Property valuation for mortgage purposes in Poland

2018 ◽  
Vol 36 (2) ◽  
pp. 234-247 ◽  
Author(s):  
Hanna Augustyniak ◽  
Jacek Laszek ◽  
Krzysztof Olszewski ◽  
Joanna Waszczuk
Keyword(s):  
Financial Stability ◽  
International Standards ◽  
Content Type ◽  
Polish Literature ◽  
Valuation Methods ◽  
Property Valuation ◽  
Reliable Source ◽  
Valuation Process ◽  
International Investors ◽  
Valuation Uncertainty

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

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.

Property valuation methods in practice: evidence from Australia

2019 ◽  
Vol 37 (5) ◽  
pp. 701-718 ◽  
Author(s):  
Rotimi Boluwatife Abidoye ◽  
Ma Junge ◽  
Terence Y.M. Lam ◽  
Tunbosun Biodun Oyedokun ◽  
Malvern Leonard Tipping
Keyword(s):  
Good Practice ◽  
Hedonic Pricing ◽  
Educational Institutions ◽  
Online Questionnaire ◽  
Content Type ◽  
Hedonic Pricing Model ◽  
Valuation Methods ◽  
Property Valuation ◽  
Use Of Technology ◽  
Logic System

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.

DESCRIPTION OF THE PROPERTY VALUATION PROCESS IN POLISH CONDITIONS

2019 ◽  
Vol 20 (3) ◽  
pp. 61-73
Author(s):  
Piotr Kuraś
Keyword(s):  
Real Estate ◽  
Complex Problem ◽  
Point Of View ◽  
Sources Of Information ◽  
Polish Literature ◽  
The Real Estate ◽  
Property Valuation ◽  
Valuation Model ◽  
Valuation Process ◽  
The Subject

The study attempts to describe the property valuation process in the context of regulations in force In Poland. For this purpose, to this end, the current legal acts, professional standards of real estate appraisers as well as institutional and economic conditions were analyzed. The study starts with the characterization of the property at the subject of valuation, the types of determined values, then the silhouette of the real estate appraiser as a professional authorized to valuation of the property was presented. The most important part of the study, from the point of view of the study goal, is the description of the process of valuation of real estate in Polish conditions. This paper presents a general valuation model, which the difficult and complex problem of valuation presents in a comprehensive, consistent and logical way. Various research approaches have been used for the purpose of the study. Qualitative approach based on observation, interview, analysis of dispersed sources allowed to formulate research assumptions. Next, methods of scientific inference were used, mainly analysis and synthesis. In the paper, due to the aim, mainly the Polish literature on the subject was used as well as legal acts and other sources of information.

Do globalisation and adoption of IFRS by banks in Africa lead to less earnings management?

2019 ◽  
Vol 17 (2) ◽  
pp. 222-248 ◽  
Author(s):  
Mohammed Amidu ◽  
Haruna Issahaku
Keyword(s):  
Financial Reporting ◽  
Design Methodology ◽  
Information Quality ◽  
Accounting Information ◽  
Financial Statements ◽  
International Standards ◽  
Content Type ◽  
Financial Reporting Standards ◽  
Accounting Information Quality ◽  
National Economies

Purpose This paper aims to analyse the implications of globalisation and the adoption of international standards (International Financial Reporting Standards [IFRS]) for accounting information quality. Design/methodology/approach This paper uses a sample of 329 banks across 29 countries leading up to and beyond the implementation of IFRS to test for related hypotheses. Findings First, banks’ financial statements are prepared on the basis of international standards as national economies are integrated when social norms are diffused. Building on these results, the second test suggests that the relatively high-quality earnings among banks in Africa during the period is attributable to the adoption of and interaction of IFRS with globalisation and the strategy of banks to diversify within and across interest and non-interest income. Originality/value The authors investigate how globalisation and the adoption of IFRS affect accounting information quality.

