Accounting and Value Relevance of Intangibles:A longitudinal Study in Italian Stock Exchange 2010-2018

This paper aims at exploring whether single items of intangible recognized in the financial statements under International Financial Reporting Standards(IFRS)are value relevant to investors on the Italian Stock Exchange.The data were gathered from all non-financial Italian listed companies covering the period 2010-2018.Using the Ohlson’s(1995)model,a panel data regression analysis with fixed effect has been adopted to test the relationship between intangibles and stock prices.We found that intangibles(goodwill,R&D expenditure,and other intangibles that are the sub-categories displayed on Orbis Database)are positively related to security price.The implications involve managers that must give much interest to intangibles as well as standards setters that should require further disclosure.This work covered a very recent set of longitudinal accounting data and offered an updating view of the association between intangible information and value relevance in the Italian Stock Exchange.

Intangibles and management earnings forecasts

We investigate how the accounting treatment of intangible assets on managers’likelihood of issuing voluntary earnings guidance(MEF).We find that unrecognized intangibles(immediately expensed)are negatively associated with MEF issuance,while recognized intangibles(capitalized)show a positive association.These findings hold across various factors such as analysts’coverage,industry type and for a subsample that excludes software firms permitted to capitalize software development costs under SFAS No.86.In additional,we investigate the cross-sectional determinants of MEF issuance based on the characteristics of firm intangibility.We find a significant increase in the likelihood of MEF issuance for higher unrecognized intangibles with greater earnings uncertainty.This suggests that managers may prioritize delivering valuerelevant information to market participants to alleviate uncertainty.

WHO WON THE 2008 OLYMPICS?A MULTICRITERIA DECISION OF MEASURING INTANGIBLES

It often happens that at the end of Olympics games the medals won by more than one country are many and close in total number as in the 2008 games where China won 100 medals with many gold ones and the United States won 110 medals but with a lesser number of gold medals. The question is： Although it is often done arbitrarily, is there a way to quantify the values of gold, silver and bronze medals legitimately to resolve this concern？ This short exposition shows that there is by using the author＇s theory for the measurement of intangibles, the Analytic Hierarchy Process.

Practice and Exploration of Intangible Cultural Heritage in South Hubei in Ideological and Political Education of Teachers'College

The intangible cultural heritage of south Hubei is rich in profound regional cultural connotations.By integrating such cultural heritage into ideological and political education of teachers'college,it not only helps its inheritance and protection,but also enriches the forms and contents of education,and promotes the innovative development of ideological and political education.In this paper,the integration of the tea-art creation process of green brick tea in southern Hubei and the practice of ideological and political education in teacher education major is selected as a study case,to deeply analyze the integration mechanism.The following integration strategies are proposed:combining ideological and political theory with practice,and adding courses related to tea culture;strengthening the construction of ideological and political practice bases,and enhancing the professional competence of the teaching team;building a"trinity"collaborative training system to ensure the smooth implementation of ideological and political education practice.

非物质文化遗产的标准化研究

Intangible cultural heritage is an important part of human civilization,and its protection and inheritance are of great significance for maintaining the diversity of national culture and the continuity of traditional culture.In order to better protect intangible cultural heritage,many countries have formulated corresponding protection standards and policies.This paper summarizes and studies the current standardization development of intangible cultural heritage protection in various countries,explores its significance,current situation,and development trends,and provides suggestions for the standardization of intangible cultural heritage protection in China.

High-quality Development of the Pearl River Night Tour in the Context of Deep Integration of Culture and Tourism

Urban night tourism is a new form of urban tourism development and an important driving force for the prosperity of urban night economy.As the most prestigious business card among many night tour projects in Guangzhou,the Pearl River water night tour has contributed to the development of Guangzhou s night economy,which cannot be underestimated.However,in the process of rapid development,there are also problems such as diversified operators,insufficient integration of intangible cultural elements,excessive commercial attributes,issues of tourism facilities and service facilities.Under the new stage of integrated development of culture and tourism,how to use mutual promotion of culture and tourism in the Pearl River night tour to seek innovative paths for high-quality development in the future is the main problem expected to be solved in this paper.Therefore,based on the perspective of culture and tourism integration,this paper analyzes the general situation and development status of the Pearl River night tour,and proposes five development strategies:the overall planning of culture and tourism integration,the deep integration of intangible cultural elements,the balance of commercial attributes and tourism attributes,the high integration of culture,business,tourism and education,and the creation of tourism atmosphere,in order to provide inspiration for the healthy,orderly and high-quality development of the Pearl River night tour.

Assessment of Intangible Losses in Earthquake Engineering

In order to find optimum design parameters in earthquake engineering, an objective function is optimized. This function comprises the initial cost of a structure and the cost due to the damage of earthquakes. Intangible losses may be included in the latter, such as how much society is willing to invest to preserve a human life. In this paper, the expression of the objective function is developed in terms of the seismic design coefficient, and the aforementioned intangible loss is calculated from both the individual point of view and that of society. The calculation of the intangible is based on utility curves. Finally, optimum seismic design coefficients are calculated for a firm ground site.

