The effect of regional differences on the value-relevance proposition for intangible assets
Autor*in: |
Lim, Kwangsoo [verfasserIn] Jones, Wesley M. [verfasserIn] |
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Format: |
E-Artikel |
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Sprache: |
Englisch |
Erschienen: |
2022 |
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Übergeordnetes Werk: |
Enthalten in: International journal of finance & banking studies - Istanbul : [Verlag nicht ermittelbar], 2012, 11(2022), 4 vom: Okt., Seite 89-94 |
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Übergeordnetes Werk: |
volume:11 ; year:2022 ; number:4 ; month:10 ; pages:89-94 |
Links: |
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DOI / URN: |
10.20525/ijfbs.v11i4.2348 |
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Katalog-ID: |
1844097978 |
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10.20525/ijfbs.v11i4.2348 doi (DE-627)1844097978 (DE-599)KXP1844097978 DE-627 ger DE-627 rda eng Lim, Kwangsoo verfasserin (DE-588)1276456689 (DE-627)1830005960 aut The effect of regional differences on the value-relevance proposition for intangible assets Kwangsoo Lim, Wesley M. Jones 2022 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Financial disclosure (dpeaa)DE-206 Intangible assets (dpeaa)DE-206 Regional difference (dpeaa)DE-206 Value relevance (dpeaa)DE-206 Jones, Wesley M. verfasserin aut Enthalten in International journal of finance & banking studies Istanbul : [Verlag nicht ermittelbar], 2012 11(2022), 4 vom: Okt., Seite 89-94 Online-Ressource (DE-627)751911763 (DE-600)2724514-7 (DE-576)391215892 2147-4486 nnns volume:11 year:2022 number:4 month:10 pages:89-94 https://www.ssbfnet.com/ojs/index.php/ijfbs/article/download/2348/1684/8597 Verlag kostenfrei https://doi.org/10.20525/ijfbs.v11i4.2348 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_206 GBV_ILN_213 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_2014 GBV_ILN_4012 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 11 2022 4 10 89-94 26 01 0206 4317364921 x1z 02-05-23 2403 01 DE-LFER 4324072698 00 --%%-- --%%-- n --%%-- l01 20-05-23 2403 01 DE-LFER https://doi.org/10.20525/ijfbs.v11i4.2348 2403 01 DE-LFER https://www.ssbfnet.com/ojs/index.php/ijfbs/article/download/2348/1684/8597 26 00 DE-206 We examine the value relevance of intangibles reported by technology firms in electronics industries and any regional difference between Southern and non-Southern firms in the relative importance of how value relevance is reported. For technology firms, the essential asset in their valuation is intellectual property, which idiosyncratic accounting practices could have either capitalized or expensed. We are interested in the intangible assets and goodwill on balance sheets and amortization expenses from income statements, which together capture the magnitude of a firm's intellectual property. We present evidence that the market value of a firm is negatively associated with the size of its intangibles but positively associated with the size of goodwill and amortization expenses. We find that this relationship between the market value of a firm and measures of intangibles is statistically stronger for Southern firms than for non-Southern firms. We interpret this finding as a manifestation of stronger accounting conservatism among Southern firms due to regional cultural differences. We find that the value relevance of intangibles weakened significantly during the 2008 financial crisis, and we interpret the intertemporal difference as a spillover effect of the stringent application of the fair value accounting standard (SFAS 157) to financial assets. |
allfields_unstemmed |
10.20525/ijfbs.v11i4.2348 doi (DE-627)1844097978 (DE-599)KXP1844097978 DE-627 ger DE-627 rda eng Lim, Kwangsoo verfasserin (DE-588)1276456689 (DE-627)1830005960 aut The effect of regional differences on the value-relevance proposition for intangible assets Kwangsoo Lim, Wesley M. Jones 2022 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Financial disclosure (dpeaa)DE-206 Intangible assets (dpeaa)DE-206 Regional difference (dpeaa)DE-206 Value relevance (dpeaa)DE-206 Jones, Wesley M. verfasserin aut Enthalten in International journal of finance & banking studies Istanbul : [Verlag nicht ermittelbar], 2012 11(2022), 4 vom: Okt., Seite 89-94 Online-Ressource (DE-627)751911763 (DE-600)2724514-7 (DE-576)391215892 2147-4486 nnns volume:11 year:2022 number:4 month:10 pages:89-94 https://www.ssbfnet.com/ojs/index.php/ijfbs/article/download/2348/1684/8597 Verlag kostenfrei https://doi.org/10.20525/ijfbs.v11i4.2348 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_206 GBV_ILN_213 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_2014 GBV_ILN_4012 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 11 2022 4 10 89-94 26 01 0206 4317364921 x1z 02-05-23 2403 01 DE-LFER 4324072698 00 --%%-- --%%-- n --%%-- l01 20-05-23 2403 01 DE-LFER https://doi.org/10.20525/ijfbs.v11i4.2348 2403 01 DE-LFER https://www.ssbfnet.com/ojs/index.php/ijfbs/article/download/2348/1684/8597 26 00 DE-206 We examine the value relevance of intangibles