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Journal articles on the topic 'Valuation problems'

Author: Grafiati

Published: 4 June 2021

Last updated: 1 February 2022

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1

Crosby, Neil, John Murdoch, and Anthony Lavers. "Expert valuation witnesses in the UK – problems and solutions." Journal of Property Investment & Finance 20, no. 4 (August 1, 2002): 316–53. http://dx.doi.org/10.1108/14635780210435038.

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This paper addresses the performance, training and organisation of expert valuation witnesses in the UK. Previous research, based on analysis of professional negligence cases in the UK courts, had found that expert valuation witnesses do not always perform rationally, for example informing courts that valuations can be undertaken within acceptable tolerances of valuation accuracy, while giving expert evidence that differed by more than these tolerances. There was evidence that, while well aware of their overriding duty to the court or tribunal, expert witnesses were frequently producing client‐biased valuations. Such findings provoked questions as to whether standards would be improved by two recently proposed alterations to current practice: either the introduction of a system of compulsory training and accreditation for such witnesses, or a change from the process by which expert valuation evidence is normally presented (one expert witness for each party to a dispute) to the use of a single expert, appointed either by the parties jointly or by the court. A case analysis is performed and conclusions discussed.

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Waibel, Désirée, Thorsten Peetz, and Frank Meier. "Valuation Constellations." Valuation Studies 8, no. 1 (April 29, 2021): 33–66. http://dx.doi.org/10.3384/vs.2001-5992.2021.8.1.33-66.

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The focus on situated practices in current valuation studies becomes an obstacle when situations are too narrowly defined, when moments of valuation are treated as isolated events and especially when the interconnectedness of moments across situations and social fields is neglected. In order to overcome these limitations, we propose the concept of valuation constellations (Meier et al. 2016). Based on the literature on valuation the concept distinguishes positions and their relations, rules, and infrastructures. We present these three components of constellations and demonstrate the potential of the concept regarding three analytical puzzles of valuation analysis: historical change of valuation processes, the definition and solution of valuation problems, and the legitimacy of valuations. Each of the puzzles is illustrated with an empirical case, i.e. dating platforms and apps, higher education, and amateur reviewing. Going beyond situationalism, the valuation constellations perspective is key to understanding interconnected valuation processes.

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3

Ausloos, Marcel. "Valuation Models Applied to Value-Based Management—Application to the Case of UK Companies with Problems." Forecasting 2, no. 4 (December 11, 2020): 549–65. http://dx.doi.org/10.3390/forecast2040029.

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Many still rightly wonder whether accounting numbers affect business value. Basic questions are “why?” and “how?” We aim at promoting an objective choice on how optimizing the most suitable valuation methods under a “value-based management” framework through some performance measurement systems. First, we present a comprehensive review of valuation methods. Three valuations methods, (i) Free Cash Flow Valuation Model (FCFVM), (ii) Residual Earning Valuation Model (REVM) and (iii) Abnormal Earning Growth Model (AEGM), are presented. We point out advantages and limitations. As applications, the proofs of our findings are illustrated on three study cases: Marks & Spencer’s (M&S’s) business pattern (size and growth prospect), which had a recently advertised valuation “problem”, and two comparable companies, Tesco and Sainsbury’s, all three chosen for multiple-based valuation. For the purpose, two value drivers are chosen, EnV/EBIT (entity value/earnings before interests and taxes) and the corresponding EnV/Sales. Thus, the question whether accounting numbers through models based on mathematical economics truly affect business value has an answer: “Maybe, yes”.

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4

Sutyagin, V. Yu, and M. V. Bespalov. "Current Problems of Cadastral Valuation Reliability." Accounting. Analysis. Auditing 5, no. 6 (December 29, 2018): 73–80. http://dx.doi.org/10.26794/2408-9303-2018-5-6-73-80.

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The article deals with the current issues of cadastral valuation reliability on the example of Tambov region. The authors consider the genesis of development of cadastral valuation institute and the related matters. The problems of cadastral valuation result from the imbalance of the taxation system because property and land taxes are a few real local taxes. That is why local authorities solve the problem of the development of the local tax base by means of systematic overestimating cadastral value. In article analyses certain problems of cadastral valuation, such as procedural aspects and statistics of contesting cadastral valuation, accounting and singling out of a value added tax in the fnal result of valuation along with the arising conﬂicts of interest between the regional and federal authorities.

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5

Gulabyan, A. "The Appraisal of Assets’ Fair Value Using the Real Options Technique." Review of Business and Economics Studies 8, no. 2 (March 1, 2021): 43–76. http://dx.doi.org/10.26794/2308-944x-2020-8-2-43-76.

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The goal of this paper is to analyse and systematise the possible approaches to real options valuation, especially when considering the practical aspects of their application in real-life valuation problems. Therefore, the paper sets the following tasks: To outline the concept of fair value and analyse the traditional approaches to its calculation in the context of asset valuation To define the real-option approach to fair value estimation and analyse its theoretical background To determine the role of the real options approach in the traditional system of valuation techniques To analyse the practical aspects of their application in valuation problems considering the corresponding examples To provide the real-life example of this technique applied in current market conditions using the recent data. The object of this research is the option pricing models, and the subject is their application in estimation of real options embedded in corporate valuations, particularly considering the side.

