Search results

1 – 10 of over 15000
To view the access options for this content please click here
Article
Publication date: 3 June 2020

Krystian Zawadzki

In the study, an attempt was made to estimate the social benefits resulting from three non-mega sporting events organized in Ergo Arena located on the border of two cities…

Abstract

Purpose

In the study, an attempt was made to estimate the social benefits resulting from three non-mega sporting events organized in Ergo Arena located on the border of two cities in Poland. By attributing a value to intangible social benefits, the intangible effect was determined and compared to the expenditure incurred in the construction of Ergo Arena Hall.

Design/methodology/approach

In order to value social intangible effects of three non-mega sporting events the Contingent Valuation Method was applied. Each time, the Contingent Valuation Method study covered the area of the two cities: Gdańsk and Sopot and was conducted on a sample of 500 people – 250 per city. The mean values of Willingness-to-Pay were used in order to obtain aggregate values of intangible benefits. Finally, the aggregate results were compared to expenditure incurred in connection with the construction of Ergo Arena Hall.

Findings

It appeared that intangible effects were eagerly valued by the residents of Gdańsk and Sopot. The aggregated value of all three sporting events was estimated at PLN 8.8 million. The obtained results question the equal share of both cities in financing but confirm that under certain circumstances, hosting non-mega sporting events may justify the use of public funds. In the case of the two cities, the reasonable reason for the employment of public means is the size of Gdańsk compared to Sopot.

Originality/value

The paper fulfils the research gap which arises regarding Willingness-to-Pay in estimating the intangible social effects of non-mega sporting events and considering these effects in the net effect valuation. The findings have implications for policy makers since they show to what extent it may be justified to use public means in order to host non-mega sporting events.

Details

International Journal of Event and Festival Management, vol. 11 no. 3
Type: Research Article
ISSN: 1758-2954

Keywords

To view the access options for this content please click here
Article
Publication date: 10 November 2014

David John Evans, Erhun Kula and Yoko Nagase

– The purpose of this paper is to estimate survey-based values of the elasticity of marginal social valuation of income, an important welfare parameter in cost-benefit analysis.

Abstract

Purpose

The purpose of this paper is to estimate survey-based values of the elasticity of marginal social valuation of income, an important welfare parameter in cost-benefit analysis.

Design/methodology/approach

A model relating equity welfare weights to income is developed, and iso-elasticity of marginal valuation of income is tested using survey data obtained from a sample of Turkish politicians who are instrumental in policy making.

Findings

Based on the survey feedback, formal statistical testing indicates that Turkish politicians, regardless of party allegiance, reveal preferences consistent with an iso-elastic marginal social valuation of income. The estimated value of the elasticity measure is close to unity for each of the political parties.

Originality/value

The originality of the paper is in terms of the survey method used to obtain from Turkish politicians estimates of the marginal social valuation of income. This welfare parameter is needed in the calculation of both social discount rates and welfare weights. The paper will be of interest to academics in the field of welfare economics as well as to practitioners involved in the appraisal of social projects and policies.

To view the access options for this content please click here
Article
Publication date: 12 December 2019

Sofian Arif Susanto and Anastasia Njo

This study aims to determine the causality of herding which was traced down to social and normative influences from first-home buyers represented by undergraduate students.

Abstract

Purpose

This study aims to determine the causality of herding which was traced down to social and normative influences from first-home buyers represented by undergraduate students.

Design/methodology/approach

The Perception Alignment Hypothesis was used in this experimental research, and was conducted on a sample of 125 undergraduates studying finance representing first-home buyers. The experiment provides the subjects property brochures in Surabaya to appraise a value that they see fit for purchase. The subjects were given both social- and normative-induced treatments separately using information cascade, and their valuation shifts were recorded. Their valuations were then divided into three sections under the treatment groups, consisting of initial, “social’ and “normative’ valuations.

Findings

In contrast to previous findings, the results showed that first-home buyers succumbed to both social and normative influences, causing them to herd. Further analysis of the credibility of information was conducted and it showed that the undergraduates were only prone to social influence, whereas other aspects regarding normative influences must be further researched.

Practical implications

The decline of homeownership on a global scale is concerning, especially when 60% of the market represents young adults under the age of 35. This implies that both the government and property developers may need to enact strict measures to regulate property purchases.

Originality/value

This is the first experimental study on herding of Surabaya, Indonesia, mainly focusing on human behavior and information cascade. Thus, this study could be a viable reflection to future policies in Indonesia being made to answer actual demands in the residential market.

