Pricing to market

2018 ◽  
Vol 36 (4) ◽  
pp. 391-396 ◽  
Author(s):  
Nick French ◽  
Laura Gabrielli
Keyword(s):  
Market Value ◽  
Financial Economic ◽  
Content Type ◽  
World Markets ◽  
Valuation Task ◽  
The Subject ◽  
The Right ◽  
Market Valuations ◽  
Practical Implications

Purpose Since the global financial economic crisis hit the world markets in 2007/2008, the role of property valuation has been under greater and greater scrutiny. The process of valuation and its quality assurance has been addressed by the higher prominence of the International Valuation Standards Council (IVSC). This is a significant initiative worldwide. However, there has been little written on the appropriate use of valuation approaches and methods in market valuations. There is now a hierarchy of valuation definitions. In order, there are valuation approaches, valuation methods and, as a subset of the methods, techniques or models. The purpose of this paper is to look at the importance of identifying the appropriate approach to be adopted in market valuations and the methods, techniques and models that should be applied to determine market value. Design/methodology/approach This practice briefing is an overview of the valuation approaches, methods and models available to the valuer and comments on the appropriateness of valuation each in assessing market value. Findings This paper reviews the IVSC-recognised approaches and prompts the valuer to be careful with the semantics involved so that they are better placed to provide an unambiguous service to their clients. Practical implications The role of the valuer in practice is to identify the appropriate approach for the valuation of the subject property, choose the right method and then apply the correct mathematical model for the valuation task in hand. Originality/value This provides guidance on how valuations can be presented to the client in accordance with the International Valuation Standards.

Pricing to market: market value – the enigma of misunderstanding

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nick French ◽  
Neil Crosby ◽  
Chris Thorne
Keyword(s):  
Market Value ◽  
Property Market ◽  
Content Type ◽  
Market Participants ◽  
Valuation Process ◽  
Definition Of ◽  
The Right ◽  
Practical Implications ◽  
Is Value

PurposeMarket value is an estimation of price in the market. It is value in exchange. The valuer's role is to determine the appropriate approach, the method and use the right model to achieve this aim as best as possible. However, underpinning all valuations and property analysis are valuation standards and definitions. This paper looks at the definition of market value and how some market participants may misunderstand or even misrepresent it. This is particularly true when there is a downturn in the market.Design/methodology/approachThis practice briefing is an overview of the role of market value as a definition of price and how it is often misused by stakeholders in the property market.FindingsThis briefing is a review of the valuation definitions clarifying what they mean and what they do not mean.Practical implicationsThe role of the valuer in practice is to use the appropriate definition for the task in hand. The understanding of those definitions is central to the valuation process.Originality/valueThis provides guidance on how valuation definitions can be presented to the client in accordance with the International Valuation Standards.

Pricing to market: property valuation methods – a practical review

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Laura Gabrielli ◽  
Nick French
Keyword(s):  
Specific Property ◽  
Market Value ◽  
Content Type ◽  
Valuation Methods ◽  
Property Valuation ◽  
Valuation Method ◽  
Valuation Process ◽  
Valuation Task ◽  
The Right

PurposeValuation is the process of determining Market Value. Property valuation, as with the valuation of all assets, is an estimation of price in the market. It is value in exchange. The valuer role is to determine the appropriate approach, the method and use the right model to achieve this aim as best as possible. It is a combination of analysing the market and determining the critical variables for the valuation method/model. The method is separate from the valuation process which should be followed (according to the International Valuation Standards Council Valuation Standards) regardless the valuation method chosen. There are valuation approaches, valuation methods and, as a subset of the methods, techniques or models.Design/methodology/approachThis practice briefing is an overview of the Valuation Methods and Models available to the valuer and comments on the appropriateness of valuation each in assessing Market Value for specific property types.FindingsThis briefing is a review of the valuation methods and models and models that can be applied to determine market value.Practical implicationsThe role of the valuer in practice is to identify the method of valuation and then apply the correct mathematical model for the valuation task in hand.Originality/valueThis provides guidance on how valuations can be presented to the client in accordance with the International Valuation Standards.

