THE CONCEPT OF ECONOMIC–MANAGERIAL GOODWILL: INTERNATIONAL BIBLIOGRAPHIC RESEARCH

Research background: The concept of goodwill has been a major economic problem for over 200 years. Goodwill creation and quantification is interdisciplinary, for example, in accounting, economics, and marketing. Goodwill is an intangible asset associated with the purchase of a company. Specifically, goodwill is the portion of the purchase price that is higher than the sum of the net fair value of all assets purchased in the acquisition and the liabilities assumed in the process. The value of a company’s brand name, robust customer base, good customer relations, commendable employee relations, and proprietary technology represent a few reasons why goodwill exists. Purpose: Broadly, the value of company goodwill increases the company’s overall market value. In both economic theory and practice, this situation can arise where there is a difference between the company’s market value and book value. Any debate about goodwill is reasonable because the origin of goodwill can be defined, but an interpretation of its value is always a challenge. Methods: This study analyses scientific three databases, namely Web of Science, Scopus, and Social Science Research Network, applying descriptive statistics and science maps. In addition, the study provides a holistic overview of the historical development of the concept of goodwill from 1842 to the present. Findings and value-added: The study works with VOSviewer software. The results provide a holistic overview of the evolution of the concept of goodwill in the scientific commu

Using of cryptocurrency in the sphere of the hotel and restaurant state to tourism

The article explores the use of cryptocurrencies in hotels, restaurants and the tourism industry. Analyzed the legislative aspects that regulate the turnover of cryptocurrencies. In the course of the research, a monographic and abstract-logical method was used (to substantiate the importance of using cryptocurrencies in the hospitality industry and the advantages of implementing a Blockchain system), in addition, methods of comparison, analogy, analysis, synthesis and generalization were used to reveal the content of basic concepts and terms. Today, modern digital currency is presented as an alternative form of money, however, in many countries, operations with cryptocurrency are prohibited in the banking system. In Ukraine, a procedure has been established for declaring cryptocurrencies, where bitcoins are an intangible asset. The Securities and Exchange Commission is starting to develop new tax legislation that aims to legitimize this type of currency. The hospitality industry is especially active in adopting new technologies. Cryptocurrencies allow consumers to pay for services electronically anonymously without the need to use banking institutions. The most popular among all cryptocurrencies is Bitcoin. The first tangible growth in bitcoins occurred precisely in the field of restaurant management due to the purchase of pizza on one of the forums. Today hundreds of restaurants and cafes around the world accept cryptocurrency payments. Blockchain benefits include cost efficiency, standardization, and secure communications. Data such as manufacturer ID and production date is hashed and stored in the Blockchain. Each organization in the supply chain, after receiving the product, adds its unique identifier and the corresponding blockchain date. Cryptocurrency is a very convenient way to pay for goods and services. More and more restaurant establishments are allowing crypto payments. This prompts the authorities of the countries to develop regulatory documents that contribute to the legalization of such transactions, not only in the field of hospitality.

The Effect of Intangible Asset, Capacity of Financial Resource and Regulation. Evidence from Financial Performance of Small Business Firms

The purpose of this study was to examine and analyze the effect of intangible assets, financial resources, and regulations on the financial performance of small businesses firms in Balikpapan. The development of Balikpapan City with many national and international events has led to the development of the small business sector in this city. This informal sector is a form of business that really helps the family economy. The research samples were 80 units of small businesses. Data collection was conducted using questionnaires and techniques to examine hypotheses it was used descriptive analysis and regression analysis using SPSS 24. The results show that intangible assets and regulations affect financial performance while financial resources have no effect on financial performance.

Accounting for intangible assets – insights from meta-analysis of R&D research

PurposeThe knowledge- and Internet-based economy demands a reexamination of the accounting treatment for intangibles and a thorough understanding of the empirical evidence on this topic.Design/methodology/approachThe study reviews the literature on research and development (R&D), a specific internally developed intangible asset, using meta-analysis techniques that allow to highlight the areas of consensus and disagreement in quantitative empirical results. The literature the authors review addresses four main research questions on (1) the determinants of the decision to capitalize R&D, (2) stock market-based outcomes of capitalizing R&D, (3) firm-based outcomes related to expensing R&D and (4) stock market-based outcomes of expensing R&D.FindingsThe authors find higher value relevance of capitalized compared with expensed R&D. There is, however, little robust evidence on the determinants of the capitalization decision and the characteristics of capitalizers.Originality/valueThe authors conclude by highlighting future research that can allow accounting academics to contribute to standard setting.