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6

Augustyniak, Hanna, Jacek Laszek, Krzysztof Olszewski, and Joanna Waszczuk. "Property valuation for mortgage purposes in Poland." Property Management 36, no. 2 (April 16, 2018): 234–47. http://dx.doi.org/10.1108/pm-09-2016-0049.

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Purpose The purpose of this paper is to describe the property valuation methods that are applied in Poland. It shows that they base on international standards and are a reliable source of information for international investors and banks. Design/methodology/approach The valuation methods are described and critically assessed, potential problems are pointed out. The analysis of lending risk is analysed on data about non-performing loans (NPL). Findings Polish valuation methods are in line with international methods, but there are some risks, like small number of transactions, subjective behaviour of valuers. The low NPL ratios indicate that the valuation works correctly. Practical implications The Polish valuation methods are trustworthy, non-performing mortgage ratios are low, however, banks and investors should ask whether there is a local zoning plan. Moreover, they should look critically at the comparables that were used during the valuation process, if in their opinion the valuation is overly low or high. Originality/value This paper focusses on valuation from a financial stability perspective. It uses Polish literature and data on NPLs to give an insight on valuation of property and mortgage risk in Poland. Besides the review of the methods it points out the problems related to valuation uncertainty, such as the risk of subjective behaviour of valuers and the low number of transactions in some regions, which are used for valuations.

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7

Gdakowicz, Anna, and Ewa Putek-Szeląg. "The Use of Statistical Methods for Determining Attribute Weights and the Influence of Attributes on Property Value." Real Estate Management and Valuation 28, no. 4 (December 1, 2020): 33–47. http://dx.doi.org/10.1515/remav-2020-0030.

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AbstractDetermining the impact of individual attributes on the value or price of real estate in business practice poses many problems. One of the solutions to this problem is the use of statistical methods. The article proposes correlation coefficients (and their partial modifications) that can be used to determine the impact of selected features on the value of real estate. In addition, several procedures were taken into account for the factors in further calculations, using different methods for determining weights. Empirical verification of the proposed solutions was based on the mass valuation of land properties. The obtained results were compared with valuations developed by property appraisers and valuation errors were calculated. Based on valuation errors, the proposed methods of calculation procedures were ranged, indicating those which provide results closest to the individual valuations carried out by property appraisers.

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8

Schlapfer, Felix. "Contingent valuation: confusions, problems, and solutions." Ecological Economics 68, no. 6 (April 2009): 1569–71. http://dx.doi.org/10.1016/j.ecolecon.2009.01.014.

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9

Tajudeen, Aluko Bioye. "PRIVATIZATION OF PUBLIC ENTERPRISES IN NIGERIA: VALUATION ISSUES AND PROBLEMS." Journal of Business Economics and Management 5, no. 4 (December 31, 2004): 193–203. http://dx.doi.org/10.3846/16111699.2004.9636083.

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Privatization of public enterprises is a rapidly growing phenomenon in developing countries. However, it requires a lot of policy decisions and careful planning, which depend on high‐quality accounting and valuation data. But, the major controversy which trailed the first phase of privatization programmes in Nigeria is the asset valuation methodology. This article therefore examines valuation issues and problems besetting divestiture of public enterprises in the country and offers suggestions toward improving upon the quality of asset valuation for privatization.

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10

Tarasov, Artem, Kseniya Chegosheva, and Helena Lobanova. "PROBLEMS OF PROPERTY VALUATION FOR THE PLEDGE." Interexpo GEO-Siberia 6, no. 1 (2019): 221–26. http://dx.doi.org/10.33764/2618-981x-2019-6-1-221-226.

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In the article there is information about problems of valuation of real estate for purposes of mortgage lending − the methodology of collateral, lack of legislative framework for the assessment of collateral. The basic concepts are given.

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11

Đukić, Suzana, and Ljiljana Stanković. "Problems In The Valuation Of Business Customers." Economic Themes 52, no. 4 (December 1, 2014): 379–91. http://dx.doi.org/10.1515/ethemes-2014-0024.

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AbstractKey account management is becoming the dominant approach for managing long-term relationships with customers. It represents a set of processes and practices for managing interdependence between companies and customers in order to create added value for both sides. Such an approach to managing relationships with customers is of strategic importance for enterprises in the business market, as it allows the creation and development of synergic partnerships with valuable customers. A high level of interdependence, orientation to creating and delivering a set of benefits that exceed the basic product / service orientation to increased learning in relationships and reduction of uncertainty are the major characteristics of KAM. By managing their interdependence and using common skills and power, the partners focus on increasing their own competitiveness and value of supply. Leveraging resources is achieved through sharing of information, openness to new ideas, participation in decision making and problem solving at all organizational levels. Such relationships become the source of satisfaction of customers and their retention in the long term.

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12

Vámos, Peter. "Decomposition Problems for Modules Over Valuation Domains." Journal of the London Mathematical Society s2-41, no. 1 (February 1990): 10–26. http://dx.doi.org/10.1112/jlms/s2-41.1.10.

