Correlation With The Stock Of Listed Companies Intangible Assets

With the intension of the world economy competition, intangible asset plays arole with increasing importance in the competiton,in which technology and brand hasbecome the mainstream. Chinese enterprises also continue to strengthen investment inintangible assets when they participate in the competition. Theorists have always beenresearching the correlation to the value of intangible assets, former studies tend tofocus on the intangible assets in the overall, this article contains different types ofintangible assets on the issue of value correlation. This article will be based onprevious studies on the use of Chinese GEM and NASDAQ Capital Market data,withmodeling and hypotheses, via statistical methods to examine the value of intangibleassets. GEM test will have three parts: Overall intangible assets, as well as differentindustries in different categories of intangible assets on the stock value correlation.Due to the limited Nasdaq data, the research is limited to part of the overallintangible assets and intangible assets in different industries. The results show that:intangible value of the company for listed companies (shares) have a significantpositive impact; from the industry point of view and breakdown of intangible assets,the impacts of different intangible assets of listed companies on the stock price aresignificantly different, and the degrees of impact varies from industry to industry,indicating that different categories of intangible assets in different industries play adifferent effect. Thus, this article suggests market regulators to strengthen themanagement of information disclosure of intangible assets, in particular theintangible categories of information disclosure to provide investors with more usefulinformation; due to the huge gap of intangible investment between China and the US,this paper proposes enterprises to strengthen the construction of the intangible assets,in particular to enhance corporate innovation and R&D capabilities, whilestrengthening the government ’s support for high-tech enterprises is also crucial;finally this paper puts forward author’s own views on intangible asset goodwill, tostrengthen efforts on the capital market reform.