reported by technology firms in electronics industries and any regional difference between Southern and non-Southern firms in the relative importance of how value relevance is reported. For technology firms, the essential asset in their valuation is intellectual property, which idiosyncratic accounting practices could have either capitalized or expensed. We are interested in the intangible assets and goodwill on balance sheets and amortization expenses from income statements, which together capture the magnitude of a firm's intellectual property. We present evidence that the market value of a firm is negatively associated with the size of its intangibles but positively associated with the size of goodwill and amortization expenses. We find that this relationship between the market value of a firm and measures of intangibles is statistically stronger for Southern firms than for non-Southern firms. We interpret this finding as a manifestation of stronger accounting conservatism among Southern firms due to regional cultural differences. We find that the value relevance of intangibles weakened significantly during the 2008 financial crisis, and we interpret the intertemporal difference as a spillover effect of the stringent application of the fair value accounting standard (SFAS 157) to financial assets. |
allfieldsGer |
10.20525/ijfbs.v11i4.2348 doi (DE-627)1844097978 (DE-599)KXP1844097978 DE-627 ger DE-627 rda eng Lim, Kwangsoo verfasserin (DE-588)1276456689 (DE-627)1830005960 aut The effect of regional differences on the value-relevance proposition for intangible assets Kwangsoo Lim, Wesley M. Jones 2022 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Financial disclosure (dpeaa)DE-206 Intangible assets (dpeaa)DE-206 Regional difference (dpeaa)DE-206 Value relevance (dpeaa)DE-206 Jones, Wesley M. verfasserin aut Enthalten in International journal of finance & banking studies Istanbul : [Verlag nicht ermittelbar], 2012 11(2022), 4 vom: Okt., Seite 89-94 Online-Ressource (DE-627)751911763 (DE-600)2724514-7 (DE-576)391215892 2147-4486 nnns volume:11 year:2022 number:4 month:10 pages:89-94 https://www.ssbfnet.com/ojs/index.php/ijfbs/article/download/2348/1684/8597 Verlag kostenfrei https://doi.org/10.20525/ijfbs.v11i4.2348 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_206 GBV_ILN_213 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_2014 GBV_ILN_4012 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 11 2022 4 10 89-94 26 01 0206 4317364921 x1z 02-05-23 2403 01 DE-LFER 4324072698 00 --%%-- --%%-- n --%%-- l01 20-05-23 2403 01 DE-LFER https://doi.org/10.20525/ijfbs.v11i4.2348 2403 01 DE-LFER https://www.ssbfnet.com/ojs/index.php/ijfbs/article/download/2348/1684/8597 26 00 DE-206 We examine the value relevance of intangibles reported by technology firms in electronics industries and any regional difference between Southern and non-Southern firms in the relative importance of how value relevance is reported. For technology firms, the essential asset in their valuation is intellectual property, which idiosyncratic accounting practices could have either capitalized or expensed. We are interested in the intangible assets and goodwill on balance sheets and amortization expenses from income statements, which together capture the magnitude of a firm's intellectual property. We present evidence that the market value of a firm is negatively associated with the size of its intangibles but positively associated with the size of goodwill and amortization expenses. We find that this relationship between the market value of a firm and measures of intangibles is statistically stronger for Southern firms than for non-Southern firms. We interpret this finding as a manifestation of stronger accounting conservatism among Southern firms due to regional cultural differences. We find that the value relevance of intangibles weakened significantly during the 2008 financial crisis, and we interpret the intertemporal difference as a spillover effect of the stringent application of the fair value accounting standard (SFAS 157) to financial assets. |
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10.20525/ijfbs.v11i4.2348 doi (DE-627)1844097978 (DE-599)KXP1844097978 DE-627 ger DE-627 rda eng Lim, Kwangsoo verfasserin (DE-588)1276456689 (DE-627)1830005960 aut The effect of regional differences on the value-relevance proposition for intangible assets Kwangsoo Lim, Wesley M. Jones 2022 Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier Financial disclosure (dpeaa)DE-206 Intangible assets (dpeaa)DE-206 Regional difference (dpeaa)DE-206 Value relevance (dpeaa)DE-206 Jones, Wesley M. verfasserin aut Enthalten in International journal of finance & banking studies Istanbul : [Verlag nicht ermittelbar], 2012 11(2022), 4 vom: Okt., Seite 89-94 Online-Ressource (DE-627)751911763 (DE-600)2724514-7 (DE-576)391215892 2147-4486 nnns volume:11 year:2022 number:4 month:10 pages:89-94 https://www.ssbfnet.com/ojs/index.php/ijfbs/article/download/2348/1684/8597 Verlag kostenfrei https://doi.org/10.20525/ijfbs.v11i4.2348 Resolving-System kostenfrei GBV_USEFLAG_U GBV_ILN_26 ISIL_DE-206 SYSFLAG_1 GBV_KXP