Search results
1 – 10 of over 2000The unsustainable management of ecosystem services often arises as a result of the non-recognition of the multiple benefits or under-valuation of ecosystem services. The chapter…
Abstract
The unsustainable management of ecosystem services often arises as a result of the non-recognition of the multiple benefits or under-valuation of ecosystem services. The chapter looks at economic valuation as an essential tool in ecosystem management decision-making and policy. It discusses the economics of ecosystem services, explains the motivations for economic valuation, describes economic valuation methods, and examines the limitations of economic valuation. It emphasizes that economic valuation can be a powerful and convincing tool for placing ecosystems on the agenda of planners and decision-makers.
Details
Keywords
Lucio Cassia, Stefano Paleari and Silvio Vismara
In this chapter we study the peer comparable approach used for the valuation of companies that went public on the Italian Nuovo Mercato. In Italy, IPO prospectuses often report…
Abstract
In this chapter we study the peer comparable approach used for the valuation of companies that went public on the Italian Nuovo Mercato. In Italy, IPO prospectuses often report the valuation methods used by investment banks. This allows us to analyze the accuracy of “real-world” valuation estimates. We show that underwriters rely on price-to-book and price-earnings multiples. The valuation estimates generated by these multiples are closest to offer prices. Conversely, when using enterprise value ratios comparable firms’ multiples are typically higher than those of the firms going public. We argue that underwriters have the possibility to select comparables that make their valuations look conservative.
Benedetta Lucchitta and Edoardo Croci
The economic valuation of the ecosystem services (ES) provided by nature-based solutions in cities is not an easy task. In fact, various environmental goods and services do not…
Abstract
The economic valuation of the ecosystem services (ES) provided by nature-based solutions in cities is not an easy task. In fact, various environmental goods and services do not have a market price that allows to quantify their value. This leads to an underestimation of the value of nature in cities. As a result, their critical contributions are not considered in public, corporate, and individual decision-making. The logic behind ecosystem valuation is to unveil the complexities of socioecological relationships, to make explicit how human decisions would affect ES values, and to express these value changes in units. This will allow considering the benefits provided by ES in public decision-making processes. The contribution aims to identify and analyze the most used methodologies adopted at the urban level for the valuation of ES. In total, six methodologies have been analyzed for the valuation of the provisioning, regulating, cultural, and supporting services. Finally, an interpretation framework has been defined to summarize the main findings.
Details
Keywords
Mauricio Ballesteros-Ruiz and Felix Florencio Cardenas-del Castillo
The chapter provides a practical guide to identify and define different funding sources for entrepreneurial and innovation endeavors, including a methodology to describe return on…
Abstract
The chapter provides a practical guide to identify and define different funding sources for entrepreneurial and innovation endeavors, including a methodology to describe return on investment expectations from funding sources. Also, the authors provide recommended key performance indicators and valuation methods when pitching to potential investors.
Details
Keywords
Thomas R. Weirich and Natalie Tatiana Churyk
The accelerated pace of change in the global economy and capital markets along with the complexity of transactions and financial reporting that involve applying fair value…
Abstract
The accelerated pace of change in the global economy and capital markets along with the complexity of transactions and financial reporting that involve applying fair value measurements (FVM) is a major third-party user concern. The 2008 financial crisis highlighted risks that investors are exposed to when making FVM-related capital allocations. Accounting estimates often involve subjective assumptions and measurement uncertainty, increasing potential management bias (Choudhary, 2011; Ramanna & Watts, 2012). FVMs are of critical importance to the reliability of the financial statements. Therefore, the purpose of this chapter is to inform educators of the possible need to evaluate their curriculum as to coverage of FVM topics. The support for this evaluation is based on our attempt to: (1) evaluate the extent of reported FVM-related deficiencies with reference to regulatory bodies’ findings of significant deficiencies in FVM; (2) examine the use of FVM specialists; (3) determine if colleges and universities are keeping pace with FVM demands; (4) list the Uniform CPA Examination Blueprint FVM testing areas; and (5) provide curricular FVM topic recommendations.
Details
Keywords
Mirjam Leloux, Peter van der Sijde and Aard Groen
Conventional models for the business valuation of technology are usually financially oriented and only measure economic value. Several of these financially oriented approaches…
Abstract
Conventional models for the business valuation of technology are usually financially oriented and only measure economic value. Several of these financially oriented approaches have been reviewed by Leloux and Groen (2007). Current monetary (financial) valuation methods for technology include cost-based methods, income-based methods and market-based methods (Martin, 1999; Goldheim, Slowinski, Joseph, Edward, & John, 2005).