Perception Measurement of City Brand Archetype in Xiamen, Zhangzhou, and Quanzhou-Based on Projection Method Analysis

City branding is the most concentrated embodiment of city image and the most valuable intangible asset of a city. City branding can attract investors, talents, tourists, and the public’s attention to the city, as well as enhance the competitiveness of the city and bring greater economic benefits and growth potential to the city. Past studies in the context of city branding systematically focus on the development, shaping and communication. Little is known on the combination of city branding and brand archetypes. The projection technique is applied for this research. The objective of this research is to explore the archetypes of city brand based on the Twelve Chinese Cultural Archetypes theory, and takes Xiamen, Zhangzhou, and Quanzhou as the examples. The research reveals that Xiamen belongs to the archetype of “Beauty”, Zhangzhou is close to the archetype of “Neighborhood”, and Quanzhou belongs to the archetype of “Benevolent”.

Time as a key resource for the effective operation of the Russian agro-industrial complex in digital transformation context

The article discusses the features of the activities of enterprises of the Russian agro-industrial complex in digital transformation context. The main types of resources used by them for effective work are highlighted and the task is to study time as an intangible asset that can be used to increase the efficiency of activities. This category is considered from the standpoint of classical science, its definition is given and the main properties are highlighted. The necessity of studying time as a resource and its use in the work of enterprises as a factor in the growth of profitability has been substantiated. The analysis of classical and modern systems of organizing the work of enterprises, including their tools. Based on the analysis, it has been established that during the period of digital transformation of the economy and the agro-industrial complex, little attention is paid to time as a resource, and the rational use of resources needs to be improved. For this reason, the digitalization of the agro-industrial complex is considered as the main vector of the development of the complex. The main directions of its transition from the traditional form to new methods of work, its elements, ways of reducing errors and increasing the competitiveness of enterprises in this sector of the economy are shown. The main advantages of such a development are presented. In the course of further analysis, it was found that the time factor in the agro-industrial complex during the period of digital transformation plays a key role. Time has been proven to be both a factor and a resource. It is concluded that the competent use of all types of production resources in time allows to obtain a synergistic effect.

Legal status of cryptocurrency in Asian countries

The article is devoted to the study of the experience of legal regulation of the legal status of cryptocurrencies and transactions with them in Asian countries (except for the People's Republic of China and Asian countries - members of the Commonwealth of Independent States, as the author examined them in separate publications). In the article the author, based on the study of regulations, administrative and judicial practice of all major countries in this part of the world, emphasizes the divergent trends in cryptocurrency transactions regulation in the region, when some countries move from a liberal approach to the use of cryptocurrencies to their total ban and vice versa. It is noted that almost all countries in the region give a legal assessment of the payment function of cryptocurrencies, using regulatory or prohibitive approaches, depending on the chosen policy, which indirectly confirms their understanding of the legal nature of cryptocurrencies primarily as a means of payment. At the same time, these countries not only categorically distinguish cryptocurrencies from fiat money issued by central banks, but also mostly avoid the official definition of cryptocurrency as private (decentralized) cash, preferring to qualify them as an intangible asset, virtual asset, digital asset, financial value and even a good or service, which is currently a kind of compromise between political expediency and economic realities. The author also notes that the Asian region is characterized by very active attempts to resolve the legal status of cryptocurrencies at the legislative level, and not just administrative or judicial response to the actual legal relationship, although the progress of different countries in this matter is different. As a result, the author concludes that in the Asian countries considered in the article, there is no same view on the legal nature of cryptocurrency, its qualification as an object of civil rights, and ways to regulate transactions with it (libertarian approach, positive-cryptocurrency approach but with detailed government regulation and control or a completely restrictive policy in relation to the cryptocurrency market).

