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1

Jansen van Vuuren, David. "Valuing specialised property: cost vs profits method uncertainty." Journal of Property Investment & Finance 34, no. 6 (2016): 655–63. http://dx.doi.org/10.1108/jpif-06-2016-0048.

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Purpose The purpose of this paper is to compare the value outcomes of the cost approach to the DCF profits method when valuing specialised property under different scenarios as a test for choice of method or model uncertainty; and to quantify valuation uncertainty under each scenario and to argue for an increasing adoption of the profits method of valuation. Design/methodology/approach A qualitative case study approach was used to analyse four physical valuations performed in practice under four specific scenarios, namely, a business-as-usual scenario, an underperforming business scenario, an expanding capacity scenario and a combined business-as-usual funding a start-up joint venture scenario. Findings The cost approach relative to the DCF profits approach consistently under-values specialised property under business-as-usual and business expanding scenarios while it over-values in instances of underperforming business scenario. Practical implications Financial institutions that predominantly uses or accepts the cost approach for valuing specialised property should consider adopting the DCF profits approach as the default approach when valuing for mortgage lending purposes. Business owners of specialised properties should contract practitioners knowledgeable and skilled in the application of the DCF profits method. Originality/value This paper quantifies choice of method or model uncertainty of four different scenarios of specialised properties where both the cost approach and DCF profits methods of valuation were employed. It suggests the adoption of the DCF profits method as the default method of valuation for specialised property.
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2

Stevcevska Srbinoska, Dusica, Angela Ljamova, and Snezhana Hristova. "Factors Affecting the Adoption of Inventory Cost Flow Method by the Macedonian Companies: FIFO, Weighted Average, and Specific Identification Method." Studia Universitatis Babeș-Bolyai Negotia 65, no. 3 (2020): 31–76. http://dx.doi.org/10.24193/subbnegotia.2020.3.02.

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"Inventory valuation is a major topic in the accounting practice. Inventory valuation is reflected in financial reporting, i.e. the balance sheet and the profit and loss account and the choice of the right inventory cost flow method is one of the basic decisions all companies engaged in manufacturing and distribution of goods need to make. Preferably, the chosen method should result in the best income and financial result measurement. However, no method is acknowledged to always be the best for accomplishing these objectives. The main aim of this paper is to investigate the factors affecting the adoption of inventory cost flow method by Macedonian companies. The data was collected by using a questionnaire randomly distributed via email to Macedonian retailing and manufacturing companies and later examined through statistical methods. Analyzing a pool of 56 respondents, we find that the subject of inventory valuation is important as most of the participants consider that they understand the existing inventory valuation methods. The choice of inventory valuation method is mostly affected by the level of education of the manager, understanding of the method and simplicity of the separate inventory valuation methods. Key words: Inventory, valuation, methods, FIFO, weighted average, specific identification; JEL classification: M4, M1 "
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3

Jansen van Vuuren, David. "Valuing specialised property using the DCF profits method." Journal of Property Investment & Finance 34, no. 6 (2016): 641–54. http://dx.doi.org/10.1108/jpif-06-2016-0047.

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Purpose The purpose of this paper is twofold: primary, to argue that the profits method, specifically a discounted cash flow (DCF)-based profits method, should be the preferred method of valuation when valuing specialised property. Secondary, to make technical recommendations in the application of the method. Design/methodology/approach Literature was reviewed on the theory of the profits method as well as physical valuations performed in practice. Improvements for the profits method are suggested from the review of six valuations conducted in South Africa in the specialised property sectors. A qualitative approach is followed in the research as broad principles are extracted from the valuation reports as implications and improvements for the profits method. Findings The profits method is more flexible and sophisticated than the cost approach in taking into account systematic and unsystematic risk. The profits method is more accurate than the cost approach in delivering a true reflection of the value of specialised property for any purpose but specifically for mortgage lending purposes and reduces the credit exposure risk of financial institutions. It also decreases pricing inefficiencies to be exploited by buyers and sellers. Practical implications Three improvements to the profits method are suggested. First, revenue could be forecasted based on a probability-weighted approach. Second, a modified capitalisation rate is suggested to the capitalisation rate formula in the calculation of G. Third, a market rental aggregation anchoring and judgement-based approach is suggested as rationale for determining the hypothetical rental split. Originality/value There seems to be a general lack in literature on the profits method of valuation and its application to specialised properties, specifically a DCF-based approach, with this paper being a technical contribution to the body of knowledge on this topic.
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4

HIDANO, Noboru. "Book Review: Kenji, Takeuchi, Contingent Valuation Method and Travel Cost Method." Studies in Regional Science 29, no. 1 (1998): 212–13. http://dx.doi.org/10.2457/srs.29.212.

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5

Anih, Paul C., and Sunday Usenemana. "Determinants of Variance in Cost Method of Valuation in Uyo, Nigeria." Real Estate Management and Valuation 29, no. 3 (2021): 77–86. http://dx.doi.org/10.2478/remav-2021-0023.

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Abstract Variance in the cost method of valuation as caused by certain variables is objectionable in the profession of estate surveying and valuation at both local and international best practices. The study aimed at determining the variables for the variance in the application of the cost method of valuation for estate surveying and valuation practice in Uyo. The sample of the population used for the research comprised 110 estate surveyors in Uyo. The survey method was used for the research. The sampling technique was purposive sampling. The data were analyzed using standard deviation and analysis of variance (ANOVA). The findings showed that depreciation rates of σ2 =113.974 and σ = 10.676 were over 60% of the total variance of values among estate surveyors and valuers. The construction rates and errors in manual measurements and computation of areas, volumes and dimensions showed σ2 = 6.004 and σ = 2.4503, which accounted for 15% of total variance. The study recommends the use of a regional-based scientific approach to measure depreciation for consistency and high precision. Automated techniques, such as GPS, AutoCAD, Google Earth pro, are recommended to minimize variance in measurements.
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6

Kossecki, Pavel. "Comparison of Telecommunication Markets in Europe Using Multivariate Statistical Analysis." Journal of information and organizational sciences 44, no. 2 (2020): 331–44. http://dx.doi.org/10.31341/jios.44.2.8.

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Common problem in valuation of telecommunication companies is finding comparable data and markets for valuation. The aim of this work was to identify comparable markets for the telecommunication market in Europe. A method for comparison of the markets based on the Multivariate Statistical Analysis was presented. The study covers twenty-two European countries. Using taxonomic measures, these countries were divided into five groups, taking into account the following variables: average monthly service cost of the fixed Internet, average cost of the mobile usage, and average cost of the fixed telephony usage. Within individual groups, the costs of telecommunications services are less diverse than in the entire population; their members can be considered comparable markets. The same method can be used for comparing markets in cases of enterprise valuations in the telecommunication sector, and also in analysis of their level of development.
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7

Budi Setyawan, Titan, Achmad Fahrudin, and Handoko Adi Susanto. "Valuasi Ekonomi Wisata Memancing di Perairan Laut Sekitar Tanjung Kait, Tangerang, Banten: Pendekatan Contingent Valuation Method dan Travel Cost Method." Journal of Regional and Rural Development Planning 4, no. 3 (2020): 172–85. http://dx.doi.org/10.29244/jp2wd.2020.4.3.172-185.

