Intellectual Capital Disclosures in IPO Prospectuses of Indian Companies

Bhatia, Meena; Agarwal, Bhawna

doi:10.3126/ijssm.v2i1.11685

Cited by 6 publications

(6 citation statements)

References 29 publications

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“…By comparing the Canadian context with others, such as the Danish context studied by Bukh and al., (2005), the Italian context which was the focus of Cordazzo (2007) or even the Japanese context studied by Rimmel and al. (2009), Bhatia and Agarwal (2015) in Indian context, it appears that our results have been confirmed. In fact, during an IPO, the investors are interested in information about the company's intellectual capital in which they wish to participate.…”

Section: Conclusion and Discussionsupporting

confidence: 77%

Determinants of intellectual capital disclosure in initial public offerings: case of Canadian firms

Ghorbel

Elleuch

2016

IJAES

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The purpose of this paper is to investigate the determinants of intellectual capital information's of firms that went through IPO. Our sample includes 43 firms that IPOs listed in the Toronto Stock Exchange in 2012 of which the prospectuses for the initial public offering are available. Our study, unlike other studies focuses on the issuing prospectuses. The paper applied a disclosure index comprising of 78 items (Bukh and al (2005)) to quantify the amount of information regarding intellectual capital included in the IPO prospectuses of canadian firms. Multiple regression model and Correlation is used. The results revealed that the managerial ownership, the presence of an audit committee and industry are significantly associated with the voluntary disclosure of information about the intellectual capital in prospectuses. While firm size, age, the audit committee' activity and audit quality do not affect disclosure. The results are interpreted in the light of the increasing importance of disclosing information on intellectual capital to the capital market a in case of IPO and constitute a contribution to the ongoing debate on corporate reporting practices.

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Section: Conclusion and Discussionsupporting

confidence: 77%

Determinants of intellectual capital disclosure in initial public offerings: case of Canadian firms

Ghorbel

Elleuch

2016

IJAES

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“…ICD can be considered to reduce information asymmetry and agency costs because it will be seen as responsible for the performance of business management. The above theory is also supported by previous studies conducted by (Setianto & Purwanto, 2014), (Nafisah & Meiranto, 2017) and (Bhatia & Agarwal, 2015) that firm size has an impact on ICD. Based on this description, the hypothesis to be tested is as follows: H1: Firm size has an impact on ICD…”

Section: Hypothesis Development the Impact Of Firm Size On Intellectu...supporting

confidence: 84%

“…The first factor that is thought to have an impact on ICD is company size. Based on the results of studies (Setianto & Purwanto, 2014), (Nafisah & Meiranto, 2017) and (Bhatia & Agarwal, 2015) shows that firm size has a positive and significant effect on ICD. On the contrary, (Morariu, 2013) found in his research that firm size has no effect on ICD.…”

Section: Introductionmentioning

confidence: 99%

Impact of Size, Leverage, Profitability, Age and Independent Commissioners on Intellectual Capital Disclosure

Nasution,

Junaidi

2023

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The publishing of PSAK No. 19 on intangible assets marked the beginning of the idea of intellectual capital in Indonesia. It turns out that even while Indonesia has seen an increase in the disclosure of intellectual property, it is still a very little rise. Companies in Indonesia should be compelled to declare their intellectual property, especially those in the finance industry. This is because the financial services sector employs more intellectual capital in its operations than the industrial sector, which is heavily reliant on information and hence needs more on tangible assets. The purpose of this study is to ascertain how business age, leverage, profitability, and independent commissioners affect the disclosure of intellectual property. This study used a sample of 83 financial sector businesses that were listed on the Indonesia Stock Exchange in 2020–2021. There were 105 enterprises in the population overall. Panel data regression analysis with the Eviews programme version 12 is used in this study. The results of this study show that company age, debt, and business size all have positive and significant effects on the disclosure of intellectual capital. Profitability and the presence of independent commissioners, however, have little bearing on the disclosure of intellectual property. This study also shows that a variety of factors, like firm age, profitability, leverage, and independent commissioners, might affect the disclosure of intellectual property. Keywords: Determinant, Intellectual Capital Disclosure

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“…There are no studies which analyse the extent of ICD and its determinants for firms across sectors. Recent research on 33 initial public offering (IPO) prospectuses finds that age, size, board independence, leverage and industry type all make an impact on the level of ICD (Bhatia and Agarwal, 2015). Another study focuses on 30 knowledge-intensive firms and finds that age of the firm, size, leverage, value added intellectual coefficient (VAIC) and profitability all have a significant relationship with ICD (Mondal and Ghosh, 2014).…”

Section: Review Of Literature and Hypothesis Developmentmentioning

confidence: 99%

Determinants of intellectual capital disclosure: evidence from India

Kamath

2017

JFRA

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Purpose This paper aims at exploring the extent and determinants of intellectual capital disclosure (ICD) in India. Design/methodology/approach Content of annual reports of 200 firms classified on their market capitalization is analysed using search terms to find out the extent and nature of disclosure. The period of study is 2010-11 and 2013-14. Paired t-test is used to see if there is any significant change in the level of disclosure between two time periods. The various determinants and their impacts are captured using a regression equation. Findings The analysis showed evidence that market capitalization, ownership and age of the firms are the major determinants of ICD in India. Performance, size and type of industry mattered only for large-cap firms. Disclosure levels are seen to increase with market capitalization. Human capital and external capital is highly reported by all categories of firms. The overall disclosure by all categories has significantly increased, whereas that of human capital and external capital has increased significantly only in small-cap and mid-cap firms. Originality/value This paper looks at size, market and performance-related variables and their impact on the extent of disclosure. It takes representative firms from three indices based on their market capitalization and evaluates them, thus making results and findings reliable. This is the first paper which takes a large cross section sample from across 12 sectors and also performs a longitudinal analysis. This paper is of interest to managers of firms who can affect the policies of their firms in making robust changes in disclosure practices.

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Intellectual Capital Disclosures in IPO Prospectuses of Indian Companies

Cited by 6 publications

References 29 publications

Determinants of intellectual capital disclosure in initial public offerings: case of Canadian firms

Determinants of intellectual capital disclosure in initial public offerings: case of Canadian firms

Impact of Size, Leverage, Profitability, Age and Independent Commissioners on Intellectual Capital Disclosure

Determinants of intellectual capital disclosure: evidence from India

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