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Asset specificity, research on specific assets in Iran and its defining characteristics with the approach of grounded theory

    Authors

    1 Assistant Prof., Department of Accounting and Finance, Faculty of Management and Accounting, Farabi Campus of Tehran University, Qom, Iran,

    2 Ph.D. Candidate, Department of Accounting and finance, Faculty of Management and Accounting, Farabi Campus of Tehran University, Qom, Iran

,

Document Type : Research Paper

Abstract

Purpose: Considering the impact of specific assets on the value of the firm, vertical integration and financing methods, the purpose of this study is to investigate the concept, importance and types of specific assets in Iran and their defining indicators.
Methods: In this research, qualitative research method, including qualitative content analysis with explicit and inductive approach and grounded theory with systematic approach of Strauss and Corbin (1998) has been used. In the content analysis section, 83 cases from previous researches between 1985 and 2021 were selected and analyzed by theoretical sampling method. In the next section, after conducting 14 interviews by theoretical sampling method and using the snowball technique, theoretical saturation was obtained.
Results: In this study, specific assets are examined from four dimensions of definition, concept, importance and characteristics, as well as 11 types of specific assets such as Site specificity, Temporal Asset Specificity, Dedicated assets specificity, Brand Capital Specificity, Physical asset specificity, Human Asset specificity, technological assets, organizational capital, intellectual property assets, market assets and social capital, as well as its indicators and determinants were identified and examined.
Conclusion: From the point of view of Iranian experts, specific assets are a key asset for the strategic management of the firm and in all basic decisions of the firm in the field of financing, valuation of the firm and its shares, vertical integration and bankruptcy risk should be considered and therefore investors and other stakeholders should have Considered the assets and their significant consequences for the firm and its value.
Contribution: In this study, for the first time and from the perspective of accounting, the issue of asset specificity, related concepts and their importance in Iranian firms, types of specific assets in Iran and their determinants were identified and examined, and specific assets as a strategic issue and noteworthy was introduced to the Iranian accounting community.

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References
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Financial Accounting Knowledge
Volume 9, Issue 3 - Serial Number 34
October 2022
Pages 69-100
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