Value Of Assets Research Articles

Reform of The Inheritance System: Between Islamic Law and Tradition of Sasak Tribe

This paper discusses the reform of the inheritance system between Islamic law and tradition of the Sasak tribe by investigating how religious leaders in Lombok view the inheritance distribution system and how to reform the inheritance system between Islamic law and tradition in the Sasak Lombok Community. This research uses qualitative methods with a case study approach, and data taken from the field was analysed using Jasser Auda's system theory regarding maqasid sharia. The result of reforming the Islamic law system and tradition in the Sasak tribe is to eliminate injustice within the Lombok NTB community by emphasising the value of inheritance property rather than its quantity. This approach ensures that inheritance distribution considers the value of assets, such as land, rather than merely dividing by area. For instance, the value of one hectare of strategically located land differs significantly from that of less strategically located land. Thus, instead of dividing the land by hectares, it is divided based on value, ensuring a fair distribution among the eldest brother, other brothers, and sisters. This method seeks to achieve justice for all parties involved.

A Re-examination of Housing Investment Performance in Nigeria

Arising from the lack of a holistic performance analysis of housing investment in Nigeria, this paper re-examines the return-risk performance of residential property assets by focusing on the tier 1 property markets of Lagos, Abuja, and Port Harcourt. Data on the rental and capital values of residential property assets, comprising bungalows, blocks of flats, and detached houses, from 1999 to 2022 were obtained from estate surveying and valuation firms in the three locations. Mean return and standard deviation were employed to analyse return and risk profiles. Variations in return and risk profiles were further examined using a four-year sub-period analysis. The return-risk ratio was also employed to measure the attractiveness of the investment. The downside risk measure of the Sortino ratio was utilised to determine the risk-adjusted performance of the residential property assets. The results revealed that, on mean return and return-risk tradeoff bases, bungalow investments had superior performance compared with other property types across the geographic areas. When aggregated, residential property assets in Port Harcourt experienced superior return-risk performance relative to other locations. On sub-period analysis, the study established variations in the performance of the residential property assets across time periods and locations. On the risk-adjusted performance measure, it was found that bungalows in Lagos had the highest risk-adjusted performance. Detached house investments across the three locations were also found to exhibit low downside risk-adjusted performance. The study concluded that investors could gain high and attractive returns when making bungalow housing investment decisions with a huge potential for downside risk-proof returns. Moreover, investors could further expand this potential by concentrating more housing investment activities in Port Harcourt, as returns in this location are insulated from downside risk. However, investors should be cautious when investing in detached house assets across the three locations, as returns from this asset might be susceptible to downside risk.

Çevre Yanlısı Davranışlarla İlişkili Bilişsel İşlevlerin Nöropsikolojisi

The daily habits and behaviors of modern society people harm the environment more than expected. It is well known that in order to protect the inherent values of the natural assets of the world we live in, and to sustain the mutual interaction of people with the environment in a productive manner, necessary precautions should be taken to establish and maintain pro-environmental behaviors. However, people act in different levels of pro-environmental behavior. Although most of the people state that they have a pro-environmental attitude, they cannot transform their attitudes into actual behaviors in their daily lives for various reasons. Examining the mechanisms underlying this phenomenon, known as the attitude-behavior gap, may contribute to the development of interventions that can help to understand how these behaviors differ among individuals and to eliminate this difference between the observed pro-environmental behaviors. At this point, neuroscience studies can provide a more comprehensive explanation of the reasons for the behavioral differences between these individuals, by comparing the performance of individuals with and without pro-environmental behaviors and those who have adopted and not adopting the environmentalist view, on behavioral tasks, and by simultaneously examining the physiological responses that may be related to sustainable behavior. This article will discuss how neuroscience and neuropsychological approach can provide an explanation for these questions through their unique methods.

