The concept that accounting represents the economics of the firm is a premise for the allocation of scarce resources. In recent years, firm intangible assets seem to have become an increasingly important driver of firm economic value, and yet they are difficult to measure. This study conducts an...

Prior research has investigated the upside value of investing in intangible assets and knowledge creation. This study looks at the downside of not investing in intangible assets. The lack of intangible assets suggests firms are not creating future opportunities and at the worst may be subject to...