You can find a paper in which we come to demonstrate the beneficial effect of intangibles in companies. There is an acceleration in the recovery after crisis.
In the following link https://authors.elsevier.com/a/1Vm9u~fX5-j-9, you can access to the paper. It will be available for 50 days.
I hope that you enjoy. Any comments will be welcome.
The abstract of the paper is:
This study explores the recovery in the Market Value Added (MVA) of European companies after the recent global economic crisis in 2008–2009. It introduces empirical evidence that intangible-intensive strategy in human and relational capital reinforces speed of the after-crisis correction for companies. Based on a panel dataset of more than 1600 listed corporations this research aims to discover drivers of Market Value Added trends in 2011–2013. The established results contribute to the understanding of the advantages that companies can exploit for the recovery after systematic shocks of markets. Our study demonstrates that intangible-intensive strategy not always enabled faster recovery speed. Meanwhile, it provided year-to-year acceleration of MVA growth after crisis.