Value Of Assets Research Articles

The Role of External and Internal Factors in Determining the NAV Movement of Sharia Mutual Funds

This study investigates the factors influencing the performance of Islamic Balanced Mutual Funds in Indonesia, with a specific focus on fluctuations in Net Asset Value (NAV). The declining growth of these funds is hypothesized to be associated with a weakening macroeconomic environment. External variables considered in this study include inflation and the Bank Indonesia benchmark interest rate (BI Rate), while internal variables encompass trading volume and transaction timing. The objective is to examine the impact of both internal and external factors on the NAV performance of Islamic Balanced Mutual Funds. The sample consists of two actively managed Islamic mutual funds operating between 2016 and 2023. Panel regression analysis is employed to evaluate the relationships. The findings reveal that internal and external factors jointly influence NAV performance. Specifically, trading volume and transaction timing exhibit statistically significant effects, while inflation and the BI Rate do not show a significant impact on NAV. These results suggest that fund performance is more sensitive to internal market dynamics than to macroeconomic indicators.

Akuntansi Aktiva Tetap pada PDAM Mual Na Tio Kabupaten Tapanuli Utara

The purpose of this study was to determine whether the accounting treatment of fixed assets at the Regional Drinking Water Company (PDAM) Mual Na Tio North Tapanuli Regency is in accordance with the Financial Accounting Standards for Entities Without Public Accountability (SAK ETAP) Chapter 15. This research uses Primary data, namely data obtained or collected by researchers directly from the research site in the form of financial statements in 2020, and the data analysis method used in this research is descriptive and comparative analysis method. The steps taken in this research is to collect the supporting data needed to ensure the accuracy and correctness of the recording of assets, then analysed the accounting treatment of fixed assets and compared the accounting treatment of fixed assets with the Financial Accounting Standards of Entities Without Public Accountability (SAK ETAP) to see the suitability of the accounting treatment of fixed assets made by the company with the Financial Accounting Standards of Entities Without Public Accountability (SAK ETAP). The results of this study indicate that the accounting treatment of fixed assets at the Regional Drinking Water Company (PDAM) Mual Na Tio North Tapanuli Regency has not fully implemented the Accounting Standards for Entities Without Public Accountability (SAK - ETAP) Chapter 15 in preparing the company's financial statements, this can be seen from the recording of fixed assets on land and buildings. Where the fixed asset value of the building is not included in the Balance Sheet and Notes to Financial Statements (CALK) section of the company's fixed asset list.

Shared hazards, unequal outcomes: income-driven inequities in disaster risk

Climate-induced hazards exert uneven impacts on communities. However, conventional risk models rarely consider these disparities, which are critical for informing risk reduction decisions. Instead, they quantify risk solely based on the value of assets at risk, without accounting for how communities are differentially exposed and vulnerable to particular hazards. This has significant consequences for low-income populations, who tend to suffer most from disasters. Our study introduces an equity-sensitive framework that considers inequities in exposure and vulnerability, demonstrating how these inequities compound into well-being risks. We apply this framework in a large-scale study of coastal flooding and sea-level rise risk in the Philippines, highlighting both quantitative and spatial variations in asset and well-being risks. Findings indicate that accounting for income-driven inequities yields a more comprehensive understanding of coastal flood risks across groups. This framework is adaptable for other hazards and contexts, and aims to promote more equitable disaster risk reduction outcomes.

Perceived Level of Awareness and Implementation of Accounting Practices among the Barangay Treasurers in the Municipality of Bayombong

