Investigating the relationship between intangible assets and financial performance of listed companies in Tehran Stock Exchange

Subject Areas : Journal of Investment Knowledge

Mohammad Namazi ¹ ( Professor of Accounting, Shiraz University )
Seyed Rouhollah Mousavinejad ² ( Assistant Professor of Accounting, Islamic Azad University of Esfarayen )

Received: 2016-05-24 Accepted : 2016-07-08 Published : 2017-02-19

Keywords: Registered intangible assets, Unregistered intangible assets, Financial Performance, Tehran Stock Exchange,

Abstract :

The purpose of this study was to investigate the relationship between intangible assets and the financial performance of the companies listed in Tehran Stock Exchange. Therefore, the present study is a practical and quasi-experimental research. Totally 134 companies for the 12-year period (1380 to 1391) were classified and examined in four categories using available databases. Intangible assets also was divided into two categories; registered and unregistered intangible assets.  We used a few proxies for calculation of intangible assets. The results of the partial correlation coefficients and hierarchical regression test with regard to the control variables showed that there is a significant relationship between intangible assets and financial performance of the companies. In some cases, there is a positive and in others a negative sign relationship. The intensity of this relationship for unregistered intangible assets is stronger that registered intangible assets. The most significant positive correlation is between ROA and Tobin-Q, and then between markets over book value and net income respectively. Also, the net income measure was strongly associated with intangible assets among the other measures.

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