Constructing a Simple Valuation Method Based on a Value Relevance Model

2020 ◽  
Author(s):  
Yuto Yoshinaga
Keyword(s):  
Value Relevance ◽  
Valuation Method ◽  
A Value ◽  
Relevance Model

scholarly journals Do CVM Welfare Estimates Suffer from On-Site Sampling Bias? A Comparison of On-Site and Household Visitor Surveys

2010 ◽  
Vol 39 (3) ◽  
pp. 561-570 ◽  
Author(s):  
Juan Marcos González-Sepúlveda ◽  
John B. Loomis
Keyword(s):  
Willingness To Pay ◽  
Contingent Valuation ◽  
Random Sample ◽  
Contingent Valuation Method ◽  
Household Survey ◽  
Sampling Bias ◽  
Valuation Method ◽  
A Value ◽  
Endogenous Stratification

The problem of endogenous stratification associated with on-site sampling has been overlooked in the Contingent Valuation Method (CVM). We find that using on-site samples of visitors overstates visitor willingness to pay (WTP) estimates relative to a household sample of visitors, and substantially overstates the unconditional population values. We provide two methods of correcting WTP of on-site samples. The uncorrected on-site sample CVM yields WTP of $132 per trip, while visitor WTP obtained from a random sample of households had a value of $66 per trip. Adaptation of choice-based sampling correction estimator to the on-site CVM data yields $73 per trip, not statistically different from the visitor value from the household survey, but significantly different from the uncorrected on-site sample value.

E. Digby Baltzell: Moral Rhetoric and Research Methodology

1998 ◽  
Vol 16 (2) ◽  
pp. 149-171 ◽  
Author(s):  
Samuel Z. Klausner
Keyword(s):  
Social Research ◽  
Value Relevance ◽  
Frame Of Reference ◽  
Research Strategies ◽  
Value Analysis ◽  
Social Actors ◽  
Moral Rhetoric ◽  
A Value ◽  
The Social ◽  
Empirical Generalizations

The ways in which values are assimilated to social research differ according to the theoretical frame of reference informing the research. An example from the writings of E. Digby Baltzell illustrates how a moral commitment shaped his assumptions about the nature of the social matrix and his research strategies. A Western moral rhetoric fares well if the researcher chooses a methodologically individualist framework. The framework assists a moral rhetoric by providing it with concrete rather than abstract social actors and with a basis for explanation in terms of motive rather than situational forces. Along the way moral statements can appear in the form of empirical generalizations and historical laws. Should sociologists deem ethically neutral social research desirable, this study suggests that concentration on scientific method, without exploring the value bases for selecting a frame of reference, is not a promising approach. A value analysis, especially around Weber's “value relevance,” may function propaedeuticly.

scholarly journals Using the Contingent Valuation Method to Measure Patron Benefits of Reference Desk Service in an Academic Library

1999 ◽  
Vol 60 (1) ◽  
pp. 56-69 ◽  
Author(s):  
David W. Harless ◽  
Frank R. Allen
Keyword(s):  
Contingent Valuation ◽  
Environmental Economics ◽  
Contingent Valuation Method ◽  
Economic Value ◽  
Academic Library ◽  
Valuation Method ◽  
A Value ◽  
Reference Service ◽  
Virginia Commonwealth University ◽  
The Cost

The authors apply a survey technique known as the contingent valuation (CV) method to estimate the economic value that patrons attach to reference desk service in an academic library. The CV method has been used in environmental economics for the past thirty years to estimate the value of environmental amenities. The authors argue that the appropriate measure of patron benefit from reference service includes use value (the usual benefit concept in the library literature) and option value (the benefit to potential users of knowing they have the option of using the services). The survey population consisted of the students and faculty of the academic campus of Virginia Commonwealth University. The authors surveyed 382 students and faculty eliciting willingness to pay (WTP) for reference desk services: WTP to maintain existing hours, WTP to keep the desk open an additional eighteen hours per week; and WTP to add 18.5 more hours (all hours the library is open). The 10 percent trimmed mean (a robust measure of central tendency) indicates that, on average, students are willing to pay $5.59 per semester to maintain current hours of the reference desk; instructional faculty indicate they are willing to pay $45.76 per year to maintain current hours. Given reasonable assumptions about the cost of service, students and faculty place a value on the current hours of reference desk service that exceeds the cost by a ratio of 3.5 to 1.

