INTANGIBLE DETERMINANTS OF MARKET VALUE IN THE NEW ECONOMY: A DYNAMIC PANEL DATA ANALYSIS OF THE INDIAN SOFTWARE INDUSTRY

被引：3
作者：
De, Supriyo [1 ,2 ]
机构：
[1] Univ Sydney, Fac Econ & Business, Sydney, NSW 2006, Australia
[2] Minist Finance, New Delhi 110001, India
来源：
SINGAPORE ECONOMIC REVIEW | 2009年 / 54卷 / 03期
关键词：
Dynamic panel data; Indian software industry; intangible capital; new economy; market valuation; GROWTH;
D O I：
10.1142/S0217590809003392
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Intangible assets like human capital and organization capital have driven the success of India's software industry. This article analyzes the impact of intangible assets on the market value of Indian software firms using a dynamic panel data model. Measures of tangible and intangible assets are constructed using firm-level panel data. The estimation technique uses system generalized method of moments (GMM) and minimum distance estimation (MDE). This methodology accounts for unobserved firm heterogeneity, endogenous explanatory variables and persistent variables. The results conclusively show that intangible assets have a significant impact on market values of Indian software firms.
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页码：379 / 398
页数：20
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