Management

Intangible Assets: Measuring and Enhancing Their Contribution to Corporate Value and Economic Growth

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According to a 2006 Federal Reserve Board analysis, investment in intan- gible assets in the United States exceeds all investment in tangible prop- erty and, if properly accounted for, would raise measured productivity growth significantly (Corrado et al., 2006a, 2006b). These assets—which include computer software, research and development (R&D), intellectual property, workforce training, and spending to raise the efficiency and brand identification of firms—comprise a subset of services, which, in turn, accounts for three-quar- ters of all economic activity. Increasingly, intangibles are a principal driver of the competitiveness of U.S.-based firms, economic growth, and opportunities for U.S. workers. Some intangibles, like intellectual property, are being securitized, auctioned, and traded; not long ago, few would have contemplated the existence, let alone the proliferation, of “technology markets.” Yet, despite these develop- ments, many intangible assets are not reported by companies, and, in the national economic accounts, they are treated as expenses rather than investments. At the moment, there is also no coordinated national strategy for promoting intangible investments, apart perhaps from R&D

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Series Title

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Call Number

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Publisher

: ., 2009

Collation

1-125

Language

English

ISBN/ISSN

978-0-309-14414-8

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NONE

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Edition

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Subject(s)

Intangible Assets: Measuring and Enhancing Their C

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