Metaverse application,flow experience,and Gen-Zers’participation intention of intangible cultural heritage communication

With outstanding advantages in virtuality, immersion, connectivity, and openness, the application of the metaverse in the development of intangible cultural heritage has demonstrated great potential to enhance Gen-Zers’ participation intention, but the effect and its mechanism remain unclear. This study constructs a theoretical model based on the stimuli-organism-response (SOR) theory, the DeLone and McLean model of information system (IS) success (D&M) model, and flow theory, and conducts an empirical study using a structural equation model and regression analysis based on questionnaire survey data in China to uncover whether and how metaverse application exerts its impact. Results show that metaverse application can enhance Gen-Zers’ participation intention in the communication of intangible cultural heritage, and their mechanism follows a chain path of “stimulus-state-response” under the joint action of “technology-individual-environment” in which metaverse application is the key stimulus factor, flow experience is the mediator, and self-efficacy and subjective norm are moderators. The findings can offer new insights for research on metaverse application from the perspectives of consequences and effects and can also provide practical implications for metaverse application as well as the development and communication of intangible cultural heritage.

Research on the Design of Innovative Play Blind Box Based on AR Digital Technology Empowering Traditional Intangible Cultural Heritage

The development of science and technology,especially the rise of augmented reality(AR)technology provides a new way for the inheritance and innovation of traditional intangible cultural heritage.Based on the design and research of the tide play blind box of AR digital technology empowering traditional intangible cultural heritage,this paper discusses the application and feasibility of AR technology in the traditional intangible cultural heritage,analyzes the strategy of implementing AR technology empowering intangible cultural heritage,and puts forward corresponding countermeasures for the challenges that may be faced,aiming at providing new ideas and methods for traditional intangible cultural heritage and modern science and technology.

Innovation Transformation and Industry-Education Integration:A Study on the Integration Path of Guangxi Zhuang’s Intangible Cultural Heritage and Master of Arts Education in China

This study focuses on the master of arts education in higher education institutions in Guangxi Zhuang Autonomous Region of China,explores the path of integrating Guangxi Zhuang’s intangible cultural heritage with the teaching of master of arts,and puts forward the teaching mode of“thinking guidance-autonomous judgement-program construction.”A theoretical model of innovative transformation of intangible cultural heritage is also summarized.Through the development of this study,it is expected to further enrich the practical teaching mechanism of master of arts education in Chinese universities and form a master of arts teaching model with strong local cultural characteristics.At the same time,the teaching reform based on the integration of Guangxi Zhuang’s intangible cultural heritage and master of arts education also has strong practical significance for promoting the inheritance and innovation of Chinese intangible cultural heritage,promoting the development of cultural and creative industries,and serving the economic and social development of Guangxi.

Pricing and Valuation of Intangible Assets

Intangible assets are parts of the companies＇ balance sheet, but given their intangible nature, they cannot be qualified as financial assets as other incomes can be. Therefore, the valuation, even if reflected in accounting reports, is far from objective, and each company considers it in accordance with their sectors or auditors. Auditors, consultants, and business schools are developing alternative tools for measuring these assets, but there is not a consensus formula that quantifies the business value of intangibles. In recent years, communication analysts and consultants have developed brand valuation and reputation methodologies, which are starting to have a relative weight in business management. The proposed research work is a review of the current methodologies of reputation valuation as a starting point for creating a reference model formula for the valuation of intangibles that provide professionals and experts in the field with a worldwide recognized tool.

Research on Geographical Indications and Cultural Heritage of Famous Tea in Hubei

In the study, analysis was made on present situation and development measures of geographical indications and cultural heritage protection of famous teas in Hubei Province. In addition, 8 related suggestions were proposed as well.

Protection and Development of Rural Intangible Cultural Heritages in Shaanxi Province,China

The significance of protection and development of rural intangible cultural heritages was elaborated from the perspectives of rural harmonious culture,rural cultural innovation and rural cultural industry.Based on these analyses,the present protection and development of rural intangible cultural heritages in Shaanxi was illustrated.In the end,all-dimensional countermeasures covering government,inheritors,NGO and the public were proposed for the effective protection and rational development of rural intangible cultural heritages in Shaanxi Province.

Local Transfer of Surplus Labors and Protection of Intangible Cultural Heritages in Fenghuang County of West Hunan Province,China

The significance of local transfer of surplus rural labors in regions of minorities for the protection of intangible cultural heritages was discussed from 3 perspectives:definition of intangible cultural heritages,significance of protecting and inheriting intangible cultural heritages,and the role of local transfer of surplus rural labors in protecting and inheriting intangible cultural heritages.By taking Fenghuang County(Phoenix County)in west Hunan Province for an example,local transfer of surplus rural labor forces was proposed,and it was suggested that such a transfer could be realized from the following aspects:promoting industrialization of agriculture,developing tourism industry in rural regions of minorities,supporting rural labors to start their own business,attracting university graduates to return to their hometowns for founding their own undertakings.Moreover,relevant strategies were elaborated to increase income of rural residents,guarantee the efficient inheritance and protection of intangible cultural heritages in regions of minorities.

