THE RELATIONSHIP BETWEEN INTELLECTUAL CAPITAL DISCLOSURES ON EARNINGS QUALITY AND MARKET VALUES OF THAI LISTED COMPANIES IN TECHNOLOGY SECTOR
Keywords:
Intellectual Capital, Earnings Quality, Market ValuesAbstract
An intellectual capital is essential in making a competitive advantage of organizations. In addition, the intellectual capital is intangible asset and has hidden value. Therefore, a disclosure of intellectual capital information is beneficial for relevant users who can utilize this information to evaluate the business in various aspects of devising making. This paper aims to investigate how the intellectual capital were disclosed as well as examine the relationships between the intellectual capital disclosures on earnings quality and market values of listed companies in the Stock Exchange of Thailand (SET) focusing technology sector. Content analysis was used to analyze the data. The findings revealed that the disclosure of intellectual capital information focuses mostly on textual disclosure (amount of words). The nature of disclosure of intellectual capital information is a narrative form. On the other hand, the section of an annual report in which intellectual capital mostly disclosed is a business operation section. The disclosure of intellectual capital information was at low level. Moreover, the disclosure of intellectual capital has no significant relationship with the earnings quality and the market values.
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