This paper highlights the importance of being aware and properly implementing accounting practices in barangays specifically in the municipality of Bayombong. Barangay Treasurers manage funds but often face challenges due to a lack of qualifications. Government efforts, such as the LGU Integrated Financial Tool (LIFT) System, aim to improve transparency and financial reporting, ensuring efficient resource use and good governance in barangays. The primary objective of this study is to create a basis for the improvement of awareness and implementation of the accounting practices of the barangays through training programs with regard to the best practices for effective financial management and for the development and sustainability of the 25 barangays. The study used a descriptive-comparative-correlational research design, combining qualitative and quantitative approaches to determine barangay treasurers' perceived level of awareness and implementation of accounting practices in the Municipality of Bayombong. A purposive sampling technique was used to select the respondents. A standardized survey questionnaire collected data on demographic information, measures of awareness and implementation of accounting practices (using a Likert scale), and open-ended questions regarding challenges encountered. The study found that barangay treasurers generally have high awareness and implementation of accounting practices, though improvement is needed in areas like cost accounting and asset valuation. No significant differences were observed based on age, service length, or education, suggesting standardized training levels the field. A positive correlation between awareness and implementation was noted, while challenges on the implementation of accounting practices included technology, time management, and knowledge gaps, highlighting the need for targeted training. The study concludes that while treasurers demonstrate high accounting awareness and implementation, sustaining high levels in specific areas like cost accounting is necessary. It is recommended to hold specific training programs focusing on advanced technologies and accounting practices, followed by evaluations to monitor progress and address ongoing challenges, ensuring continuous improvement.

The Relationship between the Use of Fair Accounting Methods and the Accuracy of Financial Asset Valuation through Effective Accounting Disclosure: An Applied Study of Najma Al-Samawah Cement Company

This research aims to examine the impact of fair accounting on the accuracy of financial asset valuation, the role of accounting disclosure in enhancing the reliability of financial statements, and analyzing the relationship between the level of accounting disclosure and the accuracy of financial valuation. It also highlights the challenges facing financial institutions in adopting this approach, particularly regarding the provision of accurate data that supports fair valuation. The importance of this research lies in analyzing the relationship between fair accounting and the accuracy of financial asset valuation, and the role of accounting disclosure in achieving financial information transparency and enhancing its reliability. The research problem is to examine the relationship between the use of fair accounting methods and the accuracy of financial asset valuation through effective accounting disclosure. The research concludes that the application of fair accounting contributes to improving the credibility of financial statements, reducing accounting biases, increasing investor and stakeholder confidence, and improving the efficiency of financial markets. However, the success of this application depends on several factors, including the level of accounting disclosure, the availability of market data, and companies' compliance with international accounting standards. The study also revealed that institutions that invest in enhancing accounting disclosure and improving the accuracy of financial valuations enjoy greater competitiveness in financial markets. The study recommended improving the company's financial disclosure systems by adopting the latest global practices, in line with International Financial Reporting Standards (IFRS). To ensure the effective application of fair accounting, it is recommended to provide ongoing training programs for accountants and administrators on the latest developments in this field.

The Impact of Deposit Rates and Net Asset Value on Mutual Fund Performance: Evidence from Pakistan's Banking Sector

The intention of this research is to study how deposit rates and net asset value (NAV) influence the performance of mutual funds of Pakistan banking sector. The research employs ARDL econometric technique to explore short and long term relationships between variables of the study and mutual fund performance. Their findings reveal a strong positive dynamic relation between mutual funds and NAV and consequently, high NAV enhances mutual fund's performance in the long run. Contrarily, mutual funds have a significant negative long-term relationship with deposit rates, implying that higher deposit rates may reduce mutual funds investment due to the preference of the investors to safer, interest bearing deposits. The results of the Error Correction Model (ECM) suggest in the short term deposit rates and NAV have significant negative impact on mutual fund performance thus short term variations in these variables might not be good for mutual funds. Our findings demonstrate the dealings between market dynamics and interest rate policies on mutual fund performance in the Pakistan’s banking sector. The study has important lessons for investors and policymakers that, on the one hand, investors are to take into account economic indicators on the macroeconomic level and on the other hand, fund managers and policymakers in general should select their instruments considering both macroeconomic indicators and market tendencies.

AN ANALYTICAL STUDY ON STOCK FUTURES AND OPTIONS DERIVATIVES TRADING IN INDIA

This study looks at financial derivatives, specifically options and futures. To protect against changes in the value of fundamental assets including stocks, bonds, commodities, currencies, and stock indexes, derivative tools are used. Since the Indian derivatives market is still relatively new and not well known to all investors, SEBI must take action to raise awareness of this industry. The market price of the underlying asset immediately affects an investor's profit or loss in the cash market, which could lead to significant gains or losses. Onthe other hand, investors can minimize their downside risk and make substantial profits through the derivatives market. Hedging is the primary usage of derivatives. SEBI should think about changing several rules, such as those pertaining to contract size and the participation of Foreign Institutional Investors (Flis) in the derivatives market, in order to promote the expansion of the Indian derivatives industry. All things considered, this study sheds light on the derivatives market. Keywords: Premium, Maturity Time, Strike Price, And Spot Price

