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Inicio Investigaciones Europeas de Dirección y Economía de la Empresa MOTIVOS “EXTERNOS” E “INTERNOS” PARA LA VALORACIÓN FINANCIERA DE LOS IN...
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Vol. 16. Núm. 3.
Páginas 145-171 (Septiembre - Diciembre 2010)
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Vol. 16. Núm. 3.
Páginas 145-171 (Septiembre - Diciembre 2010)
DOI: 10.1016/S1135-2523(12)60039-2
Open Access
MOTIVOS “EXTERNOS” E “INTERNOS” PARA LA VALORACIÓN FINANCIERA DE LOS INTANGIBLES: ANTECEDENTES Y CONSECUENTES
“EXTERNAL” AND “INTERNAL” REASONS FOR THE FINANCIAL VALUATION OF INTANGIBLES: PRECEDENTS AND CONSEQUENTS
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J.D. García Merino, G. Arregui Ayastuy, A. Rodríguez Castellano, B. Vallejo Alonso
Universidad del País Vasco
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RESUMEN

Este trabajo pretende analizar la relación entre la percepción de las empresas del País Vasco sobre la importancia de la valoración de los intangibles y los resultados que obtienen. Para el logro de este objetivo se ha realizado una encuesta a 440 directores financieros. Del análisis de sus respuestas y de los resultados económico-financieros de sus empresas, se concluye que las empresas que consideran importante la valoración financiera de sus intangibles, especialmente por motivos internos, obtienen mejores resultados aunque las mejoras no son estadísticamente significativas. Asimismo, las empresas más interesadas en la valoración de sus intangibles por motivos externos presentan una mayor necesidad de presentar garantías frente a terceros sobre su capacidad de generar rendimientos.

PALABRAS CLAVE:
Intangibles
Valoración Financiera de Intangibles
Opinión Directivos
Resultados Empresariales
CLASIFICACIÓN JEL:
M10
O16
G30
ABSTRACT

This paper aims to analyse the Basque Country companies' view about the financial valuation of intangibles relevance and its influence on business performance. To achieve this objective, a field study has been done with 440 telephone calls to Basque Country companies' financial managers. Then, their responses and theirs firm's performance are analysed. The results show that the companies that are interested in the financial valuation of the intangibles, specially for internal motivation, perform better, however, this improvement is not statistically significant. Otherwise, the companies that are more interested in the valuation of their intangibles for external reasons need to provide information to stakeholders about their ability to generate income.

KEY WORDS:
Intangibles
Financial Valuation of Intangibles
Managers' Opinion
Business Performance
JEL CLASSIFICATION:
M10
O16
G30
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