Title: The intangibles: emergence, recognition and financial performance: a study of the Tunisian Stock Exchange

Authors: Mohamed Aymen Baklouti, Wassim Jamoussi, Habib Affes

Addresses: Corporate Finance and Financial Theory Unit Research, Faculty of Economic Sciences and Management of SFAX, The Airport road km 4, 3018, SFAX – Tunisia. ' Corporate Finance and Financial Theory Unit Research, Faculty of Economic Sciences and Management of SFAX, The Airport road km 4, 3018, SFAX – Tunisia. ' Corporate Finance and Financial Theory Unit Research, Faculty of Economic Sciences and Management of SFAX, The Airport road km 4, 3018, SFAX – Tunisia

Abstract: The present research raises the question of the intangible-related accounting information utility. Using a sample of 24 firms quoted on the Tunisian Stock Exchange (TSE), this study aims to clarify the links between the intangibles and the financial performance while distinguishing between the various components of the intellectual capital, on the one hand, and challenging the accounting standards and practices on the other. The period of this study is spread out over four years (2001-2004). The results of the study show that the intangibles have a positive and significant direct effect on the financial performance of the quoted Tunisian firms. However, the indirect impact tested through the accounting earning proves to be insignificant. This result can be explained by the ignorance of the Tunisian accounting system about some intangibles.

Keywords: intellectual capital; accounting treatment; financial performance; accounting earning; Tunisia; Tunis Stock Exchange; intangible information; accounting information; intangibles.

DOI: 10.1504/IJMFA.2010.035636

International Journal of Managerial and Financial Accounting, 2010 Vol.2 No.4, pp.327 - 343

Published online: 01 Oct 2010 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article