Stock analysts' assessments of the shareholder value of intangible assets

Whitwell, Greg; Lukas, Bryan A.; Hill, Paul

doi:10.1016/j.jbusres.2006.09.017

Cited by 39 publications

(39 citation statements)

References 41 publications

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“…Other studies allude to the importance of analysts' forecasts, surmising that if analysts are doubtful of nonfinancial, off-balance sheet assets, stock recommendations are bound to be deficient (Kim and Whitwell, Lukas, and Hill 2007), and the information content of customer satisfaction would be misevaluated by investors (Fornell et al 2006, p. 11). …”

Section: Introductionmentioning

confidence: 99%

Customer Satisfaction, Analyst Stock Recommendations, and Firm Value

Luo

Homburg

Wieseke

2010

Journal of Marketing Research

167

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The IMU offers the following services and expertise: Management Know-HowThe IMU publishes papers geared towards managers in companies. Subjects highly relevant to business practice are presented here in a compact and concise manner, and scientific research results are efficiently communicated. In many cases, these publications are based on application-oriented research and cooperation projects involving a large number of global companies. Scientific Working PapersThe scientific studies conducted by the IMU analyze new trends that have an impact on marketoriented management. On this basis, practice-oriented findings are derived and published in our series of scientific working papers. Today, many of our publications have been printed in prominent journals and honored with awards at international conferences (e.g., by the American Marketing Association). Series PublicationIn addition to publishing scientific working papers, the IMU, in cooperation with Gabler publishing house, issues a series featuring exemplary scientific findings from the field of market-oriented management. Application-oriented ResearchAt IMU, research aims at generating scientific results that are relevant to market-oriented management. Therefore, the IMU offers you the option of submitting concrete questions arising from your company practice, which are then scientifically analyzed.If you require additional information or have any questions, please contact the Institute for MarketOriented Management, University of Mannheim, L5, 1, 68131 Mannheim, Germany (phone: +49 621/ 181-1755) or visit our website at: www.imu-mannheim.com. Overall, our research reveals satisfaction's impact on analyst-based outcomes and firm value metrics and calls attention to the construct of customer satisfaction as a key intangible asset for the investor community. The Institute for Market-Oriented Management

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Section: Introductionmentioning

confidence: 99%

Customer Satisfaction, Analyst Stock Recommendations, and Firm Value

Luo

Homburg

Wieseke

2010

Journal of Marketing Research

167

View full text Add to dashboard Cite

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“…Nessa linha de raciocínio, no que compete ao disclosure das informações econômicas e financeiras, merece relevância o tema "evidenciação de ativos", visto que, quanto mais precisa a avaliação dos ativos, mais acessível fica para o investidor estimar o valor da empresa 10 (WHITWELL; LUKAS; HILL, 2007 A ideia subjacente é que os investidores (usuários externos) investem dinheiro na empresa e os agentes internos possuem a incumbência de aplicá-lo em ativos que trarão benefícios econômicos futuros que consequentemente irão gerar distribuição de lucros para esses investidores. Nesta lógica, os proprietários precisam ter a possibilidade de, nas demonstrações contábeis e notas explicativas, encontrar a adequada evidenciação de onde foram aplicados os recursos investidos por eles (ativos), bem como a adequada informação sobre o seu valor recuperável.…”

Section: Referencial Teóricounclassified

Loss in the Recoverable Value of Assets: Explantory Factors of the Level of Disclosure in Brazilian Public Companies

Souza¹,

Borba²,

Wuerges³

et al. 2015

RUC

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“…Such problems and concerns have frequently led analysts to look at stock markets as an independent valuation source that provides "seemingly objective assessments of a firm's intangible assets" (Whitwell, Lukas, & Hill, 2007). Intangible assets are one of the possible contributors to the disparity between market and book values of companies (Hulten & Hao, 2008).…”

Section: Background -The Difficulties To Value Personal Datamentioning

confidence: 99%

Exploring the economic value of personal information from firms’ financial statements

Feijóo¹,

Gómez-Barroso²,

Voigt³

2014

International Journal of Information Management

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Currently personal data gathering in online markets is done on a far larger scale and much cheaper and faster than ever before. Within this scenario, a number of highly relevant companies for whom personal data is the key factor of production have emerged. However, up to now, the corresponding economic analysis has been restricted primarily to a qualitative perspective linked to privacy issues. Precisely, this paper seeks to shed light on the quantitative perspective, approximating the value of personal information for those companies that base their business model on this new type of asset. In the absence of any systematic research or methodology on the subject, an ad hoc procedure is developed in this paper. It starts with the examination of the accounts of a number of key players in online markets. This inspection first aims to determine whether the value of personal information databases is somehow reflected in the firms' books, and second to define performance measures able to capture this value. After discussing the strengths and weaknesses of possible approaches, the method that performs best under several criteria (revenue per data record) is selected. From here, an estimation of the net present value of personal data is derived, as well as a slight digression into regional differences in the economic value of personal information.

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Stock analysts' assessments of the shareholder value of intangible assets

Cited by 39 publications

References 41 publications

Customer Satisfaction, Analyst Stock Recommendations, and Firm Value

Customer Satisfaction, Analyst Stock Recommendations, and Firm Value

Loss in the Recoverable Value of Assets: Explantory Factors of the Level of Disclosure in Brazilian Public Companies

Exploring the economic value of personal information from firms’ financial statements

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