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The purpose of this study is to showcase that the valuation of startups is still considered to be more “art than science”. Moreover, such non-rigorous approaches often lead to valuations, which turn out to be too high, which in turn has become a well-known phenomenon to a broader audience due to shining examples such as We Work. This is reason enough to revisit the important topic of where we stand today with startup valuation procedures and methodologies.

Literature synthesis and exploratory analysis.

While some studies describe sound results about how to assess startups, what the authors found was that many questions remain open or have not been covered at all. This is the reason why the authors needed to apply a substantial amount of reasoning in the analysis of studies, which do not exactly deal with startup companies. The authors provided some interesting impulses for future research.

Based on an original overview of the current state of research about the valuation of startup companies, this paper makes the following principal contribution to both the literature and practice: on the one hand, the authors assess four impact factors on startup values critically; on the other, the authors provide an outlook on promising future research avenues.

The debriefing is a procedure based on intra-team feedback, which has frequently been applied in university formation in health but has been less used in business. The aim of this research is to analyse best practices in the actual implementation of debriefing in organisations, based on criteria the guidelines for carrying out each stage established in the procedure.

To achieve these goals, working teams from different organisations carried out 19 group-debriefing sessions on an authentic work problem. These sessions were observed and analysed following a qualitative approach.

After observing a debriefing session in 19 organisations, four categories related to its implementation have been identified: Self-analysis, information, planning and orientation of the development of the team.

It is important to mention some limitations to this work. The major limitation was the lack of published literature related to the debriefing in the area of organisational management. The qualitative and exploratory nature of the study limits the generalisation of the results.

The research has practical implications as the characterisation and description of each phase favours the transfer to implement the debriefing technique adequately in different types of organisations.

It has been observed that all forms of debriefing have a common purpose in learning and, team and employee development, due to the powerful transferability and usefulness of debriefing in different contexts. Therefore, knowing the correct use of debriefing is a breakthrough in this area. In addition, including this type of practice will not just facilitate a better performance, it will also help teams to learn to work in a team from their own experiences.

It has been characterised by the process of debriefing from the correct implementation of each phase through the analysis of the narratives that arise in the debriefing sessions carried out.

匯報是一個基於團隊內部回饋的程序, 它常見於大學組建的醫療衛生方面, 在商業上則較少使用。本研究擬基於匯報程序中所建立的每個階段, 來分析在組織內實際進行匯報的典範實務。

為達至研究目標, 來自不同組織的工作團隊, 就一個真實的工作問題進行了19個匯報會議。研究人員觀察這些會議, 並以定性研究法進行探討和分析。

研究人員觀察於19個組織進行的匯報會議後, 找出了四個進行匯報會議的範疇, 自我分析、資料、計劃和團隊發展的取向。

本研究提供了實務方面的啟示, 因研究結果確認了匯報每個階段的特徵的描述, 以及每個階段的描述, 這會幫助在不同種類的組織內進行匯報會議時, 舉行匯報使用之技巧得以靈活調動, 以發揮各技巧的最佳效果。

研究人員分析有關的匯報會議內的敘述, 並從會議每個階段的正確執行, 找出了匯報程序的各個特徵。

Information verification is an important factor in commercial valuation practice. Valuers use their professional autonomy to decide on the level of verification required, thereby creating an opportunity for client-related judgement bias in valuation. The purpose of this paper is to assess the manifestation of client attachment risks in information verification.

A case-based questionnaire was used to retrieve data from 290 commercial valuation professionals in the Netherlands, providing a 15 per cent response rate of the Dutch commercial valuation population. Descriptive and inferential statistics have been used to test research hypotheses involving relations between information verification and professional features that may indicate client attachment such as an executive job level and brokerage experience.

The results reveal that valuers acting at partner level within their organisation obtain lower scores on information verification compared to lower-ranked valuers. Also, brokerage experience correlates negatively to information verification of valuation professionals. Both findings have statistical significance.

The results reflect valuers’ reasoning behaviour rather than actual behaviour. Replication of findings through experimental design will contribute to research validity.

Maintaining close client contact in a competitive environment is important for business continuity yet may foster client attachment. The associated downside risks in valuation practice call for higher awareness of (subconscious) client influence and the development of attitudinal scepticism in valuer training programmes.

