Intangibles Accounting Regulations and the “Global Intangibles Economy”: Belief-Revision, Enforcement Theory and Financial Stability

  • Michael I. C. Nwogugu


Intangible Assets account for 60–75% of the market capitalization value in stock markets in most developed countries around the world (and similar percentages in stock markets in “2nd-world” countries). The relationship between Intangible assets and Sustainable Growth is discussed in: Corrado et al. (2012), UKCES (UK) (2011), Corrado et al. (2018), OECD (2013), Jona-Lasinio et al. (2016), McGrattan (2017), Corrado et al. (2009), Zhang (2017), Robbins (2016), Suriñach and Moreno (2011), Ahn et al. (December 2018), Haskel and Westlake (May 2018), Badia et al. (2019), Jorgenson et al. (2014), Zambon et al. (2019), Jona-Lasinio and Meliciani (2018), Marrocu et al. (2012), and Haskel and Westlake (2017). The concensus is that Intangible assets affect economic growth; and the inaccurate measurement of Intangible assets affects management decisions, business cycles and the formulation of economic policy. However, those foregoing articles and books don’t address the behavioral aspects of both Intangibles Assets and associated accounting regulations which can have macroeconomic effects. US GAAP and IFRS Goodwill and Intangibles accounting regulations (ASC 805—Business Combinations; ASC 350—Goodwill and Intangible Assets; IFRS 3R—Business Combinations; and IAS 38—accounting for Intangible Assets) are inefficient, don’t allow full recognition of actual goodwill/intangibles; and create potentially harmful psychological biases that have implications for group decisions (within firms), Financial Stability and risk perception.


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© The Author(s) 2019

Authors and Affiliations

  • Michael I. C. Nwogugu
    • 1
  1. 1.EnuguNigeria

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