Business Administration, Management, and Operations Commons^™

Intellectual Capital Disclosure And The Ipo Prospectus: An Exploratory Study, Keith Harman

Faculty Publications and Presentations

ICD (Intellectual Capital Disclosure) was studied via content analysis of IPO (Initial Public Offering) filings by retailers versus software companies. Data were obtained from 106 firms’ SEC S-1 filings between 2001 and 2011. Key findings were: (1) ICD increased over time, (2) significant differences in the type of IC disclosed, (3) Structural Capital was the type of IC most frequently disclosed, (4) consistency among firms regarding the frequency with which specific IC components (e.g. brands) were disclosed, and (5) no significant difference in ICD when comparing retailers and software companies.