Study on the Integration of Tourism Industry and Intangible Cultural Heritage—A Case Study of the Core Blackland in the Cold Region,Suihua City of China

Integration,innovation and mutual promotion of intangible cultural heritage and tourism development were studied from the perspective of industrial integration.Suihua City,the core blackland in the cold region,was taken for an example to discuss feasibility and necessity of integrating intangible cultural heritage and tourism industry by analyzing its natural geographical characteristics and intangible cultural heritage.Patterns of such integration were analyzed from 4 aspects:tourism in location regions of intangible cultural heritage,development of tourist souvenirs,festival tourism,dynamic tourism of intangible cultural heritage.Suggestions were given for the integration of intangible cultural heritage and tourism industry in Suihua City,further exploration and innovation of intangible cultural heritage valued to create brand effects,guiding and protective role of government stressed.

Protective Measures for Space Environment of Time-honored Brands——With Xi'an City as a Study Case

Based on the field survey and analysis of representative traditional time-honored shops in Xi'an City,specific measures for protecting their space environment were put forward,and the sustainable preservation and development pattern of such intangible cultural heritages in the future urban development was established.

Rural Tourism Development Theory and Practice of Intangible Cultural Heritage in Rural Minority Areas of Sichuan Province,China——A Case Study of Kasidawen in Heishui County,Aba Prefecture of Sichuan

Researches on tourism development of intangible cultural heritage were introduced,and market gaps in the tourism development of intangible cultural heritage in ruralminority areas of China were proposed.On the basis of investigation and interview about Kasidawen in Heishui County the author participated in,a National-level Intangible Cultural Heritage,interview and questionnaire survey were adopted in this study,and the following problems were concluded:tourists having only limited knowledge about tourism development of Kasidawen;multilayered demands of tourist market;intangible cultural heritage of Sichuan Province as a whole is not widely-known because of insufficient publicity;tourists preferring tourism products that they participated in.Characteristics of intangible cultural heritage in Heishui County were summarized as strong national characteristics and unique cultural heritage,on the basis of which the "Kasidawen-based" Tourism Development Mode was proposed to change its present condition of "having only natural landscapes but no cultural connotation",and improve the cultural taste and level of tourism development in Heishui County,by arranging cultural functions and industries from the perspectives of both hardware and software facilities,and taking other types of resources as the supplement,useful theoretical references were given for rural tourism development of intangible cultural heritage inminority areas of China.

Significance of the Design and Development of Traditional Peasants' Products for Tourist Commodities——A Case Study of Nini Dog in Huaiyang County,Henan Province,China

Nini Dog of Huaiyang County,one of the provincial-level intangible cultural heritage of Henan,has high artistic,cultural and archaeological value.It is proposed that protection and inheritance of national cultures,as well as innovation based on the inheritance are of great significance to improve the marketing and economic efficiency of these cultures.On this basis,the necessity of further development of Nini Dog commodities is analyzed,which is the need of both tourism development and its own development.This study through full investigation gives the orientation of Nini Dog commodities,potential consumers are classified into 3 groups:people interested in traditional cultures,tourists and children;consumer psychology is analyzed and then design orientation of Nini Dog is proposed,it is stressed that identity design should be enhanced to establish brands,creative commodity design promoted to explore new development thoughts,and composite design encouraged to expand the market.By doing this,the study aims at providing design and development guidance for the future development of Nini Dog commodities.

The IAS/IFRS application on the intangible assets of non-listed companies

With the introduction of IFRS （International Financial Reporting Standards） most of the intangibles are expensed on the income statement and hence they ＂disappear＂ from the balance sheet, while investments in tangible assets are capitalized. Based on a sample of 128 firms, made up of 99 SMEs （Small and Medium Enterprises） and 29 large firms, and through a simulation of IAS （International Accounting Standards） transition, the authors＇ study finds that IAS 38 reduces the amount of intangible assets recognized on the balance sheet of SMEs, while large firms do not appear to experience such large reductions in their intangible assets. The differential effect of IAS 38 on SMEs and large firms can be explained by the different growth strategies of these firm types. SMEs largely depend on internal paths of growth and intangibles assets that typically arise from internal growth strategies are eliminated from the balance sheet under IAS 38. Larger firms are less exposed to such reductions in their intangibles assets, because they mostly follow external paths of growth and the treatment of those intangible assets that typically arise from external growth strategies requires the impairment test.

Exploitation and Inheritance of Intangible Cultural Heritage in Landscape Reconstruction of Abandoned Quarry Pit—A Case Study of Landscape Reconstruction of Quarry Pit in Xiaosi’ao Scenic Area of Xinchang County

Through the study on landscape reconstruction of abandoned quarry pits in mountainous area of Jiangzhe District, it was pointed out that it was of not only practical significance but also ecological significance of sustainable development to some extent, to scientifically and rationally rebuild and exploit abandoned quarry pits and to create new landscape, so that their landscape value and environmental benefit would entirely improve and that culture would be inherited and developed by making use of overt cultural fragments.