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13

Demirer, Rıza, and Prakash P. Shenoy. "Sequential valuation networks for asymmetric decision problems." European Journal of Operational Research 169, no. 1 (February 2006): 286–309. http://dx.doi.org/10.1016/j.ejor.2004.06.009.

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14

Tymoshchyk, L. "Property Valuation in the Property Management System: Analysis of Conceptual Problems." Modern Economics 24, no. 1 (December 16, 2020): 194–99. http://dx.doi.org/10.31521/modecon.v24(2020)-31.

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Introduction. Today, significant property assets in the form of real estate and land are in the possession of Ukraine. To make a profit from property requires an effective management system, an important tool of which is the assessment of property value. Purpose. The main purpose of the article is to consider the obstacles to the development of property valuation as one of the tools of property management. The article also explores the peculiarities of the development of Ukrainian legislation in the field of property valuation and management, presents general recommendations for the development of the property procedure. Results. The author identifies eleven conceptual problems of use and development of property valuation in the property management system. Among the most important is the lack of detailed legislative and procedural support of the property valuation procedure, in particular – the lack of a register of state property (both functionally real estate and unfinished), insufficient regulation of land and property legislation. Insufficient guarantees of observance of the rights to possession and use of property (real estate) are considered as obstacles to the growth of the role of small and medium business, and as a negative trend in the lives of people in the temporarily occupied territory. The influence on the development of property valuation of such market characteristics as competitiveness and lack of free competition, which contribute to the determination of the final value of property such factors as monopoly and government decisions, is analyzed. Conclusions. The process of property valuation occupies a significant place in the process of effective property management, but in our country this procedure is still developing. The author emphasizes that a fair and objective assessment requires, above all, respect for constitutional rights and guarantees in the field of property. The second priority area for improvement is the formation of an integrated and complete legal framework in the areas of property management and land law, the creation of a complete register of all state-owned real estate. It is recommended to pay attention to the need to study the impact of the market on the final valuation. Keywords: property valuation; property management valuation; property valuation mechanism; small business; real estate use right.

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15

Hoogendoorn, Martine, Mark Oppe, Melinde R. S. Boland, Lucas M. A. Goossens, Elly A. Stolk, and Maureen P. M. H. Rutten–van Mölken. "Exploring the Impact of Adding a Respiratory Dimension to the EQ-5D-5L." Medical Decision Making 39, no. 4 (May 2019): 393–404. http://dx.doi.org/10.1177/0272989x19847983.

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Objectives. To evaluate the impact of adding a respiratory dimension (a bolt-on dimension) to the EQ-5D-5L health state valuations. Methods. Based on extensive regression and principal component analyses, 2 respiratory bolt-on candidates were formulated: R1, limitations in physical activities due to shortness of breath, and R2, breathing problems. Valuation interviews for the selected bolt-ons were performed with a representative sample from the Dutch general public using the standardized interview protocol and software of the EuroQol group. Hybrid models based on the combined time-tradeoff (TTO) and discrete choice experiment (DCE) data were estimated to assess whether the 5 levels of the respiratory bolt-on led to significant changes in utility values. Results. For each bolt-on candidate, slightly more than 200 valuation interviews were conducted. Mean TTO values and DCE choice probabilities for health states with a level 4 or 5 for the respiratory dimension were significantly lower compared with the same health states in the Dutch EQ-5D-5L valuation study without the respiratory dimension. Results of hybrid models showed that for the bolt-on “limitations in physical activities,” the utility decrements were significant for level 3 (–0.055), level 4 (–0.087), and level 5 (–0.135). For “breathing problems,” the utility decrements for the same levels were greater (–0.086, –0.219, and –0.327, respectively). Conclusions. The addition of each of the 2 respiratory bolt-ons to the EQ-5D-5L had a significant effect on the valuation of health states with severe levels for the bolt-on. The bolt-on dimension “breathing problems” showed the greatest utility decrements and therefore seems the most appropriate respiratory bolt-on dimension.

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16

Zhen, Zhou, Zhang Runtong, Pen Yan, Rong Yihong, and Wang jie. "Fuzzy valuation-based system for Bayesian decision problems." Journal of Intelligent & Fuzzy Systems 30, no. 4 (March 10, 2016): 2319–29. http://dx.doi.org/10.3233/ifs-152002.

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17

Yang, Qing-Qing, Wai-Ki Ching, Wan-Hua He, and Na Song. "Effect of institutional deleveraging on option valuation problems." Journal of Industrial & Management Optimization 13, no. 5 (2017): 0. http://dx.doi.org/10.3934/jimo.2020060.

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18

Lepikhina, O. Y., and Y. F. Ososkova. "To present problems of real estate cadastral valuation." RUDN Journal of Economics 26, no. 1 (2018): 19–27. http://dx.doi.org/10.22363/2313-2329-2018-26-1-19-27.

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19

Weber, Bruce R., Alastair Adair, and Stanley McGreal. "Solutions to the five key brownfield valuation problems." Journal of Property Investment & Finance 26, no. 1 (February 8, 2008): 8–37. http://dx.doi.org/10.1108/14635780810845145.

