The Importance of Intangible Assets in the Hotel Industry: The Case of Croatia and Slovenia

Abstract

Studies show an increasing importance of intangible assets (hereinafter IA) and a positive relationship between IA and company performance. The purpose of this paper is to analyse the importance of IA for Croatian and Slovene hotel companies and to find out whether companies with a higher share of intangibles are also more profitable. The analysis is based on publicly available financial statements for the five-year period, from 2011 to 2015. The results show that the average share of IA presented in the balance sheets of the analysed hotel companies is low in both countries. Moreover, we could not find a statistically significant relationship between the share of IA and the selected financial performance indicators. The results of our study show that despite the emphasised importance of IA in literature, the publicly available financial data of the selected hotel companies provides very limited information on IA for external stakeholders.

Ativos e Passivos Intangíveis: Uma análise da Rentabilidade e Produtividade das Empresas de Capital Aberto Listadas no Brasil

“…Ancorado na Visão Baseada em Recursos (VBR), Barney (1991) defende que a vantagem competitiva de uma empresa se dá em função da posse de recursos valiosos, raros e de difícil imitação ou substituição. Neste sentido, alguns recursos produzidos interna ou externamente, como as marcas, as licenças de tecnologias, as patentes, os direitos autorais, de exploração ou de operação e as competências econômicas desenvolvidas pelas empresas, podem desempenhar um papel fundamental para a criação de vantagens competitivas nas mais diversas organizações (ANDONOVA; RUÍZ-PAVA, 2016;JERMAN;JANKOVIC, 2018). Este conjunto de recursos, comumente definidos como ativos intangíveis (Tabela 01), se manifestam de forma dissociada às estruturas físicas da firma e podem derivar ganhos futuros significativos (LUCA et al, 2014;JERMAN;JANKOVIC, 2018).…”

Sustainability of Spanish Tourism Start-Ups in the Face of an Economic Crisis

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