GBV_ILN_11 GBV_ILN_20 GBV_ILN_22 GBV_ILN_23 GBV_ILN_24 GBV_ILN_39 GBV_ILN_40 GBV_ILN_60 GBV_ILN_62 GBV_ILN_63 GBV_ILN_65 GBV_ILN_69 GBV_ILN_70 GBV_ILN_73 GBV_ILN_95 GBV_ILN_105 GBV_ILN_110 GBV_ILN_151 GBV_ILN_161 GBV_ILN_206 GBV_ILN_213 GBV_ILN_230 GBV_ILN_285 GBV_ILN_293 GBV_ILN_370 GBV_ILN_602 GBV_ILN_2014 GBV_ILN_4012 GBV_ILN_4037 GBV_ILN_4112 GBV_ILN_4125 GBV_ILN_4126 GBV_ILN_4249 GBV_ILN_4305 GBV_ILN_4306 GBV_ILN_4307 GBV_ILN_4313 GBV_ILN_4322 GBV_ILN_4323 GBV_ILN_4324 GBV_ILN_4325 GBV_ILN_4326 GBV_ILN_4335 GBV_ILN_4338 GBV_ILN_4367 GBV_ILN_4700 GBV_ILN_2403 GBV_ILN_2403 ISIL_DE-LFER AR 11 2022 4 10 89-94 26 01 0206 4317364921 x1z 02-05-23 2403 01 DE-LFER 4324072698 00 --%%-- --%%-- n --%%-- l01 20-05-23 2403 01 DE-LFER https://doi.org/10.20525/ijfbs.v11i4.2348 2403 01 DE-LFER https://www.ssbfnet.com/ojs/index.php/ijfbs/article/download/2348/1684/8597 26 00 DE-206 We examine the value relevance of intangibles reported by technology firms in electronics industries and any regional difference between Southern and non-Southern firms in the relative importance of how value relevance is reported. For technology firms, the essential asset in their valuation is intellectual property, which idiosyncratic accounting practices could have either capitalized or expensed. We are interested in the intangible assets and goodwill on balance sheets and amortization expenses from income statements, which together capture the magnitude of a firm's intellectual property. We present evidence that the market value of a firm is negatively associated with the size of its intangibles but positively associated with the size of goodwill and amortization expenses. We find that this relationship between the market value of a firm and measures of intangibles is statistically stronger for Southern firms than for non-Southern firms. We interpret this finding as a manifestation of stronger accounting conservatism among Southern firms due to regional cultural differences. We find that the value relevance of intangibles weakened significantly during the 2008 financial crisis, and we interpret the intertemporal difference as a spillover effect of the stringent application of the fair value accounting standard (SFAS 157) to financial assets. |
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English |
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Enthalten in International journal of finance & banking studies 11(2022), 4 vom: Okt., Seite 89-94 volume:11 year:2022 number:4 month:10 pages:89-94 |
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26 00 DE-206 We examine the value relevance of intangibles reported by technology firms in electronics industries and any regional difference between Southern and non-Southern firms in the relative importance of how value relevance is reported. For technology firms, the essential asset in their valuation is intellectual property, which idiosyncratic accounting practices could have either capitalized or expensed. We are interested in the intangible assets and goodwill on balance sheets and amortization expenses from income statements, which together capture the magnitude of a firm's intellectual property. We present evidence that the market value of a firm is negatively associated with the size of its intangibles but positively associated with the size of goodwill and amortization expenses. We find that this relationship between the market value of a firm and measures of intangibles is statistically stronger for Southern firms than for non-Southern firms. We interpret this finding as a manifestation of stronger accounting conservatism among Southern firms due to regional cultural differences. We find that the value relevance of intangibles weakened significantly during the 2008 financial crisis, and we interpret the intertemporal difference as a spillover effect of the stringent application of the fair value accounting standard (SFAS 157) to financial assets The effect of regional differences on the value-relevance proposition for intangible assets Kwangsoo Lim, Wesley M. Jones Financial disclosure (dpeaa)DE-206 Intangible assets (dpeaa)DE-206 Regional difference (dpeaa)DE-206 Value relevance (dpeaa)DE-206 |
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code="a">SYSFLAG_1</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_KXP</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_11</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_20</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_22</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_23</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_24</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_39</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_40</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_60</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_62</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_63</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_65</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_69</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_70</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_73</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