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Abstract This study aims to investigate the existence of an association between the level of intangibility and the market value of public companies with shares traded on the Brasil, Bolsa, Balcão (B3) to fill a gap in the literature regarding the impacts of investments in intangible assets on the market value of Brazilian companies. The sample comprises 158 non-financial publicly held companies listed on B3, with data available from 2010 to 2018. The collection was conducted using the Thomson Reuters Eikon database. The preliminary results show that the investment level in companies' intangible assets has a positive and statistically significant relationship with the market value. Thus, investment in intangible assets plays a specially prominent role among the company's specific performance factors and acts as drivers for a competitive advantage. In light of the disclosure theory, it appears that the fact that companies achieve greater appreciation in the stock market by increasing the level of investments made in intangible assets reports to an association-based disclosure since the effects of disclosure generate an aggregate change in investors' shares, changing the behavior of asset prices and trading volume. Furthermore, the results indicate considerable implications for companies, managers, shareholders, and potential investors. It can be inferred that benefits will flow from this relationship to the extent that the positive influence of the investment level in intangible assets on the company's value is understood. Author Biographies Hellen Bomfim Gomes, Federal University of Rio Grande do Norte Federal University of Rio Grande do Norte. Address: University Campus, NEPSA II, Room D9 | Lagoa Nova | 59078-970 | Natal/RN | Brazil. Tadeu Junior de Castro Gonçalves, Federal University of Rio Grande do Norte Federal University of Rio Grande do Norte. Address: University Campus, NEPSA II, Room D9 | Lagoa Nova | 59078-970 | Natal/RN | Brazil. Adilson de Lima Tavares, Federal University of Rio Grande do Norte Federal University of Rio Grande do Norte. Address: University Campus, CCSA, Room 6 | Lagoa Nova | 59078-970 | Natal/RN | Brazil. References Akgun, A. I., Samiloglu, F., & Oztop, A. O. (2018). The Impact of Profitability on Market Value Added: Evidence from Turkish Informatics and Technology Firms. International Journal of Finance and Economics Issues, 8(4), 105-112.

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