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Article
Publication date: 1 October 2001

Jeltje van der Meer‐Kooistra and Siebren M. Zijlstra

In today’s knowledge‐based economy intellectual capital (IC) is becoming a major part of companies’ value. Being able to manage and control IC requires that companies can…

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Abstract

In today’s knowledge‐based economy intellectual capital (IC) is becoming a major part of companies’ value. Being able to manage and control IC requires that companies can identify, measure and report internally on IC. As financial accounting rules ban full disclosure of IC in the annual report the external stakeholders lack information about companies’ value, which may have as a consequence that stakeholders make wrong or bad decisions. To remedy this situation, new tools must be developed which enable managers to identify and measure a company’s IC and to report on it within a consistent framework. The theory on IC is still in its infancy. Proposes to contribute to the development of a reporting model on IC. Analyses the various reporting models recently being developed and used in practice. Moreover, the existing reporting models have been discussed in depth with the management of three Dutch companies with a high degree of IC and with four financial analysts as external users of the information. Describes the findings of the discussions with the practitioners. Based on both the theoretical evaluation of the reporting models and the evaluation in practice, describes the building blocks of an IC reporting model.

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Accounting, Auditing & Accountability Journal, vol. 14 no. 4
Type: Research Article
ISSN: 0951-3574

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Article
Publication date: 1 January 2004

J.H. von Eije, M.C. de Witte and A.H. van der Zwaan

Mainstream literature on long‐term performance of initial public offerings focuses on long‐term underperformance. Because underperformance is an anomalous phenomenon, many authors…

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Abstract

Mainstream literature on long‐term performance of initial public offerings focuses on long‐term underperformance. Because underperformance is an anomalous phenomenon, many authors search for explanations based on financial market imperfections. More recently, however, the attention shifts from underperformance to long‐term performance in general. This induces the search for other than financial market imperfections in explaining under‐ or outperformance. This article presents the idea that in many companies the preparation for the IPO and the IPO itself may bring organizational change. It searches for IPO‐related organizational change in The Netherlands with interviews of Dutch corporate officers. The research shows that an IPO primarily changes financial management and financial reporting, but that other types of organizational change may also be relevant. Moreover, long‐term stock market performance was on average higher in companies where IPO‐related organizational changes were reported than in companies where the changes were not reported.

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Managerial Finance, vol. 30 no. 1
Type: Research Article
ISSN: 0307-4358

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