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Wilkinson, Sara, Hera Antoniades, and Dulani Halvitigala. "The future of the Australian valuation profession." Property Management 36, no. 3 (June 18, 2018): 333–44. http://dx.doi.org/10.1108/pm-04-2017-0026.
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PurposeValuers face significant challenges as processes become automated and the role evolves to data handling and processing. To survive and thrive, valuers must respond to a changing market. The purpose of this paper is to examine the issues, threats and challenges facing the Australian profession, though the issues are global.Design/methodology/approachThis qualitative research sought a deeper understanding of the threats, challenges and new areas of practice that Australian valuers were experiencing. A focus group approach was designed to collect data from practitioners in Sydney and Melbourne. The research aimed to identify new knowledge and skills for the future and emerging trends and practices.FindingsThe key issues, threats and challenges faced included increasing use of automated valuation models for low-risk residential valuations, valuers being unable to protect themselves against the banks, loss of control of the data and valuations. In total, 12 knowledge domains and skills required in the future were established and ten emerging trends and practices were identified.Research limitations/implicationsThe key limitations were that participants were from Melbourne and Sydney in Australia only and the focus is NSW and Victoria centric, although many participants have international work experience. There was an under representation of rural valuers, of small valuation firms, of young, recently joined or qualified valuers and females.Practical implicationsThe findings inform a manifesto for the future which sets out the practical implications for valuers and the professional body. This action plan sets the new knowledge domains, practices and trends that can be adopted by the profession and its members.Originality/valueThis is the original research and highlights some real threats, issues and challenges facing the Australian valuers. It complements work undertaken by legal and accounting professional bodies, which sense change affecting their membership and services. A manifesto for action has been outlined to address the changes that are coming and those already here.
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Namangale, Desmond, and Esther Chimalizeni. "Adoption of Automated Valuation Models in Malawi; Valuers' Perception." Journal of African Real Estate Research 6, no. 2 (July 26, 2022): 51–61. http://dx.doi.org/10.15641/jarer.v6i2.1008.
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Valuation profession is historically known for being more traditional and extensively uses traditional methods of valuation. Despite this, in the recent past, there have been strides to incorporate automated valuation methods (AVMs) in the valuation profession especially for rating, mortgages and revaluation purposes. This new approach, however, attracted controversy when it was piloted in one of the cities in Malawi. This study sought to explore property valuers’ perceptions on the adoption of AVM in rating valuation against the use of traditional methods of valuation. The researchers used a descriptive study design with qualitative data collection and analysis methods. Semi-structured interview guides were used to collect data on valuers' perceptions on AVM. A total of 20 in-depth interviews were conducted with professional valuers. The valuers were asked how they perceive AVM approach to rating valuation compared to the use of traditional methods of valuation in terms of its accuracy, reliability and easiness. Data was manually analysed using content analysis. The general perception of the valuers towards AVM was mixed. One school of thought gave AVM the benefit of doubt for future incorporation into the profession if modified to suit the local environment. On the other hand, AVM was considered as posing threat to the valuation profession since anyone may be deemed qualified to carry out property valuation. However, the valuers are of the perception that the models will never replace traditional methods of valuation, hence suggestions to incorporate AVM as a supplement to traditional methods of valuation so that the former is used as a verification and auditing tool for the latter.
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Plimmer, Frances, and Stuart Gronow. "The Valuation Profession in France." Journal of Property Valuation and Investment 9, no. 1 (January 1991): 52–58. http://dx.doi.org/10.1108/eum0000000003298.
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Newell, Graeme. "The Valuation Profession in Australia." Journal of Property Valuation and Investment 10, no. 4 (April 1992): 691–93. http://dx.doi.org/10.1108/14635789210031307.
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Małkowska, Uhruska, and Tomal. "Age and Experience versus Susceptibility to Client Pressure among Property Valuation Professionals—Implications for Rethinking Institutional Framework." Sustainability 11, no. 23 (November 28, 2019): 6759. http://dx.doi.org/10.3390/su11236759.
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This research deals with the problem of the client–valuer relationship, possibly resulting in valuation biases. It aims to identify the influence of age and professional experience, along with other specific factors, on the perception and susceptibility of valuation professionals to pressure exerted by clients during the valuation process. We hypothesize that susceptibility to pressure from clients is conditioned by a number of factors, among which age and work experience are of key importance. The analysis is based on information obtained in a survey among Polish valuers who are members of professional associations. We used the linear probability and logit models. The conclusions of the analysis allow us to take a critical look at the existing institutional framework of the valuation profession in Poland. Our recommendations for revising the system may provide insights on the evolution of the profession, especially in Central and Eastern European countries where it is relatively new.
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Currin, Brent, Nompilo Msibi, Tsebang Chuene, and Andre Kruger. "An investigation into the ethical standards and values of registered property valuers in South Africa." Journal of Economic and Financial Sciences 7, no. 3 (October 31, 2014): 853–70. http://dx.doi.org/10.4102/jef.v7i3.241.
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Ethical issues and standards of property professions are being scrutinised. To date, no research has been carried out on the ethical standards in the property valuation profession in South Africa. This research compared the content of codes of ethics and professional conduct of the South African property valuation profession to international standards, and investigated the ethical standards and moral values held by registered valuers in South Africa. A self-administered survey, administered to 611 professional and professional associate valuers, was used. It measured five constructs of unethical behaviour layered into a survey adapted from Hoyt, Wright and Croft (2002). No statistically significant differences were found between different demographic factors in the ethical beliefs of South African valuers. A literature review comparing South Africa’s codes of conduct with those in the United States of America, Australia and New Zealand showed that the standards of ethics and professional practice in South Africa are not in line with international standards. South African valuers appear to be ethical and resist external pressures which could lead to unethical behaviour.
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Abidoye, Rotimi Boluwatife, Ma Junge, Terence Y. M. Lam, Tunbosun Biodun Oyedokun, and Malvern Leonard Tipping. "Property valuation methods in practice: evidence from Australia." Property Management 37, no. 5 (October 21, 2019): 701–18. http://dx.doi.org/10.1108/pm-04-2019-0018.
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Purpose Improving valuation accuracy, especially for sale and acquisition purposes, remains one of the key targets of the global real estate research agenda. Among other recommendations, it has been argued that the use of technology-based advanced valuation methods can help to narrow the gap between asset valuations and actual sale prices. The purpose of this paper is to investigate the property valuation methods being adopted by Australian valuers and the factors influencing their level of awareness and adoption of the methods. Design/methodology/approach An online questionnaire survey was conducted to elicit information from valuers practising in Australia. They were asked to indicate their level of awareness and adoption of the different property valuation methods. Their response was analysed using frequency distribution, χ2 test and mean score ranking. Findings The results show that the traditional methods of valuation, namely, comparative, investment and residual, are the most adopted methods by the Australian valuers, while advanced valuation methods are seldom applied in practice. The results confirm that professional bodies, sector of practice and educational institutions are the three most important drivers of awareness and adoption of the advanced valuation methods. Practical implications There is a need for all the property valuation stakeholders to synergise and transform the property valuation practice in a bid to promote the awareness and adoption of advanced valuation methods, (e.g. hedonic pricing model, artificial neural network, expert system, fuzzy logic system, etc.) among valuers. These are all technology-based methods to improve the efficiency in the prediction process, and the valuer still needs to input reliable transaction data into the systems. Originality/value This study provides a fresh and most recent insight into the current property valuation methods adopted in practice by valuers practising in Australia. It identifies that the advanced valuation methods could supplement the traditional valuation methods to achieve good practice standard for improving the professional valuation practice in Australia so that the valuation profession can meet the industry’s expectations.
