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I.T. Investment and Intangibles: Evidence from Banks (Martin Oliver A., Salas-Fumas V.)

Structure of Assets&Liabilities

Abstract This paper models the investment behaviour of a multi-asset firm with market power that accumulates valuable intangible assets to complement the IT capital. The investment model is estimated using data from Spanish banks on assets of different nature: material (branches, financial), immaterial (advertising and IT) and intangible (training of workers). The paper estimates that the representative bank spends five additional Euros per Euro invested in IT-related assets in complementary intangible assets or, equivalently, intangibles amount to approximately 10% of the economic value of the representative bank. The remaining economic value is distributed between 28% from rents attributed to market power, and 62% to the cost of market-purchased assets.
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Libref/ Martin Oliver A., Salas-Fumas V. (2010) "I.T. Investment and Intangibles: Evidence from Banks", Banco de Espana Working Paper No. 1020, pp. 1 - 34
© Программирование — Александр Красильников, 2008
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