The 21st century company's true value: Intellectual capital disclosure and share prices on Nasdaq OMXS30
Independent thesis Advanced level (professional degree), 20 credits / 30 HE creditsStudent thesis
The study investigates the relationship between intellectual capital and share prices on the Nasdaq OMXS30 companies between 2001 and 2010. This, by using content analysis to score the companies' disclosure of intellectual capital and linear regression to test for a relationship with the corresponding share prices.
We find a significant positive relationship between Price and Intellectual capital only for one of its subcategories: Internal Capital. The other two, Human Capital and External Capital, were both negatively correlated, explaining why we could not see a relationship between our total Intellectual capital score and price. Apart from this, we see that the average IC disclosure increased significantly during our researched time period and that IC disclosure in knowledge-intensive companies is statistically higher than for capital-intensive companies when it comes to External Capital and Human Capital. For Internal Capital, as well as for Total intellectual capital disclosure, we could not see any difference.
Place, publisher, year, edition, pages
2012. , 67 p.
intellectual capital disclosure, content analysis, ohlson model, omxs30, intangible assets, internal capital, external capital, human capital
IdentifiersURN: urn:nbn:se:umu:diva-57132OAI: oai:DiVA.org:umu-57132DiVA: diva2:540154
Study Programme in Business Administration and Economics
UppsokSocial and Behavioural Science, Law
Nylén, Ulrica, Studierektor