Details

International Journal of Housing Markets and Analysis, vol. 13 no. 3
Type: Research Article
ISSN: 1753-8270

Keywords

To view the access options for this content please click here
Book part
Publication date: 8 January 2021

Ravi Abeywardana, Eugenia Ceballos Hunziker, Malcolm Cheetham, Sonja Haut, Christian Heller, Marina Prada, Nina Norjama, Marina Schurr, Lene Serpa, Andreza Souza, Pearl Tiwari, María Luisa Villa and Gabriele Wende

Founded in 2015, the Impact Valuation Roundtable (IVR) is an informal group of companies who wish to operationalise the emerging field of Impact Valuation. IVR…

Abstract

Founded in 2015, the Impact Valuation Roundtable (IVR) is an informal group of companies who wish to operationalise the emerging field of Impact Valuation. IVR participants consider Impact Valuation a groundbreaking approach to measure and value the effects of business activities on the health and well-being of people and the planet – in economic, environmental, social and human dimensions.

Impact Valuation can support large and small companies alike. It uses the language of business, supports strategic decision-making by adding fact-based insights into business operations and strengthens the communication and engagement of business with stakeholders. This is showcased in case studies from adidas, Ambuja Cements Limited, BASF, Cementos Argos, Maersk, Natura, Novartis, Syngenta and UPM.

Although there is an increased recognition of the benefits of Impact Valuation, comparability in the calculation and communication of the results of Impact Valuation assessments across companies is one of the key challenges to the credibility and uptake of the concept. The IVR supports and encourages the development of consistent frameworks and standards that strive for maximum commonality across industries, pragmatism in their application, and allow for scaling up.

As importance and interest rises, the IVR continues to welcome other practitioners willing to contribute knowledge and experience to accelerate convergence and mainstreaming of Impact Valuation.

To view the access options for this content please click here
Article
Publication date: 28 June 2011

Isaac Wasswa Katono

This study aims to construct a parsimonious instrument to measure social valuation in a collective setting using Uganda as an example.

Abstract

Purpose

This study aims to construct a parsimonious instrument to measure social valuation in a collective setting using Uganda as an example.

Design/methodology/approach

A triangulation technique was used in this study. Conversations with students, parents, teaching and non‐teaching staff at Uganda Christian University (UCU) main campus were carried out, as well as a rigorous review of the literature to gather an original set of items on social valuation. Content and face validity were carried out in order to get rid of redundant and ambiguous items. The remaining items were incorporated in a questionnaire which was pretested before being distributed to a convenience sample of 650 third‐year business students on the four campuses of UCU, each located in one of the four regions of Uganda.

Findings

Principal axis factoring by promax rotation extracted six oblique factors accounting for 56 percent of the variance, namely, teaching of entrepreneurship in schools, family, knowledge, institutions, perception of education, and culture. Confirmatory factor analysis found the measurement model to have acceptable fit statistics.

Research limitations/implications

The study used a convenience sample of students from four campuses of one institution in the country.

Practical implications

Government and other stakeholders in the entrepreneurial sector should use the instrument developed in this study as a guide in a bid to enhance entrepreneurship.

Originality/value

Existing measures of social valuation were designed in the West and may not be wholly applicable in a developing country setting. The instrument designed in this study in a collective setting should be a great contribution to entrepreneurial research and development in developing economies.

Details

Education + Training, vol. 53 no. 5
Type: Research Article
ISSN: 0040-0912

Keywords

To view the access options for this content please click here
Article
Publication date: 28 September 2018

Anthony Higham, Catherine Barlow, Erik Bichard and Adam Richards

The paper aims to assess the strengths and weaknesses of sustainable return on investment (SuROI) to determine it suitability as a means through which social value can be…

Downloads
1694

Abstract

Purpose

The paper aims to assess the strengths and weaknesses of sustainable return on investment (SuROI) to determine it suitability as a means through which social value can be predicted in line with public procurement directives and the Social Value Act, whilst at the same time as fitting the developer’s business model and CSR commitments.

Design/methodology/approach

Using a multi-case design, findings from a comprehensive evaluation of three major housing-led mixed-use regeneration developments are presented. The three case study locations were selected on the basis of the developer’s strong commitment to place-making and social sustainability. Together with a strong strategic desire to reposition their organisation away from the traditional business as usual profit-led model.

Findings

Whilst the social return on investment methodology is applicable to the charity sector, its use in the built environment is highly questionable. When applying the model to the mixed-use housing projects, the authors identified a number of technical limitations to the model, inter alia a lack of suitable proxies and especially proxies relating to the built environment for the valuation of identified outcomes; the use of monetisation as a evaluating measure which did not support some of the more abstract or softer benefits identified; problems collecting, identifying and evaluating data to inform the model given the complexity and scale of the project; and significant time and expense associated with the valuation and finally the inability to benchmark the report on completion. These findings have implications for the social housing providers and local authorities looking to use SuROI to evaluate potential built environment projects.

Originality/value

The paper offers unique insights into the viability of using existing social value measurement methodologies. The paper identifies the significant limitations associated with the SuROI methodology.