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Wilkinson, Sara, Dulani Halvitigala, and Hera Antoniades. "Educators, professional bodies and the future of the valuation profession." Property Management 36, no. 4 (August 20, 2018): 389–99. http://dx.doi.org/10.1108/pm-04-2017-0027.
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Purpose Valuers face significant challenges as valuation becomes automated and the role evolves from economic analysis to data handling and processing. The purpose of this paper is to identify new knowledge and skills Valuers will need in the future and the role of professional bodies and educators in meeting future challenges in Australia, although the issues are considered global. Design/methodology/approach This qualitative research sought a deeper understanding of the issues, threats, challenges, opportunities, new areas of practice and knowledge that Valuers were experiencing with a view to identifying the role of professional bodies, industry and educators to meet the challenges. A focus group approach was adopted to collect data from practitioners in Sydney and Melbourne. Findings The roles of the professional body the Australian Property Institute, industry/employers and educators to meet these future challenges were identified. Changes are required to degree programme content in respect of digital technologies and statistical knowledge and skills. Continuing professional development programmes are required to address knowledge and skills gaps in existing practitioners. Research limitations/implications In this study, key limitations were that focus group participants were from Melbourne and Sydney only, and the focus is NSW and Victoria centric, although many participants have international work experience. Overall there was under representation of rural Valuers, of small valuation firms, of young, recently joined or qualified Valuers and females. Originality/value This is original research and highlights some real threats, issues and challenges facing the Australian Valuers. It complements work undertaken by legal and accounting professional bodies who perceive change and uncertainty affecting membership and services. To address and where, appropriate, embrace the changes that are coming and those already here, a manifesto for action for educators and the professional body is established.
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Mooya, Manya Mainza. "The education and professional practice of valuers in South Africa: a critical review." Property Management 33, no. 3 (June 15, 2015): 245–74. http://dx.doi.org/10.1108/pm-04-2014-0021.
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Purpose – Uniquely among the built-environment professions in the country, professional valuers in South Africa until recently did not require to have a university degree. The vast majority of professional valuers therefore, especially at senior levels, hold the national diploma as the highest academic qualification. There is evidence to suggest that many regard this state of affairs as unsatisfactory. Given the foregoing, the purpose of this paper is to answer two interrelated questions, first, whether South African trained and educated valuers were “competent” and met industry standards, and, second, whether the South African valuation curriculum met international norms. Design/methodology/approach – Empirical data for the study were obtained by way of a survey of valuers registered on the South African Council of the Property Valuers Profession (SACPVP) database and a case study of the University of Cape Town’s valuation curriculum. The survey involved the mailing of an online questionnaire, using the “Survey Monkey platform”, to 2,062 individuals, representing the total population of valuers registered with the SACPVP, across all registration categories. A total of 324 individuals, or 15.7 per cent of the target population, responded to the survey. Findings – Results from the study on the first question showed that it was professional status and length of experience, rather than academic qualifications, which correlated with competence. In addition, the results suggest that there are grounds for concern regarding proficiency in at least some of the valuation methods across the board. Further, the study revealed significant levels of dissatisfaction amongst employers with the general competence of valuers under their supervision. On the second question, the study concludes that the South African valuation curriculum did not meet international norms in terms of certain criteria. Practical implications – The paper recommends a review of the South African valuation curriculum; to allow for a differentiation between the different academic levels, to facilitate a more conceptual approach at the higher levels, and to close the identified gaps in knowledge and skill-sets arising from both a deficient curriculum and a changing industry landscape. Originality/value – At a time when attempts are being made to improve standards in the South African valuation profession, the study makes a critical contribution, by identifying areas where the national curriculum is deficient, both in terms of industry requirements and relative to international norms.
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Fine, A. E. M., C. P. Headdon, T. W. Hewitson, C. M. Johnson, I. C. Lumsden, M. H. Maple, P. J. L. O'Keeffe, P. J. Pook, D. E. Purchase, and D. G. Robinson. "Proposals for the statutory basis of valuation of the liabilities of linked long-term insurance business." Journal of the Institute of Actuaries 115, no. 4 (December 1988): 555–630. http://dx.doi.org/10.1017/s0020268100042864.
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1.1 The background to the production of this paper is somewhat involved, but is necessary for an understanding of why it contains what it does. Readers who are familiar with recent developments in the valuation field may proceed straight to Section 2.1.2 Statutory valuations of long-term insurance business under the Insurance Companies Act 1982 (‘the Act’, which superseded the 1974 and 1981 Acts) and the Insurance Companies Regulations 1981 (‘the current Regulations’) have now been prepared by actuaries for some years. Similarly the guidance issued by the profession to Appointed Actuaries, specifically GN1 and GN8, has also remained substantially unchanged over that period. The time was opportune for valuation practice to be reviewed in the light of recent experience.
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Fine, A. E. M., C. P. Headdon, T. W. Hewitson, C. M. Johnson, I. C. Lumsden, M. H. Maple, P. J. L. O'Keeffe, P. J. Pook, D. E. Purchase, and D. G. Robinson. "Proposals for the Statutory Basis of Valuation of the Liabilities of Linked Long-Term Insurance Business." Transactions of the Faculty of Actuaries 41 (1987): 369–443. http://dx.doi.org/10.1017/s0071368600009848.
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1.1 The background to the production of this paper is somewhat involved, but is necessary for an understanding of why it contains what it does. Readers who are familiar with recent developments in the valuation field may proceed straight to Section 2.1.2 Statutory valuations of long-term insurance business under the Insurance Companies Act 1982 (“the Act”, which superseded the 1974 and 1981 Acts) and the Insurance Companies Regulations 1981 (“the current Regulations”) have now been prepared by actuaries for some years. Similarly the guidance issued by the profession to Appointed Actuaries, specifically GN1 and GN8, has also remained substantially unchanged over that period. The time was opportune for valuation practice to be reviewed in the light of recent experience.
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Warren-Myers, Georgia. "Sustainability – The Crucial Challenge for the Valuation Profession." Pacific Rim Property Research Journal 17, no. 4 (January 2011): 491–510. http://dx.doi.org/10.1080/14445921.2011.11104339.
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Aluko, Bioye Tajudeen. "ACCURACY OF AUCTION SALE VALUATIONS IN DISTRESSED BANK LENDING DECISIONS IN NIGERIA." Journal of Business Economics and Management 8, no. 3 (September 30, 2007): 225–33. http://dx.doi.org/10.3846/16111699.2007.9636172.