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20

Szymański, Piotr. "What Problems Does Business Valuation Practice Encounter—Survey." Business Valuation Review 31, no. 1 (March 2012): 4–22. http://dx.doi.org/10.5791/0882-2875-31.1.4.

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21

Bondarchuk, Alina. "PROBLEMS BUSINESS VALUATION ENTERPRISES DISCOUNTED CASH FLOW METHOD." Drukerovskij vestnik, no. 1 (March 2015): 142–46. http://dx.doi.org/10.17213/2312-6469-2015-1-142-146.

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22

Brace, A. "A linear approach to loan and valuation problems." Journal of the Institute of Actuaries 114, no. 2 (September 1987): 393–402. http://dx.doi.org/10.1017/s0020268100019119.

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An approach to loan and valuation problems through linear algebra is used to cast commonly applied rules into a general form suitable for routine use under complex conditions. An illustrative example is included.

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23

Bateman, Ian. "Contingent valuation and hedonic pricing: problems and possibilities." Landscape Research 19, no. 1 (March 1994): 30–32. http://dx.doi.org/10.1080/01426399408706420.

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24

van den Brink, René, Marina Núñez, and Francisco Robles. "Valuation monotonicity, fairness and stability in assignment problems." Journal of Economic Theory 195 (July 2021): 105277. http://dx.doi.org/10.1016/j.jet.2021.105277.

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25

Kucharska-Stasiak, Ewa, and Katarzyna Olbińska. "Reflecting Sustainability in Property Valuation - Defining the Problem." Real Estate Management and Valuation 26, no. 2 (June 1, 2018): 60–70. http://dx.doi.org/10.2478/remav-2018-0016.

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Abstract A major topic in discussions about environmental protection is the concept of sustainable development utilizing the economic criteria enhanced by environmental, social and ethical aspects. The concept inspired a new approach to construction and paved the way for the idea of sustainable buildings. Sustainable buildings are expected to offer economic benefits to their owners and tenants that should be reflected in property values. The authors test a hypothesis that the real estate market in Poland still fails to incorporate sustainability in property valuation. The article seeks evidence in support of this hypothesis, as well as attempting to find out why the market does not pay a premium for sustainability. To accomplish the purpose of the research, a systematic literature review, an analysis of the pilot studies available in Poland and a preliminary assessment of the ability of valuation methods to reflect sustainability in property valuations are performed. The focus of the research is on the office property market, one of the fastest growing and most modern segments of the real estate market. The conclusion drawn from the research is that, of all respondents surveyed by international studies, Polish developers, property owners, tenants and valuers know the least about sustainable building and that the evidence of the benefits of sustainable building is still unavailable in the Polish real estate market. Such benefits are rather hypothesized to exist and considered theoretically rather than empirically confirmed. It is possible that the reasons for these findings are the short period of research and problems with distinguishing sustainable buildings from conventional ones, which make it difficult for valuers to reflect the benefits of sustainability in valuations. Nevertheless, a new approach to property valuation encompassing environmental, ethical and moral aspects seems necessary. This would encourage sustainable building and green investment strategies. Sustainable valuation would also be an opportunity for the development of the valuation profession.

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26

Hausman, Jerry. "Contingent Valuation: From Dubious to Hopeless." Journal of Economic Perspectives 26, no. 4 (November 1, 2012): 43–56. http://dx.doi.org/10.1257/jep.26.4.43.

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Approximately 20 years ago, Peter Diamond and I wrote an article for this journal analyzing contingent valuation methods. At that time Peter's view was that contingent valuation was hopeless, while I was dubious but somewhat more optimistic. But 20 years later, after millions of dollars of largely government-funded research, I have concluded that Peter's earlier position was correct and that contingent valuation is hopeless. In this paper, I selectively review the contingent valuation literature, focusing on empirical results. I find that three long-standing problems continue to exist: 1) hypothetical response bias that leads contingent valuation to overstatements of value; 2) large differences between willingness to pay and willingness to accept; and 3) the embedding problem which encompasses scope problems. The problems of embedding and scope are likely to be the most intractable. Indeed, I believe that respondents to contingent valuation surveys are often not responding out of stable or well-defined preferences, but are essentially inventing their answers on the fly, in a way which makes the resulting data useless for serious analysis. Finally, I offer a case study of a prominent contingent valuation study done by recognized experts in this approach, a study that should be only minimally affected by these concerns but in which the answers of respondents to the survey are implausible and inconsistent.

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27

Tutino, Marco, and Marco Pompili. "Fair value accounting and management opportunism on earnings management in banking sector: First evidence." Corporate Ownership and Control 15 (2018): 59–69. http://dx.doi.org/10.22495/cocv15i2art5.

