The Relevant Research Of The Intangible Assets Of Beverage Manufacturing Listed Companies And The Enterprise Value

In the era of knowledge economy, intangible assets get more and more attention, especially in the role of enterprise value creation. With the progress of science and technology, the status of the intangible assets also highlighted, it has unceasingly become one of the enterprise core competitive factors in the modern economic society. In2006,the Ministry of Finance issued new accounting standards. In this criterion, the concept of intangible assets and some changes have taken place in the range of application. The implementation of the new standards made some significant changes in the amount of intangible assets in listed companies. Business performance of the beverage manufacturing soared in recent years, and all kinds of battle over the right of trademark, advertising appeared, all of that is shown the industry’s emphasis on intangible assets.Based on above, this article will study the influence of intangible assets to the enterprise value in that listed companies of beverage manufacturing under the new guidelines after the implementation.Focus on the typical25listed bevarage manufacturing companies in our country, this paper carries out an analysis from the perspective of the qualitative and quantitative analysis. Firstly,this paper explains the role of intangible assets in the creation of the enterprise value through the theoretical analysis. Secondly, in order to know the current developmental status of intangible assets, this paper carries out an descriptive analysis of intangible assets of listed companies in the beverage manufacturing of our country. Finally, it carries out the empirical analysis to verify the practical role of intangible assets in the creation of enterprise value by using some models. Drawing on the experience by predecessors, the empirical analysis constructs the corresponding model to study the effect of intangible assets to the enterprise business performance, the value-relevance of intangible assets and the amortization and impairment information of intangible assets. In addition, it constructs the comprehensive model of performance appraisal to substitut the single index in the manufacturing of beverage to test the robustness on the model.The research achievement shows that the intangible assets of beverage manufacturing contains low-technology and makes a significant performance to the enterprise operating in short term, but the information of intangible asset has no value relevance for the stock market. By further using of the model to test the intangible asset which has removed of land use right, it also finds that the information has no value relevance to the stock market.