The “F Words”: Why Surveying Businesses About Intangibles is so Hard

Author:

Martin Josh1

Affiliation:

1. King's College London, Bank of England and Economic Statistics Centre of Excellence (ESCoE)

Abstract

Understanding of the value and economic contribution of intangible assets is hampered by measurement challenges, which stem from the characteristics of intangibles and weaknesses in survey design. We characterize these challenges with four “F words”—forgotten, fuzzy, framing, and frequency. We establish these characteristics theoretically, with reference to the survey design literature. We then provide a summary of a range of official business surveys that capture data on intangible assets in the UK. Using these sources, we test the (in)consistency and quality of data on intangibles collected through business surveys in the UK, using a range of data sources and microdata linkage. We draw on this research to propose modifications to surveys on intangible investment that might yield superior data in future.

Publisher

Wiley

Reference18 articles.

1. Ardanaz‐Badia A. Martin J. Morgan M. &Schneebacher J.(2022).Channels of managerial capital accumulation – A framework and new Evidence from UK microdata.ESCoE discussion paper (DP 2022‐15). Available:https://www.escoe.ac.uk/publications/channels‐of‐managerial‐capital‐accumulation‐a‐framework‐and‐new‐evidence‐from‐uk‐microdata/

2. Awano G. Franklin M. Haskel J. &Kastrinaki Z.(2010).Investing in innovation: Findings from the UK Investment in Intangible Asset Survey.NESTA innovation index working paper. NESTA Available:https://www.nesta.org.uk/report/investing‐in‐innovation/

3. Measuring Investment in Intangible Assets

4. Measuring Capital and Technology

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