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Of all the sub‐sectors of the national economy, the banking industry and the property market have arguably been most severely affected by the current recession. Thus, the prevailing credit crunch in real estate finance and market conditions have implication for disposal and valuations of real estate for mortgage purposes. The study examined whether forced sale valuations of mortgage properties were a good proxy for their auction sale prices. Relevant data involving 67 auction sales of foreclosed residential property transactions together with their contemporaneous forced sale valuations were pooled together in Lagos Metropolis during the period 1994 to 2003 from sample of estate surveying and valuation/auctioneering firms, the lending institutions and the Nigeria Deport Insurance Corporation. The data obtained were analyzed with the aid of frequency distributions and multiple regression models. The study revealed, amongst others, that forced sale values are not good proxies for auction sale prices as against the conclusions of previous studies on accuracy of open market valuations either in Nigeria or other countries like UK, USA and Australia. The implications of the foregoing conclusions on the lending decisions and valuation profession in the country were further examined in the paper.
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Źróbek, Sabina, and Chris Grzesik. "Modern Challenges Facing the Valuation Profession and Allied University Education in Poland." Real Estate Management and Valuation 21, no. 1 (May 1, 2013): 14–18. http://dx.doi.org/10.2478/remav-2013-0002.
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Abstract The paper indentifies and synthesizes the observed changes in the role of the property valuer on the property market. The authors of this paper provide a perspective on the changes in the educational programs for valuers. The main challenge for valuation professionals lies in developing a deeper understanding of market globalization and better analytical skills, with a view to assessing accurate values. The educational system at the university level should encompass programmes which will prepare valuers for providing proper advice affecting important investment decisions of real estate market participants. They stress the role of international and national organizations in re-shaping the profile of the valuer. The current critical attitude towards the valuation profession has forced the European body representing valuers, namely The European Group of Valuers’ Associations (TEGoVA) to speed up the harmonisation of the valuation practice in order to forestall more rigorous control by the EU. In response to this, all the major internationally recognised standard setting bodies, such as the above-mentioned TEGoVA and The Royal Institution of Chartered Surveyors (RICS), are considering the need to add “risk analysis” to valuation reports. Such development should significantly affect future valuation educational and training programmes which will need to present a more holistic approach to real estate as an asset class.
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Ryska, J., and A. Valder. "Is valuation of property a real science?" Agricultural Economics (Zemědělská ekonomika) 52, No. 3 (February 17, 2012): 123–27. http://dx.doi.org/10.17221/5004-agricecon.
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The evaluation of property is one of the basic human professions that have accompanied the human race ever since money was first used. At the time of the formation of modern science, this discipline was not included among the economic sciences. The stipulation of the value of property was based not only on theoretical knowledge of the economics, knowledge of goods, technology, agriculture and law, but also practical skills, knowledge of markets and the art of correctly assessing the requirements of customers. This situation continued until the end of the last millennium, when the evaluation of property stood apart from official science and was presented as an activity that links science and art and for this reason it was not possible to include it among the scientific disciplines. There is given analysis of value and valuation of property. On the base of philosophical approach to value and process of valuation, it can be stated that Valuation is a science in terms which in modern science have meaning. This would enable surveyors to participate also in the promotion of their profession on the academic floor and thus have more influence on the general opinion of value and its influence on contemporary society.
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Kucharska-Stasiak, Ewa. "15 Myths about Market Value." Real Estate Management and Valuation 26, no. 3 (September 1, 2018): 113–21. http://dx.doi.org/10.2478/remav-2018-0030.
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Abstract Market value is one of the most difficult notions in economics. It is also one of the most puzzling in the valuation industry, although its definitions can be found in the International Valuation Standards, European Valuation Standards, RICS standards and national standards. This value tends to be given different interpretations and misconceptions surrounding it are shared by many members of the property valuer community. The many ways in which property market value is understood leads to misvaluations and significant variations between valuation results, which are damaging to the prestige of the property valuation profession. This article explores areas giving rise to the misinterpretations of property market value to provide a critical review of the existing views, and to put forward arguments explaining why they should be revised. To this end, a critical literature review and observations made by the author during discussions with valuation professionals taking skill-improvement courses, scientific conferences on valuation methodology and practice, and entry exams for the profession of property valuers are used. Three main areas conducive to the emergence of myths have been identified: the interpretation of property market value (four myths), the process of arriving at property market value (ten myths) and the interpretation of valuation results (one myth). The myths are challenged on the grounds of the market value concept and its interpretation as used in economics.
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Ayedun, C. A., O. A. Akinjare, E. Omodo, and R. K. Alimi. "Geographical Information System (GIS) Application to Property Valuation Practices in Port Harcourt Metropolis of Rivers State, Nigeria." Journal of International Cooperation and Development 5, no. 1 (May 5, 2022): 19. http://dx.doi.org/10.36941/jicd-2022-0002.
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Technology has in the recent years been vehicle for improving effectiveness and precision by different professions in an attempt to achieving the best practice by these professions. One of such technologies which can employ to aid Estate Surveying and Valuation practice is Geographical Information System (GIS). Valuation of properties including real estate and other assets have often been carried out through the application of manual methods which is often found to be cumbersome and sometimes not producing accurate and reliable results. It is in realization of the inherent deficiency entailed in the application of manual approach in carrying out valuation that this study seeks to investigate the application of Geographic Information System (GIS) to the art of valuation practice in Nigeria using Port Harcourt Metropolis of Rivers State as a case study with a view to ascertaining its inherent benefits to valuation practice. To achieve the aim of the study, questionnaires were administered to seventy-four (74) estate surveying and valuation firms randomly selected in the study area. Presentation and analysis of data was done using mean and relative important index. Finding from the study revealed that estate surveyors and valuer are quite aware of the inherent benefits of the geographical information system (GIS) to property valuation, but only very few of the Estate Surveying and Valuation firms make use of it in their valuation practice. The study further revealed that majority of the Estate Surveying and Valuation firms were willing to adopt its use if only they could gain better understanding of its application to valuation practice as its application is bound to having positive effect on the practice of Estate Surveying and Valuation profession. Based on the findings, the study recommends that training should be held to equip estate surveyors and valuers with the required skills for the application of geographical information system (GIS) since empirical research has shown that it has potential of enhancing valuation practices.
Received: 14 December 2021 / Accepted: 20 March 2022 / Published: 5 May 2022
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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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Warren-Myers, Georgia. "Valuing Sustainability in Australia: Implications for the Valuation Profession." Pacific Rim Property Research Journal 18, no. 2 (January 2012): 163–79. http://dx.doi.org/10.1080/14445921.2012.11104357.
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Babawale, Gabriel Kayode, and Titilayo Ukabam. "A Valuation Framework for Assessing Compensation Arising from Oil Spills in the Niger Delta Area of Nigeria." Built Environment Journal 16, no. 2 (July 31, 2019): 43. http://dx.doi.org/10.24191/bej.v16i2.9695.
