@article{article_474769, title={The Effect of Intangible Assets Investments on Firms’ Financial Performance in Turkey}, journal={Ege Academic Review}, volume={16}, pages={397–414}, year={2016}, author={Fındık, Derya and Ocak, Murat}, keywords={Intangible Assets, Financial Performance, R&D}, abstract={The aim of this study is to determine the effect of intangible assets investment on firms’ financial performance. In this study, we analyze the impact of intangible assets on firm performance in Turkey by using Borsa İstanbul (BIST) National All Shares Index (XUTUM) database for the years 2005-2013. Intangibles are classified into three categories; innovative property, computerized information and database, and economic competence. Innovative property includes patents, licences, films, rights, and research and development activities. Computer software, information systems, computer programmes, and customer databases are in the second category. The third group emphasizes the economic impact of the intangibles such as advances given, agreements, and special costs. We apply fixed effects approach in this study to estimate the impact of each intangible component on firm performance. We find out a positive relationship between return on assets and intangible assets. As far as the intangible component that generates an improvement in firm performance is considered, innovation property-especially rights and licencescomes to the fore}, number={3}, publisher={Ege University}