Received:
2026-05-20 | Accepted:
2026-07-11 | Published:
2026-09-30
Title
The importance of intangible assets in today's digital economy
Abstract
The right perspective on intangibles can change the views of management, accounting professionals and clients alike. The changes will continue to evolve, so it is very important to understand the conditions and factors that have shaped the current economy: the internet, globalisation, and consumer preferences. The knowledge and digital economies are closely intertwined; intellectual capital is now no less important than technology. Thus, intangible assets are driven by both human resources and artificial intelligence because the digital economy was designed by people, for people, and built on knowledge. The paper approaches intangibles from different perspectives, for example, the accounting perspective looks at their classification, valuation and reporting in financial statements; the psychology perspective looks at the perception of value and the impact on behaviour in decision making; the marketing perspective looks at brands, customers, and the ethics perspective focuses on the relationship between intangibles and social life. The shift in focus from physical production to knowledge generation is a key benchmark in the evolution of intangibles within enterprises' asset structures. Creativity, through the development of patents, know-how or technological performance, is increasingly contributing to the creation of more value. Regulating the recording of intangibles is complex. Still, because intangibles are present in all areas of activity, the rules need to be as clear as possible so that companies' financial positions are presented as transparently as possible.
Keywords
intangible assets, digital economy, Artificial Intelligence, intellectual capital
JEL classifications
M41
, J24
, O15
URI
http://jssidoi.org/jesi/article/6681
DOI
Pages
241-256
Funding
This research was funded by the project 'Links between Theory and Practice in Cross-Border Education in Romania-Ukraine' – LINKSROUACBE, ID HUSKROUA/23/RS/3.1/043, under the Interreg VI-A NEXT Hungary-Slovakia-Romania-Ukraine 2021–2027 Programme.
This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License
References
https://doi.org/10.3390/systems7020020
Search via ReFindit
105133 https://doi.org/10.1016/j.respol.2024.105133
Search via ReFindit
A note: An earlier version of the abstract of this paper was presented at the 44th IBIMA Conference, held on 27–28 November 2024, in Granada, Spain. /jesi/article/6681
Search via ReFindit
Acknowledgments. This research and publication were carried out within the framework of the project 'Links between Theory and Practice in Cross-Border Education in Romania-Ukraine' – LINKSROUACBE, funded by Interreg VI-A NEXT Hungary-Slovakia-Romania-Ukraine 2021-2027, ID HUSKROUA/23/RS/3.1/043. 'This material was produced with the financial support of the European Union. Its contents are the sole responsibility of the lead partner and do not necessarily reflect the views of the European Union. /jesi/article/6681
Search via ReFindit
Anderson, S.B., Mendoza, K.I., & Mongold, C. (2025). The Effect of Intangible Asset Classification on Professional Financial Statement Users' Assessments. Journal of Accounting Research, 63(3), 1107-1143 https://doi.org/10.1111/1475-679X.12604
Search via ReFindit
ANEVAR. (2022). Asset valuation standards (pp. 143-168) https://www.anevar.ro/images/_upload/sev-2022-15-decembrie.pdf
Search via ReFindit
Aramburu, N., & Saenz, J. (2011). Structural capital, innovation capability, and size effect: An empirical study. Journal of Management and Organization, 17(3), 307-325 https://doi.org/10.5172/jmo.2011.17.3.307
Search via ReFindit
Barker, R., Lennard, A., Penman, S., & Teixeira, A. (2021). Accounting for intangible assets: Suggested solutions. Accounting and Business Research https://doi.org/10.2139/ssrn.3706435
Search via ReFindit
Bongaerts, D., Kang, X.W., & van Dijk, M. (2026). Revisiting Asset Pricing Models: The Case for an Intangibles Factor. Financial Management, 55(2), 187-208 https://doi.org/10.1111/fima.70001
Search via ReFindit
Bostwick, E. D., Krieger, K., & Lambert, S. L. (2016). Relevance of goodwill impairments to cash flow prediction and forecasting. Journal of Accounting, Auditing, 31(3), 339-364 https://doi.org/10.1177/0148558X15596201
Search via ReFindit
Bratianu, C., & Bejinaru, R. (2019). The theory of knowledge fields: A thermodynamics approach. Systems, 7(2), 1-12. /jesi/article/6681
Search via ReFindit
Caloghirou, Y., Piekkola, H., & Bounfour, A (2025). New spectrum of intangible assets. Science and Public Policy, 52(6), 889-892 https://doi.org/10.1093/scipol/scaf049
Search via ReFindit
Dong, F., & Doukas, J. (2025). The Role of Intangible Assets in Shaping Firm Value. European Financial Management, 31(4), 1325-1353 https://doi.org/10.1111/eufm.12547
Search via ReFindit
Einar, H. D. (2024). Estimated number of companies worldwide from 2000 to 2023, by region. Statista. Retrieved from https://www.statista.com/statistics/1260719/global-companies-by-region/
Search via ReFindit
Firmansyah, E.A., Umar, U.H., & Musa, S. (2024). Accounting for intangible assets: a systematic review. International Journal of Learning and Intellectual Capital, 21(4) https://doi.org/10.1504/IJLIC.2024.142386
Search via ReFindit
Funding: This research was funded by the project 'Links between Theory and Practice in Cross-Border Education in Romania-Ukraine' – LINKSROUACBE, ID HUSKROUA/23/RS/3.1/043, under the Interreg VI-A NEXT Hungary-Slovakia-Romania-Ukraine 2021–2027 Programme. /jesi/article/6681
