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Analysis of the impact of intangible assets on the companies’ market value

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Category: Contens №3 2020

Last Updated on 13 September 2020

Published on 02 July 2020

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Authors:

V. Ievdokymov, Dr. Sc. (Econ.), Prof., Rector, orcid.org/0000-0002-3577-081X, Zhytomyr Polytechnic State University, Zhytomyr, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

T. Ostapchuk, Dr. Sc. (Econ.), Assoc. Prof., Head of the Department of Management and Entrepreneurship, orcid.org/0000-0001-9623-0481, Zhytomyr Polytechnic State University, Zhytomyr, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

S. Lehenchuk, Dr. Sc. (Econ.), Prof., Expert of the National Agency for Quality Assurance in Higher Education, orcid.org/0000-0002-3975-1210, National Agency for Higher Education Quality Assurance, Kyiv, Ukraine

D. Grytsyshen, Dr. Sc. (Econ.), Prof., Dean of the Faculty of Public Administration and Law, orcid.org/0000-0002-1559-2403, Zhytomyr Polytechnic State University, Zhytomyr, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

G. Marchuk, Senior Lecturer, the Department of Computer Science, orcid.org/0000-0003-2954-1057, Zhytomyr Polytechnic State University, Zhytomyr, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu. 2020, (3): 164-170

https://doi.org/10.33271/nvngu/2020-3/164

повний текст / full article

Abstract:

Purpose. To determine the impact of intangible assets on the market value of European companies (Germany, France and the United Kingdom) using intellectual data analysis.

Methodology. The correlation-regression analysis, including Python programming libraries (Pandas, Numpy, Matplotlib, and Seaborn), was used to find the link between market value and intangible assets available to enterprises, which allows conducting analysis and visualization of the results obtained through various methods. To analyze the impact of an industry type on the relationship between market value and intangible assets, their classification according to the NACE Code Index is used.

Findings. The correlation between intangible assets and the market value of companies in the analyzed European countries has been identified, but the strength of this connection is different (German companies (0.6–0.7), French companies (0.3–0.7), British companies (0.5–0.7)). The size of an enterprise affects the connection between intangible assets and the market value of enterprises. The authors conclude that the correlation between the intangible assets indicators by economic sectors and the market value of enterprises exists only for some economic sectors (C, J, K, M and N), classified according to the NACE Code Index.

Originality. The study presents the regression dependence of market value on intangible assets of European companies (Germany, France and the United Kingdom), which allows adjusting their investment policy depending on the industry to which the company belongs and on its size.

Practical value. Determining the possibility of the impact of the value of intangible assets on the market value of companies.

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