Determinants of the Valuation of Intangible Assets -A Contrast between Taiwanese and American IC Design Houses
博士 === 國立交通大學 === 管理科學系所 === 95 === In the knowledge economy, the analysis of intangible resources affects an organization's value and growth. Both the choosing of the appropriate evaluation models and the critical factors for intangible assets are the most difficult issues to deal with. The fi...
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| Format: | Others |
| Language: | zh-TW |
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2006
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| Online Access: | http://ndltd.ncl.edu.tw/handle/80721776979703654682 |
| Summary: | 博士 === 國立交通大學 === 管理科學系所 === 95 === In the knowledge economy, the analysis of intangible resources affects an organization's value and growth. Both the choosing of the appropriate evaluation models and the critical factors for intangible assets are the most difficult issues to deal with. The first purpose of this study employs five evaluation models to compute the intangible value of IC design houses in US and Taiwan. The results show that the value of IC design houses in US is higher than Taiwanese by market capital methods. In contrast, the value of Taiwanese IC design houses is more consistent with the return of asset methods comparing to that of US firms. The second purpose of this paper is to investigate the compositions of intangible assets between Taiwanese and American IC design industry. We constructed 26 items from financial and intellectual capital aspects. Results of factor analysis indicated 8 main attributes of intangible value. Results of stepwise regression indicated that current profitability attributes are the most important ones associated with the intangible value in Taiwan, and research performance are the most important ones in US. These findings suggest that US design houses is more long-term running oriented than Taiwanese short-term oriented.
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