{"product_id":"intellectual-capital-von-mark-traas","title":"Intellectual Capital","description":"\u003cp\u003eThis thesis examines the concept of intellectual  capital and its effect on share prices as a means to  solve the lemons problem existent in current capital  markets. In order to see whether intellectual  capital  could be part of a solution to combat this problem,  the VAICTM was employed to determine the relevance  of  intellectual capital in relation to the stock price.  The results of the regressions carried out show that  the VAICTM is significant and provides increased  explainability in the variation of stock prices.  This  leads to the conclusion that intellectual capital is  an important determinant of share returns. Time  comparisons of the R2 of calendar year regressions  yielded no definitive conclusions regarding the  conjecture that there was increased relevance of the  measure of intellectual capital over time.  Altogether, the results point towards the  hypothesized relation between intellectual capital  information and share returns. This indicates that  high quality companies that wish to seek external  financing in a market facing the lemons problem  would  benefit from the increased disclosure of  intellectual  capital information.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783844327083\"\u003e\u003ch3\u003eA market for lemons approach\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783844327083","offer_id":39495967637597,"sku":"9783844327083","price":49.0,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/9a59b052-556c-4b97-8d0e-8b54b011a836.jpg?v=1776142193","url":"https:\/\/shop.autorenwelt.de\/en\/products\/intellectual-capital-von-mark-traas","provider":"Autorenwelt Shop","version":"1.0","type":"link"}