Measuring Intangible Capital with Uncertainty

• Main Authors: AN, Sungbae, LI, Nan
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2014
• Subjects: Intangible Capital; Particle Filter; Second-Order Perturbation; Finance
• Online Access: https://ink.library.smu.edu.sg/soe_research/1701
• Institution: Singapore Management University

Intangible capital has arguably become an important component of corporate value. However, it is still an open question whether uncertainty associated with investment in intangible capital is higher or lower than physical capital. We estimate the value of intangible capital in a dynamic stochastic g...