• ISSN: 2010-023X (Print)
    • Abbreviated Title: Int. J. Trade, Economics and Financ.
    • Frequency: Quaterly
    • DOI: 10.18178/IJTEF
    • Editor-in-Chief: Prof.Tung-Zong (Donald) Chang
    • Managing Editor: Ms. Shira. W. Lu
    • Abstracting/ Indexing:  Crossref, Electronic Journals Library , EBSCO
    • E-mail: ijtef.editorial.office@gmail.com
IJTEF 2021 Vol.12(6): 144-148 ISSN: 2010-023X
DOI: 10.18178/ijtef.2021.12.6.709

Exploring the Relevance of Intangible Assets and Capital Structure

Yi-Ting Peng, Jia-Ying Zhang, and Justine S. Chang

Abstract—With the rapid development of technology, intangible assets play an increasingly important role in company nowadays. In the past, the reason why intangible assets were less used by companies as financing tools is largely because intangible assets have higher risks than tangible assets. This study focuses on publicly listed companies in Taiwan from 2013 to 2019 as the research object, and primarily explores whether intangible assets can be used as a company's guarantee, financing, and mortgage tool, and whether intangible assets will affect the composition of companies' capital structure. The empirical results showed that intangible assets have significant positive correlation with the company’s capital structure, indicating that intangible assets can be an additional choice to companies as a financing tool when companies face financial difficulties. Therefore, in the era of knowledge economy, intangible assets are like tangible assets that can be used as collateral for loans.

Index Terms—Capital structure, intangible assets, relevance.

The authors are with Chaoyang University of Technology, Department of Accounting, Taiwan (e-mail: ytpeng@cyut.edu.tw, caitlinap1010@gmail.com, jschang@cyut.edu.tw).

[PDF]

Cite: Yi-Ting Peng, Jia-Ying Zhang, and Justine S. Chang, "Exploring the Relevance of Intangible Assets and Capital Structure," International Journal of Trade, Economics and Finance vol.12, no.6, pp. 144-148, 2021.

Copyright © 2021 by the authors. This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).

 

Copyright © 2008-2024. International Journal of Trade, Economics and Finance. All rights reserved.
E-mail: ijtef.editorial.office@gmail.com