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Economic Valuation of Recreational Fishing Tourism in Tanjung Kait Coastal Water, Tangerang, Banten: Contingent Valuation Method and Travel Cost Method Approach
 Tanjung Kait, located in the north coast of Tangerang, has undeveloped tourism potential of recreational fishing on a bamboo platform in the middle of the sea. The purpose of this research was to determine the economic value of recreational fishing tourism in Tanjung Kait and to identify the influencing factors of the tourism demand in Tanjung Kait. Methods used in this research were Travel Cost Method (TCM) and Contingent Valuation Method (CVM). Linear regression was used to determine influencing factors of tourism demand. Data were obtained by interviewing tourists as respondents, with the help of questionnaires. The result of TCM showed that factors that significantly contributed the number of visits were education and duration of visit. Potential economic value of tourism activity in Tanjung Kait based on TCM reached IDR 3,272,524,846 annually. The result of CVM showed that the factor that significantly affected willingness-to-pay was education. Potential economic value of tourism activity in Tanjung Kait based on CVM reached IDR 2,254,934,539 annually.
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8

Mayer, Adam. "Contingency, cost, and a fracking ban: Extending sociological research with the contingent valuation method." Methodological Innovations 11, no. 2 (2018): 205979911879074. http://dx.doi.org/10.1177/2059799118790741.

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Documenting patterns of environmental concerns has been a core effort of environmental sociology since the founding of the sub-discipline. Environmental economists, on the other hand, are pre-occupied with the valuation of non-market goods like ecosystems services and environmental policy. In this article, we argue that sociologists should cautiously embrace non-market valuation methods, particularly the contingent valuation method. We provide a motivating empirical example by considering the case of support for a fracking ban among residents of Colorado, USA. Our analysis suggests that Colorado residents’ support for a fracking ban is somewhat contingent upon the costs created by said ban. We then conclude by discussing how sociologists might extend research on non-market valuation with sociological insights.
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Bekkerman, Anton, Gary W. Brester, and Tyrel J. McDonald. "A Semiparametric Approach to Analyzing Differentiated Agricultural Products." Journal of Agricultural and Applied Economics 45, no. 1 (2013): 79–94. http://dx.doi.org/10.1017/s1074070800004594.

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When consumers have heterogeneous perceptions about product quality, traditional parametric methods may not provide accurate marginal valuation estimates of a product's characteristics. A quantile regression framework can be used to estimate valuations of product characteristics when quality perceptions are not homogeneous. Semiparametric quantile regressions provide identification and quantification of heterogeneous marginal valuation effects across a conditional price distribution. Using purchase price data from a bull auction, we show that there are nonconstant marginal valuations of bull carcass and growth traits. Improved understanding of product characteristic valuations across differentiated market segments can help producers develop more cost-effective management strategies.
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Paliuliene, Lina. "The Influence Of Long-Term Tangıble Asset’s Valuatıon On Fınancıal Indıcators: The Attıtude Of Shareholders And Credıtors." European Scientific Journal, ESJ 12, no. 4 (2016): 367. http://dx.doi.org/10.19044/esj.2016.v12n4p367.

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In the article the long-term tangible asset’s valuation methods by the historical cost and the fair value are generalized, indicators that are analyzed by shareholders and creditors when assessing the company's financial condition are identified. For the research eight Lithuanian companies which apply different long-term tangible asset’s valuation methods were selected from two industries. The influence of long-term tangible asset’s valuation was explored by five relative indicators. It was determined that valuation method is associated with long-term tangible asset’s part in the total company's asset. When long-term tangible asset’s part in the total company’s asset constitutes less than 50 percent, the asset’s valuation method has no influence on the analyzed indicators. When long-term tangible asset’s part in the total asset constitutes more than 50 percent, the asset’s valuation method affects solvency and investment indicators. Long-term tangible asset’s valuation method does not affect profitability indicators, independent of long-term tangible asset’s part in the total asset.
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Graben, Sari. "Rationalizing Risks to Cultural Loss in Resource Development." Canadian Journal of Law & Jurisprudence 26, no. 1 (2013): 83–114. http://dx.doi.org/10.1017/s0841820900005968.

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I argue in this article for the use of a dialogical approach to cost-benefit analysis, which is identified here as a process that rationalizes cross-cultural judging. Weighing in on the Kahan-Sunstein debate about the effect of culture on risk perception, I use economic valuations of Indigenous sacred sites to demonstrate how cost-benefit analysis can misrepresent loss. I identify the way cost-benefit analysis operationalizes preferences that have little relevance for perceptions of substitutability, property, or harm related to sacred sites held by some Indigenous peoples. In doing so, I problematize the use of cost-benefit analysis as a method for ascertaining loss and contextualize risk in the social context in which it is perceived. In order to further procedural justice, I recommend valuation of loss that allows for epistemological disparities in determining rationality. This dialogical approach expects to maximize the accuracy of cost benefit analysis so as to create greater accountability for loss valuation and destabilize formulations of culturally determined preferences as bounded but corrected by expert knowledge.
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Sulistyawati, Ardiani Ika, Aprih Santoso, Sri Yuni Widowati, and Siti Farikah. "INVENTORY ASSESSMENT METHODS IN TRADING AND MANUFACTURING COMPANIES: AN EMPIRICAL STUDY." ACCRUALS (Accounting Research Journal of Sutaatmadja) 3, no. 2 (2019): 172–88. http://dx.doi.org/10.35310/accruals.v3i2.47.

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The purpose of the study was to determine the effect of the variability of inventory, company size, intensity inventory, accounting earnings variability, variability in the cost of goods sold and the ownership structure of the inventory valuation method. The valuation method used is the First In First Out (FIFO) and average method. The object of this study is a trading and manufacturing company listed on the Stock Exchange from 2009-2014. There are 50 companies that meet the criteria, 10 companies using the FIFO method and 40 companies use the average method. Statistical analysis tools used in this study is a logistic regression with a significance level of 5%. 
 These results indicate the variability of inventory and company size significantly influence the selection method of inventory valuation. While the intensity of inventory, accounting earnings variability, variability in the cost of goods sold and the ownership structure does not significantly influence the selection method of inventory valuation.
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13

Allee, Kristian D., Devon Erickson, Adam M. Esplin, and Teri Lombardi Yohn. "The Characteristics, Valuation Methods, and Information Use of Valuation Specialists." Accounting Horizons 34, no. 3 (2020): 23–38. http://dx.doi.org/10.2308/horizons-19-057.