scholarly journals Valarie Zeithaml: autobiographical reflections

2017 ◽  
Vol 9 (3) ◽  
pp. 264-276 ◽  
Author(s):  
Valarie A. Zeithaml
Keyword(s):  
Personal Development ◽  
Design Methodology ◽  
Chronological Order ◽  
Career Trajectory ◽  
Content Type ◽  
Look Back ◽  
The Subject ◽  
Research Philosophy ◽  
The Right ◽  
Practical Implications

Purpose By examining my personal development and career trajectory, I hope to share some insights into life as an academic. My particular path has contained, as most paths do, twists and turns. As I look back, they all seem somehow related to each other, but they were not all planned. Design/methodology/approach I will discuss my life and career in chronological order, then reflect on my career and research philosophy. I will also discuss several of my most cited articles and how they emerged. Findings I emphasize research that is both academically rigorous and relevant to business. I also show that passion for a subject, even one that is risky and not encouraged by others, has resulted in lifelong interest and inspiration for me. While not appropriate for all because of the risk, I found it worth taking a chance, largely because I was highly inspired by the subject. Practical implications Research that is programmatic has benefits because it allows a scholar to own an area. Also, working with the right co-author teams – sometimes ones where different talents are distributed across the team is effective. Originality/value The story and opinions are mine alone.

The role of knowledge in valuation practice: expert valuers’ perceptions

2019 ◽  
Vol 37 (6) ◽  
pp. 524-540 ◽  
Author(s):  
Abdul-Rasheed Amidu ◽  
David Boyd ◽  
Alirat Olayinka Agboola
Keyword(s):  
United Kingdom ◽  
Design Methodology ◽  
Experiential Knowledge ◽  
Content Type ◽  
Professional Goals ◽  
Valuation Task ◽  
Cognitive Knowledge ◽  
Speed Accuracy ◽  
Practical Implications

Purpose The purpose of this paper is to explore the role knowledge plays in expert commercial valuer practice to unpack the way theoretical and experiential knowledge operates in order to improve practice and education. Design/methodology/approach Adopting a cognitivist perspective and identifying meta-reasoning, using a grounded theory methodology, through the study of 11 chartered valuation surveyors practicing in Birmingham, United Kingdom, the distinctive theoretical and experiential knowledge they used was elicited through their in-depth reflection on a valuation task followed by analytical interviews exploring meaning and reasons of actions described. Findings The results confirmed that multi-sourced and rich valuation knowledge was a key attribute of a valuation expert. However, the experiential knowledge was not used to undertake the task but to select the methods and knowledge appropriate for the task and context. This meta-reasoning is a key to the speed, accuracy and justification of their practices. Thus, the experience gained from many years of valuation provides expert valuers with meta-reasoning involving knowledge of what, how and when to deal with problems in different circumstances such as the knowledge of markets and handling of clients. Practical implications Making meta-reasoning a key aspect of valuation will identify its characteristics more clearly, thus assisting the development of practitioners and providing a new focus for education to advance professional goals. Originality/value Meta-reasoning and meta-cognitive knowledge have not been identified as a key to successful valuation practice. This meta-reasoning allows a subtle balance of theory and experience in valuation practice that is appropriate to the situation.

Property valuation in the UK: energy efficiency legislation and its impact on valuation

2018 ◽  
Vol 36 (4) ◽  
pp. 383-390 ◽  
Author(s):  
Nick French ◽  
Jason Antill
Keyword(s):  
Energy Efficiency ◽  
Content Type ◽  
New Energy ◽  
Valuation Task ◽  
The Subject ◽  
The Uk ◽  
Value Changes ◽  
The Impact ◽  
Rental Value

Purpose The purpose of this paper is to provide an insight into how the new energy efficiency legislation in the UK is impacting upon the valuation of certain properties. This paper looks at how to adapt implicit valuation models to reflect the new risks of the impact of legislation. Design/methodology/approach This practice briefing is an overview of the new legislation and comments on the appropriateness of valuation models in different scenarios. Findings This paper analyses the likelihood of capital and rental value changes under the new energy efficiency guidelines. Practical implications The role of the valuer in practice is to identify the impact of the new legislation on the value of the subject property and choose the correct model for the valuation task in hand. Originality/value This provides guidance on how valuations can be undertaken to reflect any impact of the new energy efficiency legislation.

