The relation of intellectual capital disclosure strategies and market value in two political settings

The relation of intellectual capital disclosure strategies and market value in two political... Purpose – The purpose of this paper is to investigate whether the political setting (civil war versus temporary truce) in a country has an influence on firms' current narrative, visual, and numerical intellectual capital disclosure being included in the current market value of equity. Design/methodology/approach – Using content analysis for data generation, this study identifies narrative, visual, and numerical intellectual capital disclosure in firms' annual reports. Financial data were obtained from firms' annual reports and the stock exchange. Fixed effect panel regression was conducted separately for the civil war period and temporary truce period. Findings – The paper finds that during the period entirely beset by civil war, the current market value of equity includes net book value and current earnings only, and does not include narrative, visual, or numerical intellectual capital disclosure. During the period of temporary truce, the current market value of equity includes net book value, current earnings, and narrative disclosure, but not visual or numerical intellectual capital disclosure. Practical implications – The findings provide insights into the effectiveness of disclosure strategies in politically unstable environments. Originality/value – This study analyses the disclosure strategies in a civil war and temporary truce context. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Intellectual Capital Emerald Publishing

The relation of intellectual capital disclosure strategies and market value in two political settings

Journal of Intellectual Capital, Volume 12 (2): 20 – Apr 19, 2011

Loading next page...
 
/lp/emerald-publishing/the-relation-of-intellectual-capital-disclosure-strategies-and-market-oYN1OKQjvF
Publisher
Emerald Publishing
Copyright
Copyright © 2011 Emerald Group Publishing Limited. All rights reserved.
ISSN
1469-1930
DOI
10.1108/14691931111123449
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to investigate whether the political setting (civil war versus temporary truce) in a country has an influence on firms' current narrative, visual, and numerical intellectual capital disclosure being included in the current market value of equity. Design/methodology/approach – Using content analysis for data generation, this study identifies narrative, visual, and numerical intellectual capital disclosure in firms' annual reports. Financial data were obtained from firms' annual reports and the stock exchange. Fixed effect panel regression was conducted separately for the civil war period and temporary truce period. Findings – The paper finds that during the period entirely beset by civil war, the current market value of equity includes net book value and current earnings only, and does not include narrative, visual, or numerical intellectual capital disclosure. During the period of temporary truce, the current market value of equity includes net book value, current earnings, and narrative disclosure, but not visual or numerical intellectual capital disclosure. Practical implications – The findings provide insights into the effectiveness of disclosure strategies in politically unstable environments. Originality/value – This study analyses the disclosure strategies in a civil war and temporary truce context.

Journal

Journal of Intellectual CapitalEmerald Publishing

Published: Apr 19, 2011

Keywords: Intellectual capital; Capitalization; Political economy; Narratives

References

You’re reading a free preview. Subscribe to read the entire article.


DeepDyve is your
personal research library

It’s your single place to instantly
discover and read the research
that matters to you.

Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.

All for just $49/month

Explore the DeepDyve Library

Search

Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly

Organize

Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.

Access

Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.

Your journals are on DeepDyve

Read from thousands of the leading scholarly journals from SpringerNature, Wiley-Blackwell, Oxford University Press and more.

All the latest content is available, no embargo periods.

See the journals in your area

DeepDyve

Freelancer

DeepDyve

Pro

Price

FREE

$49/month
$360/year

Save searches from
Google Scholar,
PubMed

Create folders to
organize your research

Export folders, citations

Read DeepDyve articles

Abstract access only

Unlimited access to over
18 million full-text articles

Print

20 pages / month

PDF Discount

20% off