The estimation of trademarks value and its test on value relevance

• Main Authors: Chiou-Jiu Deng, 鄧秋菊
• Other Authors: Shou-Min Tsao
• Format: Others
• Language: zh-TW
• Published: 2002
• Online Access: http://ndltd.ncl.edu.tw/handle/18838077018494804762

碩士 === 中原大學 === 會計研究所 === 90 === Abstract In the area of intangible assets, trademarks are the intelligence property right most highly connected with industries and businesses. The benefits of trademarks mainly come from the increase of firm’s sales. First, this study construct an estimation method of trademarks values by the association between firm’s trademarks and their sales. Second, we use Ohlson(1995) model and return model to examine the value relevance of trademarks registration usage’s items and their estimation value. Third, we also examine the influence of Amendments of Trademarks Laws on the relevance of trademarks. The empirical results find that: 1. On the average, trademarks estimation values are 2.01 times of market values, and 1.18 times of total assets. 2.Trademarks estimation values have value relevance in the price model and return model, while trademarks usage’s item don’t. 3.The Amendments of Trademarks Laws in 1993 and 1998 increase the value relevance of trademarks in Taiwan’s capital market. The method of trademarks estimation values is creative and can be applied to the estimation values of other intangible assets not listed in financial statements. We have examined the value relevance in different ways, so the results should be persuasive. The conclusions of our study have reference values for academy, industries, standard setters, businesses and investors.