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SYNOPSIS We provide insights into the inputs and valuation models used by valuation specialists. We survey 172 valuation specialists and conduct several follow-up interviews covering various topics, including the valuation inputs, models, and industry information that they use, as well as how they estimate long-term growth and the cost of capital. We find that valuation specialists rely on their professional judgment to select a valuation model but prefer the discounted cash flow (DCF) model. They primarily rely on the firm's historical performance when forecasting the financial statements, but communication with management is particularly relevant for forecasting future earnings or cash flows. When estimating the cost of capital, they most commonly use the risk-free rate with subjective adjustments. The results of our study provide insights on the information use of valuation specialists that are relevant to other valuation specialists, managers, academic researchers, and regulators. JEL classification: M41; G12; G17; G32.
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14

Boudreaux, Denis O., Praveen Das, Nancy Rumore, and SPUma Rao. "A Better Way To Measure The Cost Of Equity Capital For Small Closely Held Firms." Journal of Business & Economics Research (JBER) 10, no. 2 (2012): 97. http://dx.doi.org/10.19030/jber.v10i2.6789.

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A companys cost of capital is the average rate it pays for the use of its capital funds. Estimating the cost of equity capital for a publicly traded firm is much simpler than estimating the same for a small privately held firm. For privately owned firms there is the lack of market based financial information. In business damage cases, valuation of the firm is often a prime interest. A necessary variable in the valuation process is the estimate of the firms cost of capital. Part of the cost of capital is the equity holders or owners required rate of return. The purpose of this paper is to explore the theoretical structure that underlies the valuation process for business damage cases that involve privately owned businesses. Specifically, cost of equity capital estimate methods which appear in the current literature are examined, and a theoretically correct and simple method to measure cost of equity capital for closely held companies is offered.
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15

Korsgaard, Louise, and Jesper S. Schou. "Economic valuation of aquatic ecosystem services in developing countries." Water Policy 12, no. 1 (2009): 20–31. http://dx.doi.org/10.2166/wp.2009.124.

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An important challenge of integrated water resources management (IWRM) is to balance water allocation between different users. While economically and/or politically powerful users have well developed methods for quantifying and justifying their water needs, this is not the case for ecosystems—the silent water user. A promising way of placing aquatic ecosystems on the water agenda is by economic valuation of services sustained by ecosystems. In developing countries, the livelihoods of rural people often depend directly on the provision of aquatic ecosystem services. In such situations, economic valuation of ecosystem services becomes particularly challenging. This paper reviews recent literature on economic valuation of aquatic ecosystem services in developing countries. “Market price” is the most widespread method used for valuating marketed ecosystem services in developing countries. “Cost based” and “revealed preference” methods are frequently used when ecosystem services are non-marketed. A review of 27 existing valuation studies reveals a considerable range of estimated total economic value of aquatic ecosystem services in developing countries, that is from US$30 to 3,000/ha/year. The paper concludes that economic valuation is vital for bringing ecosystems to decision-making agendas in developing countries and that great effort must be made to bridge the gap between scientists and decision makers.
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Saptutyningsih, Endah, and Rini Selviana. "Valuing Ecotourism of a Recreational Site in Ciamis District of West Java, Indonesia." JEJAK 10, no. 1 (2017): 172–88. http://dx.doi.org/10.15294/jejak.v10i1.9134.

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Ecotourism, as an alternative tourism, involves visiting natural areas in order to learn, to study or to carry out activities environmentally friendly, that is a tourism based on the nature experience which enables the economic and social development of local communities. Ecotourism encourages rural economics and provides benefits to income and employment generation. It is considered as an alternative for enhancing rural lifestyle and for leading positive changes in the distribution of income. One of the area which has ecotourism site in Indonesia is Karangkamulyan site, Ciamis District of West Java. There is a tourist attraction that not only offers natural beauty, history and cool atmosphere, it also serves as a place of education and research on the history in the field of archeology. This attraction should receive special attention from the local government so that the tourists and local people also get the benefits. Ecotourism can be classified as possessing public goods-type characteristics, and as such, welfare benefit estimates must utilize non-market valuation techniques. This study employs the travel cost method and contingent valuation method. Travel cost and contingent valuation methods are applied to the problem of estimating the potential consumer surplus available to tourists from ecotourism in Ciamis. The results are compared with contingent valuation analysis of willingness-to-pay of tourists in their current trip to ecotourism sites of Ciamis. The result of travel cost method indicates that tourists average travel cost is estimated at no more than one hundred thousand rupiahs. The contingent valuation method concludes that the tourists average willingness to pay in their trip to ecotourism sites of Ciamis is are about IDR 6,800 in average.
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KODAMA, Yoshifumi, and Hironobu TAKESHITA. "The Study of Valuation Method to Assess Public Projects: Applying Hypothetical Travel Cost Method." JOURNAL OF RURAL PLANNING ASSOCIATION 22, no. 4 (2004): 269–78. http://dx.doi.org/10.2750/arp.22.4_269.

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18

Gong, Qingwu, and Si Tan. "Risk Rating Method Based on the Severity Probability Risk Value and Reserved Risk Maintenance Resource Cost of the Node Disconnection of the Power System." Processes 7, no. 5 (2019): 307. http://dx.doi.org/10.3390/pr7050307.

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In order to solve the problem of traditional risk rating methods without considering the cost of risk maintenance resources and ignoring the low risk of “High Loss Severity (HLS) with low probability” and the low risk of “High Failure Probability (HFP) with low loss severity”, a node disconnection risk rating method (NDRRM) is proposed. This method considers the severity probability risk valuation (SPRV) and reserve risk maintenance resource cost (RRMRC). The risk rating method based on SPRV developed from the traditional risk valuation method can simultaneously identify the nodes with the highest severity values, the nodes with the highest probability of failure, and the nodes with the largest risk valuation. On the basis of the above model, we consider the cost constraints of the reserve risk maintenance resource and put forward a risk rating method based on SPRV and RRMRC. The risk rating results of this model are suitable for guiding risk maintenance in practice. Simulations are carried out on the modified IEEE RTS-79 system to illustrate the effectiveness of the proposed models, and the simulation results show that the model is reasonable and effective.
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Aihie, Vincent Uwaifiokun, and Matthew Ikuabe. "Evaluation of Cost Estimation Techniques in Drc Valuation: A Comparative Assessment of Valuers and Quantity Surveyors in Lagos State." Baltic Journal of Real Estate Economics and Construction Management 6, no. 1 (2018): 175–92. http://dx.doi.org/10.2478/bjreecm-2018-0014.

