Download this Paper Open PDF in Browser

Reporting Intellectual Capital in Spain

UPF Economics and Business Working Paper 781

12 Pages Posted: 16 Nov 2005  

Ester Oliveras

University Pompeu Fabra

Yulia Kasperskaya

Universitat Pompeu Fabra - Faculty of Economic and Business Sciences

Date Written: October 26, 2004

Abstract

This study reports on the analysis of annual reports from 14-listed companies in Spain over a five-year period, from 1998 to 2002. Companies in the sample are selected on the basis of their knowledge-based assets and incentives to report on Intellectual Capital. The empirical analysis is twofold: 1) Firstly, we analyze the value of intellectual capital using a value-based approach, through the difference between market and book value over the period considered. Results show that there is a general decrease in the 'hidden value' of these companies, probably due to the general trend in stock markets. 2) Secondly, we carry out a content-based analysis of the complete annual reports of the companies over the five year period. Preliminary findings seem to suggest that although the level of disclosure has increased over time, this is mainly in the form of narrative. Overall, the level of disclosure of intellectual capital remains low.

Keywords: Intellectual capital, disclosure, Spain

JEL Classification: M41

Suggested Citation

Oliveras, Ester and Kasperskaya, Yulia, Reporting Intellectual Capital in Spain (October 26, 2004). Available at SSRN: https://ssrn.com/abstract=848664 or http://dx.doi.org/10.2139/ssrn.848664

Ester Oliveras (Contact Author)

University Pompeu Fabra ( email )

Ramon Trias Fargas 25-27
08005 Barcelona
Spain

Yulia Kasperskaya

Universitat Pompeu Fabra - Faculty of Economic and Business Sciences ( email )

Ramon Trias Fargas 25-27
Barcelona, 08005
Spain

Paper statistics

Downloads
444
Rank
53,345
Abstract Views
2,522