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Publication date: 1 September 2001

Judy Cumby and Joan Conrod

The limitations of financial metrics in assessing performance in the new economy generate demand for non‐financial measures appropriate for evaluation of shareholder value…

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Abstract

The limitations of financial metrics in assessing performance in the new economy generate demand for non‐financial measures appropriate for evaluation of shareholder value creation. The suitability of non‐financial measures for external reporting continues to be explored by professional accountants, capital market regulators, and academics. Investigates research developments and their applicability to the biotechnology industry. Examines the externally published information of public Canadian biotechnology companies with a view to the development of measures appropriate for evaluating corporate performance. Represents the findings from the first of a two‐phase research project designed to explore the techniques used to gauge the effectiveness of communication regarding performance in the Canadian biotechnology industry.

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Journal of Intellectual Capital, vol. 2 no. 3
Type: Research Article
ISSN: 1469-1930

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Article
Publication date: 1 March 2003

Per Nikolaj Bukh

Many firms have started disclosing information on intellectual capital. Financial analysts, however, ask for more disclosure related to strategy and often find intellectual…

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Abstract

Many firms have started disclosing information on intellectual capital. Financial analysts, however, ask for more disclosure related to strategy and often find intellectual capital statement less relevant. Drawing on results from a study of disclosure of information on intellectual capital in Danish initial public offering (IPO) prospectuses, this commentary argues that the perceived irrelevance of intellectual capital is somewhat paradoxical since intellectual capital reports and recent prospectuses share remarkable similarities with respect to the intellectual capital indicators disclosed. Further, the commentary argues that, for intellectual capital disclosure to be perceived as relevant from a capital market perspective, the information should be disclosed as an integral part of a framework illuminating the value creation processes of the firm. The emerging practice with respect to intellectual capital offers such a framework for disclosing the business model of the knowledge‐based company.

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Accounting, Auditing & Accountability Journal, vol. 16 no. 1
Type: Research Article
ISSN: 0951-3574

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