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Abstract The aim of the research is to comparatively assess the knowledge and competency levels among valuers and quantity surveyors of cost estimation techniques used in DRC valuation. The study investigates the need for estate surveyors and valuers in Nigeria to improve their current knowledge of cost estimation techniques when valuing non-rent yielding and specialized properties using the DRC method of valuation. More importantly, it evaluates the need for valuers to engage in the services of quantity surveyors in order to ensure that accurate cost estimates are provided for use in the valuation process. The research methodology adopted in actualizing the aim of the present study made use of primary and secondary sources of data, which included texts, published research work and semi-structured questionnaire. Identical questionnaire was distributed to both valuers and quantity surveyors in Lagos and their responses were measured using statistical tables and simple percentages. A proficiency scale of the National Institute of Health was adopted to test the level of competence of cost estimation techniques amongst valuers and quantity surveyors and their responses were ranked. Furthermore, a two-sample t-test was used to compare the means of random samples drawn from the responses of these two populations. The findings showed that there was a lack of awareness more on the part of valuers than quantity surveyors when it came to the knowledge and use of current cost estimating methods when valuing properties using the DRC method of valuation. These findings also gave credence to the fact that the services of quantity surveyors most times were not commissioned when these cost estimates were to be determined for valuation, hence leading to properties being undervalued or overvalued. In a nutshell, the recommendations postulated dwelt on improving the cost estimating knowledge of estate surveyors and valuers through seminars, symposiums and workshops organised by NIESV and NIQS, awareness of the need for valuers to work with quantity surveyors to perfect valuation briefs involving the use of the DRC method and slight changes made to the curriculum of the study course “Estate Management” in tertiary institutions so as to accommodate taking courses in quantity surveying.
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Gružauskas, Valentas, Andrius Kriščiūnas, Dalia Čalnerytė, and Valentinas Navickas. "Analytical Method for Correction Coefficient Determination for Applying Comparative Method for Real Estate Valuation." Real Estate Management and Valuation 28, no. 2 (2020): 52–62. http://dx.doi.org/10.1515/remav-2020-0015.

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AbstractReal estate valuation uses 3 main approaches: income, cost and comparative. When applying the comparative method, correction coefficients based on similar real estate transactions are determined. In practice, the coefficients and similar real estate objects are usually determined by using qualitative approach based on the valuators’ experience. The paper provides an analytical method for the determination of correction coefficient, which limits subjectivity when using the comparative method for valuation. The provided analytical approach also integrates macroeconomic indicators in the calculation process. It also addresses issues when available historical real estate transaction data is limited. A machine learning approach was applied to determine the average price of real estate in the region, with the possibility of using this information to obtain correction coefficients where historical data was unavailable. Alternative research usually focuses on final price estimation of the selected real estate object; however, the valuation standard of Tegova released in 2018 does not allow for applying analytically based approaches for individual real estate object evaluation; these approaches can be used only as a supportive tool for valuators.
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Simanjuntak, Erni Br, and Gede Harja Wasistha. "VALUATION OF AERONAUTICS AND SPACE TECHNOLOGY AT LAPAN." AFEBI Economic and Finance Review 4, no. 01 (2019): 1. http://dx.doi.org/10.47312/aefr.v4i01.212.

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<p><em>New challenges arises for government institutions engaged in research and engineering to continuously innovate and develop technologies that have competitive advantages and provide income for the country through royalty from licensed technology. This research carried out to valuate the aeronautics and space technology. The objective of the study is to develop appropriate intellectual property valuation methods. This research is a case study utilizing sequential mix method which is the combination of quantitative and qualitative research. By using intellectual capital theory, this research-broaden the literatures on the technology valuation in the field of aeronautics and space. This study fills research gap on the existing technology valuation method that is still partially conducted by government research and development. </em></p><p><em>This study discusses the value of intangible assets and licenses from intellectual property that are calculated through three valuation approaches, such as cost-based approach, income-based approach, and market-based approach. The results of the study show that the most appropriate intellectual property valuation method are the cost-based approach and income-based approach.</em></p><p><strong><em>JEL Classification: </em></strong><em>O30, O31, O33</em><strong></strong></p><strong><em>Keywords</em></strong>: <em>Cost Based Approach,</em><em> Income Based Approach, Intellectual Property, Market Based Approach, Sequential Mix Method </em>
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Portney, Paul R. "The Contingent Valuation Debate: Why Economists Should Care." Journal of Economic Perspectives 8, no. 4 (1994): 3–17. http://dx.doi.org/10.1257/jep.8.4.3.

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The contingent valuation method, wherein sample surveys are used to elicit individuals’ willingness to pay for certain types of policies, is playing an important role in government decision-making. The most prominent applications are in the valuation of damages to natural resources from oil spills. But the contingent valuation method will be more important still if it is used to expand the range of impacts included in applied benefit-cost analyses. This paper explains the origins of the contingent valuation method and the route through which it came to be the center of both an academic and a legal debate.
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Lytvynenko, Volodymyr, and Kateryna Kamyns'ka. "IMPROVEMENT OF THE EVALUATION METHOD OF RESERVES IN ACCOUNTING." Economic Analysis, no. 27(3) (2017): 236–41. http://dx.doi.org/10.35774/econa2017.03.236.

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Introduction. The article deals with the main approaches to reserves valuation in accordance with the requirements of national accounting standards. The methods of stock assessment at different stages of their circulation are considered: on stage of admission, on balance sheet date and at the time of disposal. Purpose. The article aims to study the improvement of inventory assessment methodology at different stages of their circulation to ensure the accuracy of accounting information about the cost of stocks. The method (methodology). The study used the methods of theoretical and logical generalization, comparison method, method of analysis and synthesis, method of abstraction and modelling. Results. The article deals with the main approaches to inventory valuation in scientific literature and legal acts. Enterprises can independently choose the most appropriate methods of inventory valuation depending on the established accounting policies. The number of stock valuation methods, on the one hand, provides ample opportunity to reflect the real value of inventories, and on the other hand, it may lead to a reduction in the reliability of accounting data if the inventory method is wrongly chosen. The study found out that most methods of stock assessment are focused on the principle of historical cost and the correct calculation of financial results. It does not always take into account the need to reflect the real (fair) value of inventories, which may lead to a reduction in the reliability of inventory data and indicators of the property status report of the enterprise. Part of stocks has industry-specific features. Thus, agricultural products, unlike other types of inventory, at initial recognition can be assessed at fair value, reduced by expected costs to sell. It is proposed to extend to the assessment of other types of stocks.
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Dalaudiere, J., H. Rabier, G. Grguric, et al. "PND57 INFORMAL CARE COST IN NEUROLOGIC DISORDERS WITH THE CONTINGENT VALUATION METHOD." Value in Health 22 (November 2019): S747. http://dx.doi.org/10.1016/j.jval.2019.09.1827.

