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Intangible assets and value relevance: Evidence from the Portuguese stock exchange

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  • Oliveira, Lídia
  • Rodrigues, Lúcia Lima
  • Craig, Russell

Abstract

We assess the value relevance of the amounts for identifiable intangible assets and goodwill reported in the financial statements of all non-finance companies listed on the main market of the Portuguese Stock Exchange from 1998 to 2008. Additionally, we use panel data to explore the impact on value relevance of Portugal’s formal adoption of International Accounting Standards [IAS] and International Financial Reporting Standards [IFRS] in 2005. A distinctive feature of the accounting by our sample companies is that when they adopted IAS 38 and IFRS 3 in 2005, they were no longer required to recognise some intangible assets (such as start-up costs and research expenditures) and were no longer required to amortise goodwill.

Suggested Citation

  • Oliveira, Lídia & Rodrigues, Lúcia Lima & Craig, Russell, 2010. "Intangible assets and value relevance: Evidence from the Portuguese stock exchange," The British Accounting Review, Elsevier, vol. 42(4), pages 241-252.
    • Handle: RePEc:eee:bracre:v:42:y:2010:i:4:p:241-252
    DOI: 10.1016/j.bar.2010.08.001
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