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Both empirical and anecdotal evidences suggest that valuers in the study area do not generally follow appropriate valuation procedure particularly when assessing compensation for environmental pollution arising from oil spills. This abuse of the valuation process, according to a number of extant studies, is largely responsible for widespread incoherent, inconsistent and controversial compensation assessment with its numerous potential socio-economic repercussions for a nation that oil revenue is her economic mainstay. This study is based exclusively on secondary data drawn from results of extant studies, valuation reports, relevant statutes and civil laws including several years of experience of one of the authors as expert witnesses in cases relating to compensation for oil spills in the study area. The paper is particularly written in response to Babawale (2013) which observed certain fundamental procedural deficiencies in valuation for compensation with “potentially grave repercussion for the integrity and the future of the valuation profession in the study area.” To redress the observed deficiencies and save the profession from further embarrassment, the study provides practitioners with an institutional perspective; a purpose-designed procedural framework that reflects and addresses the peculiarities of valuation for compensation for oil spills. Besides contributing to the recurrent debate on the vexed subject of compensation for oil spills and filling up part of the apparent wide gap presently existing in the body of knowledge particularly in Nigeria, the eight-step valuation process proffered is expected to boost valuers’ confidence and improve the reliability of valuation for compensation in the study area. The ultimate goal is overall improvement in the practice of valuation for compensation in the study area in particular, and Nigeria as a whole. This is expected to minimize the costs of protracted court cases including the contention and restiveness that is often associated with compensation matters in the study area. Keywords: compensation, oil spills, Nigeria, valuation process.
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Aluko, Bioye Tajudeen. "IMPLICATIONS OF THE CURRENT TREND IN MORTGAGE VALUATION PRACTICE IN NIGERIA." International Journal of Strategic Property Management 11, no. 1 (March 31, 2007): 17–31. http://dx.doi.org/10.3846/1648715x.2007.9637558.
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The emerging concern on the reliability of property valuations coupled with the attendant consequences of growing number of distressed banks in Nigeria necessitate this study. Therefore, the study examined the mortgage valuation process including sources of valuation instructions, bases and methods being adopted and their implications on lending decisions and valuation profession in the study area. To accomplish the study, questionnaires were randomly administered on samples of estate surveying and valuation firms and lending institutions respectively in Lagos Metropolis. The data emanating there from were analysed using frequency distributions, ranking mean and relative important index ranking. The study, prima facie, established that mortgage valuation has been an important input in lending decisions. It further showed the implications of the blind adoption of the cost approach, inconsistency amongst valuers and non ‐ inclusion of insurance valuation in the mortgage valuation process. Būsto paskolų vertinimas Nigerijoje: esamų tendencijų prasmė Santrauka Ši tyrimą paskatino didėjantis rūpestis dėl nekilnojamojo turto vertinimu variantiškumo bei tikslumo ir nuskurdusiu Nigerijos banku sukelti padariniai. Kadangi, priimant sprendimą suteikti paskola, vertinti ja būtina, tyrimo išvados galbūt padėtu ieškoti politiniu sprendimu dėlnesuvaldomo banku žlugimo šalyje. Todėl darbe nustatyta ir ištirta būsto paskolų vertinimo svarba, įskaitant vertinimo instrukcijų šaltiniu, pagrindu ir taikomu metodu reikšme, nagrinėtas būsto paskolų vertinimas, priimat sprendimus suteikti paskola, ir vertintojo profesija šioje srityje. Anketomis ir pokalbiu metu apklaustos 59 atsitiktine tvarka atrinktos turto tikrinimo bei vertinimo firmos (iš 146 aktyviai veikiančiu; iš viso yra 239 tokio pobūdžio firmos) ir 42 skolinančios institucijos iš 89, veikiančiu Lagose. Gauti duomenys išanalizuoti skaičiuojant pasiskirstymą, garantavimas ir santykines svarbos indeksą. Tyrimu nustatyta, kad teikiamas paskolas vertinti yra svarbu. Tolesne analize parodę, kad į būsto paskolų vertinimąneįeina draudimo vertinimas, aklai pasirenkamas sąnaudųaspektas ir vertintoju nuomones dėl būsto paskolų skiriasi. Tai, kas išdėstyta, skirta vertintojams, skolintojams arba kitiems vertinimo paslaugu vartotojams ir turto rinkai apskritai.
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Mukhlynina, Lilia, and Kjell G. Nyborg. "The Choice of Valuation Techniques in Practice: Education Versus Profession." Critical Finance Review 9, no. 1-2 (2020): 201–65. http://dx.doi.org/10.1561/104.00000088.
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Horne, Margaret. "Competitive Intelligence in the business valuation profession: A case study." Competitive Intelligence Review 10, no. 3 (1999): 33–42. http://dx.doi.org/10.1002/(sici)1520-6386(199933)10:3<33::aid-cir6>3.0.co;2-c.
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Thanh Le, Tu, and Georgia Warren-Myers. "An examination of sustainability reporting in valuation practice." Property Management 37, no. 1 (February 18, 2019): 136–53. http://dx.doi.org/10.1108/pm-02-2018-0016.
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PurposeThe importance of sustainability in the property industry is well recognised, and many studies have proved the existence of sustainability premiums in real estate markets. Valuers play the most pivotal role in reflecting the market, however despite the efforts of both academic and professional bodies to improve valuer knowledge and perceptions of sustainability there remains significant limitation of consideration of sustainability in valuation within the profession. The purpose of this paper is to investigate valuation practice through examining institutional grade commercial valuers’ approaches and consideration of sustainability in valuation.Design/methodology/approachThis research used a case study approach and interviewed institutional grade commercial valuers in Melbourne, Australia, exploring their consideration of sustainability in their valuation reports for commercial properties. A semi-structured interview technique was utilised with responses using qualitative content analysis that investigated the processes used, knowledge and incorporation of sustainability in valuation practice.FindingsThe study has found substantial limitations in the incorporation of sustainability in property valuation in Melbourne’s real estate market, comprising valuers’ limited knowledge, reluctance to consider sustainability in the valuation process, poor verification or investigation of sustainability considerations, client instructions did not direct valuers to consider sustainability, lack of data and limited tools for detailed analysis.Research limitations/implicationsAlthough a small sample, the data redundancy found in this research suggests a level of consensus on certain aspects of practice within the sector in Melbourne. This corroborates similar findings from a large-scale study of valuers and property professionals in Europe and the UK (Michlet al.2016).Practical implicationsThere is urgent need for more education and direction in the consideration and incorporation of sustainability in valuation for valuers. Enhancing the enforcement of guidelines from professional bodies is also crucial in order to deepen the analysis of sustainability in property valuation.Originality/valueThe research has provided an in-depth perspective of valuation practice in the commercial sector, that identifies and expands on the barriers in regard to limited incorporation of sustainability in property valuation reports, physical reporting, comparative analysis and depth of discussion. Further, it highlights the limited consideration of guidance notes in regard to sustainability from professional bodies.
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Tajudeen, Aluko Bioye, and Olaleye Abel. "UNITIZATION AND SECURITIZATION OF PROPERTY INVESTMENT: IMPLICATIONS FOR FUTURE VALUATION." Journal of Business Economics and Management 6, no. 3 (September 30, 2005): 125–34. http://dx.doi.org/10.3846/16111699.2005.9636101.
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Property investments are now mobile, being tradable securities or listed units (vehicles) comparable to stocks/ shares in the financial market. Hence, the need for valuation to be a counterpart to investment and security analysis. But, current valuation practice in the country has not placed property in a wider economy and the analytical techniques of other markets. The paper therefore demonstrates how current valuation techniques in the property market can meet the needs of investors for listed or tradeable property assets in the country. It also examines the implications on the valuation profession as well as the attendant consequences that are likely to be associated with the quest for change. The study utilizes data from both the Nigerian property and capital markets using simple descriptive, non‐statistical, techniques.
