IMPLICIT V EXPLICIT VALUATION AND INVESTMENT ANALYSIS

Abstract

This paper draws on the work of Miles, Harker and Mason to illustrate how inconsistent the valuation profession is about the fundamental requirement to present information in a consistent and acceptable manner to its clients. Investors in other markets are not confronted with the same lack of consistency, so, unless the current random approach is corrected, the credibility of the profession will come in for further criticism.

Citation

MACKMIN, D. (1988), "IMPLICIT V EXPLICIT VALUATION AND INVESTMENT ANALYSIS", Journal of Valuation, Vol. 6 No. 2, pp. 148-153. https://doi.org/10.1108/eb008025