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Value‐relevant information on corporate intangibles – creation, use, and barriers in capital markets – “between a rock and a hard place”

Value‐relevant information on corporate intangibles – creation, use, and barriers in capital... The article reveals a need for greater understanding and use of corporate intellectual capital (IC) information within two connected capital market areas. Firstly with regard to the conceptualisation and valuation process these capital market agents (analysts and fund managers) conduct. Secondly, within the capital market agents' own value creation chain. The concept of the value creation chain is combined with an analysis of the barriers faced by capital market agents represented by fund managers and analysts. These barriers are proposed to comprise knowledge, uncertainty, ownership and management problems. In addition, cultural pressures within analyst and fund manager communities are viewed as contributors to information barriers. Such problems are exacerbated by additional market induced problems of severe time constraints and conflicts of interest. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Intellectual Capital Emerald Publishing

Value‐relevant information on corporate intangibles – creation, use, and barriers in capital markets – “between a rock and a hard place”

Journal of Intellectual Capital , Volume 4 (4): 22 – Dec 1, 2003

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References (36)

Publisher
Emerald Publishing
Copyright
Copyright © 2003 MCB UP Ltd. All rights reserved.
ISSN
1469-1930
DOI
10.1108/14691930310504518
Publisher site
See Article on Publisher Site

Abstract

The article reveals a need for greater understanding and use of corporate intellectual capital (IC) information within two connected capital market areas. Firstly with regard to the conceptualisation and valuation process these capital market agents (analysts and fund managers) conduct. Secondly, within the capital market agents' own value creation chain. The concept of the value creation chain is combined with an analysis of the barriers faced by capital market agents represented by fund managers and analysts. These barriers are proposed to comprise knowledge, uncertainty, ownership and management problems. In addition, cultural pressures within analyst and fund manager communities are viewed as contributors to information barriers. Such problems are exacerbated by additional market induced problems of severe time constraints and conflicts of interest.

Journal

Journal of Intellectual CapitalEmerald Publishing

Published: Dec 1, 2003

Keywords: Fund management; Disclosure; Information market

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