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Uhruska, Małgorzata, and Agnieszka Małkowska. "The Impact of COVID-19 on the Work of Property Valuers: A Glance at the Polish State of Play." Journal of Risk and Financial Management 14, no. 8 (August 16, 2021): 378. http://dx.doi.org/10.3390/jrfm14080378.
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This article presents how the COVID-19 pandemic affected the valuation profession in Poland in the early stages of its most severe restrictions and limitations. This study is the first to investigate the impact of COVID-19 on the professional activities of property valuers. In particular, it aims to identify the difficulties associated with valuers’ activities during the first lockdown and the impact of restrictions on business performance. The data analyzed come from a survey of Polish valuers in September 2020. The questions were of a closed-ended nature. Using a five-point Likert scale, respondents expressed their opinions on the difficulties and benefits of their work in the first COVID-19 period. The results show that the respondents experienced difficulties related to the pandemic and noted its negative impact on business performance. The most significant problem was the limited access to public institutions supporting the valuation process and providing market data on real estate transactions. The respondents also indicated other problems related to property valuation, as well as some positive effects for their business.
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Hairs, C. J., D. J. Belsham, N. M. Bryson, C. M. George, D. J. P. Hare, D. A. Smith, and S. Thompson. "Fair Valuation of Liabilities." British Actuarial Journal 8, no. 2 (June 1, 2002): 203–99. http://dx.doi.org/10.1017/s135732170000372x.
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ABSTRACTA project to develop an Accounting Standard for Insurance, with the aim of enhancing understandability, relevance, reliability and comparability of general purpose financial reporting for insurance worldwide, is being progressed by the International Accounting Standards Board. The basis of the proposals is that assets and liabilities be shown at fair values (market values for quoted instruments). This paper, prepared by a Working Party established by the Life Board of the United Kingdom actuarial profession, summarises and comments upon a number of the principal features of the proposals, as they have emerged up to September 2001. The paper goes on to consider how a system of reporting for prudential regulatory purposes might be built upon a fair value general reporting base, summarising the thinking of a number of other bodies, proposing certain principles and suggesting lines of development. The appendices to the paper discuss a number of issues in further depth and present some illustrative results of some investigations into applying fair value methods in practice. The emphasis of the paper is on reporting for life assurance business, although many of the principles apply equally to general insurance.
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Munshifwa, Ephraim K. "An Investigation Into the Use of “Hybrid” Adjustment Techniques in the Application of the Sales Comparison Method in Residential Valuation." Real Estate Management and Valuation 29, no. 1 (March 1, 2021): 1–11. http://dx.doi.org/10.2478/remav-2021-0001.
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Abstract The sales comparison is the most common and universally accepted method in valuation. Although the theoretical entry point of the method is the same across most continents, its application in practice is varied and often determined by local circumstances. This often necessitates the modification of the method. For instance, while Zambian valuation practice uses this method in residential valuation, its application goes beyond the basic valuation model, incorporating a less known technique called the “reduced floor area (RFA)” technique. The RFA technique is a form of relative importance (weight) concept which assesses ancillary buildings on site relative to the main use; for residential properties this is the main house on site. Despite its obscurity in valuation literature, practitioners find its use acceptable within the dictates of local circumstances. Nonetheless, the lack of documentation means knowledge on the technique is transmitted verbally from senior valuers to graduates, and its application is not consistent across the profession, contributing to variances in the assessed values. This necessitates detailed scrutiny of the technique. Data for the study was collected from the Valuation Surveyors Registration Board (VSRB), a statutory body responsible for licensing valuers and regulating valuation practice. This is the first time the RFA technique is being discussed in a scholarly article.
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Suvarnadhada, Pabhagorn. "Competencies of Property Valuers in Thailand." Journal of Architectural/Planning Research and Studies (JARS) 10, no. 2 (August 7, 2022): 103–14. http://dx.doi.org/10.56261/jars.v10i2.16831.
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The objectives of this research were to determine the component of the competencies of propertyvaluers in Thailand and to test the validity of the structure equation model of the competencies of propertyvaluers in Thailand with the empirical data. The sample consisted of 200 senior professional valuers. The instrumentemployed in this research was the questionnaires concerning the competencies. The data were analyzedby Confirmatory Factor Analysis. The test of the structural validity test of the competency model indicated thatthe secondary order confirmatory factor analysis of the competency of property valuers in Thailand model wereconsistent with empirical data significantly. The competency of property valuers in Thailand model were thetwo components of the competency of the property valuers in Thailand consisted of 1) core competency and2) functional competency. The five components of the core competency of the property valuers consisted ofสมรรถนะของนักประเมินมูลค่าทรัพย์สินในประเทศไทยCompetencies of Property Valuers in Thailandปภากร สุวรรณธาดาPabhagorn Suvarnadhadaบัณฑิตวิทยาลัย มหาวิทยาลัยคริสเตียน จังหวัดนครปฐม 73000Graduate School, Christian University of Thailand, Nakhonpathom, 73000, ThailandE-mail: pabhagorn@gmail.com104 JARS 10(2). 20131) Achievement Orientation, 2) Self Management, 3) Property Valuation Ethics, 4) Creative Problem Solving and5) Service and Organizational Awareness. The four components of the functional competency of the propertyvaluers consisted of 1) Property Valuation Supporting Knowledge, 2) Professional Proficiency, 3) ValuationActivity Management and 4) Real Estate Market Perception. The competencies of the property valuers inThailand could be used to develop property valuation industrial and profession, used to increase performanceof the property valuers in organizational and used to be the model to develop the property valuers who wantto certify senior professional valuer in the future.
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Smith, V. Kerry. "Some Issues in Discrete Response Contingent Valuation Studies." Northeastern Journal of Agricultural and Resource Economics 14, no. 1 (April 1985): 1–4. http://dx.doi.org/10.1017/s0899367x00000696.
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The use of survey or contingent valuation methods to estimate an individual's valuation of non-marketed goods, especially environmental resources, has attracted increasing attention in recent years. Initially, research efforts in this area were viewed by a majority of the economics profession with considerable skepticism. However, with the increased need for information on individuals’ valuation of a whole range of environmental resources and limitations on the ability of indirect market-based methods for valuing all of these resources, there has been a substantial increase in the use of contingent valuation methods to provide this information. Indeed, a recent state-of-the-art assessment (see Cummings et al. [1984]) of the contingent valuation method (CVM) has been able to develop a set of reference operating conditions under which it was reasonable to expect the CVM approach would yield estimates with accuracy that was approximately comparable to the indirect methods. Clearly the definition of these conditions is a judgmental one. Nonetheless, it was based on a substantial number of comparative studies evaluating the relationship between CVM and indirect market estimates of the benefits associated with changes in specific environmental resources. Moreover, it does reflect the changing attitude toward the CVM approach. It is therefore particularly appropriate to consider new directions in the development of the contingent valuation method.
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Ryska, J., and A. Valder. "Fair value in financial accounting." Agricultural Economics (Zemědělská ekonomika) 49, No. 11 (March 2, 2012): 526–32. http://dx.doi.org/10.17221/5442-agricecon.
