Thesis (B.Sc)--University of Hong Kong, 2004. / Includes bibliographical references (p. 134-139)

Thesis (B.Sc)--University of Hong Kong, 2004. / Includes bibliographical references (p. 99-103)

Thesis (M.A.)--Virginia Polytechnic Institute and State University, 1992. / Vita. Abstract. Includes bibliographical references (leaves 51-52). Also available via the Internet.

Two problems were considered in this study. The first was of selecting a capitalization rate under the traditional approach and the second was the use and accuracy of direct conversion ratios, particularly gross income multipliers. The purpose of the study was to resolve any inconsistencies and irrationalities which may exist in appraisal theory and, to the extent that direct conversion ratios are proven useful, to establish certain guidelines to facilitate their use. The various methods of selecting capitalization rates were discussed and, where justified, criticized. Then, theoretical aspects of gross income multipliers were considered. After a brief discussion of the data and relevant statistical concepts, extensive empirical analysis, using regression and correlation models as well as the average multiplier, followed. Assuming that the objective of a capitalization device is to predict a market value, the most probable selling price, it follows that capitalization rates should be market determined. It was found that the traditional methods of rate selection did not meet the criterion of market determination. The impossibilities of selecting rates from the market were stressed. The original advantages of gross income multipliers were simplicity and data availability. Despite the traditional criticisms, the statistical analysis demonstrated another advantage, accuracy. Stratification by basic structural type, location, number of suites and income per suite resulted in average percentage differences between actual and estimated values as low as three per cent. Other results were within acceptable error limitations. The findings with regard to capitalization rates illustrate that inconsistencies and irrationalities exist in appraisal theory. The use of the traditional methods of selecting capitalization rates should be terminated as they do not result in market determined rates. The findings with regard to gross income multipliers illustrate that they are capable of predicting values very accurately in many cases. Their use is to be encouraged where it can be shown that they are accurate. / Business, Sauder School of / Graduate

M.Comm. / Intangible assets are increasingly becoming the critical determinant of value creation and future profitability of most businesses. There is a clear distinction between the accounting treatment of physical assets and are reported on the firm’s balance sheets, but intangible assets are by large written off in the income statement, along with regular expenses such as wages, rents and interest. This distorted treatment of intangibles in an accounting sense, has dire consequences for managers, investors and policymakers relying on financial information, thus giving an extremely limited view of a company’s potential for value creation and are virtually worthless as a basis for assessing the value of intangible assets as a whole. This paper is limited to the valuation of intellectual property and intangible assets not reflected on the balance sheet and is primarily aimed at researching, exploring and identifying various intangible asset valuation techniques used to make investment decisions; the advantages and disadvantages of each valuation method so identified; identifying which one or more of the valuation methods identified is the most appropriate measure to valuate intangible assets; identifying the accuracy of the most appropriate valuation method selected as compared with the other methods. The problems posed by intangible assets appear to be based on two levels. The first is the difficulty to identify, collect and analyse data regarding intangible assets. The second overlapping level is the lack of external financial reporting on intangibles. The problem herein manifests itself in the lack of recognition of the current accounting principles, thus resulting in intangible assets not being systematically reported in financial statements leading to a lopsided view of the assets employed by a company to generate revenues.

Typescript, etc. / Digitized by Kansas State University Libraries

Cost-benefit analysis has long been a dominant method of policy analysis. When applied to policies affecting the environment, however, it faced a serious problem. Many policies exert environmental impacts that are external to market transactions, so the values of these impacts resist monetary measurement. This shortcoming in cost-benefit analysis led some researchers to develop indirect and nonmarket methods of valuing environmental goods monetarily. They include the travel cost method, hedonic pricing, and contingent valuation. The popularity of these methods has grown since their inceptions, but so have controversies over their use. Economists and others have taken all sides of the debate over the validity of the methods and their normative implications. These methods popularity and controversies necessitate their critical evaluation. This research fills this need through an extensive meta-analysis of 228 existing environmental valuation studies representing the contemporary practices in each method, and capturing varieties of environmental goods and settings. The analysis tested the convergent validity of the three valuation methods, and measured the moderating effects of select variables. The results show that effect sizes of the hedonic pricing and travel cost methods converge, but contingent valuation produces effect sizes that average 40% to 55% less than the other two methods. This difference varies significantly with the environment good being valued. Other significant moderating variables include the magnitude of the environmental change, the description of the change, and the location of the study. The year of study does not significantly moderate effect sizes. These results supplement descriptive and normative frameworks for environmental valuation described by Barbier (1994), Navrud and Pruckner (1997), and Norton (1995). When the evidence and these frameworks are considered together, the defensible uses of these three valuation methods become very limited. Valuation efforts should focus on multiple dimensions of environmental value, besides economic dimensions, that reflect ecological health and public concerns for the environment.

Thesis (Ph. D.)--Ohio State University, 2003. / Title from first page of PDF file. Document formatted into pages; contains xii, 135 p.: ill. Includes abstract and vita. Co-advisors: Peter D. Easton and Kirk L. Philipich, Dept. of Accounting and Management Information Systems. Includes bibliographical references (p. 127-135).

Thesis (Ph. D.)--University of Wisconsin--Madison, 1955. / Typescript. Vita. eContent provider-neutral record in process. Description based on print version record. Includes bibliographical references (leaves 467-474).

Grasslands provide a number of goods and services that benefit humans, but only a few have a market value. Despite the benefits provided, native grasslands continue to be degraded. Lack of a proper valuation, including a monetary value of nonmarket goods and services, has become one of the factors contributing to this trend. The objective of this research was to quantify the cost of increasing provision of ecosystem services from grasslands in the Gulf Coastal Plains and Ozarks Landscape Conservation Cooperative geographic area of the United States and identify effective landowner engagement strategies for their provision. A contingent valuation method (CVM) was used to estimate landowner willingness to accept (WTA) compensation in exchange for implementing management practices preserving grassland ecosystems. The mean WTA compensation level was $290.10 per acre per year during a 10-year contract. Results will be helpful in quantifying future funding levels necessary for implementation of coordinated conservation activities in grasslands and other ecosystems and developing conservation programs in the United States and other countries.