The Impact of Informational Content of Intangible Assets on the Firm Performance: Evidence from MENA Countries Stock Exchanges

This paper attempts to investigate the impact of informational content of intangible assets on the firm performance. Informational content of intangible assets has been measured by “Current Site Rank” (RAN), “No. of Engagements on the Site” (ENG), “No. of Site Visitors” (VIS), “Change in No. of Site Visitors” (CIV), “Bounce Rate” (BOU) and “Change in Bounce Rate” (CIB), while firm performance has been measured by "Price to Tangibles Ratio" (PTR) and “Return on Assets” (ROA). This has been applied on companies listed in stock exchanges of 4 MENA countries (Egypt, KSA, Tunisia and UAE), on daily basis during the 4th quarter 2019 and 1st quarter 2020. Results indicate that "Price to Tangibles Ratio” seem to be affected by each of “No. of Site Visitors”, “Change in No. of Site Visitors”, and “Change in Bounce Rate”. Besides, “Return on Assets” (ROA) may have been affected by each of “Current Site Rank”, “No. of Engagements on the Site” and “Bounce Rate”.