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Batubara, I. K., E. Yulinda, and T. Warningsih. "Economic Valuation of Tourism Pasumpahan Island West Sumatera with Travel Cost Method." IOP Conference Series: Earth and Environmental Science 430 (January 20, 2020): 012024. http://dx.doi.org/10.1088/1755-1315/430/1/012024.

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Wibowo, Muhammad Teguh, Zainal Abidin, and Lina Marlina. "ECONOMIC VALUATION WITH TRAVEL COST METHOD (TCM) SLANIK WATERPARK SOUTH LAMPUNG DISTRICT." Volume 5 No. 1 March 2021 5, no. 1 (2021): 1–8. http://dx.doi.org/10.23969/jcbeem.v5i1.3359.

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This study aims to analyze: (1) the factors that affecting the number of tourist visits, (2) the economic value of the Slanik Waterpark in South Lampung District, (3) the visitor satisfaction with tourism cost attribute. This study uses survey method involving 70 respondents who came during the COVID 19 outbreak. The first objective uses multiple linear regression analysis, the second objective uses consumer surplus analysis, and the third uses the Customer Satisfaction Index (CSI) analysis. Data was collected in June until July 2020. The research shows that the factors that influence the number of tourist visits Slanik Waterpark are travel costs and days of visits, the economic value of the Slanik Waterpark tourist attraction is IDR 13,060,150,376 every year, the visitors are satisfied with the cost attributes incurred when traveled to Slanik Waterpark.
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Chintantya, Dea, and Maryono Maryono. "Comparing Value of Urban Green Space Using Contingent Valuation and Travel Cost Methods." E3S Web of Conferences 31 (2018): 07008. http://dx.doi.org/10.1051/e3sconf/20183107008.

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Green urban open space are an important element of the city. They gives multiple benefits for social life, human health, biodiversity, air quality, carbon sequestration, and water management. Travel Cost Method (TCM) and Contingent Valuation Method (CVM) are the most frequently used method in various studies that assess environmental good and services in monetary term for valuing urban green space. Both of those method are determined the value of urban green space through willingness to pay (WTP) for ecosystem benefit and collected data through direct interview and questionnaire. Findings of this study showed the weaknesses and strengths of both methods for valuing urban green space and provided factors influencing the probability of user’s willingness to pay in each method.
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Keca, Ljiljana. "Analysis of commercial cost-effectiveness of poplar plantations." Bulletin of the Faculty of Forestry, no. 91 (2005): 135–47. http://dx.doi.org/10.2298/gsf0591135k.

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The commercial cost-effectiveness of poplar cultivation and commercial cost-effectiveness of long-rotation (42-year) poplar plantation were analyzed. The aim of the research is, based on analysis of expenses and receipts during the period of 42 years and by applying the method of analysis of the project commercial cost-effectiveness, to show the justification of long rotations in poplar plantations. Modern methods of investment valuation were applied and consequently their practical application in forestry was confirmed.
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KUSUMA WARDHANI, I. GUSTI AYU KOMANG, I. NYOMAN WIDANA, and NI KETUT TARI TASTRAWATI. "PERHITUNGAN DANA PENSIUN DENGAN METODE PROJECTED UNIT CREDIT DAN INDIVIDUAL LEVEL PREMIUM." E-Jurnal Matematika 3, no. 2 (2014): 64. http://dx.doi.org/10.24843/mtk.2014.v03.i02.p067.

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The company which provides the pension program needs the actuarial valuation to estimate the fund amount required by the company to pay for pension funding. Actuarial method that used in this research are projected unit credit and invidual level premium method. Through this research be obtained the result of valuation pension benefits with career average salary assumption is lower than the other salary assumptions. On the other hand, the result of normal cost final value valuation using individual level premium method is smaller than projected unit credit method that suits for the participants of the pension funding program.
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Burada, Cristian Oliviu, and Traian Cristian Demetrescu. "Historical Real Estate Valuation by Cost Approach." Applied Mechanics and Materials 880 (March 2018): 371–76. http://dx.doi.org/10.4028/www.scientific.net/amm.880.371.

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Compared to modern buildings, historical real estate features features that give them a special status: the architectural style of the epoch, the old materials or the built-in building methods, the high rehabilitation costs or the legal restrictions on their intervention. Therefore, in evaluating a historical real estate property, evaluators need to undertake additional, sometimes atypical, steps compared to assessing a modern property. Assessing a historical real estate property by cost has particularities that distinguish it from the assessment of a modern building.
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Juwana, Iwan, and Muhammad Sirdar Albar. "The improvement of solidwaste management in Cibodas Botanical Garden through environmental economic valuation using the travel cost method." E3S Web of Conferences 76 (2019): 03001. http://dx.doi.org/10.1051/e3sconf/20197603001.

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Cibodas Botanical Garden (CBG) is believed to have high environmental value for its function as conservation area and beautiful scenery. However, prior to this research, there is lack of economic valuation to determine the total value of CBG, including its environment. The local government, on the other hand, needs such environmental economic valuation to execute better decisions related to the CBG. This study aims at providing the mostly-needed economic valuation through the application of Travel Cost Method. The Travel Cost Method (TCM) is a method to calculate the economic value of products or services that do not own market value. This method utilises total cost of consumers who travel to certain places, preferably tourist destinations. The cost spent by consumers are considered as their willingness to pay (WTP) for the visited destination(s). In this study, TCM is used by preparing questionnaires for Cibodas visitors, analysing the results of the questionnaires, calculating the total economic value (TEV) of Cibodas, determining the consumer surplus, and proposing environmental programs at CBG. At the end, it was calculated that the TEV of Cibodas Botanical Garden is IDR113,072,532,700 with average WTP of the visitors IDR202,484 per visitor and the consumer surplus of IDR32,344 per visitor. Also, this study reveals that solid waste management improvement at CBG can be funded by potential income from the consumer surplus.
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Jr, Phillip Neely, and Ray Muhammad. "Fair Value Accounting on the Housing Crisis." Business and Management Studies 2, no. 3 (2016): 1. http://dx.doi.org/10.11114/bms.v2i3.1755.

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The circumstances which led to the development of each of these methods of accounting will be examined to better understand the context in which each technique was to be incorporated and its effect. Analysis will be performed on whether the use of these accounting practices changed since their inception and if so, for what purpose. The researcher will discuss how and if these accounting procedures become instrumental in relation to the valuation of housing assets, particularly in America. As a result of the financial crisis, some experts have expressed the opinion that Fair Value Accounting as opposed to the historical cost approach exacerbated the housing crisis while others have developed opinions that Fair Value Accounting had no negative affect on the crisis and in fact allowed for greater transparency in disclosure. The finding will analyze the effect of Fair Value Accounting on the housing crisis and whether the historical cost valuation method would be more effective and less subject to risk in home asset valuation by bank holding companies. Research findings will determine which method is most effective and whether an alternate model of valuation would provide a more reliable accounting practice for the housing market.
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Blakemore, Frederick, and Allan Williams. "British Tourists' Valuation of a Turkish Beach Using Contingent Valuation and Travel Cost Methods." Journal of Coastal Research 246 (November 2008): 1469–80. http://dx.doi.org/10.2112/06-0813.1.

