Categorising intangible assets: are the new accounting standards consistent with practice?

Cheng, Meng; Hsiao, Tzy Yih; Lin, Jer Yan

doi:10.1504/ijss.2008.016633

Cited by 3 publications

(2 citation statements)

References 18 publications

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“…Each function has to build its own intangible assets in order to deliver and convert them to financial performance. Cheng et al (2008) verified the accounting rationality of intangible assets classification from the management perspective (customer capital, human capital, process capital, innovation capital and contract capital) using the Tobit censoring method to analyze the composition of related intangible assets. The study provides some references for the control of intangible assets so managers can realize what kind of intangible assets to manage and decide how to do so and add value to the intellectual capital.…”

Section: Literature Reviewmentioning

confidence: 87%

Intangible asset management framework for long‐term financial performance

Chareonsuk¹,

Chansa-ngavej²

2008

Industrial Management &Amp; Data Systems

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PurposeThis paper aims to propose a framework for intangible asset management in business and industrial organizations. The proposed framework is applied to a case example company in the Stock Exchange of Thailand.Design/methodology/approachThe proposed framework refines the strategy map concept in the balanced scorecard approach for use in intangible asset management. There are two phases, the top‐down phase involving a four‐step intangible asset identification process and the bottom‐up phase establishing the cause‐effect relationships between the intangible assets of the various functional departments in the organization and its financial performance.FindingsIntangible assets belong to different functional departments. They must be carefully monitored and properly nurtured by the organization. Intangible assets depend not only on the type of functional departments but also the type of industries. To be competitive in today's knowledge economy, it is vital for business and industry to identify and locate the intangible assets in their functional departments and then establish how they contribute to the financial performance of the organization.Originality/valueUnderstanding of the framework will lead to tangible benefits and competitive advantage once the intangible assets are brought under control, properly managed, and suitably funded.

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Section: Literature Reviewmentioning

confidence: 87%

Intangible asset management framework for long‐term financial performance

Chareonsuk¹,

Chansa-ngavej²

2008

Industrial Management &Amp; Data Systems

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“…Balanced scorecard can comprise all activities needed to implement the strategy. Most of the previous empirical studies use the subjective opinion survey questionnaire to find the interrelationship while there are only two previous studies during last five years, namely Chin et al (2005) and Cheng et al (2008), that gather the available financial data.…”

Section: Literature Reviewmentioning

confidence: 99%

Intangible asset management framework: an empirical evidence

Chareonsuk

Chansa-ngavej

2010

Industrial Management &Amp; Data Systems

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PurposeThe purpose of this paper is to explore the interrelationships of intangible assets to business performance. The paper reports an empirical evidence for the impact of three elements of intangible assets: learning and growth, internal business process, and external structure on the business performance of the firm. The linkages between intangible asset elements and business performance are investigated in companies of various business sizes, business sectors and establishment ages.Design/methodology/approachThe proposed model was adapted from the balanced scorecard strategy map. The primary data for analyzing and investigating the interrelationships between intangible assets and business performance were gathered by subjective opinion survey questionnaire. In all, 3,084 questionnaires were distributed to the top management. The numbers of qualified responses were 304 and the data were analyzed using the structural equation modeling technique.FindingsThe commonly assumed causal relationships are confirmed, i.e. the element of learning and growth has influence on internal business process, the element of internal process has effect on external structure, and the element of external structure, in turn, has effect on business performance.Originality/valueFollowing the research findings, top management in companies of different sizes, business sectors, and establishment ages should understand the nature of interrelationships and recognize the importance of intangible assets. These findings will enable top management to realize the impact of intangible asset elements on business performance so that long‐term strategies for effective intangible asset management may be emphasized for sustainable competitive advantage of the firm.

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