Wartość, której nie ma w bilansie - wewnętrznie generowana wartość firmy

Abstract

In the contemporary theory of organization management the main goal of enterprise is its value maximization. Value however has many aspects, although in the finance sphere we should accept the market value as the least controversial in this context. In practice market value (or at least its estimations) differs from book value. This results from principles of traditional accounting formulated in the industry age. Companies nowadays operate in the information age, in the Intellectual Capital Age. It makes us look at companies' resources in a very different way: in the way that would allow us estimate the value of intangible resources. In this article I try to explain the nature of internally generated goodwill - the gap between company's book value and market value. I specify main factors creating goodwill and I indicate examples of metrics, indices and ration allowing their evaluation