In the new economy where value drivers are shifting from tangible to intangibles resources, brands are the most familiar asset. They are well known by consumers, perceived as a critical component of enterprise value and often motivate large mergers and acquisitions. Yet, brands are a complex intangible asset, and their valuation is a difficult task requiring a variety of expertise: legal, economic, financial, sector-specific and marketing. Using rigorous methodologies, an analysis of the world of the new economy and an inquiry into the limits of modern valuation technics, this book offers empirical and theoretical background to the key issue of brand valuation. It provides answers to the many questions that arise when attempting to value a brand: How to understand the origin of brand value? How to assess its value objectively? Why valuations of some brands by consulting firms differ so widely? How to understand that some brands are valued millions of euros when the companies that own them are losing money? Brand Valuation explains the economics and finance factors explaining the value and volatility of brands and presents the most commonly used methodologies to value brands such as the cost methods, the excess earnings approach, the relief-from-royalty method or the excess revenue approach. The methodologies covered are illustrated with numerous examples allowing the reader to grasp the advantages and limits of each valuation techniques. The book presents the relevant context of brand valuation including the applicable existing accounting and valuation standards and also discusses the models developed by consulting firms.
In the new economy where value drivers are shifting from tangible to intangibles resources, brands are the most familiar asset. They are well known by consumers, perceived as a critical component of enterprise value and often motivate large mergers and acquisitions. Yet, brands are a complex intangible asset, and their valuation is a difficult task requiring a variety of expertise: legal, economic, financial, sector-specific and marketing. Using rigorous methodologies, an analysis of the world of the new economy and an inquiry into the limits of modern valuation technics, this book offers empirical and theoretical background to the key issue of brand valuation. It provides answers to the many questions that arise when attempting to value a brand: How to understand the origin of brand value? How to assess its value objectively? Why valuations of some brands by consulting firms differ so widely? How to understand that some brands are valued millions of euros when the companies that own them are losing money? Brand Valuation explains the economics and finance factors explaining the value and volatility of brands and presents the most commonly used methodologies to value brands such as the cost methods, the excess earnings approach, the relief-from-royalty method or the excess revenue approach. The methodologies covered are illustrated with numerous examples allowing the reader to grasp the advantages and limits of each valuation techniques. The book presents the relevant context of brand valuation including the applicable existing accounting and valuation standards and also discusses the models developed by consulting firms.
New edition of this major work examining the development of neoliberalism In this established classic, sociologists Luc Boltanski and Eve Chiapello get to the heart of contemporary capitalism. Delving deep into the latest management texts informing the thinking of employers, the authors trace the contours of a new spirit of capitalism. They argue that beginning in the mid-1970s, capitalism abandoned the hierarchical Fordist work structure and developed a new network-based form of organization founded on employee initiative and autonomy in the workplace—a putative freedom bought at the cost of material and psychological security. This was a spirit in tune with the libertarian and romantic currents of the period (as epitomized by dressed-down, cool capitalists such as Bill Gates and Ben and Jerry) and, as the authors argue, a more successful, pernicious, and subtle form of exploitation. In this new edition, the authors reflect on the reception of the book and the debates it has stimulated.
In this major work, sociologists Luc Boltanski and Eve Chiapello go to the heart of the changes in contemporary capitalism. Via an unprecedented analysis of the latest management texts that have formed the thinking of employers in their reorganization of business, the authors trace the contours of a new spirit of capitalism. They argue that from the middle of the 1970s onwards, capitalism abandoned the hierarchical Fordist work structure and developed a new network-based form of organization that was founded on employee initiative and autonomy in the workplace-a "freedom" that came at the cost of material and psychological security. The authors connect this new spirit with the children of the libertarian and romantic currents of the late 1960s (as epitomised by dressed-down, cool capitalists such as Bill Gates and "Ben and Jerry") arguing that they practice a more successful and subtle-form of exploitation. Now a classic work charting the sociological structure of neoliberalism, Boltanski and Chiapello show how the new spirit triumphed thanks to a remarkable recuperation of the left's critique of the alienation of everyday life that simultaneously undermined their "social critique." In this new edition, the two authors reflect on the reception of the book and the debates it has stimulated.
This book offers a major new account of modern capitalism and of the ways in which value and wealth are created today. Boltanski and Esquerre argue that capitalism in the West has recently undergone a fundamental transformation characterized by de-industrialization, on the one hand, and, on the other, by the increased exploitation of certain resources that, while not entirely new, have taken on unprecedented importance. It is this new form of exploitation that has given rise to what they call the ‘enrichment economy’. The enrichment economy is based less on the production of new objects and more on the enrichment of things and places that already exist. It has grown out of a combination of many different activities and phenomena, all of which involve, in their varying ways, the exploitation of the past. The enrichment economy draws upon the trade in things that are intended above all for the wealthy, thus providing a supplementary source of enrichment for the wealthy people who deal in these things and exacerbating income inequality. As opportunities to profit from the exploitation of industrial labour began to diminish, capitalism shifted its focus to expand the range of things that could be exploited. This gave rise to a plurality of different forms for making things valuable – valuing objects in terms of their properties is only one such form. The form that plays a central role in the enrichment economy is what the authors call the ‘collection form’, which values objects based on the gap they fill in a collection. This valuation process relies on the creation of narratives which enrich commodities. This wide-ranging and highly original work makes a major contribution to our understanding of contemporary societies and of how capitalism is changing today. It will be of great value to students and scholars in sociology, political economy and cultural studies, as well as to anyone interested in the social and economic transformations shaping our world.
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