Intangibles' accounting for knowledge era

It is widely accepted that organizations have entered a new era called knowledge era, which is characterized by prevalence of innovation, especially in high technology, in spread of communication, in new organizational forms, and intangible factors creating added value for companies. The main motives that boost market value are intangible assets, which are described also as the new wealth of organizations or the innovative notion of companies wealth. As Goldfinger (1997) suggested the source of economic value is no longer the production of material goods but the creation and manipulation of intangible assets. Hence, the present paper aims at focusing on the presence of intangibles in the listed companies in Portugal and Poland, based on the calculation of the market-to-book value ratios. This research intends to identify and explain similarities and differences between the two countries.