Contents;
List of Contributor;
Introduction and Overview;
John R M. Hand and Baruch Lev;
Part I: Intangibles in the Modern Economy;
1.A Trillion Dollars a Year in Intangible Investment and the New Economy;
2.The Information Economy;
3.The Soft Revolution: Achieving Growth by Managing Intangibles;
4.The Stock Market and Investment in the New Economy: Some Tangible Facts and Intangible Fictions;
Part II: The Impact of Specific Intangibles on Firm Performance and Market Value;
5.The Capitalization, Amortization and Value-Relevance of R&D;
6.Brand Values and Capital Market Valuation;
7.Intellectual Human Capital and the Birth of US Biotechnology Enterprises;
8.Science and Technology as Predictors of Stock Performance;
9.The Value Relevance of Trademarks;
10.Profits, Losses and the Non-linear Pricing of Internet Stocks;
11.Why Firms Diversify: Internalization vs. Agency Behaviour;
12.The Increasing Returns-to-Scale of Intangibles.
Part III: The Adverse Consequences of the Informational Deficiencies of Intangibles;
13.Off-Balance Sheet R&D Assets and Market Liquidity;
14.Information Asymmetry, R&D and Insider Gains;
15.The Stock Market Valuation of Research and Development Expenditures;
16.Why Does Fixation Persist? Experimental Evidence on the Judgment Performance Effects of Expensing Intangibles;
Part IV: The Need for Solutions;
17.The Growing Intangibles Reporting Discrepancy;
18.Challenges from the New Economy for Business and Financial Reporting;
19.The Boundaries of Financial Reporting and How to Extend Them;
20.What Then Must We Do?