IMPACT OF INTANGIBLE ASSETS ON MARKET VALUE: AN ANALYSIS OF TÜRKIYE*

With the rapid advancement of technology, intangible assets have become increasingly crucial in determining business market value. This study investigates their impact on market value using Panel Data Analysis of 207 firms listed on Borsa Istanbul (BIST). This research is significant because it explores the under-studied negative relationship between intangible assets and market value within the context of an emerging market, providing unique insights that contrast with predominantly positive findings in developed economies. Panel Data Analysis is particularly suited for this research as It combines both cross-sectional and time-series data, facilitating a more comprehensive understanding of variations and relationships within the dataset. The analysis reveals that Intangible assets have a significant and negative impact on the market value of Turkish firms. This finding highlights a potential downside to intangible assets, suggesting they might not always enhance market value as expected. Consequently, it emphasizes the need for a more nuanced approach to evaluating intangible assets in financial analyses and strategic planning. Understanding these effects is essential for investors and firms alike to accurately assess and manage the value of intangible assets.