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Accounting standard boards (IASB and FASB) have chosen fair value accounting (FVA) approach to help financial reporting users in the decision-making process. During recent years, an intense debate arose about the trade-off between relevance and reliability of accounting information in this approach. Even if fair value based information could be considered highly relevant and helpful from an investor’s perspective, many authors outline problems related to fair value hierarchy valuation of financial instruments. In particular, the discretionary use of unobservable inputs in financial instruments valuation process can support earnings management strategy underlying the risk for emerging agency problems, moral hazard behaviour and management short-termism. Stating that, after providing a literature review focused on management behaviour related to FVA, the main objective of the paper is identifying possible relationships between FVA valuations and earning quality observing a sample of US and European banks listed in the period 2011-2016 based on Šodan model (Sodan, 2015). Results show a negative and strong relationship between FVA and earning quality for US banks; results for European listed banks do not provide any strong evidence.

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28

Turcas, Florin, Florin Dumiter, Petre Brezeanu, and Stefania Jimon. "Theoretical and Practical Issues in Business Valuation." Studia Universitatis „Vasile Goldis” Arad – Economics Series 26, no. 4 (November 1, 2016): 1–23. http://dx.doi.org/10.1515/sues-2016-0016.

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Abstract Business valuation is dealing with a series of difficulties, legislative and/or normative inaccuracies, as well as problems related to divergent results obtained by standard approaches. This material is synthesizing some of these problems, highlighting possible research directions. Each of the standard approaches is investigated, theoretically and practically analyzed, and the conclusions constitute a basis for developing new theories in the field of valuation.

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29

OVSIUK, N. "Valuation and Recording the Value of Innovation Objects in the Accounting System." Scientific Bulletin of the National Academy of Statistics, Accounting and Audit, no. 3 (December 22, 2020): 47–54. http://dx.doi.org/10.31767/nasoa.3-2020.05.

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The problems of valuating and recording the value of innovation objects in the system of accounting and reporting are investigated. It is argued that one of the factors hindering the development of innovation is insufficient information support covering a set of primary and consolidated data, the organization of storage of accumulated information and methods of its presentation and transformation. The main valuation models used by business entities to include the value of innovation objects in the economic transactions are identified. It is established that the commercial use of innovation objects requires calculation of market or other value. The main methodological approaches to valuation of innovation objects and their impact on the formation of the value of innovation objects are proposed, taking into account these objects’ characteristics, specifics of the economic activities in which they are exploited, and availability of information on a group of objects, which determines the choice of appropriate valuation approach. The ways of valuating innovation objects at company level are highlighted. Methodological approaches to recording business transactions with innovation objects in the accounting and reporting system are elaborated, which will contribute in the sound assessment of innovation objects and their correct recording in the accounting system of a business entity and ensure effective management of innovation.

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30

Gubareni, Nadiya. "Some mixed matrix problems over several discrete valuation rings." Journal of Applied Mathematics and Computational Mechanics 12, no. 4 (December 2013): 47–58. http://dx.doi.org/10.17512/jamcm.2013.4.06.

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31

Shenoy, Prakash P. "Valuation network representation and solution of asymmetric decision problems." European Journal of Operational Research 121, no. 3 (March 2000): 579–608. http://dx.doi.org/10.1016/s0377-2217(99)00055-7.

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32

Pham, Thang, and Le Anh Vinh. "Some combinatorial number theory problems over finite valuation rings." Illinois Journal of Mathematics 61, no. 1-2 (2017): 243–57. http://dx.doi.org/10.1215/ijm/1520046218.

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33

Raslanas, Saulius, Edmundas Kazimieras Zavadskas, Artūras Kaklauskas, and Arūnas Remigijus Zabulėnas. "LAND VALUE TAX IN THE CONTEXT OF SUSTAINABLE URBAN DEVELOPMENT AND ASSESSMENT. PART II - ANALYSIS OF LAND VALUATION TECHNIQUES: THE CASE OF VILNIUS." International Journal of Strategic Property Management 14, no. 2 (June 30, 2010): 173–90. http://dx.doi.org/10.3846/ijspm.2010.13.

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Part Two of this article deals with problems related to land valuation. For that purpose, a site of 6.89 ares located in Švitrigailos Street XX, Vilnius, was selected as the research object and appraised using three approaches: the sales comparison approach, the MAMVA method and the mass valuation approach. Peculiarities of these methods in land valuation were reviewed and the recommendations were provided for land valuation for taxation purposes applicable in a new Model for Lithuanian Real Property Taxation System. Santruka Antroje šio straipsnio dalyje nagrinejamos problemos, susijusios su žemes sklypu vertinimu. Tuo tikslu buvo parinktas konkretus 6,89 aru ploto žemes sklypas, esantis Švitrigailos g. XX, Vilniuje, ir ivertintas trimis būdais: lyginamosios vertes, MAMVA metodais ir masinio vertinimo būdu. Apžvelgti šiu metodu taikymo ypatumai vertinant žemes sklypus, pateiktos rekomendacijos, kaip nustatyti mokestines žemes sklypu vertes ir pritaikyti siūlomam naujam Lietuvos nekilnojamojo turto apmokestinimo modeliui.