Unlocking the Link Between Firm Level Factors and Capital Structure: "An Industrial Analysis"

This study investigates the influence of firm level factors on capital structure. The determinants of the study are profitability, liquidity, cash gap, cash productivity of asset and firm valuation that effect the capital structure. The population used is the construction sector of Pakistan and the cement sector was selected as the sample size for period of 2016 to 2021. The random effect model is operated as data analysis technique to empirically examine the relationship of variables. The findings show that all predictors influenced the capital structure. The results obtained infer that profitability and cash gap are positively associated with capital structure. Whereas, liquidity, cash productivity of assets and firm valuation is negatively related with capital structure. The two fundamental theories of capital structure, trade-off theory and pecking order theory are used in this study. It emphasizes the significance of probability in determining the capital structure decisions as increased debt usage can lead to tax deductions due to interest payments. The aim is to enhance the company's profits, which in turn will raise the company's worth through optimal selection of capital structure. Our study recommends that companies in construction sector should increase their profitability and manage cash gaps efficiently to leverage positive impact on capital structure and to regularly evaluate form valuation to ensure it aligns with capital structure decision.

VALUATION OF INTANGIBLE ASSETS IN THE MANUFACTURING INDUSTRY

From an economic and psychological point of view, building and maintaining a good reputation is essential for any branch of economic activity. This work evaluated goodwill using the weighted average return on assets method, WARA. This is according to the average company in the manufacturing industry in the Czech Republic between 2016-2020. The average enterprise was created by filtering enterprises determined according to the classification of economic activities of CZ NACE from section C. These data were transformed into a single entity valued on an accounting basis, and the value of its goodwill was determined. This value was determined from an accounting point of view as the difference between the revenue value of the business plant and the asset value of the business plant. The benefit is the value of goodwill expenses in connection with strengthening the competitive advantage in the market. The limitation of this work was determining which companies should filter out from the list of accounting data completely and which to keep. Further research could examine companies in individual subgroups in the manufacturing industry and other sections of the classification of economic activities.

Attributes Driving Intangible Asset Valuation

The inherent complexity and subjectivity of assessing assets such as intangible asset, posing challenges for standardized methodologies and accurate financial reporting, this complexity is compounded by the consideration of various valuation criteria, some of which are ill-suited for appraising intangible assets, this study is dedicated to assessing the key attributes that drive the valuation of intangible assets, aiming to construct a comprehensive framework for their valuation. Employing a mixed-methods approach, both quantitative and qualitative research designs were employed, utilizing survey questionnaires, semi-structured interviews, and focus group discussions. Purposive sampling was employed to select participants and the data analysis involved descriptive and thematic content analysis. The study's findings underscored the paramount economic attributes of intangible assets, highlighting the significance of economic life span and company’s value driver. Conversely, attributes categorized as company’s value distracters were identified as less important, with novelty exhibiting the highest mean value of 4.6. Additional attributes such as originality, legal protection, royalty of the asset, and life span right of protection also contributed significantly to the valuation process. Qualitative findings revealed that the market and income methods of valuation are predominant in intangible asset valuation practices. The study demonstrated that the choice of valuation method hinges on information availability, with attributes like economic life span and historic income influencing the value derivation process using income and market approaches. The study concludes by illustrating its findings through the development of a tangible intangible asset’s valuation framework, providing a structured guide for assessing and determining the worth of intangible assets in a more systematic and informed manner.

Distributed economic model predictive control for the joint energy dispatch of wind farms and run-of-the-river hydropower plants

This study addresses the energy dispatch problem of a virtual power plant (VPP) acting as a price-tacker in the day-ahead electricity market. The VPP comprises wind farms and a cascade of run-of-the-river hydropower plants. Even if the storage capacity of the cascade is limited, it can still be exploited to compensate the variability of wind. This implies dispatching the water reservoirs near to real-time, while accounting for complex constraints and various sources of uncertainty. To this aim, we present a control strategy based on economic model predictive control (MPC), which is then decomposed using the auxiliary problem principle. As a distinctive feature, the proposed algorithm is fully-distributed, i.e. no central coordinator is required. Compared to centralized MPC, the distributed algorithm brings a ∼10% reduction in the average execution time of the controller. Moreover, the joint operation of hydropower and wind is shown to enhance the economic value of both assets.

