scholarly journals MAIN DIRECTIONS TO IMPROVE THE NORMATIVE MONETARY VALUATION OF LAND

2021 ◽  
Vol 22 (1) ◽  
pp. 192-196
Author(s):  
O. Mykula ◽  
N. Shpik
Keyword(s):  
Monetary Valuation

Monetäre Bewertung von Ökosystemleistungen: eine kritische Sicht auf einige Kritiken (Essay)

2017 ◽  
Vol 168 (1) ◽  
pp. 14-20 ◽  
Author(s):  
Peter Elsasser
Keyword(s):  
Ecosystem Services ◽  
Scientific Literature ◽  
Well Being ◽  
The Political ◽  
Political Decision ◽  
Monetary Valuation ◽  
Intrinsic Values ◽  
Ethical Norms ◽  
Valuation Of Ecosystem Services ◽  
Environmental Valuations

Monetary valuation of ecosystem services: a critical view of some critiques (essay) Diverse objections against the monetary valuation of ecosystem services are being raised in transdisciplinary discussions as well as in the scientific literature. The monetary valuation is said to overlook nature's intrinsic values, to infringe ethical norms, to narrow down perspectives to economic welfare alone, or even to nothing but material well-being, to stimulate the commercialisation of nature – conversely, others criticize that it fails exactly in this respect –, to favour social inequality, and to rely upon undependable methods. This essay questions the cogency of these criticisms and highlights some prejudices and misconceptions, often rooted in an erroneous understanding of the function of environmental valuations in the political decision process.

scholarly journals Monetary Valuation of Flood Protection Ecosystem Service Based on Hydrological Modelling and Avoided Damage Costs. An Example from the Čierny Hron River Basin, Slovakia

Water ◽  
2021 ◽  
Vol 13 (2) ◽  
pp. 198
Author(s):  
Igor Gallay ◽  
Branislav Olah ◽  
Zuzana Gallayová ◽  
Tomáš Lepeška
Keyword(s):  
Decision Making ◽  
Land Use ◽  
Ecosystem Service ◽  
Hydrological Modelling ◽  
Flood Protection ◽  
Medium Size ◽  
Land Uses ◽  
Monetary Valuation ◽  
Monetary Value ◽  
Damage Costs

Flood protection is considered one of the crucial regulating ecosystem services due to climate change and extreme weather events. As an ecosystem service, it combines the results of hydrological and ecosystem research and their implementation into land management and/or planning processes including several formally separated economic sectors. As managerial and economic interests often diverge, successful decision-making requires a common denominator in form of monetary valuation of competing trade-offs. In this paper, a methodical approach based on the monetary value of the ecosystem service provided by the ecosystem corresponding to its actual share in flood regulating processes and the value of the property protected by this service was developed and demonstrated based on an example of a medium size mountain basin (290 ha). Hydrological modelling methods (SWAT, HEC-RAS) were applied for assessing the extent of floods with different rainfalls and land uses. The rainfall threshold value that would cause flooding with the current land use but that would be safely drained if the basin was covered completely by forest was estimated. The cost of the flood protection ecosystem service was assessed by the method of non-market monetary value for estimating avoided damage costs of endangered infrastructure and calculated both for the current and hypothetical land use. The results identify areas that are crucial for water retention and that deserve greater attention in management. In addition, the monetary valuation of flood protection provided by the current but also by hypothetical land uses enables competent and well-formulated decision-making processes.

The paradox of accounting for cultural heritage: a longitudinal study on the financial reporting of heritage assets of major Australian public cultural institutions (1992–2019)

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Paolo Ferri ◽  
Shannon I.L. Sidaway ◽  
Garry D. Carnegie
Keyword(s):  
Cultural Heritage ◽  
Financial Reporting ◽  
Qualitative Content Analysis ◽  
Annual Reports ◽  
Cultural Institutions ◽  
Content Type ◽  
Monetary Valuation ◽  
For Profit ◽  
Documentary Sources ◽  
Negative Impacts

PurposeThe monetary valuation of cultural heritage of a selection of 16 major public, not-for-profit Australian cultural institutions is examined over a period of almost three decades (1992–2019) to understand how they have responded to the paradoxical tensions of heritage valuation for financial reporting purposes.Design/methodology/approachAccounting for cultural heritage is an intrinsically paradoxical practice; it involves a conflict of two opposite ways of attributing value: the traditional accounting and the heritage professionals (or curatorial) approaches. In analysing the annual reports and other documentary sources through qualitative content analysis, the study explores how different actors responded to the conceptual and technical contradictions posed by the monetary valuation of “heritage assets”, the accounting phraseology of accounting standards.FindingsFour phases emerge from the analysis undertaken of the empirical material, each characterised by a distinctive nature of the paradox, the institutional responses discerned and the outcomes. Although a persisting heterogeneity in the practice of accounting for cultural heritage is evident, responses by cultural institutions are shown to have minimised, so far, the negative impacts of monetary valuation in terms of commercialisation of deaccessioning decisions and distorted accountability.Originality/valueIn applying the theoretical lens of paradox theory in the context of the financial reporting of heritage, as assets, the study enhances an understanding of the challenges and responses by major public cultural institutions in a country that has led this development globally, providing insights to accounting standard setters arising from the accounting practices observed.

The Social Meaning of Credit, Value, and Finance

Money Talks ◽  
2017 ◽  
Author(s):  
Bruce G. Carruthers
Keyword(s):  
Financial Institutions ◽  
Purchasing Power ◽  
Social Meaning ◽  
Over The Counter ◽  
Monetary Valuation ◽  
The Social ◽  
The World ◽  
Formal Organizations ◽  
Home Mortgage

This chapter analyzes monetary differentiation within formal organizations, banks, and other financial institutions. It demonstrates how, despite the advantages of liquidity, organizational budgeting practices create incommensurable categorical distinctions, akin to earmarks, within fungible money. Many forms of individual and organizational credit similarly involve earmarks that constrain the use and allocation of future purchasing power. Credit is always earmarked in terms of who is a legitimate recipient but also often in terms of how the money can be used. A home mortgage, for example, can be used to purchase a house but not a car. The chapter also considers whether the financialization of the economy “has helped to monetize more of the world.” It finds instead unexpected limits to monetary valuation. In the contemporary over-the-counter derivatives market, for instance, participants often rely on non-price-based forms of valuation.

Sign in / Sign up

Export Citation Format

Share Document