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Khairunnisa, Khairunnisa, Tridoyo Kusumastanto, and Achmad Fahrudin. "Penilaian Ekonomi Wisata Pesisir Kawasan Carocok Painan, Kabupaten Pesisir Selatan, Sumatera Barat." Jurnal Ekonomi dan Pembangunan Indonesia 18, no. 1 (2017): 1–21. http://dx.doi.org/10.21002/jepi.v18i1.672.

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Economic Assesment of Coastal Tourism in Carocok Painan, Pesisir Selatan Regency, West SumateraCarocok Painan is one of the potential areas for coastal tourism in Pesisir Selatan Regency. The area has beautiful beaches, coastal resources and historical sites that attract tourists. This study aims to estimate the supply and demand for coastal tourism in Carocok Painan. The supply conditions based on water quality analysis, suitability area, and carrying capacity show that the Carocok Painan is suitable for coastal tourism. The analysis of demand shows that the economic value of Carocok Painan for tourists using the travel cost method is Rp41,521,536,000 per year, while the economic value for residents using contingent valuation method is Rp347,756,632 per year. Keywords: Carocok Painan; Coastal Tourism; Contingent Valuation Method; Economic Valuation; Tourism Economic Value; Travel Cost Method AbstrakCarocok Painan merupakan salah satu kawasan yang potensial untuk tujuan wisata pesisir di Kabupaten Pesisir Selatan. Kawasan ini memiliki pantai yang indah, sumber daya pesisir dan situs sejarah yang dapat menarik wisatawan. Penelitian ini bertujuan untuk memperkirakan kondisi penawaran dan permintaan wisata pesisir Kawasan Carocok Painan. Kondisi penawaran berdasarkan analisis kualitas air, kesesuaian lahan, dan daya dukung menunjukkan bahwa Kawasan Carocok Painan sesuai untuk wisata pesisir. Analisis kondisi permintaan menunjukkan bahwa nilai ekonomi Kawasan Carocok Painan bagi wisatawan yang diestimasi dengan travel cost method adalah Rp41.521.536.000 per tahun, sedangkan nilai ekonomi bagi penduduk yang diestimasi dengan contingent valuation method adalah Rp347.756.632 per tahun.
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Epifanov, E. S., and N. Z. Atarov. "Methods of valuation for an Internet business." Voprosy regionalnoj ekonomiki 30, no. 1 (2017): 83–89. http://dx.doi.org/10.21499/2078-4023-2017-30-1-83-89.

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This article presents a description of the main methods of valuation Internet business: a comparative approach, the income approach, the cost approach; and provides guidance on the valuation of Internet projects.
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Joshi, Dhruv. "Intellectual Property Valuation Using Income Approach Method for Technology Licensing." Information Management and Business Review 3, no. 6 (2011): 302–14. http://dx.doi.org/10.22610/imbr.v3i6.947.

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Technology licensing is one of the key transactions that enable translation of R&D investments into profits by commercialization of technology. The elementary economics of such transaction suggests that while a licensor attempts to derive benefits greater than the cost of development of the technology protected by IPR, in exchange of monopoly rights, the licensee attempts to minimize the license value to ensure higher profits. This leads to the requirement of valuation of the technology by either party. This paper presents some of the key characteristics related to intellectual property valuation and an analysis of the income method approach in estimating the profitability of commercialization of a technology involving a patent.
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Grigoryev, V. V. "Specifics of the Discount Rate Calculaton in the Business Valuation." Economics, taxes & law 11, no. 3 (2018): 83–88. http://dx.doi.org/10.26794/1999-849x-2018-11-3-83-88.

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The paper examines two main methods of the discount rate calculation for business valuation: cumulative and weighted average capital cost (WACC), discloses the importance of business valuation for improving the business activity of a company, proposes the principles of the discount rate calculation, examines ways to determine additional risks in the implementation of the cumulative method, and analyzes the costs of the equity and borrowed capital in the implementation of the WACC method. The purpose of the research was to perform a comprehensive analysis of the methods for calculating cash flow discount rates for equity capital and for all invested capital. The research resulted in the development of methods for measuring additional risks in the calculation of the cash flow discount rate for equity and identifying risks in the calculation of the weighted average discount rate of the cash flow for the total invested capital. The research findings can be used for boosting business activities as well as for business valuation and management. It is concluded that every percent of additional risk in the discount rate calculation increases the size of the rate and reduces the cost of a valuated business.
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Croci, Edoardo, Benedetta Lucchitta, and Tommaso Penati. "Valuing Ecosystem Services at the Urban Level: A Critical Review." Sustainability 13, no. 3 (2021): 1129. http://dx.doi.org/10.3390/su13031129.

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This paper critically analyses the methodologies that can be adopted to value ecosystem services (ESs) at the urban level through a literature review. While literature on ES valuation has grown in recent years, its application to urban contexts is still limited. Twenty-five papers, which include 29 different case studies, carry out an economic valuation and have undergone an in-depth analysis. The papers have been selected out of 80 papers detected through keywords. Six different valuation methodologies have been employed in the case studies. The most common ESs valued at the urban level are air quality regulation, local climate regulation, carbon sequestration and storage, and aesthetic appreciation and inspiration for culture, art, and design. The methodologies recur with different frequencies in the valuation of ESs at the urban level. Choice modeling and contingent valuation methodologies are used to value a variety of ESs, including regulating, cultural, and supporting services. Other methodologies are used to value only specific ESs. The replacement cost and damage cost avoided methodologies are used for the assessment of regulation services only; the travel cost method and contingent valuation are used for cultural services only. The results indicate that the considered valuation methodologies show different levels of appropriateness with respect to specific ES categories. Therefore, there is a need to expand the application of valuation methodologies to capture the value of all ESs provided by natural resources, in order to protect and enhance them.
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Handayani, Tri Dian, Trisla Warningsih, and Lamun Bathara. "The Economic Valuation of Marjoly Beach and Resort Tour with Travel Cost Method (Travel Cost Method) Bintan District, Riau Islands Province." Jurnal Perikanan dan Kelautan 26, no. 2 (2021): 115. http://dx.doi.org/10.31258/jpk.26.2.115-124.

