<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>In recent years, companies have begun to promote an economy based on knowledge and information, characterized by rapid economic changes, so the production of tangible goods has no longer been the main source of value, this being replaced by the creation and management of intangible assets, which are often not reflected in the accounting documents at the real market value because of the restrictive criteria for accounting valuation and recognition. Nowadays, the economy is based mainly on intangible assets and therefore they must be recognized in the financial statements of the companies, so that the shareholders and the investors have a clearer picture of company value. This paper aims to propose a model that can analyze the effects of intellectual capital and subcomponents of intangible assets on company value and the sustainable growth of firms listed on the Bucharest Stock Exchange. Until now, it is unknown which kind of sub-components of intangible assets make firms listed at Bucharest Stock Exchange to have sustainable growth or are more useful to enhance firm value. The proposed model includes data referring to intellectual capital, computerized information, innovative property, economic competences and VEKTOR index, which was developed by the Romanian Investor Relations Association so that the shareholders and the investors have a clearer picture of company when it comes to Relationship with Investors, Corporate Governance, Proactive Approach in IR, Interactive IR Instruments, Coverage by Financial Analysts and Sustainability.</p>
</abstract>

In recent years, companies have begun to promote an economy based on knowledge and information, characterized by rapid economic changes, so the production of tangible goods has no longer been the main source of value, this being replaced by the creation and management of intangible assets, which are often not reflected in the accounting documents at the real market value because of the restrictive criteria for accounting valuation and recognition. Nowadays, the economy is based mainly on intangible assets and therefore they must be recognized in the financial statements of the companies, so that the shareholders and the investors have a clearer picture of company value. This paper aims to propose a model that can analyze the effects of intellectual capital and subcomponents of intangible assets on company value and the sustainable growth of firms listed on the Bucharest Stock Exchange. Until now, it is unknown which kind of sub-components of intangible assets make firms listed at Bucharest Stock Exchange to have sustainable growth or are more useful to enhance firm value. The proposed model includes data referring to intellectual capital, computerized information, innovative property, economic competences and VEKTOR index, which was developed by the Romanian Investor Relations Association so that the shareholders and the investors have a clearer picture of company when it comes to Relationship with Investors, Corporate Governance, Proactive Approach in IR, Interactive IR Instruments, Coverage by Financial Analysts and Sustainability.

The need for rethinking the model of assessing value in the digital economy context

Management National University of Political Studies and Public Administration

Proceedings of the International Conference on Business Excellence

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

In recent years, companies have begun to promote an economy based on knowledge and information, characterized by rapid economic changes, so the production of...

The need for rethinking the model of assessing value in the digital economy context

Publié en ligne: 27 juil. 2020

Pages: 170 - 181

DOI: https://doi.org/10.2478/picbe-2020-0017

Mots clés
Intangible assets, Sustainable growth rate, Firm value, VEKTOR, Bucharest Stock Exchange

© 2020 Cătălin Gabriel Ioniţă, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

The need for rethinking the model of assessing value in the digital economy context

Publié en ligne: 27 juil. 2020

Pages: 170 - 181

DOI: https://doi.org/10.2478/picbe-2020-0017

Mots clésIntangible assets, Sustainable growth rate, Firm value, VEKTOR, Bucharest Stock Exchange

© 2020 Cătălin Gabriel Ioniţă, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Mots clés
Intangible assets, Sustainable growth rate, Firm value, VEKTOR, Bucharest Stock Exchange