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By progression of the expanding use of the International Accounting Standards, fair value is being pushed ahead instead of standard historical costs. The extension of the International Accounting Standards for financial instruments and long-term assets leads to the publishing of real net income of the enterprise. The necessity to express the fair values of assets for accountancy places specialists of this profession in a new position of professionals having a common language with investors. This trend started deepening when the International Valuation Standards Committee began to co-operate with the International Accounting Standards Committee more closely. This caused the harmonization of basic terms used for valuation of property.
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Ciuhureanu, Alina. "The Continuous Professional Development of Accounting Professionals and the Impact on the Valuation of Accounting Information." Scientific Bulletin 27, no. 2 (December 1, 2022): 93–101. http://dx.doi.org/10.2478/bsaft-2022-0011.
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Abstract In the accounting profession, continuous professional development and lifelong learning are essential if we consider the increasingly advanced demands of internal and external users of financial and accounting information. It is certain that professionals who do not have and do not constantly update their necessary general and specialized knowledge will no longer find their place in an increasingly competitive market. The paper highlights, based on bibliographic resources, the fact that national and international professional bodies implement training and professional development programs in accordance with the “International Education Standards” issued by the “International Accounting Education Standards Board”, an independent organization within the “International Federation of Accountants”. Using the selective research, we analyzed the interest of accounting professionals to develop professionally considering the need for continuous training in the conditions where accounting information is indispensable in the decision making process and the financial – accounting field is one that is constantly changing.
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Hajdu, Miklós, and István Hajnal. "Market Evaluation of Museum Buildings." Periodica Polytechnica Architecture 49, no. 1 (June 29, 2018): 59–65. http://dx.doi.org/10.3311/ppar.12736.
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One of the less explored areas in the profession of property valuation is the assessment of the market value of publicly owned or used properties (such as roads, public utilities, parks or prisons). In particular, the “quasi-market” segment, which partly operates according to market mechanisms, is the most challenging point. Hospitals, theatres and museums are examples of such “quasi-market” public properties. Those projects have some market revenues; however, these are not enough to provide a return on the invested capital. Advanced methods of decision-support and analysis have been developed regarding public investments, and the modern technical literature studies the measurement of consumers’ willingness to pay (WTP) intensively. Adopting these foundations for a museum building, authors proposes a framework which follows the logic of market valuation and facilitates the Market Value appraisal of “quasi-market” properties based on uniform principles. This is an extended version of article titled as “Model for the market valuation of public, “quasi-market” properties, using the valuation of a museum building as an example”, presented at Creative Construction Conference 2017, CCC 2017, 19-22 June 2017, Primosten, Croatia.
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Maas, Harro. "Politicizing the Environment." History of Political Economy 53, no. 6 (August 26, 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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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 (August 13, 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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Wulakada, Hamza H., Agus A. Nalle, Fred L. Benu, and Melkianus Tiro. "Economic Valuation of the Komodo National Park West Manggarai Regency, East Nusa Tenggara." International Journal of Multicultural and Multireligious Understanding 7, no. 5 (July 3, 2020): 628. http://dx.doi.org/10.18415/ijmmu.v7i5.1624.
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The study aims to determine the economic value of Komodo National Park (KNP) is an important information for the community and the government, so that area development policy should still consider the possibility of preservation and sustainability. The breakdown was done by descriptive qualitative and quantitative approach with the method of linear regression analysis. While it is to know the economic value of the attractions the KNP approximated by calculating the value of consumer surplus. The results showed that the factor of the cost of the trip, age of travelers, professional backgrounds and income levels have a significant influence on the level of tourist visits to the KNP. The cost of the trip and the age of the negative effect, while the background of the profession and the level of income give effect to a positive against the rate of tourist visits to the KNP. The Total value of the economic attractions of the KNP is estimated at IDR 60,358,019,952,567,-. Economic value this is the value potential that can be achieved if the management can still be maintained.
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Muzio, Daniel, and James Faulconbridge. "Legitimacy, Financialization and Valuation Devices: The Case of PEP in the English Legal Profession." Academy of Management Proceedings 2019, no. 1 (August 1, 2019): 10040. http://dx.doi.org/10.5465/ambpp.2019.10040abstract.
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Tugui, Alexandru, Daniela Tatiana Agheorghiesei, and Laura Asandului. "An Informal Ethics Auditing in Authorized Valuation for Business Sustainability in Romania." Sustainability 12, no. 20 (October 16, 2020): 8562. http://dx.doi.org/10.3390/su12208562.
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This study presents the results of an extensive exploratory research on ethics in valuation activity carried out by authorized valuers in Romania. Ethics is the foundation of success and sustainability in business. In turn, business sustainability is the mirror of the social responsibility assumed, the effort to ensure the sustainability of society. The goal of this study is broad and consists of investigating the position of authorized valuers in Romania in relation to the level of ethics achieved in the activity carried out with reference to expressing their professional opinion from the perspective of general concern for ethics. Our quantitative exploratory research consists of conducting a nationwide survey on a valid sample of 558 authorized valuer respondents. The main conclusions clearly highlight that the valuer faces external pressures—the influence from the clients’ side, and, in the face of this challenge, personal reputation and social responsibility are criteria in the ethical decision. The results of this research invite all stakeholders to take a reflective approach regarding the coordinates of the valuer’s personal ethics and the support mechanisms that provide it, in order to ensure the sustainability of his activity, to the benefit of the profession, the business and the entire society.
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Bellman, Lina, and Peter Öhman. "Authorised property appraisers’ perceptions of commercial property valuation." Journal of Property Investment & Finance 34, no. 3 (April 4, 2016): 225–48. http://dx.doi.org/10.1108/jpif-08-2015-0061.
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Purpose – The purpose of this paper is to describe and analyze the thought patterns of authorized property appraisers (APAs) when valuing commercial properties, and draw conclusions about their collective thinking in terms of content, complexity, and homogeneity. Design/methodology/approach – A standard set of value-adding factors and bipolar constructs was included in a grid form used for data collection. The repertory grid technique and principal component analysis were used to map and analyze the thought patterns of nearly half of the APAs in Sweden. Findings – Analysis of the mean grid for all respondents revealed three dimensions in the aggregated APA thought pattern: property object – property market focus, abstract – specific information, and expert – superficial assessments. The aggregated thought pattern was found to be moderately complex, and the APAs demonstrated relatively strong homogeneity in their thought patterns. Practical implications – Based on the moderate complexity and relatively strong homogeneity in respondent thought patterns, this study discusses the upcoming establishment of a profession. Originality/value – To the authors’ best knowledge, this is the first study using the repertory grid technique to map and analyze APA thought patterns at an aggregated level.
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Warren-Myers, Georgia. "Sustainability evolution in the Australian property market." Journal of Property Investment & Finance 34, no. 6 (September 5, 2016): 578–601. http://dx.doi.org/10.1108/jpif-04-2016-0025.
