Intellectual Capital Valuation and Stock Market Performance in an Era of Financial Turmoil: Blue Chip Banks Listed in Stock Exchanges of the Visegrad Countries
Keywords:
Banking sector, financial crisis, valuation, stock exchange, intellectual capitalAbstract
The core purpose of this empirical study is to investigate the influence of intellectual capital on stock market performance of the Visegrad countries in era of financial turmoil. This study is prompted by increasing evidence that the major drivers of value creation focus on a firm’s intangible assets rather than its physical tangibles. In this quantitative analysis, nine listed large banks concentrated in particular national stock exchanges in Prague, Budapest, Warsaw and Bratislava are investigated. The study uses empirical data from Bloomberg Terminal Platform for data management that cover 2006-2012 and Intellectual Capital methods based on market capitalization.
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