The goodwill is, by nature, complex since this notion encompasses two realities: the first is an economic concept – the expected present value of economic profits – the second is an accounting aggregate – the excess of the acquirer’s purchase price over the fair values of the target’s...

In this paper we propose a new method to explain the creation and measure the value of internally generated goodwill (IGG). Our method is based on the idea that firm value is affected by interactions between assets used in combination to conduct business. This novel approach contrasts with the...

Increasing internally generated goodwill (IGG) is another way of depicting the rising gap between market and accounting values sometimes referred as the “book-to-market black box”. Existing methods propose to value internally generated goodwill as the present value of abnormal earnings...

Regarding the decline of book-to-market ratio, resulting from a very imperfect recognition of intangible capital, this paper aims to examine the foundation of organization capital measurement. By using the rule of representation (Ijiri, 1975), which indicates a lack of isomorphism between the...

Having been introduced in the European Union and in many other countries, the equal opportunity rule is seen as protecting investors in the event of a transfer of control. This rule should be analyzed in a context of appropriation of private benefits between the new controlling shareholders and...