scholarly journals The future of financial markets and regulation: what strategy for Europe?

foresight ◽  
2014 ◽  
Vol 16 (2) ◽  
pp. 95-108 ◽  
Author(s):  
Jean-Baptiste Gossé ◽  
Dominique Plihon
Keyword(s):  
Financial Markets ◽  
Capital Market ◽  
Financial Stability ◽  
Design Methodology ◽  
Financial Integration ◽  
Content Type ◽  
Realistic Option ◽  
The Future ◽  
Unstable Environment ◽  
Insight Into

Purpose – This article aims to provide insight into the future of financial markets and regulation in order to define what would be the best strategy for Europe. Design/methodology/approach – First the authors define the potential changes in financial markets and then the tools available for the regulator to tame them. Finally, they build five scenarios according to the main evolutions observed on the financial markets and on the tools used by the regulator to modify these trends. Findings – Among the five scenarios defined, two present highly unstable features since the regulator refuses to choose between financial opening and independently determining how to regulate finance in order to preserve financial stability. Three of them achieve financial stability. However, they are more or less efficient or feasible. In terms of market efficiency, the multi-polar scenario is the best and the fragmentation scenario is the worst, since gains of integration depend on the size of the new capital market. Regarding sovereignty of regulation, fragmentation is the best scenario and the multi-polar scenario is the worst, because it necessitates coordination at the global level which implies moving further away from respective national preferences. However, the more realistic option seems to be the regionalisation scenario: this level of coordination seems much more realistic than the global one; the market should be of sufficient size to enjoy substantial benefits of integration. Nevertheless, the “European government” might gradually increase the degree of financial integration outside Europe in line with the degree of cooperation with the rest of the world. Originality/value – Foresight studies on financial markets and regulation are quite rare. This may be explained by the difficulty to forecast what will be their evolution in the coming decades, not least because finance is fundamentally unstable. This paper provides a framework to consider what could be the best strategy of regulators in such an unstable environment.

scholarly journals Assessing the impact of libraries – the role of ISO 16439

2018 ◽  
Vol 119 (1/2) ◽  
pp. 87-93 ◽  
Author(s):  
Claire Creaser
Keyword(s):  
Design Methodology ◽  
International Standards ◽  
Content Type ◽  
International Standard ◽  
The World ◽  
The Difference ◽  
Library Impact ◽  
The Impact

Purpose Library impact and how to evaluate it has been debated for a number of years. While the activity – the busy-ness – of the library is now routinely measured and described, the difference the library makes is less tangible and harder to measure. Libraries in all sectors and worldwide are grappling with this issue, and the purpose of this paper is to summarise international standards available to support them. Design/methodology/approach The first international standard concerning library impact, ISO 16439 Information and documentation – methods and procedures for assessing the impact of libraries, was published in 2014 after several years in development. Findings The standard describes a range of methods for assessing library impact which have been used across the world in a variety of libraries in all sectors. Originality/value This paper summarises the key methods described in the standard, and gives references for further reading.

The auditing profession and the key audit matter reporting requirement

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Dessalegn Getie Mihret ◽  
Monika Kansal ◽  
Mohammad Badrul Muttakin ◽  
Tarek Rana
Keyword(s):  
Standard Setting ◽  
International Standards ◽  
Financial Reports ◽  
Content Type ◽  
Reporting Requirement ◽  
Regulatory Rule ◽  
Rule Setting ◽  
A Site ◽  
Relationship Of

