Valuation of Intangible Assets by Using of Artificial Neural Network

It is very important for investors and creditors to understand the critical factors affecting a firm’s value before making decisions about investments and loans. Since the knowledge- based economy has evolved، the method for creating firm value has transferred from traditional physical assets to intangible knowledge. Therefore، valuation of intangible assets will become a widespread topic of interest in the future of the economy. This paper is aimed، using the artificial neural networks، to identify the critical factors affecting intangible assets value in firms listed in Tehran Stock Exchange. The results show the importance of firm’s attributes، corporate governance، ownership structure and intangible capital in determining the value of intangible assets، respectively.