Please use this identifier to cite or link to this item: https://apothesis.eap.gr/handle/repo/24669
Title: Intellectual Capital Disclosure: Evidence from Athens Stock Exchange
Authors: MICHAIL NERANTZIDIS
Issue Date: 8-Jul-2013
Abstract: Summary The purpose of this dissertation is to examine the Intellectual Capital Disclosure (ICD) in the Greek business environment, for a period of time which was characterized by a number of major events, such as the recent global financial crisis and the corporate governance restructuring. Consequently, Intellectual Capital (IC) has a well recognized contribution to the company‟s operation, as it is widely considered in the recent years of information disclosure. Using content analysis, this study examines the ICDs frequency on a 31 companies‟ annual reports and the results are compared with those of Italy‟s and UK‟s, deriving the similarities along with the differences and providing a well structured methodological framework for future researches. The most remarkable findings are summarized in the intense attention of internal (or structural) and external (or relational) capital, which outweighs human and the significant prediction of ICD according to the company‟s sector and capitalization. All in all, this could further infer that the most knowledge-based or the biggest companies have the most ICDs frequency. KEYWORDS: Intellectual Capital, Intangible Assets, Knowledge Assets, Human Capital, Organizational/Structural Capital, Relational Capital, Intellectual Capital Disclosure, Content Analysis. TABLE OF CONTENTS Summary (in Greek) ....................................................................................................................... 4 Summary.......................................................................................................................................... 6 Acknowledgments ........................................................................................................................... 7 Chapter 1: Introduction ................................................................................................................. 8 1.2. Overview of dissertation content ............................................................................................... 8 1.3. Limitations of the study ............................................................................................................. 9 1.4. Structure of the dissertation ....................................................................................................... 9 Chapter 2: General Intellectual Capital Issues .......................................................................... 11 2.1. Why IC is important ................................................................................................................ 11 2.2. The puzzle of definition(s) of IC ............................................................................................. 14 2.3. The categorization schemes of IC ............................................................................................ 16 2.4. The role of ICD ........................................................................................................................ 18 Chapter 3: Literature Review ...................................................................................................... 23 3.1. Prior empirical ICD studies ..................................................................................................... 23 Chapter 4: Data and Research Methodology: A Content Analysis of Intellectual Capital Disclosure ......................................................................................................................... 30 4.1. The conceptual framework of content analysis ....................................................................... 30 4.2. The procedure of content analysis – its prerequisites .............................................................. 34 4.3. Scope of reports analyzed ........................................................................................................ 36 4.3.1. Identifying and quantifying ICDs 36 4.3.2. Defining categories and elements 38 4.3.3. Analyzing sample and source 42 Chapter 5: Empirical Evidence from Athens Stock Exchange-Main Findings ...................... 48 5.1. ICDs by sector ......................................................................................................................... 48 5.2. ICDs by capitalization ............................................................................................................. 51 5.3. Country to country comparison of ICD ................................................................................... 54 Chapter 6: Discussion and Conclusions ...................................................................................... 58 6.1. Conclusions .............................................................................................................................. 58 6.2. Suggestions for further study ................................................................................................... 59 Bibliography .................................................................................................................................. 60 Appendix ........................................................................................................................................ 70 Bibliography Abdolmohammadi M. J., (2005), “Intellectual capital disclosure and market capitalization”, Journal of Intellectual Capital, 6(3), pp.397-416. Abeysekera I., (2008), “Intellectual capital trends: Singapore and Sri Lanka”, Journal of Intellectual Capital, 9(4), pp.723-737. Abeysekera I. and J. Guthrie, (2005), “An empirical investigation of annual reporting trends of intellectual capital in Sri Lanka”, Critical Perspectives on Accounting, 16(3), pp.151-163. 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