theodore Sougiannis
Why Does Fixation Persist? Experimental Evidence on the Judgement Performance Effects of Expensing Intangibles
415(36)
Joan L. Luft
Michael D. Shields
IV. THE NEED FOR SOLUTIONS
The Growing Intangibles Reporting Discrepancy
451(18)
Margaret Blair
Steven Wallman
Challenges from the New Economy for Business and Financial Reporting
469(18)
Wayne S. Upton, Jr
The Boundaries of Financial Reporting and How to Extend Them
487(24)
Baruch Lev
Paul Zarowin
What Then Must We Do?
511(14)
Baruch Lev
Index 525

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