Political advertising and voting behaviour in a nascent democracy

2019 ◽  
Vol 10 (3) ◽  
pp. 827-847
Author(s):  
Raef Abdennadher ◽  
Lazhar Ayed ◽  
Bronwyn P. Wood
Keyword(s):  
Sampling Technique ◽  
Political Advertising ◽  
Advertising Agencies ◽  
Content Type ◽  
Mediating Role ◽  
Democratic Experience ◽  
The Right ◽  
The Impact ◽  
Practical Implications

Purpose This paper aims to investigate the impact of political advertising on voter attitude and the processes of decision-making in the specific context of the inaugural democratic experience of post-revolutionary Tunisia. Design/methodology/approach The study was conducted in Tunisia, where the target respondents included Tunisian’s eligible to vote during the presidential campaign of October 2014. The study uses questionnaires for data collection using a convenience sampling technique. Findings The major findings of the study are that the persuasion power of advertising has a direct impact on voter involvement, trust and attitude towards voting. Specifically, involvement significantly influences a voter’s attitude. The hypothesis on the impact of trust on attitude, and the hypothesis related to the mediating role of trust and involvement were rejected. Research limitations/implications The study recommends specialists in political advertising and politicians themselves give consideration to the trust and involvement considerations of the Tunisian voter, to enhance and optimize the quality and credibility of political advertising in the future. Practical implications The research offers some interesting findings for professionals in political advertising, for companies operating in political research, or advertising agencies. In this context, advertising agencies need to give prescient consideration to the trust of the voter by developing a credible and believable discourse. Social implications In the context of a nascent democracy, it is very important to educate people so they become familiarized with the practices of democracy, and to give them the ability to make the right choice. The study recommends specialists in political advertising and also politicians give consideration to the trust and involvement considerations of the Tunisian voter, to enhance and optimize the quality and credibility of political advertising. Originality/value This research paper related to political advertising can be used to formulate appropriate political advertising strategies and to ameliorate and optimize the advertising discourse in the context of a nascent democracy.

Cause-related marketing in international business: what works and what does not?

2020 ◽  
Vol 37 (4) ◽  
pp. 593-601 ◽  
Author(s):  
Demetris Vrontis ◽  
Alkis Thrassou ◽  
Michael Christofi ◽  
Riad Shams ◽  
Michael R. Czinkota
Keyword(s):  
International Markets ◽  
Content Type ◽  
Cause Related Marketing ◽  
Self Image ◽  
What Works ◽  
Self Actualization ◽  
The Subject ◽  
The Difference ◽  
Practical Implications

PurposeThe purpose of this paper is to investigate the irrevocable role of cause-related marketing (CRM) and its research imperative, exploring its contemporary insights in and across international markets, toward scholarly and executive application.Design/methodology/approachThis research is theoretical and it compiles and interrelates, in a multiperspective fashion, significant extant works in the field; focusing on how established and emergent variables and constructs can be leveraged, in order to develop insights into what does and does not work in international CRM.FindingsExtant works on international CRM still present significant gaps pertaining to key questions. Furthermore, true understanding of CRM stems from comprehending consumers, both individually and collectively; and both their underlying and contextual motivators, factors and forces. This calls for a multiperspective and cross-disciplinary approach to CRM to that weaves in contextual (sociocultural, etc.) elements to the equation.Research limitations/implicationsLimitations naturally pertain to the research's theoretical nature that requires empirical testing.Practical implicationsCRM offers consumers both the means and the ends of acquiring their target core value benefits, additionally or peripherally to their core purchase purpose; potentially making the difference between business/brand success and failure.Social implicationsThrough CRM, the contemporary consumer seeks product value benefits that transcend quality and functionality (etc.), to engulf abstract and intangible values pertaining to social, ethical, self-image and self-actualization factors.Originality/valueThe comprehensive review, contextual elucidations and cross-disciplinary perspectives of this paper originally present the scope, depth, complexity and gaps of the subject, and pave the way for the research that still needs to ensue.