Accounting for the value of ecosystem assets: from value judgments to management needs—take Yancheng City as an example

Ecosystem assets form a significant portion of natural resource assets. Accounting for natural resource assets accurately interprets the theory of 'lucid waters and lush mountains are invaluable assets'. This facilitates effective and unified management of ‘mountains, water, forests, farmlands, lakes, grasslands and desert ecosystem’ and serves as a crucial bridge from qualitative understanding to the valuation of the theory of ecosystem services and from theoretical discussion to management practice. Yancheng is the only coastal ecological wetland city with world natural heritage on China’s 10,000-mile coastline integrating three green genes and biodiversity of ocean, forest, and wetland. Yancheng, selected as a study case, is an important ecological barrier and a treasure trove of ecological resources in the eastern coastal areas of China. The ecosystem service value of Yancheng City from 2019 to 2021 was calculated respectively. The income-capitalization method was used to divide the annual ecosystem service value by the bank loan interest rate in the same period to obtain the ecosystem asset stock value of the past 3 years. The value of ecosystem services in Yancheng City are classified to three parts based on their value attributes: first, ecological products with use value attributes that have already been realized; second, the value of those with use value attributes but have not yet been realized; and third, the value of support services with nonuse value attributes. By comparing the value components of supply, regulation, and cultural ecological products in Yancheng, the intensity of existing development and the potential for future growth of Yancheng ecosystem services are assessed. The Yancheng case shows that ecosystem asset value accounting is an practical assessment tool that transitions from value judgment to service management needs, which can provide a scientific basis for ecological environment management.

Әртүрлі оқиғалардың криптовалюта құнына әсерін талдау

The relevance of the research topic is due to the fact that many crypto investors are attracted by the high liquidity of cryptocurrencies, low transaction costs and ease of transactions via the Internet. In contrast from Fiat currencies, corporate stocks, and bonds, cryptocurrencies do not have an underlying value. demand therefore market cost to a greater extent depends on how wellknown and popular this cryptocurrency is. Also, the price of cryptocurrencies is influenced by market sentiment, namely the thoughts, feelings and emotions of investors regarding the asset. With the help of traditional asset valuation models, it is impossible to qualitatively explain the latest changes in the price of cryptocurrencies. However, some financial models point to that cryptocurrency is currently overvalued. Apparently, the hypothesis of financial instability is better than any of the verified economic theories suitable to explain recent changesin prices of cryptoassets. The theory suggests that because the cryptocurrency market is moving against the macroeconomic fundamentals of the economy, emotions are a major factor. determining demand on a given market. In this article, the authors examined the influence of behavioral financial factors on investment decisions in the cryptocurrency market. Multiple regression analysis was used to examine this effect. The purpose of the article is to study the development of cryptocurrency in Kazakhstan and assess the impact of events on the value of cryptocurrency. Based on this goal, the authors put forward the following tasks: to analyze and evaluate the use of cryptocurrencies in the modern economy; explore the features of cryptocurrency pricing.

EXCHANGE RATE AS A MODERATING VARIABLE: EFFECT ON STOCK PRICES

This study aims to determine the effect of financial ratios and assets on stock prices with exchange rates as moderating variables. In this study, the variables used are Return On Asset (ROA), Earning Per Share (EPS), and Fixed Asset Value. The data used in this study are secondary data from the IDX and the company's annual report. The population used in this study are consumer good industry sector companies listed on the Indonesia Stock Exchange in the 2018-2022 period. The analysis technique is the MRA (Moderated Regression Analysis) test using SPSS software version 29. The results showed that EPS, Fixed Assets and Exchange Rates affect stock prices, while ROA does not affect stock prices. The moderating variable test in this study shows that Exchange Rate can moderate EPS.