This paper is one of the few that explore possible sources of valuer judgement bias by relating client-friendly valuer features to a key area of valuation i.e. information verification.

The way to measure the value of an enterprise’s R&D investments remains elusive for theoretical and empirical study on innovation economics. The paper aims to discuss this issue.

This paper expands the asset-value model pioneered by Griliches (1981) and applies it for the first time to the Chinese stock market to calculate the value of R&D investment instilled by Chinese manufacturing listed companies (CMLCs) from 2003 to 2014.

The authors find that: the assets-value model can better explain the enterprise value composition of CMLCs; with equal input, the value of R&D is higher than that of tangible assets, and lower than that of organizational assets; compared with the developed countries, the R&D value of CMLCs is lower; and the R&D value of CMLCs saw a downward trend from 2007 to 2014.

Furthermore, by rationally estimating the value of organizational assets and non-tradable shares, and innovatively introducing semi-annual momentum indicators from the perspective of behavioral finance to control the influence of investor sentiment on enterprise value, this paper tries to develop the asset-value model and provides a feasible solution to the problem of measuring the value of Chinese enterprises’ R&D investment.

Within the stream of research on public sector accounting standards, heritage asset accounting represents a difficult and challenging issue. This paper intends to join the debate on heritage reporting by carrying out a critical review of the Consultation Paper (CP) “Financial Reporting for Heritage in the Public Sector” issued by the International Public Sector Accounting Standards Board (IPSASB) in order to highlight its strengths and weaknesses and to make recommendations.

To this end, the current study adopts document analysis as a qualitative research method by referring to Italy as a typical and critical case study. Moreover, the authors actively took part in the Italian working group on heritage assets reporting, so they are well-informed people about the Italian point of view as well as the broad discussion underpinning the Italian response.

Evidence demonstrates that, although the proposals included in the CP represent a new step towards an organic regulation of heritage asset reporting, if these preliminary views are confronted with the reality of an emblematic context, as in the Italian case, much room for improvement remains regarding the definition, recognition, measurement and disclosure of such assets.

The originality of the paper lies in its contribution to overcoming the current controversial aspects of heritage assets reporting and the issuing of an accounting standard. In doing so, the authors also attempt to answer the call made by Anessi-Pessina et al. (2019) to investigate in detail an individual country experience to better understand the state of the art in national and international accounting standards on heritage assets.

From the buying club’s perspective, the transfer of a player can be interpreted as an investment from which the club expects uncertain future benefits. This paper aims to develop a decision-oriented approach for the valuation of football players that could theoretically help clubs determine the subjective value of investing in a player to assess its potential economic advantage.

We build on a semi-investment-theoretical risk-value model and elaborate an approach that can be applied in imperfect markets under uncertainty. Furthermore, we illustrate the valuation process with a numerical example based on fictitious data. Due to this explicitly intended decision support, our approach differs fundamentally from a large part of the literature, which is empirically based and attempts to explain observable figures through various influencing factors.

We propose a semi-investment-theoretical valuation approach that is based on a two-step model, namely, a first valuation at the club level and a final calculation to determine the decision value for an individual player. In contrast to the previous literature, we do not rely on an econometric framework that attempts to explain observable past variables but rather present a general, forward-looking decision model that can support managers in their investment decisions.

This approach is the first to show managers how to make an economically rational investment decision by determining the maximum payable price. Nevertheless, there is no normative requirement for the decision-maker. The club will obviously have to supplement the calculus with nonfinancial objectives. Overall, our paper can constitute a first step toward decision-oriented player valuation and for theoretical comparison with practical investment decisions in football clubs, which obviously take into account other specific sports team decisions.

This study aims to explore the calculations and valuations that unfold in everyday practices within social care settings. Specifically, the paper concerns the role of accounting in dealing with multiple calculable and non-calculable spaces within the case management process. The study sheds light on the multiplicity produced in constructing the client as an object through the calculations and valuations embedded in the costing and caring practices in social work.

This is a qualitative case study in a Swedish social care organisation, with a specific focus on the calculations and valuations within the case management process. The data have been gathered from 20 interviews with social workers, team leaders, managers and a management accountant, along with more than 36 h of on-site observations and internal organisational documents, including policy documents, guidelines and procedural lists.

