The impact of intangibles on the value-relevance of financial information

Peh, Wee Liong (2002). The impact of intangibles on the value-relevance of financial information Master's Thesis, School of Business, The University of Queensland.

       
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Author Peh, Wee Liong
Thesis Title The impact of intangibles on the value-relevance of financial information
School, Centre or Institute School of Business
Institution The University of Queensland
Publication date 2002
Thesis type Master's Thesis
Total pages 83
Language eng
Subjects 1502 Banking, Finance and Investment
Formatted abstract This study examines the impact of intangibles on the value-relevance of financial information over the period of 1992 to 2000. Using the basis of Ohlson's model, this research report included other financial and firm characteristic variables like operating cash flows, size, age and intangibles into the model. The objective is to examine alternative valuation model to see whether intangible-intensive industries provide a better valuation than non-intangible-intensive industries.

The overall results of this study indicates that the "combined explanatory power of earnings, book value, size and age", and the "combined explanatory power of earnings, book value, size and adjusted intangible-to-book value ratio" are best fitted in non-intangible-intensive and intangible-intensive category respectively. These results also show that intangible-intensive industries provide a better valuation than non-intangible-intensive industries. Hence, the impact of intangibles increases the value-relevance of financial information during the sample period of 1992 to 2000 in Australia.

 
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Created: Fri, 01 Oct 2010, 09:49:21 EST by Ning Jing on behalf of Social Sciences and Humanities Library Service