ASSESSMENT OF ACCOUNTING AND REPORTING REPRESENTATION OF VIRTUAL ASSETS OF AN ENTERPRISE

The process of human activity development issequential, meaning that with the emergence of new knowledge and production technologies, economic conditions change. The modern environmentally oriented direction of societal development requires a thorough review of business activity and management mechanisms. External and internal factors influencing the development of socio-economic processes are constantly changing, leading to increased uncertainty and instability. This necessitates the development of new management mechanisms for making effective decisions that correspond to the dynamic changes in influencing factors. Analytical understanding of the processes of formation and use of virtual assets is key to building an effective management system. Virtual assets, such as cryptocurrencies, tokens, and other digital assets, play an important role in the economic environment. The article considers methodological approaches to assessing the accounting and reporting reflection of virtual assets of an enterprise. Although virtual assets are becoming increasingly important elements of the modern economy, their accounting and reporting cause significant difficulties due to the lack of established standards and methods in the system of institutional accounting theory. The article analyzes existing approaches toaccounting for virtual assets, their advantages and disadvantages, and also offers recommendations for improving accounting and reporting procedures. The main attention is paid to the issues of assessing the value of virtual assets, their classification and reflection in the financial statements of the enterprise. Various valuation methods, such as fair value, historical cost and other approaches used in international practice in accordance with IFRS requirements, are considered. Special attention is paid to the analysis of risks associated with the ownership and use of virtual assets, as well as their impact on the financial condition of the enterprise. The article also discusses the issues of regulation and standardization of accounting for virtual assetsat the national and international levels. Recommendations are offered for adapting existing accounting standards to the specifics of virtual assets, as well as developing new methodologies that take into account the peculiarities of the digital economy

Trends & Comparative Analysis of Asset Classes for All Citizens National Pension System (NPS) Tier I Account: Equity, Corporate Bonds, and Government Securities (G-Secs)

The study examines the trends and comparative performance of asset classes with respect to all citizens National Pension System (NPS) Tier I account over a decade (FY2015-FY2024). It focuses on equity, corporate bonds, and government securities (G-Secs). The research also analyses Net Asset Value (NAV), Assets Under Management (AUM), and subscriber growth to understand scheme dynamics. The research endeavours to examine PFMs performance. The study uses secondary data from the NPS database to understand returns. Descriptive statistics characterize asset class performance, while correlation identifies variable relationships. Regression analysis predicts NAV trends based on AUM, and evaluates performance. NPS analysis reveals that APY's subscriber growth complements strong AUM gains. The strategic asset allocation, notably by UTI PFM in equity/bonds and Kotak PFM in G-Secs, drives superior risk-adjusted returns. It indicates APY’s success in expanding coverage, strong AUM, subscriber growth, and influence of individual asset classes. Regression results exhibit a connect between AUM and NAV growth for the six PFMs. LIC's outperformance against the benchmark, and UTI’s results in equity and corporate bonds reveals strategy importance. Practical implications highlight the need for diversified strategies and enhanced investor education. Policymakers and PFMs should understand risk assessment and portfolio enhancement.

A systematic review on smart contracts security design patterns

Smart contracts have accelerated the adoption of blockchain technology across various domains by enabling coded agreements between transaction participants. However, increased software defects and vulnerabilities in smart contracts, driven by developer inexperience with languages like Solidity and a lack of effective detection tools, pose significant risks. Given the high value of assets managed on blockchain (e.g., cryptocurrencies), these vulnerabilities can lead to severe consequences. Researchers and practitioners have proposed numerous smart contract design patterns to mitigate certain faults or vulnerabilities. Despite these efforts, it remains unclear which types of defects these patterns target and how effectively they address the wide range of existing smart contract security vulnerabilities. In this paper, we review the state of the art in smart contract design patterns, categorizing them and analyzing their effectiveness in mitigating known security vulnerabilities. Our findings reveal that only five patterns directly aim to prevent security vulnerabilities, collectively addressing just 6 out of 94 security issues identified by OpenSCV (a state-of-the-art vulnerability taxonomy), highlighting the need for further research on smart contract security design patterns.

