The market valuation of intellectual capital : a study of the relationship between IC and the market to book ratios of 20 companies of the tourism and leisure sector of the LSE

Delannoy, Audrey

Abstract

Through the growing interest on Intellectual capital the last ten years, this work explores relationship between IC and market valuation. This dissertation highlights the Value Added by Intellectual Capital in market prices of 20 companies of the Travel and Leisure sector of the London Stock Exchange from 2005 to 2013. The relation of IC, its components and Market to Book ratios of firms is studied through the VAIC method. Results support the hypothesis than IC is valued by investors despite its non-recognition by accounting standards. Results support recommendations of more disclosure practices and improvement of IC theoretical frameworks.

Citation

Delannoy, A. The market valuation of intellectual capital : a study of the relationship between IC and the market to book ratios of 20 companies of the tourism and leisure sector of the LSE. (Thesis). University of Hull. https://hull-repository.worktribe.com/output/4221952

• Thesis Type: Thesis
• Deposit Date: Nov 4, 2019
• Publicly Available Date: Feb 23, 2023
• Keywords: Business
• Public URL: https://hull-repository.worktribe.com/output/4221952
• Additional Information: Business School, The University of Hull
• Award Date: Jan 1, 2014