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This research was conducted at Marjoly Beach and Resort, Bintan Regency, Riau Islands Province. This study aims to describe the accommodation and entertainment as well as the socio-economic characteristics of visitors to Marjoly Beach and Resort, to analyze the factors that influence tourist visits to Marjoly Beach and Resort, to analyze the amount of economic value obtained by Marjoly Beach and Resort by accidental sampling with a total of 30 respondents. . The data needed in this research include primary and secondary data. Data were analyzed using descriptive analysis and multiple linear regression and from consumer surplus using the travel cost method. Respondents are determined using the travel cost method approach by estimating the economic value seen from the consumer surplus. The results showed that the total travel costs incurred by all visitors as respondents were around Rp. 38,035,000. Factors that influence tourist visits to Marjoly Beach and Resort are travel costs, income and age. The consumer surplus value obtained from the travel cost method is Rp. 50,276,669.60/ person per year or Rp. 17,955,953.4/ person per visit, then the total economic value obtained from assuming a surplus of tourism consumers in Marjoly Beach and Resort is Rp. 2,295,129,967.25.
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JANG, WON-JOON, and JEONG-DONG LEE. "THE APPLICATION OF REAL OPTIONS THEORY IN DEFENSE R&D PROJECTS: AN EIGHT-FOLD SEQUENTIAL COMPOUND OPTION MODEL." International Journal of Innovation and Technology Management 08, no. 01 (2011): 95–112. http://dx.doi.org/10.1142/s0219877011002179.

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Today, despite the needs of more credible valuation models in defense research and development (R&D), defense decision makers mainly focus on previous cost and NPV-based approaches to evaluate them. Defense R&D projects should be considered as a sequential compound real option due to its relevant characteristics. This paper presents a real option valuation model with the use of an eight-fold compound option in the valuation of defense R&D projects and its illustrative application using a case study in the Republic of Korea. Compared to the traditional net present value (NPV) methods and their sensitivity analyses with value drivers, the paper shows the necessity of using real option approaches and their mindsets for defense decision makers to decide their defense R&D projects. The contribution of this paper is to present the real option framework in valuating of defense R&D projects, providing for the managerial flexibility with option mindsets. It also shows some limitations of using cost- and NPV-based approaches and presents real options valuation methods as its solution. The paper suggests some feasible defense policy implications that can be applied to the actual process of defense acquisition projects.
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OKUYAMA, Tadahiro. "A MIXED MODEL OF ENVIRONMENTAL VALUETION USING THE TRAVEL COST METHOD AND THE CONTINGENT VALUATION METHOD." ENVIRONMENTAL SYSTEMS RESEARCH 35 (2007): 235–46. http://dx.doi.org/10.2208/proer.35.235.

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42

Smith, Thomas, Adrian Valencia, and Ara Volkan. "An Alternative Method Of Accounting For Stock Options." Journal of Applied Business Research (JABR) 30, no. 2 (2014): 439. http://dx.doi.org/10.19030/jabr.v30i2.8415.

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<p>Currently, the grant date fair value of employee stock options is expensed over the vesting period. Our study introduces a new valuation approach for stock options and examines the impact of this change on earning per share (EPS) for a sample of firms over the period 2002-2011. The new valuation approach provides data useful to the Financial Accounting Standards Board (FASB) as it determines whether to revise the current option accounting rules. Under the proposed approach, options are valued at their intrinsic value on the grant date (i.e., the opportunity cost or the economic promise associated with the difference between the exercise price of the option and the market price of the stock at each measurement date) and further revalued each reporting date until the options are exercised.</p>
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43

Maas, Harro. "Politicizing the Environment." History of Political Economy 53, no. 6 (2021): 293–323. http://dx.doi.org/10.1215/00182702-9414889.

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At the end of the 1950s, resource economists developed a method to derive demand functions for recreation sites from travel cost data for recreation planning purposes. Based on this work, a second, direct method of measurement was developed in the early sixties that became known as the contingent valuation method. Initially, this method asked respondents directly about their willingness to pay for a realistically described recreational amenity. When contingent valuation became used for valuation studies of environmental and health issues in a regulatory and legal framework, initial support for the method from resource and mainstream economists faded away, leading to a split in the profession between those who considered the method fit for this second purpose and those who considered this second use inappropriate and politically charged. Because much of this history has been told, including in this journal, the emphasis here is on the relation between indirect and direct inference pertaining to both methods, and the challenges that contingent valuation, as a method of direct inference, poses to the quality of a questionnaire and the possibilities of educating respondents in making a reasoned choice for the amenity on offer.
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LIU, Chao, Wanglai CUI, Haiping YANG, Xianjiong YU, and Xiaoli YING. "Assessment of the Value of Services and Emergy in the Zhoushan Coastal Waters Ecosystem." Journal of Environment and Ecology 8, no. 1 (2017): 8. http://dx.doi.org/10.5296/jee.v8i1.10522.

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Based on the four aspects of the marine ecosystem service system, namely supply, regulation, culture and support, the service function system of the marine ecosystem in the Zhoushan coastal area was constructed. The ecosystem valuation by assigning economic value to its services through valuation methods (the market value method, results reference method, shadow engineering method, replacement cost method) and the emergy analysis method were used to estimate the service value of the Zhoushan coastal marine ecosystem. The results revealed that in 2015, the total valuation of the marine ecosystem services of Zhoushan coastal water was 868.47×104 CNY, while the total emergy-currency value was 1246.92×108 CNY. The per unit valuation of the ecosystem services was 417.57×104 CNY/km2, while the per unit emergy-currency value is 600×104 CNY/km2. In the total valuation of the Zhoushan offshore ecosystem, the proportion of the values of supply services, regulating services, support services and cultural service was 11.80, 19.47, 29.66 and 39.6%, respectively. In the total emergy-currency value, the value of the supply services, regulation services and cultural services accounted for 9.19, 5.52 and 85.37% respectively. The results provide important reference for the maintenance and sustainable use of the marine ecosystem services, scientific management of the marine ecosystem in the Zhoushan coastal waters.
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45

BOGATYREV, Sergei Yu. "The sentiment analysis method in finance: The psychological-financial index." Finance and Credit 27, no. 3 (2021): 561–84. http://dx.doi.org/10.24891/fc.27.3.561.

