Resumen

FICCO, Cecilia Rita; WERBIN, Eliana; DIAZ, Margarita  y  PRIETO MORENO, María Begoña. The relevance of intangibles for the valuation of companies shares in the market: Evidence from the Argentine context. Contad. Adm [online]. 2021, vol.66, n.3, 00007.  Epub 07-Feb-2022. ISSN 0186-1042.  https://doi.org/10.22201/fca.24488410e.2021.2558.

The objective of this paper is to analyze the influence of the information on intangible assets and intellectual capital in the valuation of companies' shares in the argentine capital market, where there are no published works of this nature. The analysis is carried out applying a self-constructed model, based on Ohlson (1995). The data correspond to the period 2009-2018 and have been collected directly from original sources. They were obtained from the companies' consolidated annual financial statements and from the stock trading records of Buenos Aires Stock Market. The results reveal that identifiable intangible assets, human and structural capital are value relevant, contributing to increase the existing evidence regarding the role of intangibles in the external valuation of companies, which is particularly limited for under developed markets.

Palabras llave : Intangible assets; Intellectual capital; Value relevance; Capital market; Argentina.

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