# kaal:claim:4033886-019

**Claim.** The adjusted net asset approach revalues balance sheet items toward current fair value but still fails to capture intangible assets, because intangibles are not represented on the balance sheet.

**Type.** failure  **Support.** argued

**Holds when.**

- asset approach valuations relying on book values

**Source quote.**

> However, the approach still fails to take into consider any intangible assets because they are not represented on the balance sheet.68

**From.** Wulf A. Kaal, Samuel Evans, Hayley Howe, *Digital Asset Valuation* (2022), III.1 Asset Approach, page 18

**Cite as.** Wulf A. Kaal, Samuel Evans, Hayley Howe, Digital Asset Valuation (2022). SSRN: https://ssrn.com/abstract=4033886

**Verify.** sha256 of source PDF `52ba05b1292b1be4bfaf1ee5cf56b14fea9c196d870603e794d7ee316df129bd` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20et%20al.%20-%202022%20-%20Digital%20Asset%20Valuation.pdf

**Failure mode.** intangibles omitted from asset approach  (family: valuation-and-pricing-failure)

**Topics.** economics, research-methods

**Keywords.** asset-approach, intangible-assets, book-value, valuation-methods

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.