Purpose: This study analyses the relation of intellectual capital (IC) with future operating performance under the prism of different strategic orientations or explanations for the relation of IC with the future operating performance.Design/methodology/approach: Our final data sample consists of...

This study provides international empirical evidence for the asymmetric cost behavior of the cost of goods sold and the operating expenses in the context of the European non-listed firms. We employ a data sample of 4,177,625 firm years observations from Amadeus Database for the period 2009-2017...

This paper develops a novel framework for characterizing firms with respect to their intangible assets and investigates their impact on market valuations and operating performance. Our framework is based on a contemporary theoretical Knowledge Management concept, namely Intellectual Capital. We...

We explore the relation of CSR activities with SG&A cost stickiness and asymmetric sales response by using a data sample of 7.464 firm-year observations of European firms for the period 2009-2015. Our empirical findings indicate that SG&A expenses exhibit cost stickiness (anti-stickiness) in the...

This study explores the effect of financial distress on the intensity of asymmetric cost behavior. Cost asymmetry refers to the different (i.e., asymmetric) response of variable costs between increases or decreases in the level of a firm’s operating activity due to deliberate managerial...

The current study explores the asymmetric cost behaviour in US shipping industry. More precisely, it investigates whether various categories of expenses show asymmetric behaviour after increases or decreases in the stream of their revenues and examines the impact of leverage on managers'...

The current study examines the effect of strategy and managerial ability on asymmetric cost behavior of SG&A expenses. We use a sample of US listed firms for the period 1991-2014 to provide empirical evidence that sticky cost phenomenon is associated with firms' strategic orientation. Our...

This study investigates the effect of strategy on the intensity and direction of asymmetric cost behavior of SG&A expenses. Employing a sample of US-listed firms for the period 1991-2014, we provide empirical evidence that a firm's strategic orientation determines the direction and intensity of...

This study explores the valuation frameworks that financial analysts use to estimate the value of the firms based on their unreported intangible assets. We expect that the presence of significant volume of unreported intangible assets increases the idiosyncratic nature of a firm’s enterprise...