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Ибрагимов, Линар, Linar Ibragimov, Ильнур Сафиуллин, Il'nur Safiullin, Эльмира Амирова, and Elmira Amirova. "MAIN PROBLEMS OF CADASTRAL ESTIMATION OF AGRICULTURAL LAND ON THE EXAMPLE OF THE REPUBLIC OF TATARSTAN." Vestnik of Kazan State Agrarian University 13, no. 3 (November 7, 2018): 116–21. http://dx.doi.org/10.12737/article_5bcf57a4bf7079.34058146.

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The development of the agrarian sector of the economy is possible only with the rational use of all the applied costs and resources, including land. One of the most important conditions ensuring the rational use of agricultural land is the work on cadastral valuation of land and application of its results to the practice of the operation of agricultural units. This article is devoted to the generalization of the results of the cadastral valuation of agricultural land on the example of the Republic of Tatarstan. The work reveals the main problems faced by appraisers in conducting cadastral valuation of agricultural land.

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35

Sheldon, T. J., and A. D. Smith. "Market Consistent Valuation of Life Assurance Business." British Actuarial Journal 10, no. 3 (August 1, 2004): 543–605. http://dx.doi.org/10.1017/s1357321700002695.

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ABSTRACTIn recent years there has been a trend towards market consistent valuation in those institutions for which actuaries have responsibilities. The larger United Kingdom with-profits insurance companies are now preparing realistic balance sheets, both for internal purposes and also at the request of the Financial Services Authority. International accounting standards have been moving to a fair value approach. Pension fund accounting under FRS 17 has also moved in this direction.In this paper we examine the reasons for the adoption of market consistent valuation and discuss some of the commercial implications and corporate valuation. We consider the methods and assumptions which can be used to develop market consistent valuations of cash flows typically encountered in the liabilities of financial institutions, together with some of the problems inherent in the calibration of models used for the valuation of these cash flows. The volatility assumption is crucial to the valuation of options and guarantees, and we discuss the relationship between historical and implied volatility.While most insurance companies initially adopted formulae to value their with-profits guarantees, several offices are now using a Monte Carlo simulation approach for their realistic balance sheets. The Monte Carlo approach enables allowance to be made for management discretion in bonus and investment policy, as well as policyholder actions. However, in many cases it is possible to develop analytical formulae for cash flows approximating those payable under insurance contracts.The valuation formulae have implications for the hedging of embedded guarantees. The authors discuss the construction of hedges for financial risks in with-profits funds, the separate perspectives of policyholders and shareholders, possible funds in which to hold hedging instruments, limitations of capital market hedging tools and the effect of taxation on hedge effectiveness.

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Menciūnienė, Vida, Daiva Rugenytė, and Žaneta Simanavičienė. "THE PRACTICE OF CUSTOMS VALUATION METHODS IN DEVELOPING COUNTRIES." Business, Management and Education 8, no. 1 (December 20, 2010): 79–95. http://dx.doi.org/10.3846/bme.2010.06.

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For importers, the process of estimating the value of a product at customs presents problems that can be just as serious as the actual duty rate charged. The WTO agreement on customs valuation aims for a fair, uniform and neutral system for the valuation of goods for customs purposes – a system that conforms to commercial realities, and which outlaws the use of arbitrary or fictitious customs values. According to The World Bank, the lack of understanding of customs valuation and of its supporting procedures are two of the principal factors minimizing the efficiency of the customs administrations in many developing countries. In this context, the aim of this paper is to analyse the problems of customs valuation methods practice in developing countries. Many developing countries face serious difficulties in implementing the ACV.

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Saługa, Piotr W., Paweł Grzesiak, and Jacek Kamiński. "Valuation of Decision Flexibility and Strategic Value in Coal Gasification Projects with the Option-To-Switch between Different Outputs." Energies 13, no. 11 (June 2, 2020): 2826. http://dx.doi.org/10.3390/en13112826.

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Coal gasification has been promoted as a sophisticated clean energy technology alternative to coal burning these days. Aside from the usual technical difficulties, economic issues of such projects—especially valuation challenges—are important problems that practitioners usually struggle with. This is because of the major extent of managerial flexibility linked with specific characteristics of coal gasification projects, in particular, possibilities to mothball/restart manufacturing lines, or change between different outputs. The value of such flexibilities may be well assessed by real options valuations. The aim of this paper is to show that for the coal gasification technologies the real options valuation is more suitable than traditional discounted cash flow technique. This approach was applied to calculate an integrated plant that can produce either electricity or methanol. As the valuation approach the multiplicative stochastic process was used. As a consequence, binomial lattices of end-product (electricity and methanol) were developed. Then, in regard to them (reference instruments), two corresponding lattices of net cash flows (consecutive instruments) were created. In the end, two trees of switching option value were developed—one for electricity production as an initial mode, and the second for methanol production, delivering expanded net present (strategic) value.

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LEVIN, ALEXANDER. "ONE- AND MULTI-FACTOR VALUATION OF MORTGAGES: COMPUTATIONAL PROBLEMS AND SHORTCUTS." International Journal of Theoretical and Applied Finance 02, no. 04 (October 1999): 441–69. http://dx.doi.org/10.1142/s0219024999000224.