Novartis Pharmaceuticals Corporation has the right prescription for diversity

2014 ◽  
Vol 22 (6) ◽  
pp. 15-17
Keyword(s):  
Executive Leadership ◽  
Leadership Positions ◽  
Content Type ◽  
Diversity And Inclusion ◽  
The Us ◽  
Employee Resource Groups ◽  
The Right ◽  
A Company ◽  
Practical Implications

Purpose – This paper aims to describe the actions that have helped Novartis Pharmaceuticals Corporation to reach No. 1 in this year’s DiversityInc top 50 companies for diversity. Design/methodology/approach – It examines the roles of the company’s executive diversity and inclusion council, diversity and inclusion councils, the diversity and inclusion department and employee-resource groups. Findings – It reveals that the number of women in top-level jobs at the company has more than doubled in the past five years. Today, women account for more than 50 per cent of executive-leadership positions. Practical implications – It advances the view that getting strategic about diversity and inclusion – and making these elements a natural part of the way a company does business – drives innovation and moves the business and people forward. Social implications – It demonstrates that, as the US workforce becomes more diverse, all companies face the challenge of creating new and better ways of recruiting and retaining talent from all segments of the workforce – and creating an inclusive culture where all perspectives are valued. Originality/value – It highlights the key role of diversity at a US affiliate of a multinational pharmaceutical company.

scholarly journals Land registration and landownership security

2017 ◽  
Vol 35 (1) ◽  
pp. 24-47 ◽  
Author(s):  
Raymond Talinbe Abdulai ◽  
Edward Ochieng
Keyword(s):  
Design Methodology ◽  
Developing World ◽  
Review Paper ◽  
Common Knowledge ◽  
Content Type ◽  
Land Registration ◽  
International Donor ◽  
The Right ◽  
Practical Implications

Purpose The assertion that land registration guarantees landownership security is common knowledge. Thus, efforts at securing landownership in particularly, the developing world have concentrated on the formulation and implementation of land registration policies. However, over the years, whilst some studies claim that land registration assures security, a lot of other studies have established that security cannot be guaranteed by land registration. Also, there is evidence from research that has shown that land registration can be a source of ownership insecurity in some cases. The purpose of this paper is to critically analyse the underpinning principles of land registration and their application in order to establish whether or not land registration can actually guarantee ownership security. Design/methodology/approach It is a literature review paper that looks at the existing literature on landownership, security and land registration systems. The land registration principles that have been subjected to critical analysis are the publicity function of land registration, the legality of ownership emanating from land registration and the warranty provided by the State in land registration, specifically, under the Torrens system. Findings An analysis of the underpinning principles of land registration shows that land registration per se cannot guarantee ownership security and this helps to explain the findings of the numerous studies, which have established that landownership security cannot be assured by land registration. The paper concludes by identifying the right role of land registration as well as a mechanism that can effectively protect or secure landownership. Practical implications Land registration policies and programmes in the developing world are often funded by the international donor community and the findings provide useful insights regarding the actual role of land registration and for policy change in terms of what can secure landownership. Originality/value Even though there are two schools of thought regarding research on the link between land registration on one hand, and landownership security on the other, none of the studies has made an attempt to consider the nexus by critically examining the principles that underpin land registration to support their arguments.

Apple was sweeter when Steve Jobs held sway

2014 ◽  
Vol 22 (4) ◽  
pp. 25-28
Author(s):  
Maniam Kaliannan ◽  
Vanitha Ponnusamy
Keyword(s):  
Organizational Change ◽  
Design Methodology ◽  
Business Environment ◽  
Content Type ◽  
Steve Jobs ◽  
Apple Products ◽  
The Right ◽  
Two Sides ◽  
Practical Implications

Purpose – This paper observes that Apple illustrates the right and wrong ways to bring about organizational change, and emphasizes the key role of personalities in the process. Design/methodology/approach – Compares and contrasts the performance of Apple under the leadership of Steve Jobs and John Sculley. Findings – Advances the view that Steve Jobs was more successful because he focused on innovation, while John Sculley paid more attention to current products and profitability. Practical implications – Describes how the Steve Jobs era saw the introduction of such iconic Apple products as the iPod, iPhone and iPad, which helped the company to gain pre-eminence in its field. Social implications – Argues that, in today’s globalized business environment, organizational change is a must. Demonstrates how to achieve this successfully. Originality/value – Describes two sides of the Apple story and draws the lessons for other businesses involved in organizational change.

Sign in / Sign up

Export Citation Format

Share Document