Private Equity Fund Reporting Quality, External Monitors, and Third-Party Service Providers

ABSTRACT We describe variation in the reporting quality (i.e., accuracy and bias of reported net asset values (NAVs)) of private equity (PE) funds across types of external monitors (investors and auditors) and third-party service providers (valuation specialists, marketers, and administrators). In contrast to public markets, we find only limited evidence that reporting quality varies with the composition and types of investors in PE funds. We observe, however, that reporting quality varies with auditor involvement and the use of third-party service providers; these associations often differ across buyout (BO) and venture capital (VC) funds and from those observed in public markets. Our evidence is important to investors and regulators, especially now that PE supersedes public markets as the main vehicle to raise capital and as regulators increase their focus on private markets. Data Availability: Data used in this study are available from public sources listed in the paper. JEL Classifications: G1; G14; G30; M4; M41.

Land Waqf Management Model of Islamic Religious Organizations Muhammadiyah and Nahdhatul Ulama (NU) in Indonesia

Waqf land in Indonesia is known for being able to be preserved and managed sustainably for the benefit of society. People often entrust Muhammadiyah and NU Islamic organizations as nadzirs, as both can manage the waqf process, from registration to issuance of land certificates, and increase the economic value of waqf assets. This study aims to analyze the land waqf management model and identify legal problems and solutions in Muhammadiyah and NU. The research uses field research method with snowball sample technique from BWI, as well as Muhammadiyah and NU administrators in Central Java, East Java, and BWI. The management of waqf land by Muhammadiyah and NU nadzirs includes legal legality, semi-productive management, and cash waqf collection. Muhammadiyah focuses on education, social, and worship, while NU mostly focuses on mosques and tombs. Problems include legality, transparency, and nadzir limitations, with solutions to strengthen agreements and external cooperation.

Market Phases and Price Discovery in NFTs: A Deep Learning Approach to Digital Asset Valuation

This study introduces the Channel-wise Attention with Relative Distance (CARD) model for NFT market prediction, addressing the unique challenges of NFT valuation through a novel deep learning architecture. Analyzing 26,287 h of transaction data across major marketplaces, the model demonstrates superior predictive accuracy compared to conventional approaches, achieving a 33.5% reduction in Mean Absolute Error versus LSTM models, a 29.7% improvement over Transformer architectures, and a 30.1% enhancement compared to LightGBM implementations. For long-term forecasting (720-h horizon), CARD maintains a 35.5% performance advantage over the next best model. Through SHAP-based regime analysis, we identify distinct feature importance patterns across market phases, revealing how liquidity metrics, top trader activity, and royalty dynamics drive valuations in bear, bull, and neutral markets respectively. The findings provide actionable insights for investors while advancing our theoretical understanding of NFT market microstructure and price discovery mechanisms.

The Factor of Production Efficiency and the Company’s Reputational Capital Valuing

Relevance. Valuation of companies operating in the market becomes more important during undergoing reorganization of export and import supply chains and the withdrawal of foreign manufacturers from the domestic market under the sanctions’ pressure. Purpose. This research made to identify methods and approaches for the calculation of the company’s value and its reputation rating in the context of a structural transformation of the economy due to the recent deterioration in international relations. We will examine both speculative and production approaches and examine how traditional financial indicators work with the added value. These approaches are used to explain the qualitative characteristics of cost-based management. To assess reputational capital, we used the methods of gross rent multiplier, direct capitalization, and discounting. We also used a market approach with the “excess profits” method. Results. We provide an example of how to calculate the value of real estate in the context of sanctions uncertainty and the goal of import substitution. Using the example of intangible assets such as goodwill and brand, we discuss the reliability of assessing the company’s reputational capital. This capital is the result of high-quality production, investment attractiveness, and corporate social responsibility. To illustrate this, we highlight the differences between speculative and production approaches to increase the value of reputational capital. We suggest refinements to the paradigm of value-based management that focus primarily on production achievements rather than speculative manipulations. Additionally, we consider the method for determining the value of assets, business reputation, and brand in assessing reputational capital, with author’s clarifications. Conclusion. The calculations we have done provide a framework for evaluating the assets and reputation capital required to launch and invest in new industries. This approach can lead to economic growth based on high efficiency and technology, as well as the creation of a sustainable and dynamic economy. It also aims to reduce the proportion of imported goods and services in the structure of the gross domestic product, in line with the President’s Decree «On the National Development Goals of the Russian Federation for the period up to 2030 and for the future up to 2036».