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A new valuation method is proposed that can be mathematically viewed as a numerical shortcut to approximately solve the partial differential equation written for Expected Instantaneous Return. The method derives OAS as "static spread plus cost of convexity" and is based on some simplified parametric assumption about the static spread's time behavior. The modeling and numerical procedure details are disclaimed with proven accuracy and time efficiency in option-adjusted valuation. The method is especially effective for multi-scenario pricing, portfolio pricing, risk management and reporting, and for quantifying the impact of "non-traded" factors on reward and risk of holding mortgages. A systematic methodology for comprehensive multi-factor analysis is covered.

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Laux, Judy. "Topics In Finance Part IV - Valuation." American Journal of Business Education (AJBE) 3, no. 9 (September 1, 2010): 1–6. http://dx.doi.org/10.19030/ajbe.v3i9.473.

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This article looks at security valuation from the perspective of the financial manager, accenting the relationships to stockholder wealth maximization (SWM), risk and return, and potential agency problems. It also covers some of the pertinent literature related to how investors and creditors price the stocks and bonds of corporations.

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Arbidane, Iluta, and Anita Puzule. "PROBLEMS AND SOLUTIONS FOR LEASE VALUATION AND ACCOUNTING IN LATVIA." Scientific Journal of Polonia University 33, no. 2 (April 3, 2019): 11–18. http://dx.doi.org/10.23856/3301.

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In the legislation of the Republic of Latvia, leasing transaction accounting complies with the provisions no. 17 of the International Accounting Standard "Leasing", which expired on January 1, 2019. The problem for the lessee in the accounting of leasing transactions is also the introduction of a new standard for companies that prepare annual financial reports in accordance with the requirements of international accounting standards. The aim of the study is to examine accounting problems and assess leasing transactions in Latvia and offer solutions. The study examined the justification for the assessment and accounting of leasing transactions in line with international accounting standards and identified issues of assessment and reporting in Latvia, possible solutions to improve the quality of leasing transactions have been worked out, offering necessary changes in legislation and revision of methodological documents.

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Smolyak, S. A., S. N. Zakirov, I. M. Indrupskiy, M. S. Rozman, E. S. Zakirov, and D. P. Anikeev. "Urgent Problems of Valuation of Recoverable Oil and Gas Reserves." Herald of the Russian Academy of Sciences 88, no. 1 (January 2018): 15–27. http://dx.doi.org/10.1134/s1019331618010057.

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Knetsch, Jack L. "Environmental Valuation: Some Problems of Wrong Questions and Misleading Answers." Environmental Values 3, no. 4 (November 1, 1994): 351–68. http://dx.doi.org/10.3197/096327194776679629.

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Bakken, Silje Anderdal, Kim Moeller, and Sveinung Sandberg. "Coordination problems in cryptomarkets: Changes in cooperation, competition and valuation." European Journal of Criminology 15, no. 4 (December 24, 2017): 442–60. http://dx.doi.org/10.1177/1477370817749177.

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The new drug markets emerging on the dark net have reduced earlier drug market risk factors such as visibility and violence. This study uses economic sociology and transaction cost economics to broaden the present understanding of cryptomarkets. Results focus on three coordination problems characterizing illegal markets and how they are alleviated in cryptomarkets. More information and better visibility increase competition, the feedback system enforces cooperation and border control introduces a new cost influencing valuation. Cryptomarkets are formally structured and regulated by rules of conduct and centralized decisions. We argue that the online context circumvents earlier coordination problems in illegal markets, making dark net markets more structurally efficient compared with conventional drug markets.

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Brandão, Luiz E., James S. Dyer, and Warren J. Hahn. "Using Binomial Decision Trees to Solve Real-Option Valuation Problems." Decision Analysis 2, no. 2 (June 2005): 69–88. http://dx.doi.org/10.1287/deca.1050.0040.

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Maor, Moshe. "Policy entrepreneurs in policy valuation processes: The case of the Coalition for Environmentally Responsible Economies." Environment and Planning C: Politics and Space 35, no. 8 (March 31, 2017): 1401–17. http://dx.doi.org/10.1177/2399654417700629.

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Policy problems and solutions are frequently loaded with moral, emotional and cost-effectiveness components as well as with other ideational and symbolic elements in order to provide them with, or deprive them of, significance. Skillful policy entrepreneurs are key actors in this valuation process which results in policy problems and solutions becoming valued, overvalued or undervalued. Drawing on insights from the sociology of valuation, this article distinguishes between four types of policy entrepreneurs – defined by the particular strategies they pursue – that may be involved in this process: norm entrepreneurs, reputation entrepreneurs, meaning entrepreneurs and standards and performance metrics entrepreneurs. The article elaborates on the role of these actors in the policy valuation process and the interactive nature of their activities. It thereafter illustrates their activities by elaborating on the valuation strategies pursued by the Coalition for Environmentally Responsible Economies, which led several European governments to provide financial support for the Carbon Disclosure Project.

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MALASHEVSKYI, Mykola, Nataliia KUZIN, Alena PALAMAR, and Mariia MALANCHUK. "THE PROBLEMS OF SPATIAL ORDERING AND TAXATION OF AGRICULTURAL LANDS." Geodesy and cartography 43, no. 4 (December 21, 2017): 166–72. http://dx.doi.org/10.3846/20296991.2017.1412634.