The case management process involves interconnected practices in constructing the client as an object. While monetary calculations and those associated with worth are embedded in costing and caring practices, they interact and proliferate in various ways. Three elements are found: transforming service units into centres of calculation, constructing the accounts of calculation and establishing the cost-value calculations. Calculations and valuations are actuated in these elements in describing the need, matching the case with the unit and caseworker and deciding on the measure. The objectification of the client entails the construction of accounts, for example, ongoing qualifications, categorisations and groupings of units, juridical frameworks, case types, needs and measures. As an object multiple, the client becomes different objects at different stages, challenging the establishment accounts, and thus producing a range of calculations and valuations. Such diversity in calculations concomitantly produces more calculations to represent the present and absent multiple facets of the client, resulting in a multiplicity of costing and caring.

The study might flag up for practitioners the possible risks and unintended consequences of depending too much on fixed guidelines and (performance) indicators since social work involves object multiples, which are always in diversity and changeable in situ. Considering the multiple dimensions within the specific contexts could thus be helpful to mitigate such risks in the evaluation of social care processes and the design of (performance) metrics.

This study contributes to the literature on accountingisation by extending the concept as a part of ongoing organisational practices, materialised within the calculations of money and worth in everyday social care. Besides demonstrating their reconsolidation, this study shows a multiplicity of costing and caring practices depending on the way the client is constructed, resulting in the proliferation of accounting(s) and ultimately accountingisation of social work.

This paper studies the interactive valuation discourses of an online user community (transfermarkt.de) that seeks to determine market values for soccer players. Despite their seemingly casual nature, these values have featured in newspapers, transfer negotiations, academic research, and capital market communication – and have thus become reified.

The paper employs netnographic research methodology to collect and thematically analyze a wide range of user entries on the platform. These entries are studied using theoretical insights from the sociology of quantification and valuation.

The analysis reveals how values are constructed in constant interaction between value-proposing users and value-justifying “experts.” This dynamic form of relational valuation positions players relative to one another as well as to actual transactions on the transfer market. In the absence of authoritative guidelines, it is this possibility and affordance for interaction that enacts a coherent valuation regime. The paper further reveals the platform's response to a disruptive event, which risked bringing the user-expert dynamics to a halt, requiring intervention from the platform to repair its valuation frame.

The paper responds to increased scholarly interests in the valuation of professional athletes. It contributes to the extant literature on valuation, first, by analyzing the dynamic valuation work that feeds into the social construction of values and, second, by studying platform participation and user interaction in a socially engineered online space.

The purpose of this paper is to present a review of the student managed investment fund at the School of Business, University of Connecticut.

The authors trace the history and growth of the fund and identify the special features and dimensions that have contributed to its success.

The operation of the fund is a constantly evolving program and the authors discuss the important changes and improvements made in the program since its inception in the early 2000s in response to growth in the number of finance majors, new career opportunities in the field of investments and most importantly, the strength of capital markets and the development of new instruments in the capital markets. The authors also discuss the common features of over 300 student funds in the USA. The authors close with a discussion of the limitations and constraints the fund advisors at, and possibly, at other schools, face in the management and administration of the fund, and also what developments and adjustments the authors expect to see in these funds in the future.

The authors combine extensive analyses of fund history and performance. The authors also provide some suggestions for the future direction and priorities for student funds.

The purpose of this paper is to explore the formation and composition of “regions” as places of care, both empirically and conceptually.

This paper draws on action-oriented research involving experiments aimed at designing, implementing and evaluating promising solutions to the entwined problems of a burgeoning elderly population and an increasing shortage of medical staff. It draws on ethnographic research conducted in 14 administrative areas in the Netherlands, a total of 273 in-depth interviews and over 1,000 h of observations.

This research challenges the understanding of a healthcare region as a clearly bounded topological area. It shows that organizations and professionals collaborate in a variety of different networks, some conterminous with the administrative region established by policymakers and others not. These networks are by nature unstable and dynamic. Attempts to form new regional collaborations with neighbouring organizations are complicated by existing healthcare governance and accountability structures that position organizations as competitors.

Policymakers should take the pre-established partnerships of healthcare organizations into account before delineating the area in which regionalization is meant to take place. A better alignment of governance and accountability structures is also needed for regionalization to occur in healthcare.

This paper combines insights from valuation studies with sociogeographical literature and provides a framework for understanding the assembling and disassembling of “regions”.