Ефективність використання інноваційного потенціалу підприємств харчової промисловості

The work aims to assess the current state of innovative activity of food industry enterprises to determine its innovative potential and the effectiveness of its use in the conditions of a prolonged economic crisis. Data from the State Statistics Service of Ukraine for 2016-2020 were used since the selected number of enterprises was last updated in 2020 to achieve the goal. A study was conducted on the dynamic change in the share of innovatively active enterprises of the processing industry in the total number of enterprises, innovatively active enterprises of the food industry in the total number of enterprises, and innovatively active food enterprises in the total number of processing enterprises. The simultaneous allocation of positive changes in the value of fixed production assets, long-term biological assets, unfinished capital investments, long-term financial investments, and other non-current assets characterizes the value of non-current assets of food enterprises. An estimate of the innovation costs of food enterprises with positive shifts in the composition of R&D investments made by own forces, R&D made by other enterprises, and other innovation costs (excluding R&D) is provided. The number of innovative products (goods, services) sold by food enterprises was analyzed, with the selection of innovative products (goods, services) new for the market and innovative products (goods, services) new only for the enterprise. Changes in the number of employees involved in scientific research and development were assessed, with the specific weight of research staff (including researchers with doctorates and candidates of science degrees), technical staff and support staff allocated. The practical and analyzed steps of the management team indicate an increase in the efficiency of using the innovative potential of food industry enterprises, the result of which is an increase in innovatively active enterprises, an increase in investments in fixed and human capital, an increase in the costs of innovative research and the volume of innovative products produced and sold. Keywords: innovations, innovative potential, innovative costs, innovative products, food industry enterprises.

Value relevance of fair value hierarchy

Implementing accounting standard 68 (PSAK 68) adopted by IFRS 13 has brought changes in reflecting the market value previously explained by earnings per share and book value. This study investigates the relevance of fair value estimates as measured by the beta coefficient in firms in the financial industry. Specifically, the study focuses on whether the hierarchy of fair value financial liabilities and assets of the firms can affect the market value. This is quantitative research using archival methods. Sampling used a purposive sampling technique with a sample of 240 firm-years. The results showed that financial assets for level 2 (inputs other than quoted prices that were observable directly or indirectly) and level 3 (unobservable inputs generated by entities) positively had value relevance. All three hierarchy fair values of financial liabilities fair value negatively had value-relevance. These results indicate that investors pay higher financial assets for levels 2 and 3 than level 1. Meanwhile, the value relevance of financial assets and liabilities, as measured by R-squared, was relevant. This suggests that investors also trust that each hierarchy's fair value affects the market value. The findings of this study have significant implications for the advancement of the clean surplus theory. The theory posits that the company's market value can be explained by the fair value of financial assets using level 2 and level 3 as well as level 1, level 2, and level 3 financial liabilities.

A STUDY ON PERFORMANCE EVALUATION OF 5 EQUITY GROWTH MUTUAL FUND SCHEMES IN INDIA

A mutual fund, which is another name for an investing business, is a type of financial instrument that pools the capital of multiple participants and uses it to purchase money market instruments and government securities. To put it simply, the management of the fund uses the funds raised to buy bonds and equities. The purchase of securities is known as the portfolio of the fund. Additionally, the investors split the revenue from this joint investment after subtracting any necessary taxes and levies. NAV is used to compute these costs and levies (Net Asset Value). The purpose of this study is to examine the performance of a five selective Indian mutual fund schemes during a three-year period from 2020 to 2023 using their daily Net Asset Value (NAV). The selected mutual considered for the study are private sector equity growth mutual fund schemes. The funds' performance is evaluated using the Sharpe index, Treynor index, and Jensen alpha, and the results will help investors make smarter investing decisions. The study aims to study the best performer among these 5 mutual funds i.e., HDFC, ICICI, AXIS, KVB and KOTAK MAHINDRA based on the study period. NAV = Value of Securities – Liabilities / No. of units outstanding shares) Keywords: Equity Growth Mutual Fund, performance, risk and return, banks in the private sector, Jenson's, Treynor's, and Sharpe's ratios.

