Organization Capital

• Autores: Baruch Lev, Suresh Radhakrishnan, Weining Zhang
• Localización: Abacus: A journal of accounting, finance and business studies, ISSN 0001-3072, Vol. 45, Nº 3, 2009 (Ejemplar dedicado a: FORUM ON INTANGIBLES REPORTING), págs. 275-298
• Idioma: inglés
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• Dialnet Métricas: 4 Citas
• Resumen

  • We develop a firm-specific measure of the most important intangible asset—organization capital—and document that organization capital is associated with five years of future operating and stock return performance, after controlling for other factors. Thus, our organization capital measure captures firms' fundamental ability to generate abnormal performance. We also find that executive compensation is positively associated with our measure of organization capital, showing that the measure indeed reflects managerial ability.