A TOPSIS-Based Model for Evaluating the Performance of the Intellectual Property Value Strategies of Science and Technology Enterprises

Intellectual property comes with risks such as value evaluation and externalities. It is an intangible asset involving a large investment and a long return period; however, it plays an important role in enhancing the competitiveness of enterprises. Some companies see intellectual property as being a long-term development strategy, which makes evaluating the performance of corporate intellectual property particularly important. The TOPSIS method is widely used to evaluate the pros and cons, as well as the performance of various programs. It can make full use of the data to accurately reflect the gaps in various programs. This paper uses the TOPSIS method to evaluate the performance of the intellectual property value strategy of six typical technology companies based on three dimensions: financial performance, external performance, and value chain performance. The study found that the value chain performance was the most important in the performance evaluation of the intellectual property value strategy, followed by the external performance, and then by the financial performance. There were also significant differences in the intellectual property value strategy of the six technology companies.

Display of cryptocurrency in accounting

The purpose of the research to determine the main features of the use of cryptocurrency and its identification as an object in the account. A comparative description of cryptocurrencies, electronic money and paper money is given. It has been established that there are no grounds to classify various types of cryptocurrencies in the accounting system as ordinary currencies or assets in a given period of time because they: are not regulated by any jurisdictions; it is not possible to identify the issuer or the specific organization responsible for its issuance; cryptocurrency exists only in the virtual Internet environment. Methods. General scientific methods and approaches, systematic approach, general research methods (analysis, synthesis, generalization, comparison), statistical methods. Results. The list of stages for reflection of activity of the business entity with use of cryptocurrency is offered and considered. The mining process is analysed and the list of cost items for the extraction of new digital coins is highlighted. The variant on reflection in the account of operations with cryptocurrency on accounts of accounting is offered. There are options for reflection in the accounting of cryptocurrency depending on its recognition: virtual goods, intangible assets, financial investments, digital money. To calculate the cost of cryptocurrency obtained by self-extraction, it is necessary to consider the main costs that need to be identified and reflected in the account. In addition to cryptocurrency, you can extract altcoins, lightcoins or convert cryptocurrencies into stablecoins, which cannot be extracted, but can only be purchased. The article presents the main aspects of calculating the cost, which include: the cost of electricity for individuals and legal entities in the country; the cost of the necessary equipment, its depreciation and maintenance, depreciation; residual value at which you can sell old mining equipment; hash – the speed of solving mathematical problems with one or another equipment; network load and production complexity; monetary value or exchange rate of a particular cryptocurrency or digital assets. Practical meaning. Despite all the scientific developments, the issue of accounting for cryptocurrency from the point of view of IFRS is quite debatable. On the one hand, most propose to account for it as a specific intangible asset. Virtual currency is a huge amount of computing power and digital assets. At this stage of technological development of mankind, cryptocurrency is gaining a stable position in the international market. Prospects for further research. Rapid development is causing further capacity growth and interest, but may eventually lead to collapse. However, if the price stability of the cryptocurrency is achieved, it can be used in international transactions, not just for speculative gain. However, this issue will be directly related to the legalization of the new currency and its recognition by central banks as a means of exchange or storage of money. There is a need for further research to understand the basic conditions for the use of digital currency in the payments market.

Corporate Reputation and Customer Satisfaction in the Telecommunication Industry in Nigeria

Despite the widespread belief that corporate reputation is a valuable intangible asset that helps firms to compete favourably in the telecommunication industry, the scientific evidence is deficient on how corporate reputation influence customer satisfaction in the study area. The study focused on the relationship between corporate reputation and customer satisfaction. The survey research design method was employed in the study. The research instrument was a validated structured questionnaire. The reliability of the questionnaire was estimated by assessing the internal consistency of the items representing each construct. Cronbach’s alpha was used to establish the reliability of the constructs. The correlation and multiple regression analyses were used in the study. The sample size of 135 respondents was administered with the questionnaire. The finding of the analyses revealed that trustworthiness (B = 0.251, P<.001); corporate social responsibility (B = 0.283, P<.001); credibility (B = 0.198, P<.001) and reliability (B = 0.219, P<.001) were respectively significant and exhibited significant positive effects on customer satisfaction. The major conclusion that emerged from the findings is that corporate reputation is a multifaceted construct whose dimensions have significant positive relationships with marketing performance outcome of customer satisfaction in the mobile telecommunications services industry. In the competitive context, managers should apply the dimensions of corporate reputation that is appropriate for their target segment and develop their customer satisfaction strategy.