The determining role of valuation of intangible assets as a priority direction of enterprise development

Yeremenko Andriy
Ph.D. (Economics), SESE «The Academy of Financial Management», Kyiv, E-mail:andreyy@ukr.net, ORCID ID: https://orcid.org/0009-0005-6177-838X

Cite this article:

Yeremenko A. (2024) The determining role of valuation of intangible assets as a priority direction of enterprise development. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Vyznachalna rol otsiniuvannia nematerialnykh aktyviv yak priorytetnyi napriamok rozvytok pidpryiemstva; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odesa National Economic University (ISSN 2313-4569), Odesa National Economics University, Odesa, No. 1-2 (314-315), pp. 51-56.

Abstract

The purpose of the study is to determine the role of valuation of intangible assets in the capitalization of the enterprise. The methodological basis of the study is the analysis of the competitive advantages of the presence of intangible assets on the company's balance sheet. In the research process, general scientific and special techniques, methods of statistical research were used: comparison, analysis, synthesis, abstraction, concretization and generalization of the obtained results. The classification and main criteria of intangible assets are highlighted. The properties and types of intangible assets were studied. The stages of intangible assets valuation are defined and possible directions for improving the use of intangible assets are proposed. The result of the study is intangible assets that create additional profit for the enterprise. Methodical techniques for valuating of intangible assets have been improved thanks to the adaptation of comparative, income and cost approaches. The expediency of their selective application is substantiated based on comprehensive consideration of such initial conditions as the specificity of the intellectual property object, purpose, target type of value, information security of the application of specific valuation methods. It is proved that in modern conditions the most expedient approach to determining the market value of intangible assets is the income approach. The role of intellectual property in the formation of competitive advantages is revealed. It has been proven that intellectual property objects are a source of creating primary competitive advantages (production and technological), which in the process of activity produce secondary advantages (financial, marketing, organizational and administrative). The practical significance of this study is that the obtained results can be used to develop and improve the valuation methodology of the intangible assets.

Keywords

intangible assets, valuation, value, intellectual capital, intellectual property, goodwill.

JEL classification: E220; O340; M410; DOI: https://doi.org/10.32680/2409-9260-2024-1-2-314-315-51-56

UD classification: 657.421.3

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