Right Appraisal for the Right Purpose: Comparing Techniques for Appraising Heritage Trees in Australia and Canada

Abstract BackgroundLarge old trees are keystone structures in global decline: they are vulnerable to severe injuries and require careful management in urban areas. Heritage status offers some protection, but status alone is insufficient. Tree appraisals have potential to express this living heritage in a language decision-makers can understand, making a stronger case for maintenance and protection and helping to establish priorities.MethodsThis study examined 5 urban tree appraisal techniques on 12 heritage trees at various aging stages in Australia and Canada. Techniques included were: Trunk Formula Technique (TFT)(North America); Capital Asset Valuation for Amenity Trees (CAVAT)(United Kingdom); MIS506/24 (Australia and New Zealand); Thyer Tree Valuation Method 2015 (Thyer)(Australia); and Standard Tree Evaluation Method (STEM)(New Zealand).ResultsEach technique considers different variables, producing wide ranging estimates that are generally reduced as trees progress from mature to ancient stages. All 5 techniques assume nursery tree cost correlates with the appraised tree’s value. Comparing international techniques using trees in different countries posed challenges due to local market inputs. CAVAT produced the highest estimates for trees in nearly ideal condition, while Thyer generally produced the highest estimates for trees with minor defects and less-than-ideal condition. TFT often represented the median estimate. CAVAT had the most wide ranging results, while STEM showed the least variability.ConclusionsThe right technique should be chosen for the right purpose. This comparative analysis contributes valuable insights that broaden our understanding of the challenges in appraising heritage trees.

Guest Editorial: Three Actions You Can Take Right Now To Launch or Accelerate Your Refracturing Program

_ The refracturing of legacy wells is no longer considered an industry experiment—it’s a proven pathway to creating significant value. We see increasing mentions of refracturing on earnings calls as operators are finding it possible to routinely boost estimated ultimate recovery (EUR) rates by 20 to 60% (or more) beyond that achieved with the original completion. One large operator in the Eagle Ford Shale recently launched a refrac program and reported initial returns exceeding 100%. Meanwhile, recent acquisitions highlight untapped refrac potential as a key driver behind strategic deals. Companies sitting on massive potential for refracturing that do not act on it are being actively bought out by the companies that are willing and able. This is emerging as one of the shale sector's most significant arbitrage opportunities—and it's becoming clearer by the day to those paying attention. Pumping service companies are reporting about compiled datasets which show improvements in completion design resulting in increased EUR/ft over the years. As you may have guessed, this suggests that there are stranded reserves left from the original completions, creating significant refrac potential. Considering all of this, there are mounting reasons to believe that the best time to begin a refracturing program was yesterday. The second-best time is today. So, how do you get started? Here are three actionable steps you can commit to right now to turn opportunity into reality: Go Learn, Go Big, and Go Team. Go Learn: SPE Refracturing Workshop We improve as an industry when we share, and the SPE workshop in May in San Antonio, Texas, Refracturing—A Proven Strategy to Maximize Economic Recovery, is the perfect place for you to experience this. The workshop has been designed to allow operators and others to share and discuss their latest advancements and case studies. SPE does not require formal papers for workshops, prohibits media attendance, and allows presenters to decide whether to share their materials afterward—all of which encourage more candid dialogue and open exchange than you'd find at a typical industry conference. The workshop will include some of the most experienced operators, service providers, and leading voices in the refrac space. An intimate venue will also foster opportunities for valuable one-on-one conversations beyond the standard Q&A sessions. Sessions at the SPE Refracturing Workshop will cover a variety of critical themes. If you're serious about kicking off a refracturing program—or getting your current efforts into a new gear—these topics will help you hit the ground running. - Candidate selection, asset valuation, and reserves estimates for refracturing - Intra- and interwell fracture-driven interactions (FDIs) between wells - Modern completion techniques and coiled tubing interventions - Zonal isolation techniques and advancements - Refrac design and technique selection - Diagnostics and surveillance - Future and emerging technologies - Panel on lessons learned