_95</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_105</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_110</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_151</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_161</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_206</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_213</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_230</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_285</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_293</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_370</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_602</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_2014</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4012</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4037</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4112</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4125</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4126</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4249</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4305</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4306</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4307</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4313</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4322</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4323</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4324</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4325</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4326</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4335</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4338</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4367</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_4700</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_2403</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">GBV_ILN_2403</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ISIL_DE-LFER</subfield></datafield><datafield tag="951" ind1=" " ind2=" "><subfield code="a">AR</subfield></datafield><datafield tag="952" ind1=" " ind2=" "><subfield code="d">11</subfield><subfield code="j">2022</subfield><subfield code="e">4</subfield><subfield code="c">10</subfield><subfield code="h">89-94</subfield></datafield><datafield tag="980" ind1=" " ind2=" "><subfield code="2">26</subfield><subfield code="1">01</subfield><subfield code="x">0206</subfield><subfield code="b">4317364921</subfield><subfield code="y">x1z</subfield><subfield code="z">02-05-23</subfield></datafield><datafield tag="980" ind1=" " ind2=" "><subfield code="2">2403</subfield><subfield code="1">01</subfield><subfield code="x">DE-LFER</subfield><subfield code="b">4324072698</subfield><subfield code="c">00</subfield><subfield code="f">--%%--</subfield><subfield code="d">--%%--</subfield><subfield code="e">n</subfield><subfield code="j">--%%--</subfield><subfield code="y">l01</subfield><subfield code="z">20-05-23</subfield></datafield><datafield tag="981" ind1=" " ind2=" "><subfield code="2">2403</subfield><subfield code="1">01</subfield><subfield code="x">DE-LFER</subfield><subfield code="r">https://doi.org/10.20525/ijfbs.v11i4.2348</subfield></datafield><datafield tag="981" ind1=" " ind2=" "><subfield code="2">2403</subfield><subfield code="1">01</subfield><subfield code="x">DE-LFER</subfield><subfield code="r">https://www.ssbfnet.com/ojs/index.php/ijfbs/article/download/2348/1684/8597</subfield></datafield><datafield tag="982" ind1=" " ind2=" "><subfield code="2">26</subfield><subfield code="1">00</subfield><subfield code="x">DE-206</subfield><subfield code="b">We examine the value relevance of intangibles reported by technology firms in electronics industries and any regional difference between Southern and non-Southern firms in the relative importance of how value relevance is reported. For technology firms, the essential asset in their valuation is intellectual property, which idiosyncratic accounting practices could have either capitalized or expensed. We are interested in the intangible assets and goodwill on balance sheets and amortization expenses from income statements, which together capture the magnitude of a firm's intellectual property. We present evidence that the market value of a firm is negatively associated with the size of its intangibles but positively associated with the size of goodwill and amortization expenses. We find that this relationship between the market value of a firm and measures of intangibles is statistically stronger for Southern firms than for non-Southern firms. We interpret this finding as a manifestation of stronger accounting conservatism among Southern firms due to regional cultural differences. We find that the value relevance of intangibles weakened significantly during the 2008 financial crisis, and we interpret the intertemporal difference as a spillover effect of the stringent application of the fair value accounting standard (SFAS 157) to financial assets.</subfield></datafield></record></collection>
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