This paper examines which valuation approaches financial analysts use to value a company and whether the chosen valuation approach affects the target price accuracy. To address these questions, we conduct content analyses of 867 hand-collected analyst reports on German publicly listed companies...

It is acknowledged that economic evaluation methods as they have been developed for Health Technology Assessment do not capture all the costs and benefits relevant to the assessment of public health interventions. This paper reviews methods that could be employed to measure and value the broader...

Purpose – The aims of this paper are to: provide a systematic overview of various publications and international research efforts undertaken to integrate sustainability considerations into the property valuation process; summarize the key results of these publications and research efforts;...

Purpose – There is a continuing discussion about whether German valuation methods are inaccurate and inferior to the British standard, and the enduring efforts for a European and internationally standardised valuation method and value definitions intensify this discussion. The German valuation...

Purpose – The purpose of this paper is to question whether traditional cost approaches apply to the valuation of an airport now that they are no longer public utilities but very much commercial enterprises. Design/methodology/approach – The research discusses the business model, the...

In the age of knowledge, intangible assets have a higher strategic importance than corporal assets. It was found that the market value of the entity is greater than its carrying amount, the difference being due to intangible items: Market Value - Book Value = Intangible Assets Intangible assets...

This paper shows that the three valuation methods (if used correctly) always yield the same result. The most striking result of this paper is that the Net Present Value of the tax shield due to interest payments (in the APV approach) should be calculated as follows in order to derive an accurate...

This paper provides guidelines to evaluate the appropriateness of 23 different valuation methods for estimating the present value of tax shields. We first show that the value of tax shields is the difference between the present values of two different cash flows with their own risks: the present...