Human capital disclosure and market capitalization

The voluntary disclosure of the intellectual capital occupies an increasingly important place. Thus, it is important to analyze the structure of the information offered on the intellectual capital to understand its management. The author wants to reveal the growing importance of the human capital in increasing the company’s wealth and the impact of the voluntary disclosure on market value. These objectives are completed by the use of quantitative and qualitative methodologies. The results show that the investors have exploited the information that reflects the capacity of knowledge and the experience of the management team to generate future profits.