Framing ‘economic rival’? Targeted attitudes toward Chinese companies in The Wall Street Journal’s English and Chinese editions of economic news

This study compared the use of ‘targeted attitudes’ in The Wall Street Journal’ s (wsj) economic news of Chinese companies in its English edition and Chinese edition. The study included two corpora comprising 1,480 articles from wsj’s English and Chinese editions (2020–2023). To identify targeted attitudes towards Chinese enterprises in these corpora, this study applied the Attitude system in the Appraisal System ( Martin and White, 2005 ; and Bednarek, 2008 ). Furthermore, a swot-based taxonomy ( Wheelen et al., 2017 ) was used to categorise both internal and external factors of these companies as attitude targets. A corpus analysis of the targeted attitudes revealed significant (ll≥3.84; p<0.05) frequency differences between the two editions. The English edition used internal and external attitudes to portray Chinese companies holistically. A greater amount of internal Inclination and internal Propriety were used to convey Chinese firms’ aspirations, environmental efforts, and illegal behaviours. A greater amount of external Capacity was used to evaluate the impacts of socio-political factors on the firms. Conversely, the Chinese edition used a greater amount of internal Appreciation to evaluate the value of Chinese corporate assets. These findings imply how wsj tailors its economic coverage to cater to the expectations of different economic expert audiences during China’s economic fluctuations.

Fragile New Economy: Intangible Capital, Corporate Savings Glut, and Financial Instability

The transition toward an intangible-intensive economy reshapes financial systems by creating a self-perpetuating savings glut in the production sector. As intangibles become increasingly important, firms hoard liquidity to finance investment in intangibles of limited pledgeability. Firms’ savings feed cheap leverage to financial intermediaries and allow intermediaries to bid up asset prices, which in turn encourages firms to save more for asset creation. This paper develops a macrofinance model that offers a coherent account of rising corporate savings, debt-fueled growth of intermediaries, declining interest rates, and rising asset valuation. Along these secular trends, endogenous financial risk accumulates. (JEL E43, E44, G12, G21, G31, G32)

European Money Market Fund Investors Demand Liquidity

ABSTRACTWe analyze the impact of the United Kingdom's “Growth Plan” announcement on European Money Market Funds (MMFs). EU MMF regulations allow fixed net asset value (NAV) with liquidity fees and redemption gates and floating NAV without liquidity restrictions. The new regulations are designed to make MMFs more resilient under financial market stress. We find that Pounds denominated and/or UK‐domicile fixed NAV MMFs experience fund outflows following the announcement. Our results suggest that the fixed NAV MMF liquidity fees and redemption gates prompted investors to move quickly in response to the market stress of the Growth Plan.

소규모주택정비사업에서 프롭테크 기술 활용 사례 연구 : 가로주택정비사업을 대상으로

This study empirically examines Proptech application in small-scale housing improvement projects by analyzing LBDeveloper, a service utilized by the LH Corporation and SH Corporation for the preliminary feasibility analysis of housing renewal projects. The study investigates the implementation and utilization of PropTech in block-unit housing renewal projects and applies PropTech services to estimate the asset value of former and postdevelopment properties and the total project costs. Then, results were compared with traditional feasibility assessment methods to evaluate the effectiveness and limitations of PropTech services. Findings indicated that leveraging PropTech technologies, such as AI -driven architectural design and big data analytics, can enhance efficiency in project feasibility assessments. This result can be achieved by reducing the time and costs associated with determining project eligibility, generating design proposals, and analyzing business viability. Furthermore, the rapid provision of data-driven insights facilitates informed decision-making in the early stages of the redevelopment process. Although PropTech can improve the efficiency of feasibility assessments in small-scale housing improvement projects, it cannot entirely replace the role of experts. The reason is that final project evaluations and decision-making processes require expert review. Future research should focus on comparative analyses of various PropTech services and explore their applicability beyond housing renewal projects to the broader real estate sector.