When the fair value accounting (FVA) option for property, plant, and equipment was introduced in the midst of the global financial crisis, a significant proportion of Korean firms elected FVA. We attribute this unusual boom of asset revaluations to the nation’s culture of government...

Intangible assets — which include intellectual property (IP) — may involve marketing, customers, artistic works, contracts and technology that provide various economic benefits. Intangible assets generate value for businesses through: i. Direct use by contributing to product/service revenues...