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Subject. The article discusses contemporary means of measuring emotions of those who make financial decisions. Objectives. Analyzing key means of sentiment analysis in Russia and abroad, the study is to create a tool, which would be applicable to valuation and provide the unbiased information about the emotional state of those who locally make financial decisions. I also demonstrate limited capabilities of contemporary information systems in terms of emotion measurement, valuation, and present means to address the imperfection of the existing news tone measurement framework, unveil the content of new emotion measurement techniques, which would be useful to appraisers and cost analysts. Methods. The study is based on the induction and deduction for opinion poll processing, narrative analysis in data environments. I display the nexus with new technological means of modern information systems. Results. The article unveils the substance of key methods for setting the psychological-financial index, modern means of sentiment analysis in the new setting of the digital economy and Big Data. I scrutinize key constituents of the psychological-financial index and its use in the current circumstances of the post-COVID-19 economy. The article shows how psychological measurement methods can be implemented as part of the narrative analysis. Conclusions and Relevance. Financial analysts get new opportunities when using new achievements of behavioral finance and modern psychological studies. As the use of the psychological-financial index shows in analyzing market anomalies, there appear more opportunities for explaining the irrational behavior of market agents in its various segments. New standards are set as they are needed for valuation purposes, when financial analysts use them. Reporting is normalized. I provide an outlook of the analytical apparatus development and new indicators to use valuation results more efficiently. The findings hereof are applicable to the practice of contemporary appraisers, cost and fundamental analysts. It is especially important to use sentiment analysis tools in the digital economy, during the instability and crisis, change in the market paradigm, market shifts, changes in the comparability metrics, distortion of traditional financial and economic indicators, market volatility. The use of the psychological-financial index supplements and expands the scope of classical measurement tools and increase the quality of valuation.
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Khoirudin, Rifki, and Uswatun Khasanah. "Valuasi Ekonomi Objek Wisata Pantai Parangtritis, Bantul Yogyakarta." Jurnal Ekonomi dan Pembangunan Indonesia 18, no. 2 (2018): 152–66. http://dx.doi.org/10.21002/jepi.v18i2.785.

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Economic Valuation of Parangtritis Beach, Bantul YogyakartaAbstractThe valuation of Pantai Parangtritis becomes very important along with the micro issue concerning the plan of infrastructure development, facilities and infrastructure in south region. Development of infrastructure in process is Jalur Lintas Selatan Street which includes the area around Parangtritis Beach. The analytical tool used to know variable that influence number of traveler to Parangtritis tourist attraction and the economic value of Parangtritis Beach is Travel Cost Method. Based on the research findings that the variable of total cost, income level, age, and education level influence the number of visits to Parangtritis Beach. While the economic valuation of Parangtritis Beach is Rp14.605.101.491.Keywords: Valuation; Economic; Travel CostAbstrakPenilaian Pantai Parangtritis menjadi sangat penting seiring dengan masalah mikro mengenai rencana pembangunan infrastruktur, sarana, dan prasarana di wilayah jalur selatan. Pembangunan infrastruktur yang baru berjalan di antaranya Jalan Jalus Lintas Selatan yang di dalamnya termasuk wilayah sekitar Pantai Parangtritis. Alat analisis yang digunakan untuk mengetahui variabel yang memengaruhi jumlah wisatawan terhadap objek wisata Parangtritis dan nilai ekonomi Pantai Parangtritis adalah Travel Cost Method. Berdasarkan hasil penelitian bahwa variabel total biaya, tingkat pendapatan, usia, dan tingkat pendidikan memengaruhi jumlah kunjungan ke Pantai Parangtritis. Sementara itu valuasi ekonomi Pantai Parangtritis adalah sebesar Rp14.605.101.491.
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Ernawan, Fikri Nurrachman, and Rika Harini. "Economic valuation of Blue Lagoon Tourism Village Widodomartani Sleman." E3S Web of Conferences 200 (2020): 03003. http://dx.doi.org/10.1051/e3sconf/202020003003.

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Blue Lagoon Tourism Village is one of the developing tourism villages in Sleman Regency. Blue Lagoon Tourism Village has great potential to become an advanced tourism village when viewed from the aspect of attraction, accessibility, facilities, and ancillary services (4A). Research objectives are to calculate the economic valuation using the travel cost method and calculate bequest value of the Blue Lagoon Tourism Village. This research conducted by sequential explanatory technique that uses quantitative and qualitative methods in sequence. Assessment of the economic value of tourism activities in the Blue Lagoon analyzed using the Individual Travel Cost Method (ITCM). Multiple linear regression tests were also conducted to obtain the value of regression function. Otherwise calculation of bequest value is carried out using the contingency valuation method (CVM) in the form of willingness to pay (WTP). Potential economic value of Blue Lagoon Tourism Village is IDR 6 019 052 924 yr–1, while actual economic income is IDR 1 802 827 450 or 23.05 % of economic potential. Bequest value of Blue Lagoon is IDR 610 521 783 yr–1 with 6.45 ha of area, so bequest value based on area is IDR 94 650 758.
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Гусев, Андрей, Andrey Gusev, Денис Нарулин, and Denis Narulin. "Real options method in the assessment of mining industry investment." Russian Journal of Management 2, no. 6 (2014): 261–68. http://dx.doi.org/10.12737/11218.

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Investment in mining projects involves significant costs, long period of time, consistent type of investment decisions and complex mosaic of the many unforeseen factors affecting the cost of the project. Real options valuation (ROV) is one of the modern methods of assessment that helps in adaptation and revision of mining projects under uncertainty. Application of the method is technically demanding and requires a certain knowledge of the mining industry, and also has three main barriers: the problem of marketing, analysis and consequences. The mathematical basis of this method is a valuation model based on option pricing model, invented by Black — Scholes. List of alternatives and opportunities in project phases discussed in the article demonstrates perfect suitability of the mining industry for practicing different types of real options.
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Yin, Yi Lin, Wen Zheng Hu, and Ya Ling Du. "Research on the Affecting Factors of Claim under Bill Quantity of Construction Works in China." Applied Mechanics and Materials 584-586 (July 2014): 2432–37. http://dx.doi.org/10.4028/www.scientific.net/amm.584-586.2432.

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Claim is an important part of the code of valuation with bill quantity, but the connotation and extension of claims are not defined in the valuation mode of Bill of Quantities. Therefore, on the basis of foreign constitute systems, this paper uses deductive reasoning method to study the presumptive constitute of cost claim research. Combined the assumption with the characteristics of BQ in China, this paper puts forward the constituent system framework of construction cost claiming in China, and conduct specific research on profit claim。
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Yin, Yi Lin, Yu Chen Huo, and Tong Sun. "A Study of the Constitute System of Cost Claim under the Valuation Mode of Bill of Quantities (BQ)." Applied Mechanics and Materials 357-360 (August 2013): 2659–64. http://dx.doi.org/10.4028/www.scientific.net/amm.357-360.2659.

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Claim is an important part of the code of valuation with bill quantity, but the connotation and extension of claims are not defined in the valuation mode of Bill of Quantities. Therefore, on the basis of foreign constitute systems, this paper uses deductive reasoning method to study the presumptive constitute of cost claim research. Combined the assumption with the characteristics of BQ in China, this paper puts forward the constituent system framework of construction cost claiming in China, and conduct specific research on profit claim
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