Resumen de Reporting intellectual capital in Spain 2000-2002
Ester Oliveras Sobrevias, Catherine Gowthorpe, Yulia Kasperskaya, Jordi Perramon Costa
The objective of this paper is to report upon intellectual capital (IC) disclosures by leading Spanish companies over a three year reporting period from 2000 to 2002, and to contribute to a growing literature in this area. This study builds upon the methodology adopted by Guthrie and Petty (2000) in undertaking a content analysis of the annual reports of twelve companies for the purpose of identifying IC disclosures. It extends the scope of earlier studies by covering a three-year period, by using a software analysis tool, and by providing a basis upon which Spanish corporate IC disclosures can be compared to the results of other country studies. Specific sections devoted to IC disclosure in five reports are discussed and compared with the findings of an earlier study. Additionally, a comparison of book to market value is made in order to assist in establishing the potential ‘hidden’ value of intangible assets including IC. There is a statistically significant increase in the volume of IC disclosures over the three-year period under review. There is greater disclosure in the area of external (customer/relational) capital than in either internal or employee capital. This corresponds with the results of other country-based studies. However, IC reporting remains at a relatively limited level, and disclosures are dominated by customer relational items.
