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Reporting intellectual capital in Spain

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  • Ester Oliveras

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  • Yulia Kasperskaya

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 analyse 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.

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Bibliographic Info

Paper provided by Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 781.

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Date of creation: Oct 2004
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Handle: RePEc:upf:upfgen:781

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Web page: http://www.econ.upf.edu/

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Keywords: Intellectual capital; disclosure; Spain;

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Cited by:
  1. Bogdan Victoria & Platon Judit & Popa Dorina Nicoleta, 2011. "Intellectual Capital Reporting And Disclosure In The Annual Reports Of Romanian Manufacturing Listed Companies €" Methodology And Discussion Of Results," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 466-476, December.

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