| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w9581 |
| 来源ID | Working Paper 9581 |
| The Measurement of Firm-Specific Organization Capital | |
| Baruch Lev; Suresh Radhakrishnan | |
| 发表日期 | 2003-03-24 |
| 出版年 | 2003 |
| 语种 | 英语 |
| 摘要 | We develop a firm-specific measure of organization capital and estimate it for a sample of approximately 250 companies. We test the validity of the organization capital measure within a widely used investment valuation model and show that our organization capital estimate contributes significantly to the explanation of market values of firms, beyond assets in place and expected abnormal earnings (growth potential). We then examine whether capital markets are efficient with respect to organization capital, namely whether stock prices fully reflect the value of this resource. We find that while investors recognize the importance of organization capital, they do not fully factor its value into equity prices. We ascribe this fault or market inefficiency to poor disclosure of information about intangible capital. |
| 主题 | Financial Economics ; Other ; Accounting, Marketing, and Personnel |
| URL | https://www.nber.org/papers/w9581 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/567204 |
| 推荐引用方式 GB/T 7714 | Baruch Lev,Suresh Radhakrishnan. The Measurement of Firm-Specific Organization Capital. 2003. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w9581.pdf（165KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