Purpose This study aims to examine the setting of International Standards on Auditing (ISA) 701 on disclosing key audit matters (KAMs) to explore the role of standard setting in maintaining or reconstituting the relationship of the auditing profession with preparers and users of financial reports. Design/methodology/approach This study draws on concepts from the sociology of the professions literature and the regulatory space metaphor. Data comprises comment letters and other documents pertaining to the setting of ISA 701. Findings The study shows that the KAM reporting requirement is part of the ongoing re-calibration of the regulatory arrangements governing auditing, which started in the early 2000s. This study interprets standard setting as a site for negotiating the relationships between linked ecologies in the audit regulatory space, namely, the auditing profession, preparers of financial statements and users of audited reports. This study identifies three processes involved in setting ISA 701, namely, reconstitution of the rules governing auditors’ reports as a link between the three ecologies, preserving boundaries between the auditing profession and preparers and negotiation aimed at balancing competing interests of the interrelated ecologies. Originality/value The study offers insights into the role of regulatory rule setting as a central medium through which the adaptive relationship of the profession with its environment is negotiated.

Ecuador’s Lasso weathers early storm but clouds loom

2022 ◽  
Keyword(s):  
Economic Growth ◽  
Economic Activity ◽  
Direct Investment ◽  
Tax Reform ◽  
The Political ◽  
Tax Reforms ◽  
Content Type ◽  
Downward Pressure ◽  
New Challenges ◽  
International Investors

Significance He appears to have weathered this early political storm, achieving notable successes in areas such as tax reform. However, the political outlook remains uncertain, with a likely COVID-19 resurgence heralding new challenges in 2022. Impacts Containing the spread of the Omicron variant will be a priority for Lasso in the coming months. A pandemic resurgence would place downward pressure on economic growth and tax collection. Tax reforms will please international investors and support efforts to attract foreign direct investment to stimulate economic activity.

Ecuador prison crisis threatens to escalate

2021 ◽  
Keyword(s):  
Human Rights ◽  
International Human Rights ◽  
Prison Violence ◽  
Content Type ◽  
The Us ◽  
International Coordination ◽  
Drug Cartels ◽  
International Human ◽  
International Investors

Significance The attack, which involved drones, illustrates the evolving tactics of crime groups, and follows a string of violent, sometimes coordinated, incidents at prisons this year. These have resulted in the deaths of over 120 inmates. Prison violence comes alongside rising crime and growing concerns over the strengthening of transnational drug cartels. Impacts Lasso will face increasing pressure from international human rights groups to protect prisoners and improve prison conditions. Rising violence and crime will increase concerns among international investors about the security of investments and risks of extortion. Lasso might seek to exploit improved relations with the US and Colombian governments to strengthen international coordination.

Potential outcomes of work integration social enterprises for people who are homeless, at risk of homelessness, or transitioning out of homelessness

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sarah Barton ◽  
Hayley Porter ◽  
Susanne Murphy ◽  
Rosemary Lysaght
Keyword(s):  
At Risk ◽  
Financial Stability ◽  
Social Enterprise ◽  
Empirical Studies ◽  
Target Population ◽  
Social Enterprises ◽  
Potential Outcomes ◽  
Future Research ◽  
Content Type ◽  
Work Integration

Purpose Social enterprise has the potential to serve as a mechanism of social and economic opportunity for persons experiencing homelessness. This paper aims to identify potential outcomes of work integration social enterprises (WISEs) for people who are homeless, at risk of homelessness, or transitioning out of homelessness. Design/methodology/approach Searches of 14 databases were completed using keywords and subject headings pertaining to homelessness, social enterprise and employment, respectively. These searches were then combined to identify literature concerning WISEs with homeless populations. The initial search yielded 784 unique articles. Through screening, 29 articles were selected and independently coded to establish themes. Findings The analysis identified the potential for WISEs to contribute positively to the lives of the target population in the areas of connection to the community, employment skill building, mental health, personal agency and empowerment, relationship-building, structure and time use, financial stability and housing. There were less positive and mixed findings regarding substance use, crime/delinquency, physical health and transition to mainstream employment. Future research should further explore causal relationships between WISE approaches and strategies and their potential implications for persons emerging from homelessness. Originality/value Prior to this research, there have not been any recent publications that synthesize the existing body of literature to evaluate the potential outcomes of WISE participation for homeless populations. This paper lays the groundwork for future empirical studies.

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