Article

La relevancia de los intangibles para la valoración y la gestión de empresas: revisión de la literatura (1)

Revista española de financiación y contabilidad, ISSN 0210-2412, Nº 100, 1999, pags. 17-88 01/1999;
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ABSTRACT This paper presents a survey of the economics, business and accounting literature focusing on the analysis of intangibles. First, it addresses the analysis of the economic nature of intangibles, discusses several alternative definitions, and reviews the classifications proposed in the literature, as well as the accounting criteria for the recognition, valuation and depreciation of intangible assets. Then, a discussión on the relevance of specific intangible assets for firm valuation is presented, paying special attention to the risks of underestimating the value of intangibles. The paper then delves on the managerial implications of intangibles, discusing the relevance of organizational innovation and the strategic management of intangibles. Finally, several proposals for the disclosure of information on intangibles are reviewed. Este trabajo presenta una revisión de la literatura publicada en el terreno de la economía, la administración de empresas y la contabilidad, que ha centrado su atención en el análisis de los intangibles. En primer lugar, revisando algunas de las definiciones y clasificaciones propuestas en la literatura y discutiendo los criterios contables adoptados para el reconocimiento, valoración y amortización de los activos intangibles. A continuación, se analiza la relevancia de algunos intangibles para la valoración de la empresa, concediendo especial atención a los riesgos que pueden derivarse de la infravaloración o la no consideración de los intangibles en el análisis. Las implicaciones de los activos intangibles para la gestión de empresas se analizan considerando su importancia en relación con la innovación organizativa y la gestión y la gestión estratégica. Finalmente, se discuten algunas propuestas para la revelación de información financiera sobre los intangibles de la empresa.

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