scholarly journals A value relevance dos ativos financeiros das empresas do setor elétrico brasileiro

2020 ◽  
Vol 39 (3) ◽  
pp. 85-98
Author(s):  
Marília Paranaíba Ferreira ◽  
Carlos Henrique Silva do Carmo ◽  
Alex Mussoi Ribeiro
Keyword(s):  
Value Relevance ◽  
A Value

As demonstrações contábeis das empresas do setor de energia elétrica passaram por mudanças significativas após o processo de convergência da contabilidade brasileira às IFRS. Considerando que uma das principais alterações é o desmembramento do ativo imobilizado em ativo financeiro e/ou ativo intangível, o presente estudo teve como objetivo verificar a relevância do ativo financeiro registrado no contrato de concessão para explicar a variação do preço da ação das companhias elétricas brasileiras entre 2010 e 2018. Os dados foram coletados no site da B³ e na base Economatica® e a análise foi feita por meio de regressões múltiplas com dados em painel. Dois modelos, baseados no Modelo de Ohlson, foram estimados para testar a hipótese da pesquisa de que o lucro líquido, o patrimônio líquido e os ativos financeiros por ação são informações relevantes para explicar o comportamento do preço da ação das empresas. Os resultados indicaram, ao nível de significância estatística de 0,01% e 1%, que os investidores reagem positivamente a essas informações e demonstraram um ganho de 15% do poder explicativo do modelo após adicionar a variável de ativos financeiros por ação. Dessa forma, pode-se afirmar que os valores dos ativos financeiros relativos aos contratos de concessão geram informações relevantes para o mercado de capitais e que a mudança na classificação do ativo imobilizado pode ser uma tentativa de tornar as demonstrações contábeis mais próximas da realidade da empresa.

scholarly journals International Real Estate Review

2018 ◽  
Vol 21 (1) ◽  
pp. 113-143
Author(s):  
Maurizio d’Amato ◽  
◽  
Paola Amoruso ◽  
Keyword(s):  
Time Series ◽  
Real Estate ◽  
Time Series Analysis ◽  
Property Market ◽  
General Introduction ◽  
Property Valuation ◽  
Valuation Method ◽  
A Value ◽  
Income Approach ◽  
Approach Method

Whilst the property market shows cyclical behaviours, opinions of value based on income approaches assume that there is stable or perpetually growing (or decreasing) income without considering the effects of the property market cycle on leasing contracts. The paper therefore focuses on the application of a valuation method for income producing properties which have a value that is affected by the upturns and downturns of property market cycles. Continuing from the previous works in this area (d¡¦Amato, 2003, d¡¦Amato, 2013; d¡¦Amato, 2015) the income approach method here is applied to the office market in four areas of London. In applying this valuation method, property valuation and time series analysis are integrated. The work provides a general introduction on cyclical capitalization as another family of valuation methodologies based on the income approach and then an application of cyclical capitalization to areas of London which highlight their strength and weakness.

scholarly journals Integrated Reporting and Investment: How are They Related?

The Winners ◽  
2020 ◽  
Vol 21 (1) ◽  
pp. 1
Author(s):  
Bernadeta Susilo Martanti ◽  
Dessy Astuti Hermanto ◽  
Elin Noviyanti ◽  
Windy Rizkika Andriany
Keyword(s):  
Corporate Strategy ◽  
Value Relevance ◽  
The United States ◽  
Professional Services ◽  
Integrated Reporting ◽  
Voluntary Regulation ◽  
A Value ◽  
Government Mandates ◽  
The Government

The research aimed to explore how integrated reporting potentially impact the investor decision within mandatory and voluntary regulation. The method used was exploration of arguments from several researchers, either from theoretical and empirical basis, or literature review.  The method of this qualitative research was dividing the literature into categories which in this research would be mandatory and voluntary regulations. The sub categories were divided by two countries which were Africa and The United States as research objects. The result and discussion were integrated reporting increases the value relevance of information produced by the company and underline the way companies create a value over the short until long term by informing business model, corporate strategy, and forecasting view. The result shows that Integrated Reporting will be more useful if the Government mandates the regulation like in Africa. It is considered that when Integrated Reporting potentially impacts the investors’ decision assured by professional services, these disclosures will be more accurate and reliable. A contribution for the government to create a clear regulation of the integrated report and provide an assurance service to assure the accuracy of information in the Integrated Report will be our expectation.

