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Valorização de activos intangíveis resultantes de actividades de I&D

Author

Listed:
  • Ana Maria Bandeira

    () (Instituto Superior de Contabilidade e Administração do Porto, EDGE (Estudos de Gestão) e Faculdade de Economia, Universidade do Porto)

Abstract

Neste artigo elabora-se uma abordagem empírica, com recurso a técnicas econométricas apropriadas para dados em painel, que visa contribuir para a redução (ou mesmo eliminação) do desvio entre os valores contabilístico e de mercado das empresas. Tendo por base 20 das empresas que mais patentearam no período entre 1996 e 2006, os resultados mostram que: (i) o aumento na rendibilidade dos capitais próprios decorrente de um aumento do peso do investimento em I&D é superior no longo prazo; (ii) há uma relação positiva entre os resultados, e nessa sequência entre o valor da empresa, e as actividades de I&D; (iii) actualizando os resultados periódicos adicionais gerados pelo investimento em I&D é possível obter o valor actual do activo intangível.

Suggested Citation

  • Ana Maria Bandeira, 2010. "Valorização de activos intangíveis resultantes de actividades de I&D," FEP Working Papers 359, Universidade do Porto, Faculdade de Economia do Porto.
  • Handle: RePEc:por:fepwps:359
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    More about this item

    Keywords

    I&D; Informação financeira; Valor dos intangíveis; Valor de mercado; Dados em Painel;

    JEL classification:

    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G31 - Financial Economics - - Corporate Finance and Governance - - - Capital Budgeting; Fixed Investment and Inventory Studies
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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