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http://ssrn.com/abstract=1600725
 
 

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The Value Relevance of Intangible Assets and the Mandatory Adoption of IFRS


Serena Morricone


University of Lausanne - School of Economics and Business Administration (HEC-Lausanne); Lancaster University - Department of Accounting and Finance

Raffaele Oriani


Luiss Guido Carli University

Maurizio Sobrero


University of Bologna - Department of Management

June 1, 2009


Abstract:     
Using a sample of Italian publicly traded firms in the period of 1996-2006, we analyze whether and to what extent the mandatory adoption of IFRS has affected the value relevance of intangible assets. Prior literature has claimed that IFRS adoption should improve the quality of accounting information and reduce information asymmetries. We find a statistically significant decrease in the value relevance of intangible assets, and in particular of goodwill, after the IFRS adoption. In contrast, in the Italian setting investors’ evaluation of R&D expenditures seems not to be value relevant under either accounting standards.

Number of Pages in PDF File: 42

Keywords: intangible assets, IFRS adoption, goodwill, impairment test, R&D, IAS 38

JEL Classification: M41, M44

working papers series


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Date posted: May 9, 2010  

Suggested Citation

Morricone, Serena and Oriani, Raffaele and Sobrero, Maurizio, The Value Relevance of Intangible Assets and the Mandatory Adoption of IFRS (June 1, 2009). Available at SSRN: http://ssrn.com/abstract=1600725 or http://dx.doi.org/10.2139/ssrn.1600725

Contact Information

Serena Morricone (Contact Author)
University of Lausanne - School of Economics and Business Administration (HEC-Lausanne) ( email )
Intranef, Dorigny
Lausanne, 1015
Switzerland
0041.21.692-3459 (Phone)
Lancaster University - Department of Accounting and Finance ( email )
Lancaster, Lancashire LA1 4YX
United Kingdom
0044.1524.594643 (Phone)
Raffaele Oriani
Luiss Guido Carli University ( email )
Viale Romania, 32
Rome, 00196
Italy
+390685225908 (Phone)
Maurizio Sobrero
University of Bologna - Department of Management ( email )
Via Capo di Lucca 34
40126 Bologna, Bologna 40126
Italy
+39 051 2098076 (Phone)
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