Details

Journal of Facilities Management, vol. 16 no. 3
Type: Research Article
ISSN: 1472-5967

Keywords

To view the access options for this content please click here
Article
Publication date: 1 January 2003

Santiago García González, Ana Gessa Perera and Francisco Aguado Correa

Firms are increasingly aware of environmental degradation and this has led many of them to include “quality, safety and protecting the environment” among their competitive…

Downloads
1418

Abstract

Firms are increasingly aware of environmental degradation and this has led many of them to include “quality, safety and protecting the environment” among their competitive priorities. This also involves large capital investments aimed at reducing the environmental impact of their manufacturing activities. This study suggests a method for estimating the return of manufacturing investments with environmental effects (costs and benefits). It considers the value of the asset being preserved as a consequence of a firm’s social responsibility. The practical case studied is Huelva’s industrial area.

Details

International Journal of Operations & Production Management, vol. 23 no. 1
Type: Research Article
ISSN: 0144-3577

Keywords

To view the access options for this content please click here
Article
Publication date: 8 May 2018

Maurizio d’Amato

Valuation is a professional activity based on international and local standards. In the valuation process more than one method can be modified. In this case, a final…

Abstract

Purpose

Valuation is a professional activity based on international and local standards. In the valuation process more than one method can be modified. In this case, a final reconciliation of different opinions of value may be required. It is a matter of fact that the final result of these different valuation methods may vary. Therefore, in the final part of the valuation process, the valuer is required to assign a weight to the different methodologies to reach an appropriate opinion of value. This process is essentially based on valuer’s expertise. This paper aims to propose an automatic procedure of calculating the weights to assist the valuer in the valuation process.

Design/methodology/approach

The work provides methodologies to assign the weights through simple mathematical procedures that can be used to support subjective judgement in the valuation process. The models proposed can be applied to other phases of reconciliation inside the valuation process and are based on the collection of previous property data in the same market segment.

Findings

Two different methodologies are proposed to support valuers in the valuation process and in particular in the phase of the choice of the weights for final reconciliation purposes.

Research limitations/implications

The implication is the development of an information system to support the appraiser in providing these weights. The models proposed are only two but represent a future, much larger field of research.

Practical implications

The models may help in determining more consistent valuation reports.

Social implications

Consistent valuation reports for the determination of mortgage lending value may contribute to the stability of the social and economic system, especially after the 2008 non-agency mortgage crisis.

Originality/value

These are original models proposed in literature for such kind of problems.

Details

Journal of European Real Estate Research, vol. 11 no. 1
Type: Research Article
ISSN: 1753-9269

Keywords

To view the access options for this content please click here
Article
Publication date: 21 November 2018

Arpita Agnihotri, Saurabh Bhattacharya and Satya Prasad V.K.

The purpose of this study is to examine the impact of multiple brand celebrity endorsement strategies on firms’ performance and different attributes associated with…

Downloads
1147

Abstract

Purpose

The purpose of this study is to examine the impact of multiple brand celebrity endorsement strategies on firms’ performance and different attributes associated with celebrities on firms’ performance. In this regard, the present study specifically explores the role of celebrity reputation and experience, as well as social media as a promotion platform in influencing the economic effectiveness of multiple brand endorsement strategies, i.e. proportion of brands endorsed in a firms’ brand portfolio.

Design/methodology/approach

Study is based on instrumental variable regression analysis approach and is conducted in one of the emerging markets, i.e. India.

Findings

The findings indicate that firms’ market valuations increase as its proportion of brands endorsed by celebrities increases. Furthermore, popularity reputation of celebrity also influences market valuation, and relationship is positively moderated by celebrity’s experience.

Originality/value

Extant studies have considered one endorsement news of a firm at a time. However, how total proportion of firms’ brand endorsed by celebrities impacts its performance has not been investigated. Furthermore, impact of celebrity traits has been examined only in consumer behavior studies and has been rarely investigated in context of firms’ economic performance.

Details

Journal of Product & Brand Management, vol. 27 no. 5
Type: Research Article
ISSN: 1061-0421

Keywords

To view the access options for this content please click here
Book part
Publication date: 8 January 2021

Bill Baue

When it comes to measuring and managing corporate impacts on the multiple capitals (financial, natural, social, human and built), Impact Management and Impact Valuation

Abstract

When it comes to measuring and managing corporate impacts on the multiple capitals (financial, natural, social, human and built), Impact Management and Impact Valuation have emerged as best practices in the interrelated fields of corporate social responsibility and Environment, Social and Governance (ESG) investing. These practices have two significant shortcomings that are largely unacknowledged: they don't attend to ecological and social thresholds (or the carrying capacities of capitals); and they assume impacts on the various capitals are fungible, and therefore impacts on one capital can substitute for impacts on another capital, which clearly does not reflect reality.

This chapter proposes solutions to both gaps: respect ‘critical capital’ thresholds to retain vital capital stocks necessary to fuel continuing flows of value (and avoid systemic collapses of capital resources), and aggregate impacts across capitals via the common factor of ‘progress towards sustainability’. These steps will mature the fields towards the creation of System Value, where capitals are continually regenerated sustainably in ways that support healthy living systems.

1 – 10 of over 15000