On the Relationship Between Asset Exemptions and Outstanding Tax Repayments in Chapter 7 Bankruptcy

Under a Chapter 7 bankruptcy filing, assets are liquidated and used to repay debts, in order of a Court-established priority. If not repaid through the liquidation process, some of these debts (especially certain types of unpaid taxes) survive the bankruptcy proceedings and must still be repaid. The U.S. Bankruptcy Code allows individuals filing under Chapter 7 to exempt certain assets from the liquidation process. More generous exemptions lead to a lower value of assets liquidated and used to repay creditors. This leads to an interesting decision problem. Do filers with exempt assets and tax debts choose to retain their exempt assets and allow the tax obligations to survive the bankruptcy process? Or do they use the liquidation process to reduce outstanding tax obligations? This manuscript empirically explores this issue. We find no statistically significant evidence suggesting that households with greater exempt assets accumulate or repay a greater proportion of tax debts. However, filers who own businesses are more likely to accumulate and repay tax debts through bankruptcy.

Environmental pollution liability insurance and commercial credit financing

ABSTRACT Environmental risk issues for heavily polluting enterprises are a significant concern for both society and scholars; raising awareness of pollution liability insurance is essential for sustainable development. Within the context of green development, we focus on a unique environmental pollution liability insurance (EPLI) system and examine its relationship with commercial credit. We empirically test this relationship using regression analysis, propensity score matching (PSM), and placebo tests. We find that subscribing to EPLI significantly improves commercial credit financing. This effect is particularly strong in state-owned enterprises, financially developed areas, and regions where governments prioritize environmental issues. Our conclusions remain valid after robustness tests. A mechanism analysis reveals that supplier bargaining power and the value of collateral assets are key mechanisms through which EPLI enhances commercial credit financing.

Insensitive Investors

ABSTRACTWe experimentally study the transmission of subjective expectations into actions. Subjects in our experiment report valuations that are far too insensitive to their expectations, relative to the prediction from a frictionless model. We propose that the insensitivity is driven by a noisy cognitive process that prevents subjects from precisely computing asset valuations. The empirical link between subjective expectations and actions becomes stronger as subjective expectations approach rational expectations. Our results highlight the importance of incorporating weak transmission into belief‐based asset pricing models. Finally, we discuss how cognitive noise can provide a microfoundation for inelastic demand in the stock market.

Non-financial asset valuation at higher education institutions: The theoretical and practical aspects

Subject. This article focuses on the issues of initial and subsequent valuation of non-financial assets at Russian higher education institutions. Objectives. The article aims to analyze the provisions of the accounting policy of educational institutions for higher education in relation to the valuation of non-financial assets, compare them with the Federal Accounting Standards, identify problematic aspects, and determine the areas for their solution. Methods. The regulations on the accounting policy of twenty six higher education institutions of Russia in relation to the valuation of non-financial assets are the basis of the study. For the study, I used observation, comparison, generalization, and interpretation. Results. The article presents the results of the analysis of the composition of costs incurred by institutions in the process of creating an object of fixed assets. It also offers recommendations on the inclusion of interest expenses on long-term liabilities in the initial cost of non-financial assets during their construction (creation) using own resources and options for assessing the value of replaced (disposed) parts of fixed assets, and a methodology for their calculation. A list of expenses included in determining the initial cost of intangible assets created by higher education institutions on their own is also presented. Conclusions. To improve the accounting of transactions for the acquisition and creation of fixed assets, it is advisable to establish the procedure for allocating the costs of delivery of several fixed assets in the accounting policy of educational organizations, determine the methods of attributing additional borrowing costs, as well as establish the criterion for the materiality of such expenses. It is concluded that higher education institutions should have a unified methodology for accounting costs when carrying out regular scheduled overhauls, technical inspections and maintenance of fixed assets.