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Purpose The relationship between sustainability and value in property has been a major area of investigation over the past decade. However, in spite of the extant literature and research, the connections made by valuers in practice of the value relationship are still unresolved. The purpose of this paper is to investigate, in the Australian context, valuers’ perception of the relationship between sustainability and value; and their experience and knowledge of sustainability in valuation practice. Design/methodology/approach The research investigates valuers’ perception and knowledge of sustainability and its inclusion in valuation practice in Australia. The approach uses a longitudinal survey of valuers from 2007 to 2015 tracking valuers’ knowledge, understanding, inclusion of sustainability reporting and the perceptions of the relationship between sustainability and market value. Findings This paper presents findings from a longitudinal survey that has been conducted in Australia since 2007, identifying changes between 2007, the height of the property market and sustainability engagement prior to the global financial crisis, and the subsequent years to 2015. The growth of sustainability in the property market is significant, however, valuers’ knowledge and reporting on sustainability is not demonstrating the same level of development. As a result, this is inhibiting valuers reporting on sustainability and has implications for practice and treatment of market values. Practical implications This research highlights the need to examine how to assist valuers to more rapidly develop knowledge and experience to reflect the implications of change in practice. Current approaches being developed in the UK and Europe, like the introduction of RenoValue professional development programs and guidance documents, to assist valuers to develop their knowledge needs to be implemented in the Australian environment as current approaches are inadequate, and steps need to be taken in order to assist their development of knowledge and experience as the market demonstrates growth and acceptance of sustainability. This research identifies the need to re-examine how professional development is undertaken and knowledge developed by those practicing in the profession in Australia. Originality/value This longitudinal survey is the only research that has spanned a substantial period of time attempting to ascertain valuers’ perception of the relationship between sustainability and value; and attempts to track the knowledge development of valuers in the context of sustainability. The findings identify how the market is developing and adhering to a product model development theory, however, also identifies more fundamental issues and implications for valuation praxis, in the development of knowledge and ability of valuers to adapt to change and reflect these valuations.
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Okoronkwo, Chikezie, Esther Oladejo, and Okoronkwo Henry. "HOTEL PROPERTY VALUATION IN A PANDEMIC ECONOMY: A STRATEGIC STUDY OF IMO CONCORDE HOTEL OWERRI IN 2020." International Journal of Innovative Research in Arts, Education and Technology 2, no. 1 (January 5, 2021): 22–31. http://dx.doi.org/10.48028/iiprds/ijiraet.v2.i1.03.
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Of all classes of real estate, the hotel property is so unique in character and structure that assigning a value becomes the most intriguing aspect of the profession of Estate Surveying and Valuation. The uniqueness of the property rests partly on its distinctive outlay as against the business potential. Incidentally, most valuations of this property rely on the propensity of the property to produce acceptable returns to pay off the cost of investment and the management. Being that as it may, the quantum of externalities that play varying roles in shaping the final value of a hotel property is such that any professional must be careful not to circumvent even the minutest of considerations. It is all too known that the value of real estate rises and falls with the character of the neighbourhood and region where it is located. Hotels values are not different and in addition rise and fall with the whim of fashion and the fortunes of the region of location. This study examined not just the different methods and approaches to the valuation of a hotel property but also explored the benefits of other micro economic parameters that play significant roles in establishing the basis of any monetary index that could be referred to as value by conducting a comprehensive review of the hotel itself in comparison with its competitive market to confirm whether the hotel is under- or over performing against its competitors the intention being to have a grasp of the income-generating ability of the property upon which the application of a capitalization rate will convert the estimated cash flows into an estimated value. Though a 5 star hotel was used as case study, the outcome is applicable to all hotels carrying on business in Nigeria and other parts of the world. The study recommends among others that Estate Surveyors and Valuers involved in the valuation of hotels need to be skilled in reading financial statements and translating them into stabilized net-operating income because as much as hotel properties are physically different, in different locations, and with different management; volatility of the hospitality market and the external factors are bound to affect value. The study revealed that in so much as the travel patterns of lodgers were affected by the Covid 19 pandemic bringing with it a crash in the income-generating potential, the value of hotels was not so affected especially with relation to furniture, fittings and equipment.
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Ellsworth, Richard K. "Survivor Curve Selection and Customer Relationship Value." Business Valuation Review 26, no. 4 (January 1, 2007): 102–5. http://dx.doi.org/10.5791/0882-2875-26.4.102.
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Abstract The valuation profession employs a variety of statistical techniques, from simple attrition analysis to more complex retirement rate analysis, to assess customer population life characteristics. For many customer populations, the account survival characteristics are assumed to be constant across the various age cohorts of the population such that customer relationship value is indifferent to account age. However, relaxation of the constant attrition rate characteristic can have a direct influence on the magnitude of the value ascribed to the customer relationship value.
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Robison, Wade. "Understanding Cases within Professions." Teaching Ethics 18, no. 2 (2018): 127–47. http://dx.doi.org/10.5840/tej201910263.
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It seems commonly assumed that presenting data is value-neutral. The data is what it is, and it is for those assessing it to make judgments of value. So a chart of earnings just tells us what a company has earned. The chart does not tell us whether the earnings are a good or bad sign. That valuation is to be made by those looking at the chart and is independent of the chart itself. This view of the relation between presentations of data and value judgments is mistaken. Presentations are value-laden in at least two ways. How we choose to represent data is itself an ethically loaded value-judgment, and, second, presentations cause responses, including value-laden judgments. We shall first look at how hard it can be to get inside a profession to be able to understand the problems those in that profession face so we can represent it properly. We shall then examine a case where a failure to understand the problem led to a mistaken moral judgment that has taken on a life of its own because of the power of how the problem is mistakenly presented.
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Arabomen, O. J., P. W. Chirwa, and F. D. Babalola. "Willingness-to-pay for Environmental Services Provided By Trees in Core and Fringe Areas of Benin City, Nigeria 1." International Forestry Review 21, no. 1 (March 1, 2019): 23–36. http://dx.doi.org/10.1505/146554819825863717.
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Economic valuation of environmental services has emerged as a new and more direct argument and incentive for protection of trees and sustenance of environmental quality. This study's aim was to estimate the monetary value for conservation of urban trees and environmental services in Benin City, Nigeria. A Contingent Valuation Method involving a survey of 350 residents was adopted for the study. Flooding and erosion control, scenic beauty, provision of shade and regulation of local temperature received positive rankings and high scores. Thus, an average of US$1.20/month, which yielded an aggregate value of US$1 200 000 to US$1 860 00, was the amount Benin City residents were willing to contribute towards the conservation of trees. This study identified profession, years of residency and indigenous knowledge of ES as significant predictors that can influence willingness-to-pay. The findings provided quantitative data to demonstrate the importance of conserving trees to town planners, forest managers, policy makers and the urban community.
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Hermans, Liesbeth, and Cathrine Gyldensted. "Elements of constructive journalism: Characteristics, practical application and audience valuation." Journalism 20, no. 4 (June 7, 2018): 535–51. http://dx.doi.org/10.1177/1464884918770537.
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This article begins by describing the recently created classifications of elements of constructive journalism and present examples of the media profession applying these elements. Constructive journalism draws on behavioural sciences, specifically positive psychology. From this, it is assumed that including constructive elements such as solution orientation, future orientation, depolarising techniques and seeking co-creation with the public contribute to the well-being of individuals as well as society. Following a public-oriented perspective, audience research is performed to understand how people value the incorporation of constructive elements in the news. Using an online survey, data were gathered from 3263 people in the Netherlands, aged 20–65. Results show an overall positive valuation, with some constructive elements appreciated more than others. Age, educational background and news interest seem to play a role in the nature of this valuation. Constructive journalism is steadily finding its way into journalism practice. There are also indications that people value news that incorporates constructive elements. It is important to further develop and define the concept in the coming years.
