Olga Hasprová

Faculty of Economics, Technical University of Liberec,

Liberec, Czech Republic

olga.hasprova@tul.cz

Intangible assets disclosed by public universities in Czech Republic

Zdeněk Brabec

Faculty of Economics, Technical University of Liberec,

Liberec, Czech Republic

zdenek.brabec@tul.cz

Jiří Rozkovec

Faculty of Economics, Technical University of Liberec,

Liberec, Czech Republic

jiri.rozkovec@tul.cz

Abstract. The process of scientific outcomes’ evaluation used for the purposes of financing research institutions in Czech Republic is quite complicated and often unpredictable. The conditions under which scientific outcomes are evaluated often change ex post, thus causing significant problems to researchers. Therefore, the aim of this article is to propose a new methodology for evaluation of scientific outcomes in Czech Republic. The research compares two different methods of scientific outcomes’ assessment applied by Czech public universities – the methodology of the Section for Science, Research and Innovation (SSRI) of the Government of Czech Republic and the requirements of Czech accounting legislation. More specifically, the number of scientific outcomes evaluated according to the SSRI is compared with the amount of intangible assets disclosed in their financial statements for the years 2008-2015. For this purpose, the multiple regression analysis is used. The results of this research confirm that the methodology used by the SSRI may, under certain conditions, be replaced by the amount of intangible assets disclosed according to the requirements of Czech accounting legislation. Generally speaking, despite having some weaknesses, accounting requirements seem to provide more stable results when evaluating scientific outcomes than the methodology used by the SSRI.

Received: July, 2017

1st Revision: October, 2017

Accepted: January, 2018

DOI: 10.14254/2071-8330.2018/11-1/5

JEL Classification: I23, M41

Keywords: financial statements, intangible assets, intellectual property, public university, research and development