Resumo

HERRERA RODRIGUEZ, Edila Eudemia  e  ORDONEZ CASTANO, Iván Andrés. Intangible resources disclosed in the Panama stock market. Contad. Adm [online]. 2019, vol.64, n.4, e126.  Epub 12-Maio-2020. ISSN 0186-1042.  https://doi.org/10.22201/fca.24488410e.2018.1694.

This paper analyzes factors that could explain the disclosure of information on intangible resources by companies listed on the Panamanian Stock Market. Greater transparency is a growing need for firms listed on the stock market, especially because of market pressures themselves. The research was based on three theories: agency, signage and owner cost. A sample of 61 companies was analyzed, using an index with 145 indicators, distributed in five categories of intellectual capital: human, technological structural, organizational structural, business relational and social relational. Probabilistic models were developed regarding the disclosure of these components of intellectual capital. The results show that companies with higher volumes of assets, operational profitability, level of indebtedness and time in the market, increase the probability of disclosure of their intangibles.

Palavras-chave : Disclosure information; Intangible assets; Intellectually capital; Panama stock market.