دانلود رایگان مقاله انگلیسی تأثیر سرمایه گذاری در دارایی های نامشهود بر عملکرد شرکت ها در هند - امرالد 2018

Abstract

Purpose The current paper aims to evaluate the impact of investment in Intangible Assets on the corporate performance of Indian companies for a period of twelve years from 2001-2012. Design/Methodology Intangible assets have been measured using the ‘Intangible Assets Monitor’ method developed by Sveiby (1997). Findings The results of Panel Data Regression model reveal that Intangible Assets affect performance of companies positively after controlling for firm size, age, leverage, physical capital intensity, market share, risk, industries and year dummy. Originality/Value Specifically considering India, the research related to the association between Intangible Assets and performance is undersized. Thus, the present study would contribute to the existing literature comprehensively. Practical implications The study is of immense importance to the corporate managers in improving managerial insight into the significance of investment in Intangible Assets. The results direct Indian managers to understand and realize the importance of Intangible Assets and keenly invest in R&D, technology, software, advertising, CRM and human resources to further augment their performance.

4. Conclusion

The present study evaluates the impact of Intangible Assets on the performance of Indian companies. The results report a positive and significant relation between Intangible Assets and performance. Resultantly the study is of immense importance to the corporate managers in improving managerial insights into the significance of investment in Intangible Assets. The results direct Indian managers to understand and realize the importance of Intangible Assets and keenly invest in R&D, technology, software, advertising, CRM and human resources to further augment their performance. Gone are the days when investment in fixed assets carried supreme importance. Rather the unobserved and unscathed assets bear equal relevance and significance. Also such investment would be more fruitful to large sized companies, older in age and with high physical capital intensity. Investment in Intangible Assets should be a part of strategic intent of managers. In order to be distinct and inimitable they should encourage investment in Intangible Assets. Such investment would definitely strengthen their internal resources and capabilities and become a source of sustained competitive advantage. Since there is less empirical work available on intangibles in India, so the researchers can definitely look for exploring corporate attributes affecting investment preferences of managers towards intangible assets. Also managerial perception towards investment in intangible assets can be evaluated. Research can also be conducted across countries to know the differences in managerial behavior and other factors leading to investment in intangible assets.