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Informativeness of intangible assets voluntary disclosure: effects on Italian financial market
Journal Title: FINANCIAL REPORTING 
Author/s: Carmela Rizza, Angela M. Greco, Davide Rizzotti 
Year:  2011 Issue: Language: Italian 
Pages:  23 Pg. 9-31 FullText PDF:  728 KB
DOI:  10.3280/FR2011-002002
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Scholars have investigated the effects of intangible assets (IA) voluntary disclosure on investors’ evaluations, without considering both the Italian context peculiarities and the different modalities of disclosure. This paper aims to verify the weight assigned by the Italian financial market to the IA disclosure and how this weight is influenced by the way IA disclosure is done. To reach these objectives it was conducted an empirical analysis of financial data and documents of the firms listed in the Italian Stock Exchange over a ten year period (1998-2008). Results show that Italian market reaction is mainly influenced by the tool of IA disclosure used.
Keywords: Voluntary disclosure, financial market, informativeness, intangible assets, capitalization, investors

Carmela Rizza, Angela M. Greco, Davide Rizzotti, Informativeness of intangible assets voluntary disclosure: effects on Italian financial market in "FINANCIAL REPORTING" 2/2011, pp. 9-31, DOI:10.3280/FR2011-002002

   

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