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DE JESUS, SILVIA MANOELA SANTOS, JESSICA FREIRE CAMPOS, and ANTONIO MARTINS DE OLIVEIRA JUNIOR. "THE TECHNOLOGICAL REVOLUTION AND THE NEW PROFILE OF THE ACCOUNTING PROFESSIONAL WITH THE ENTRY OF DIGITAL INNOVATION." International Journal for Innovation Education and Research 8, no. 2 (February 1, 2020): 199–207. http://dx.doi.org/10.31686/ijier.vol8.iss2.2190.
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Accounting has its development aligned with the progress of humanity. With globalization, the accounting area had to adapt to market needs. The professionals inserted in this evolution face significant challenges, of which the search for improvement must prevail. The objective was to analyze the impacts of the Technological Revolution on the accounting performance of professionals in the exercise of their duties and the new profile required with the innovation of the digital age. The methodological aspects included the accomplishment of bibliographical research, using references in the updated temporal nexus, with publications from 2015. The results indicate the extreme importance of the permanent improvement of accounting professionals, in search of constant changes inherent to the developed activities, because the valuation of the accounting profession will only happen if professionals are aware that the new challenges are opportunities for growth and expansion of the profession. This is the pace of digital innovation.
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DE JESUS, SILVIA MANOELA SANTOS, JESSICA FREIRE CAMPOS, and ANTONIO MARTINS DE OLIVEIRA JUNIOR. "THE TECHNOLOGICAL REVOLUTION AND THE NEW PROFILE OF THE ACCOUNTING PROFESSIONAL WITH THE ENTRY OF DIGITAL INNOVATION." International Journal for Innovation Education and Research 8, no. 2 (February 1, 2020): 221–29. http://dx.doi.org/10.31686/ijier.vol8.iss2.2200.
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Accounting has its development aligned with the progress of humanity. With globalization, the accounting area had to adapt to market needs. The professionals inserted in this evolution face significant challenges, of which the search for improvement must prevail. The objective was to analyze the impacts of the Technological Revolution on the accounting performance of professionals in the exercise of their duties and the new profile required with the innovation of the digital age. The methodological aspects included the accomplishment of bibliographical research, using references in the updated temporal nexus, with publications from 2015. The results indicate the extreme importance of the permanent improvement of accounting professionals, in search of constant changes inherent to the developed activities, because the valuation of the accounting profession will only happen if professionals are aware that the new challenges are opportunities for growth and expansion of the profession. This is the pace of digital innovation.
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Gupta, Ashish, and Piyush Tiwari. "Investment risk scoring model for commercial properties in India." Journal of Property Investment & Finance 34, no. 2 (March 7, 2016): 156–71. http://dx.doi.org/10.1108/jpif-05-2015-0031.
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Purpose – There is significant research related to risk and uncertainty in valuation. Risk, in valuation, is mostly communicated to investors in qualitative terms. There has been some research in developed markets to communicate risk quantitatively to clients through property risk scores. However there is paucity of research on communicating risk in emerging markets where the valuation profession is still evolving. Indian property markets have emerged as one the fastest growing markets in the last five years. With the growth in Indian economy and the emergence of indirect property investment market, it is likely that domestic and international passive investors would play an important role in property investment in India. Valuation of assets in portfolio and communication of risk in appropriate way would gain utmost importance. The paper aims to discuss these issues. Design/methodology/approach – This study uses analytical hierarchical process method to quantitatively assess risk to value for office properties in India. This study focuses on identifying principal elements of risk as perceived by key market players in an emerging economy like India. It identifies fundamentals of market, property and lease to determine valuation risk. It may be highlighted here that the risk that this paper is analysing is not the risk that is associated with the valuation for valuer who is conducting valuation but systematic and non-systematic risk associated with property. A two round of survey has been conducted to find various principal elements of valuation risk and sub criteria’s through an online survey conducted through survey monkey. Findings – The study found that in an emerging market like India there are limited exit option for developers and investors due to absence of exit vehicle like REITs for office property. Principal element of risk considered is the resale of property, i.e. exit from an investment, followed by tenant and lease specific elements to be other principal elements of risk in the order tenant risk, lock-in duration, functional obsolescence and lease duration. Other market risks like yield movement, rental movement, occupier demand were not considered principal elements of risk. Research limitations/implications – The study could be expanded further by increasing the sample size and as this study demonstrates present market sentiments. Study needs to be updated periodically to retain its practical importance and relevance to the industry. Practical implications – Findings of this study could be used by valuers and investors investing in office properties in India. Originality/value – This is the first paper on risk scoring for commercial properties in the Indian market. It has high importance as Indian market for office space will grow significantly with introduction of REITs.
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Aminov, N. A., Z. Z. Zhambeeva, and M. K. Kabardov. "Methods of Independent Valuation of adolescent «inherent value» in Training Activity." Психологическая наука и образование 20, no. 4 (2015): 86–95. http://dx.doi.org/10.17759/pse.2015200408.
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Implementing the new educational standards requires additional motivating features for successful study of adolescent. We tested a hypothesis that school student motivation to successful study is a result of interaction between external forms of motivating, such as forms of individual and social examination of study results by the teacher, and internal forms (a keen susceptibility of injustice or “suffering”, feelings of sorrow adolescent experienced from others or fault of their own). The study involved 41 students of 9th grade. The statistical analysis of intergroup differences and regression analysis confirmed the hypothesis. We found that depending on the sense of “suffering” adolescents admit more clearly how teacher evaluate his/her achievements on the main subjects (mathematics), has great self-esteem of his/her abilities and more “response” for the choice of future profession. According to the study results, authors pay special attention to the external factors that determine the adolescents’ attitude to themselves. That is, the achievement motive and anxiety of school student can be affected according to the preferred teachers value system based on an individual or a social student achievement evaluation norm.
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Ratnatunga, Janek, Stewart Jones, and Kashi R. Balachandran. "The Valuation and Reporting of Organizational Capability in Carbon Emissions Management." Accounting Horizons 25, no. 1 (March 1, 2011): 127–47. http://dx.doi.org/10.2308/acch.2011.25.1.127.
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SYNOPSIS: Under various carbon emissions trading schemes proposed around the world (including the United States), organizations will need to implement carbon management schemes to meet carbon ration targets, earn revenue, and reduce costs. Emission Trading Schemes will impact the accounting profession significantly; however, discussions on how to report these transactions are in the very formative stages. So far the accounting literature has focused on the reporting of current carbon assets and liabilities in the balance sheet and the timing effects of carbon releases in the income statement. However, there has been little or no discussion as to how to value and report the underlying non-current assets (and liabilities) that produce or use carbon allowances on the balance sheet. This paper proposes a model for valuing an organization’s non-current carbon sequestration and emission capabilities. A new metric, Environmental Capability Enhancing Asset (ECEA), is introduced as the underpinning for the conversion of non-monetary CO2 emission and sequestration measures to monetary values. The process of bringing these monetized values within the boundaries of conventional (double-entry) GAAP is also demonstrated.