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The accounting treatment of intangibles – A critical review of the literature

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  • Daniel Zéghal
  • Anis Maaloul

Abstract

Intangible investments have become the main value creators for many companies and economic sectors. However, these investments are rarely recognized as assets by current accounting standards. We provide a critical review of the literature on the consequences of this lack of accounting recognition of intangibles for the value-relevance of financial information, resource allocation in the capital market, growth of intangible investments, and the firm's market value. We then review recent empirical research on voluntary disclosure of information on intangibles. Our survey concludes that disclosure can considered as a solution to the negative consequences of non-recognition of intangibles in financial statements.

Suggested Citation

  • Daniel Zéghal & Anis Maaloul, 2011. "The accounting treatment of intangibles – A critical review of the literature," Accounting Forum, Taylor & Francis Journals, vol. 35(4), pages 262-274, December.
    • Handle: RePEc:taf:accfor:v:35:y:2011:i:4:p:262-274
    DOI: 10.1016/j.accfor.2011.04.003
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    Cited by:

    1. Anna Maria Biscotti & Eugenio D’Amico, 2019. "Does Equity Market Differently Perceive IC Management and Disclosure Behaviours?," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 10(2), pages 756-775, June.
    2. Dyhdalewicz Anna & Widelska Urszula, 2017. "Accouting and marketing dimensions of innovations," Financial Internet Quarterly (formerly e-Finanse), Sciendo, vol. 13(2), pages 1-13, December.
    3. Christian Nielsen & Gunnar Rimmel & Tadanori Yosano, 2015. "Outperforming markets: IC and the long-term performance of Japanese IPOs," Accounting Forum, Taylor & Francis Journals, vol. 39(2), pages 83-96, June.
    4. Ancuta Alina Gheorghe & Moisescu Florentina, 2017. "Study Regarding The Financial Reporting Of Intangible Assets. Case Of Romanian Pharmaceutical Industry," Management Strategies Journal, Constantin Brancoveanu University, vol. 35(1), pages 163-172.
    5. Stephen Penman, 2021. "Accounting for Risk," Foundations and Trends(R) in Accounting, now publishers, vol. 15(4), pages 373-507, November.
    6. Li, Qing & Wu, Yanrui, 2020. "Intangible capital, ICT and sector growth in China," Telecommunications Policy, Elsevier, vol. 44(1).
    7. Biondi, Yuri & Rebérioux, Antoine, 2012. "The governance of intangibles: Rethinking financial reporting and the board of directors," Accounting forum, Elsevier, vol. 36(4), pages 279-293.
    8. Coluccia, Daniela & Dabić, Marina & Del Giudice, Manlio & Fontana, Stefano & Solimene, Silvia, 2020. "R&D innovation indicator and its effects on the market. An empirical assessment from a financial perspective," Journal of Business Research, Elsevier, vol. 119(C), pages 259-271.
    9. Marques, Mário & Pinho, Carlos & Montenegro, Tânia Menezes, 2019. "The effect of international income shifting on the link between real investment and corporate taxation," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 36(C), pages 1-1.
    10. Anna Maria Biscotti & Eugenio D?Amico & Sabato Vinci, 2019. "The effectiveness of intellectual capital disclosure in market assessments of corporate value creation," FINANCIAL REPORTING, FrancoAngeli Editore, vol. 2019(1), pages 5-35.

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