scholarly journals A VALORAÇÃO DO DANO MORAL PELO PODER JUDICIÁRIO: A CONCREÇÃO DO DANO EXPERIMENTADO PELA VÍTIMA A PARTIR DA PROPOSITURA DE UM MÉTODO OBJETIVO DE VALORAÇÃO

Percurso ◽  
2019 ◽  
Vol 2 (29) ◽  
pp. 286
Author(s):  
Clayton REIS ◽  
Debora Cristina de Castro da ROCHA ◽  
Edilson Santos da ROCHA
Keyword(s):  
Human Person ◽  
Basic Principles ◽  
Quantitative And Qualitative Research ◽  
Valuation Method ◽  
A Value ◽  
Personality Rights ◽  
Democratic State ◽  
De Se ◽  
Moral Damage ◽  
Legal Fees

RESUMOBuscar-se á mediante a pesquisa qualitativa na doutrina e jurisprudência e ainda sob uma perspectiva argumentativa indutiva, uma proposta de valoração do “dano moral”, no intento de se desenvolver um método valorativo que possa nortear a magistratura, fortalecer a doutrina e amparar a jurisprudência, com vistas à sistematização dos critérios e parâmetros que presidirão a indenização por danos morais, evitando-se que a compensação em pecúnia venha a se transformar em arbitrariedade, o que culminaria com um colapso completo dos princípios básicos do Estado Democrático de Direito. Para tanto, trazer-se á uma análise acerca do reconhecimento histórico do instituto, os métodos e critérios utilizados e por fim discorrer-se-á sobre a proposição de um método objetivo de valoração como meio de concreção do dano como forma de mitigar o risco da tarifação judicial e alcançar a tão almejada reparação integral. PALAVRAS-CHAVE: Responsabilidade Civil; Dano Moral; Valoração do Dano Moral; Direitos da Personalidade; Dignidade da Pessoa Humana. ABSTRACTIt will be sought through the quantitative and qualitative research in doctrine and jurisprudence and also from a logical-deductive argumentative perspective, a proposal of valuation of the "moral damage", in the attempt to develop a value method that can guide the judiciary, strengthen the doctrine and support the jurisprudence, with a view to systematizing the criteria and parameters that will preside the indemnification for moral damages, avoiding that the compensation in pecunia will turn into arbitrariness, which would culminate with a complete collapse of the basic principles of the Democratic State right. In order to do so, we shall analyze the historical recognition of the institute, the methods and criteria used and finally discuss the proposition of an objective valuation method as a means of concretizing the damage as a way to mitigate the risk of legal fees and achieve the long-awaited full reparation. KEYWORDS: Civil Liability; Moral Damage; Valuation of Moral Damage; Personality Rights; Dignity of the Human Person.

scholarly journals Disclosure de despesas com P&D e enforcement regulatório no setor elétrico: value relevance no mercado de capitais brasileiro

2021 ◽  
Vol 12 (2) ◽  
Author(s):  
José Glauber Cavalcante dos Santos ◽  
Alessandra Carvalho de Vasconcelos ◽  
Andrezza De Albuquerque Espíndola
Keyword(s):  
Value Relevance ◽  
A Value

A regulação pode funcionar como instrumento de incentivo à inovação nas firmas, mas não se sabe como essa coerção reflete nos preços dos títulos acionários. Tem-se como objetivo avaliar o efeito do enforcement regulatório do setor elétrico sobre a value-relevance do disclosure de despesas com P&D no mercado brasileiro de capitais. Foram analisadas 1.294 observações de 440 firmas listadas na B3 entre 2011 e 2015. A aplicação de regressão mostra que o enforcement regulatório é capaz de afetar negativamente a avaliação do disclosure de P&D, além de tornar o patrimônio líquido das empresas do setor elétrico mais informativo. Verificou-se que os agregados contábeis patrimônio líquido e lucro contábil se mostram mais relevantes entre as empresas sob regulação da ANEEL. As evidências sugerem que, no Brasil, o enforcement regulatório do setor elétrico se mostra como variável de interesse para os investidores.

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