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Purpose: The purpose of this paper is to review literature devoted to intangibles and their valuation and give examples of the methods that can be used for valuation of individual intangibles in financial terms.Design/methodology: The paper presents a systematic review of articles dedicated to intangibles and their valuation. Originality/value: Basic definitions and differences between intangibles, intangible assets, identifiable intangible assets, knowledge assets and intellectual capital have not been mentioned in one paper yet. List of intangibles and methods for their valuation gives a direction for future work that can be fruitful for valuation of intangibles.

The paper deals with an analysis of political and economic factors influencing the country risk. We examinate economical and political factors that are related to the country risk. We provide assessment based on country the economic and financial difficulties that countries face, as well as on the investment environments. At the beginning of the paper we provide the framework for understanding the nature of country risk, we discuss ideas of renowned authors from different perspectives in regard to political and economic variables that might affect country risk. The main contribution of this paper is an analysis consisting of testing the significance of selected political and economic factors on the risk of selected European countries based on an econometric model using panel regression. We conclude the GDP per capita, inflation, unemployment, gross government debt, current account balance, international investment position and political control index of corruption and the rule of law are the main factors influencing country risk in our analysis. Based on the regression analysis we select groups of countries with highest similarieties and analyse them in detail.

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Nowadays in Ukrainian realities decentralization, as a process of expanding and strengthening the rights and powers of administrative-territorial units, contributes to the development of financial innovations, the accessibility of public goods, and improvements in the quality of life of the population.The aim of the article goal is developing the recommendations for improving the financial support of the regions by introducing new tools of influence of communities and local self-governments on the economic growth of territories.Using the methods of factor analysis, regression analysis, and significant components, the article determines the impact of regional economic development on the revenues of local budgets. The empirical findings show the close correlation between budgetary decentralization and industrial capabilities of the regions. A cluster analysis was carried out to identify the asymmetries of regional development in terms of financial capacity. It enabled to distinguish homogeneous groups of areas according to the indicators of their economic development. On this basis the authors substantiated the necessity of entrepreneurial activity stimulating, increasing the number of companies, and promoting a continuous flow of goods (works, services) from the producer to the consumer in different regions of Ukraine.

The impact of corporate intangibles on a company’s market value has been a widely debated topic. A large body of literature has separately examined the industry’s effect- or firm-specific attributes, such as industry type, company size, company age, or indebtedness and profitability, on the motivation to disclose information on intangible assets, but without considering a comprehensive view. This paper examines the role intangible assets play in a firm’s market valuation besides other firm-specific characteristics. The reducted dataset we use in this study comprises 250 publicly traded companies operating in four different business sectors in France, Germany, and Switzerland for the ten years from 2009 to 2018. Based on the panel data regression models, the study provides an extension of previous knowledge about the effect intangible assets may have on the investors’ view of a company’s value, where the value added of this paper is the empirical evidence of a possible link between the intangible assets’ disclosure and the market value of German, French, and Swiss enterprises. The importance of our contribution lies in a comparative analysis carried out to reveal substantial differences in the impact of intangible assets and innovation activity on the market value firms in three European countries and across four industry sectors. Although the results show the positive impact of intangible assets on the companies’ market value, we suggest that investors still assess companies based on their profitability rather than considering the information on intangible assets the enterprises disclose in their financial statements.

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