Search via ReFindit
Gambetti R.C., Melewar, T.C., & Martin, K.D. (2017). Ethical management of intangible assets in contemporary organisations. Business Ethics Quarterly, 27(3), 381-392 https://doi.org/10.1017/beq.2017.21
Search via ReFindit
Gutierrez, E.S., & Villavicencio, D.M.C. (2024). Corporate intangible assets. legal and financial accounting basis for the category systematisation. Revista La Propiedad Inmaterial, 37, 199-221 https://doi.org/10.18601/16571959.n37.08
Search via ReFindit
Hashimzade, N., Myles, G., & Black, J. (2017). A dictionary of economics (5th ed.). Oxford, UK: Oxford University Press https://www.oxfordreference.com/
Search via ReFindit
IAS 38. (2001). Intangible assets. International Accounting Standards Board. Retrieved from https://www.ifrs.org/issued-standards/list-of-standards/ias-38-intangible-assets/
Search via ReFindit
Intara, P., & Suwansin, N. (2024). Intangible assets, firm value, and performance: does intangible-intensive matter? Cogent Economics & Finance, 12(1), Article Number 2375341 https://doi.org/10.1080/23322039.2024.2375341
Search via ReFindit
Ionita, C.G. (2020). The need for rethinking the model of assessing value in the digital economy context. Proceedings of the International Conference on Business Excellence, 14(1) https://doi.org/10.2478/picbe-2020-0017
Search via ReFindit
Leitter, Z., Koonce, L., & White, B. (2025). Business Acquisition Disclosures: The Effect of Identifying Intangible Assets on Investors' Judgments. Management Science, 71(12) https://doi.org/10.1287/mnsc.2023.02673
Search via ReFindit
Li, Z., Shroff, P.K., Venkataraman, R., & Zhang, I.X. (2011). Causes and consequences of goodwill impairment losses. Review of Accounting Studies, 16, 745-778 https://doi.org/10.1007/s11142-011-9167-2
Search via ReFindit
Melewar, T.C. (2003). Determinants of corporate identity construction: A literature review. Journal of Marketing Communications, 9(4), 195-220 https://doi.org/10.1080/1352726032000119161
Search via ReFindit
Mercedes, G.A., & Maudos, J. (2022). The importance of intangible assets in regional economic growth: A growth accounting approach. The Annals of Regional Science, 69, 361-390 https://doi.org/10.1007/s00168-022-01138-6
Search via ReFindit
Moore, J.F. (1993). Predators and prey: A new ecology of competition. Harvard Business Review, 71(3), 75-84 https://hbr.org/1993/05/predators-and-prey-a-new-ecology-of-competition
Search via ReFindit
Nonaka, I., & Takeuchi, H. (1995). The knowledge-creating company: How Japanese companies create the dynamics of innovation. New York, NY: Oxford University Press https://doi.org/10.1093/oso/9780195092691.001.0001
Search via ReFindit
Ocak, M., & Fındık, D. (2019). The impact of intangible assets and sub-components of intangible assets on sustainable growth and firm value: Evidence from Turkish listed firms. Sustainability, 11(19), 5359 https://doi.org/10.3390/su11195359
Search via ReFindit
Park, A., Maine, E., Fini, R., Rasmussen, E., Di Minin, A., Dooley, L., Mortara, L., Lubik, S., & Zhou, Y. (2024). Science-based innovation via university spin-offs: the influence of intangible assets. R & D Management, 54(1), 178-198 https://doi.org/10.1111/radm.12646
Search via ReFindit
Penman, S. (2023). Accounting for Intangible Assets: Thinking it through. Australian Accounting Review, 33(1), 5-13 https://doi.org/10.1111/auar.12394
Search via ReFindit
Polanyi, M. (1958). Personal knowledge: Towards a post-critical philosophy. London, UK: Routledge https://martin.kcvs.ca/phil334/papers/polanyi-m-personal-knowledge-towards-a-post-critical-philosophy.pdf
Search via ReFindit
Rider, E.A., Comeau, M., Truog, R.D., Boyer, K., Meyer, E.C. (2019). Identifying intangible assets in interprofessional healthcare organisations: feasibility of an asset inventory. Journal Of Interprofessional Care, 33(5), 583-586 https://doi.org/10.1080/13561820.2018.1544118
Search via ReFindit
Rogers, E. M. (2003). Diffusion of innovations (5th ed.). New York, NY: Free Press https://books.google.lt/books/about/Diffusion_of_Innovations_5th_Edition.html?id=9U1K5LjUOwEC&redir_esc=y
Search via ReFindit
Roth, F., & Mitra, A. (2025). EU competitiveness: the critical role of intangible assets in labour productivity growth. Journal of Economic Policy Reform, 28(4), 485-504 https://doi.org/10.1080/17487870.2025.2571479
Search via ReFindit
Song, S. X. (2025). Digital vs. Traditional Advertising and the Recognition of Brand Intangible Assets. Management Science, 71(3) https://doi.org/10.1287/mnsc.2022.00387
Search via ReFindit
Uribe, J. M. (2025). Investment in intangible assets and economic complexity. Research Policy, 54(1), Article Number /jesi/article/6681
Search via ReFindit
Wyatt, A. (2005). Accounting recognition of intangible assets: Theory and evidence on economic determinants. Accounting Review, 80, 967-1003 https://doi.org/10.2308/accr.2005.80.3.967
Search via ReFindit
Xiong, F., Xie, M. Y., Zhao, L. J., Li, C., & Fan, X. (2022). Recognition and Evaluation of Data as Intangible Assets. Sage Open, 12(2), Article Number 21582440221094600 https://doi.org/10.1177/21582440221094600
Search via ReFindit
Yue, W., & Zhao, J. Y. (2026). Invisible assets, visible power: How does intangible capital affect firm markups? International Review of Economics & Finance, 108 https://doi.org/10.1016/j.iref.2026.105299
Search via ReFindit
RSS 1.0