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Intellectual Capital Valuation and Stock Market Performance in an Era of Financial Turmoil: Blue Chip Banks Listed in Stock Exchanges of the Visegrad Countries

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  • Jaroslaw Godyn

Abstract

The core purpose of this empirical study is to investigate the influence of intellectual capital on stock market performance of the Visegrad countries in era of financial turmoil. This study is prompted by increasing evidence that the major drivers of value creation focus on a firm’s intangible assets rather than its physical tangibles. In this quantitative analysis, nine listed large banks concentrated in particular national stock exchanges in Prague, Budapest, Warsaw and Bratislava are investigated. The study uses empirical data from Bloomberg Terminal Platform for data management that cover 2006-2012 and Intellectual Capital methods based on market capitalization.

Suggested Citation

  • Jaroslaw Godyn, 2013. "Intellectual Capital Valuation and Stock Market Performance in an Era of Financial Turmoil: Blue Chip Banks Listed in Stock Exchanges of the Visegrad Countries," Theory Methodology Practice (TMP), Faculty of Economics, University of Miskolc, vol. 9(02), pages 53-61.
    • Handle: RePEc:mic:tmpjrn:v:9:y:2013:i:02:p:53-61
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    File URL: http://tmp.gtk.uni-miskolc.hu/volumes/2013/02/TMP_2013_02_07.pdf
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    References listed on IDEAS

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    1. George A. Akerlof, 2009. "How Human Psychology Drives the Economy and Why It Matters," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 91(5), pages 1175-1175.
    2. Laurie Hunter & Elizabeth Webster & Anne Wyatt, 2005. "Measuring Intangible Capital: A Review of Current Practice," Australian Accounting Review, CPA Australia, vol. 15(36), pages 4-21, July.
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    More about this item

    Keywords

    Banking sector; financial crisis; valuation; stock exchange; intellectual capital;
    All these keywords.

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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