Abstract
This article analyses the differences and similarities in a polymic between Y.Kozir (Chairman of the Expert Advisory Group of the RSA) and Prof. Panferov which entertained and amused the national business valuation community throughout March and April 2008 and issued in many public letters and refutations on each side aired on the appraiser.ru website. The dispute centered on the hot button issue whether the discount rate risk premia should include additional inflationary adjusters over and above those implicitly found in riskless rate, so as not to double-count or omit some inflationary impacts. The contention is made that such hair-spliting does not scrape, nor is producive of resolution to an underlying true paradox: whether it is truer to live to treat of the world with real (netted of inflation) parameters? Whether we would not be lost in a maze of double translation from the nominal to real world and back - such that any forecasting inconsistencies compound two-fold. And what is the worth of such arguement with respect to a single or homogenous period model such as CAPM around with the dispute has been partially revolving.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
