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Volume 5 Issue 2, May 2007
Intangible Assets Identification and Valuation - A Theoretical Framework Approach to the Portuguese Airlines Companies
IlÍdio Tomás Lopes1,2 and Ana Maria Gomes Rodrigues2
1School of Management, Polytechnic Institute of Santarém, Portugal
2Faculty of Economics, University of Coimbra, Portugal
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It is nowadays irrefutable that we are on the brink of a new industrial revolution so deep that it might represent the birth of a new generation in which the main question is to know who will take advantage from this radical change. It is also undeniable the deep changes that have taken place on the economies and in companies as a result of the most complex re-engineering and total quality programs, as well as the implementation of knowledge management and learning approaches. Some additional key concerns come up irrefutable: in a world highly discontinuous, strategies based on innovation seem to be the key drivers for the wealth and value creation process, where they typifies the capacity to replace the traditional business models on the path of new value creation for customers and wealth for shareholders. Hence, the innovation approach is certainly centred as much on the activities of the value chain as well as on the links of the integrated value system.
Intangibles have emerged, in the last decade as an important issue among companies accounting theories. Companies have implemented strategies based on the robustness of their own intellectual capital. Competitive advantage is based on the capacity to anticipate, innovate and make shared use of opportunities. In the air transportation sector, strong changes have also occurred - traditional value chains, based on linear activities alignment, were replaced by a new perspective: the innovation cycle (specific intangibles recognition associated with new business models) and its impact on the operational cycle. This paper presents a theoretical framework approach about intangible assets identification and valuation in the air transportation sector as a whole. The first step of this empirical evidence is based on the Portuguese Airlines companies.
Keywords:
intangible, knowledge, intellectual capital, valuation, air transportation
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