Intangible resources, Tobin's q, and sustainability of performance differences
By Belén Villalonga. 2004
538 citations recorded by the source corpus.
Subfields: Accounting, Economics and Econometrics, Strategy and Management
View Paper: https://www.semanticscholar.org/paper/fffb9f37938bc330ae6462b6a6431b5476acc2e8
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Citations in the corpus
- Less is More, or Not? On the Interplay between Bundles of Slack Resources, Firm Performance and Firm Survival (2015, unknown): “The intangible assets ratio, defined as the ratio of intangible assets (including R&D expenses and the value of patents, trademarks and brands) to total assets, is used as a measure for firms‘ growth potential (Villalonga, 2004).”
- Customer Satisfaction and Brand Equity (2011, unknown): “Such exclusion is standard practice in studies of social responsibility and financial performance (e.g. Griffin and Mahon, 1997; Russo and Fouts, 1997; Villalonga, 2004) given that the drivers of CS for these industries are different from those in manufacturing and other service industries (Krishnan”
- Human factors: spanning the gap between OM and HRM (2010, result): “Measurement problems notwithstanding, these trends are also consistent with the RBV of the firm and longitudinal panel studies of Tobin's Q and firm performance suggest that intangible factors may contribute to or inhibit future firm profitability ( Villalonga, 2004”
- Intangible Capital and the Investment-q Relation (2017, background): “Similarly, Chambers, Jennings and Thompson (2002) and Villalonga (2004) find that firms with larger stocks of intangible capital exhibit stronger performance and market valuations.”
- Cash is surprisingly valuable as a strategic asset (2014, methodology): “Following standard datascreening processes used by Villalonga (2004b) and Brush, Bromiley, and Hendrickx (2000), we excluded (1) firm-year observations whose assets are below US$ 10 million in all years;2 (2) those with missing data for standard industrial classification (SIC) codes or key…”
- A New Look at the Corporate Social–Financial Performance Relationship (2013, background): “…due to frequent instances of missing R&D data in the COMPUSTAT series, zeros were inserted to replace any missing values, on the assumption that when firms do not report R&D expenditures it is generally because the values are nonexistent or minimal (Morck & Yeung, 1991; Villalonga, 2004).”
- Too Little or Too Much? Untangling the Relationship Between Corporate Philanthropy and Firm Financial Performance (2008, background): “For a diversified firm that operated in more than one industry, overall industry sales were first computed as the average of the segment industry–level sales, weighted by segment sales as a proportion of the firm's total sales (Villalonga 2004).”
- The relationship between corporate social responsibility and shareholder value: an empirical test of the risk management hypothesis (2009, background): “Market-to-book has been shown in the literature to correlate strongly with Tobin’s q, the theoretical standard for measuring intangible assets (Villalonga, 2004).”
- Intangible assets and firm heterogeneity: Evidence from Italy (2014, background): “On this ground, industry-related variables are expected to be able to explain most part of the variability of intangible assets accumulation (Villalonga 2004; Daley 2001).”