Διεθνές λογιστικό πρότυπο 38 : άυλα περιουσιακά στοιχεία
Resumen
This paper examines the consequences and effects on the financial statements
under the International Accounting Standard (IAS) 38, Intangible Assets. The paper
also investigates more intangibles-related issues, such as goodwill, R&D, plus the
profitability of companies which have intangible assets. The sample consists of 241
UK industrial firms that are listed on the London Stock Exchange, while the period
under analysis is 1 January to 31 December 2005, with some exceptions to spring or
summer of 2006 with relative starting date. The study shows that the firms that have
intangible assets have improved key financial measures such as leverage, profitability
and growth rather that the firms that haven t. Firms with intangible assets would tend
to borrow more often and try to expand more. For example, the study indicates that
large firms with intangible assets would pay a larger dividend per share in order to
attract investors whilst they are having liquidity problems and their debt ratios are
larger than those that haven t. However, the results show that firms that present
intangible assets at their balance sheet tend to exhibit more favourable financial
results compared to firms that don t. Similar findings are obtained for firms that have
goodwill and R&D expenses. The more profitable firms are usual to have intangible
assets rather than the firms that are less profitable. The IAS 38 is being implemented
thoroughly, by the firms at the London Stock Exchange at least, and it shows the
strength behind the intellectual capital, brand names, goodwill, investments on
projects and the means to more profitable results.
Academic publisher
Πανεπιστήμιο Θεσσαλίας. Σχολή Ανθρωπιστικών και Κοινωνικών Επιστημών. Τμήμα Οικονομικών Επιστημών.