Hidden intangible assets: evidence from the UK hospitality sectors

This paper examines the effect of unrecorded intangible items on the abnormal earnings of UK listed hotels, public bars, and restaurants. The analysis focuses on measurement of the auto-correlation coefficient of intangible assets and abnormal earnings over a long period. Sample firms were selected from UK listed firms over a period of 11years. Key points: unrecorded intangible assets; persistence of abnormal earnings; hospitality.