文章基本信息

标题：Investment Performance of Intangible Assets: A Further Consideration of Product Safety and High Compensation
本地全文：下载
作者：Feng-Jui Hsu ; Yu-Cheng Chen ; Tsung-Yi Liu 等
期刊名称：Journal of Applied Finance and Banking
印刷版ISSN：1792-6580
电子版ISSN：1792-6599
出版年度：2016
卷号：6
期号：3
出版社：Scienpress Ltd
摘要： This study investigates the investment performance of selected portfolios which focus on intangible assets, such as a firm’s reputation, employee relations, brand quality, and social ethics. Corporate social responsibility investment is also investigated using the KLD Research & Analytics database. The evidence indicates that the performance of portfolios based on multi-indicator intangible assets significantly outperforms those of single-indicator intangible assets and the benchmark index returns. It appears that investors underestimate the value of intangible assets and the importance of corporate governance, suggesting that investment performance could potentially be improved by raising awareness in the undervaluation of intangible assets.