Stock analysts' assessments of the shareholder value of intangible assets

Marketing decisions create intangible assets. In the absence of formal intangible asset value reporting structures, the stock analyst acts as an independent valuation source who provides seemingly objective assessments of the shareholder value of a firm's intangible assets. Drawing on qualitative data from in-depth interviews with stock analysts, the authors investigate a series of antecedent factors that affect the accuracy of the stock analyst's assessment of intangible assets. The study collates these observations into several propositions that may serve as a basis for further research.