加拿大红鹿市论文代写：无形资产
然而，有些人认为可以长期投资无形资产披露无形资产的方式，他们会出现在财务报表的最后是不必要的。披露无形资产给企业更多的自主权，自愿揭示无形资产的重要方面，基于公司的分化。然而，一些公司会做出过于有利的披露，导致过度定价。本报告是为一家总部设在英国的跨国广告公司准备的。文献综述的相关性和可靠性，以建立在上下文中的可比性和可靠性的信息源。
公司的价值是根据公司的财务报表或外部价值，根据其在股票市场的市场价值的内部估值决定的。在知识经济时代，市场价值与账面价值之间的差距越来越大表明无形资产发挥了重要作用，公司的价值创造70%到80%的市场价值是由硬创建评估无形资产，如品牌和声誉（Eccles，2007）。基于陈（2000）的研究，无形资产对提高公司的盈利能力和收入，也由陈（2014）支持的显着影响。公司无形资产比例高，有可能增长速度快，资产单位资产具有很高的市场价值。品牌声誉和无形资产大比例研发帐户并能够为公司创造更多的价值。
具有较高的品牌声誉，公司能够与同行业的公司相比，具有较高的股价和市场价值。基于摩根大通的研究，麦当劳品牌占公司股票价值的71%，而可口可乐公司在母公司的股票市值占公司股票市值的51%。品牌占三分之一以上股份的价值，这表明，强大的品牌，为企业创造显著的价值（Lindemann，2015）。此外，投资者更愿意购买知名度高的品牌因为他们相信这些公司将提供持续的收入和未来的增长，他们有更高的市盈率的股票，市场价值以及较低的资本成本（Copeland，科勒和穆林，2000）。高信誉的品牌能够增加溢价和增加分化，因此，这类企业将进入新的公司需要大量的时间和金钱的竞争品牌的产品要求（dobney.com，2015）。然而，一个高度认可的品牌可能会导致品牌分散，这将产生负面影响的水平和前瞻性现金流量的时间。此外，品牌价值可能会导致一个异常收益（罗、Raithel和诡计，2013）。
加拿大红鹿市论文代写：无形资产
However, some believes that invest intangibles can be a long-term manner, it is unnecessary for disclosing intangible assets as they will show up in financial statement finally. A voluntary disclosure of intangible assets gives firms more autonomy to reveal their important aspects of intangibles based on the firm’s differentiation. However, some corporate will make overly favourable disclosures which lead to over-pricing. This report is prepared for a UK-based multinational advertising company. Relevance and reliability of the literature review will be presented in order to establish the comparability in the context and the dependability of information sources.
Company’s value is determined by internal valuation based on the company’s financial statement or external valuation which based on its market value in the stock market. In knowledge-based economy, the increasing gap between market value and book value indicates that intangible assets play an important role in company’s value creation where 70% to 80% of market value is created by the hard-to-assess intangible assets, such as brand and reputation (Eccles, 2007). Based on Chen (2000)’s research, intangible assets have significant impact on enhancing company’s profitability and revenue which were also supported by Chen (2014). With high percentage of intangible assets, company is likely to grow faster and have high market value per unit of assets. Brand reputation and R&D account for major percentage of intangibles and are able to create more values for company.
Having a high brand reputation, companies are able to have high share price and market value compared with companies in the same industry. Based on JP Morgan’s study, McDonald’s brand accounts for 71% of the share value and Coca-Cola takes up for 51% of the stock market value in parent company. Brands account for more than one-third of share value, which indicates that powerful brands create significant value for companies (Lindemann, 2015). Furthermore, investors are more likely to purchase shares with high reputation brand as they believe those companies will deliver sustained earnings and future growth as they have higher P/E ratio, and market value as well as lower cost of capital(Copeland, Koller and Murrin, 2000). High reputation brands are able to add price premium and increase differentiation, therefore, such type of companies will build entry as new companies need large amount of time and money as required by competing branded product (Dobney.com, 2015). However, a highly recognized brand might cause brand dispersion which will negatively affect the level and timing of prospective cash flow. Besides, brand value may lead to an abnormal return (Luo, Raithel and Wiles, 2013).