Explainable assessment of financial experts’ credibility by classifying social media forecasts and checking the predictions with actual market data

Social media include diverse interaction metrics related to user popularity, the most evident example being the number of user followers. The latter has raised concerns about the credibility of the posts by the most popular creators. However, most existing approaches to assess credibility in social media strictly consider this problem a binary classification, often based on a priori information, without checking if actual real-world facts back the users’ comments. In addition, they do not provide automatic explanations of their predictions to foster their trustworthiness. In this work, we propose a credibility assessment solution for financial creators in social media that combines Natural Language Processing and Machine Learning. The reputation of the contributors is assessed by automatically classifying their forecasts on asset values by type and verifying these predictions with actual market data to approximate their probability of success. The outcome of this verification is a continuous credibility score instead of a binary result, an entirely novel contribution by this work. Moreover, social media metrics (i.e., user context) are exploited by calculating their correlation with the credibility rankings, providing insights on the interest of the end-users in financial posts and their forecasts (i.e., drop or rise). Finally, the system provides natural language explanations of its decisions based on a model-agnostic analysis of relevant features.

Are Data Assets Useful?—Evidence Based on Corporate Cost Stickiness

ABSTRACT As the digital economy continues to grow, data resources are becoming increasingly important as factors of production. The existing body of literature lacks comprehensive research on how digital data actually becomes a production factor. This study aims to fill that gap by examining how data assets affect corporate cost stickiness. Our findings show that data assets have a significant impact on reducing cost stickiness, and this conclusion remains robust even after conducting various rigorous tests. Mechanism tests indicate that data assets help companies in effectively managing the bullwhip effect resulting from demand fluctuations in the supply chain. Moreover, companies that possess and utilize data assets have better inventory turnover, enhancing their capacity for flexible production. Furthermore, the inhibitory effect of data assets on cost stickiness is more pronounced in regions characterized by a high level of digital economy development and among enterprises facing higher operational uncertainty. This highlights the important role of data assets as novel production factor in managing costs and allocating resources effectively. In conclusion, this research demonstrates the value of data assets in cost management and resource allocation for businesses in the digital era.

Insights into financial reporting practices in the metaverse: evidence from Islamic financial institutions in Bahrain

Purpose This study aims to assess how prepared and flexible accounting professionals are to produce financial accounts that adhere to Shariah regulations in the metaverse. The study also highlights the potential positive and negative effects of metaverse utilization on the financial reporting quality of Islamic financial institutions (IFIs). Design/methodology/approach A questionnaire was distributed to a random sample of 102 accounting professionals employed in IFIs in Bahrain. Findings The capacity to provide real-time reporting within the metaverse would enhance the quality and reliability of Islamic financial reporting. Furthermore, the fluctuating values of digital assets in the metaverse pose a significant challenge to ensuring accurate financial reporting. IFIs fail to create an environment suitable for transitioning to the metaverse. Moreover, the participants expressed concerns about how the rapid expansion of the metaverse may challenge the adherence to Shariah governance principles in virtual financial transactions. They further recommended that the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) establish explicit directives on Shariah governance in the metaverse. Practical implications Various IFIs’ stakeholders, including practitioners, shareholders and employees interested in adopting the metaverse technology, can benefit from the findings of the studies. In addition, the study could help Islamic banks in Bahrain better grasp the readiness and adaptability of accounting professionals. This understanding would aid in establishing robust financial reporting standards that align with Shariah principles in the metaverse. Originality/value This research examines the metaverse through the lens of Islamic financial reporting, offering recent evidence on technological developments and financial reporting practices within an Islamic context. The research findings would contribute to advancing the knowledge among academics, professionals and all interested parties concerning the effects of metaverse implementation on Shariah governance principles and the quality of financial reporting. The study findings would offer policymakers and regulators in the Islamic finance sector essential insights.