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The problem of rationalizing the use of agricultural land is increasingly complicated in Ukraine. Today it has various aspects, the most important of which are technological, economic, organizational and environmental. That is why the level of use of land in Ukraine is now so critical that further land degradation potential in agriculture can have disastrous consequences. The objective of this paper is to study the economic effects of agricultural land use on example of Kyiv city. It is revealed that the problem of rational use and protection of agricultural land in Ukraine is deteriorating year by year. In today’s conditions, this manifests itself in various directions, among which, in our opinion, the deterioration of the ecological state as a result of irrational use. On examples of land plots of the Kyiv city, the procedure for calculating the normative monetary valuation of agricultural land as one of the main instruments for accompanying capital transactions has been considered. The information on the weak and strong sides of the objects of evaluation is shown, which allows to evaluate the effectiveness of its functioning, current, past and future costs and incomes, as well as development prospects, which as a result serves as the basis for making effective management decisions on the valuation object. According to the research results, which consists in changing the agricultural land purpose in Kyiv city, it was ascertained that the normative monetary valuation of these lands will increase over 6 billion UAH.

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MISHAN, E. J. "REFLECTIONS ON THE FOUNDATIONS OF ECONOMIC VALUATION." Singapore Economic Review 54, no. 04 (December 2009): 529–42. http://dx.doi.org/10.1142/s0217590809003495.

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This paper provides a brief review of the measures developed to achieve the goal of economic evaluation of public projects. The limitations of the Kaldor–Hicks criterion are highlighted and these issues lead to the development of the discounted present value (DPV) method and the compounded terminal value (CTV) method. However, the latter methods were not without problems. It is demonstrated that using DPV or CTV to evaluate certain public projects produces exorbitantly small DPVs or exorbitantly large CTVs, which would lead to a manifestly perverse ranking if adopted. A new method of evaluating these public projects, known loosely as the corrected equivalent present value method, is proposed to alleviate the problems of DPV and CTV.

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Doszyń, Mariusz. "Econometric Support of a Mass Valuation Process." Folia Oeconomica Stetinensia 20, no. 1 (June 1, 2020): 81–94. http://dx.doi.org/10.2478/foli-2020-0005.

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AbstractResearch background: The issues undertaken in the paper include the specification of an econometric model in real estate mass appraisal. Advantages and disadvantages of using econometric models in real estate mass appraisal are discussed.Purpose: The issue of aiding the valuation process with an econometric model based on the Szczecin algorithm of real estate mass appraisal is discussed in the paper. Such problems like multicollinearity, lack of coincidence and nonmonotonic influence of attributes are pointed out. Also, potential solutions to these problems are mentioned. Moreover, the paper features a discussion of cases in which econometric appraisal is not sufficient.Research methodology: The base for constructing an econometric model is the so-called Szczecin algorithm of real estate mass appraisal. Based on the algorithm, the econometric model was created to enable determining the impact of real estate attributes and location on their value.Results: problems related with specification, estimation and verification of the real estate mass appraisal econometric model are discussed in an empirical example.Novelty: A non-linear model is proposed, which features explanatory variables introduced into the model, and by taking into consideration the scale of their measurement. The proposed model, by introducing dummy variables, also account for the impact of a location, which significantly improves the fit to empirical values.

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Yang, Jian Ping, and Qing Bai. "Research of Real Estate Appraisal Based on GIS Technology." Advanced Materials Research 859 (December 2013): 562–65. http://dx.doi.org/10.4028/www.scientific.net/amr.859.562.

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With the continuous development of the real estate industry, the real estate valuation business volume increasing coverage, valuation of more extensive, therefore it has become increasingly difficult. This article mainly from the characteristics of the real estate valuation and the existing problems, study of the geographic information system (GIS) is applied to real estate evaluation system of the necessity and feasibility, and puts forward the main function of the GIS system of real estate appraisal module.

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YAMAZAKI, AKIRA. "ON VALUATION WITH STOCHASTIC PROPORTIONAL HAZARD MODELS IN FINANCE." International Journal of Theoretical and Applied Finance 16, no. 03 (May 2013): 1350017. http://dx.doi.org/10.1142/s0219024913500179.

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While the proportional hazard model is recognized to be statistically meaningful for analyzing and estimating financial event risks, the existing literature that analytically deals with the valuation problems is very limited. In this paper, adopting the proportional hazard model in continuous time setting, we provide an analytical treatment for the valuation problems. The derived formulas, which are based on the generalized Edgeworth expansion and give approximate solutions to the valuation problems, are widely useful for evaluating a variety of financial products such as corporate bonds, credit derivatives, mortgage-backed securities, saving accounts and time deposits. Furthermore, the formulas are applicable to the proportional hazard model having not only continuous processes (e.g., Gaussian, affine, and quadratic Gaussian processes) but also discontinuous processes (e.g., Lévy and time-changed Lévy processes) as stochastic covariates. Through numerical examples, it is demonstrated that very accurate values can be quickly obtained by the formulas such as a closed-form formula.

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