Valuation Method Research Articles

Methodological influences on ecosystem valuation: a systematic review of contingent valuation studies

ABSTRACT The contingent valuation method (CVM) has long been criticised for its capability in predicting the value of public goods. Split-sample studies are conducted to assess the effects of research methodologies on economic value estimation. However, there is a lack of literature that comprehensively reviews the previous works. This study addresses this knowledge gap by identifying the effect of questionnaire design and survey methods on CVM outcomes, focusing on ecosystem valuation. The preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) framework is adopted, and 74 previous studies are included, gathering 100 observations. The findings reveal that questionnaire design elements such as providing more detailed information, using hypothetical payments, incorporating additional questions, applying a more extensive scope of the conservation programme, and utilising dichotomous choice questions positively influence the mean willingness to pay (WTP). Regarding survey methods, results show that active users of the ecosystem exhibit higher WTP than non-users, and direct interaction with the respondents yields higher WTP outcomes. This study signifies how research methodology choices influence economic values derived from CVM, highlighting the importance of considering survey bias and aiding the development of a more effective survey instrument.

Willingness to Pay Analyse for Green Cosmetics Product in Malang City

Purpose: This research aims to determine the characteristics of green cosmetics consumers in the city of Malang. Additionally, it seeks to analyze the estimates and percentage changes in prices of green cosmetics products that consumers are willing to pay.Design/Methodology/Approarch: Descriptive analysis and the Contingent Valuation Method are employed in this research. The respondents consist of women in Malang who have used green cosmetics products. The total number of respondents for this study is 100.Findings: The characteristics of the respondents in this study are predominantly women aged 26 to 35, working in the private sector, with expenditures exceeding Rp. 6,000,000. Overall, the majority of respondents in this study are willing to pay more for green cosmetics products. They express no objection because the benefits of green cosmetics products are not only advantageous for users but also contribute to environmental sustainability. Green cosmetics products such as serum, facewash, and sunscreen are frequently used and preferred by consumers.

Use of condition-based valuation approach to evaluate the maintenance decision of pavement assets: a case study of Yunnan Province in China

Pavements are critical components of highway assets, but accurately estimating their value can be challenging due to the lack of connection between valuation and long-term service performance degradation. To address this issue, the replacement cost and condition-based valuation methods were introduced using the Yunnan province highway in China as an example, which divided pavement into four performance states based on service stages. The rationality of maintenance decisions and the impact of preventive maintenance investment on life cycle assessments were also considered. The results indicate that there are issues of irrational allocation of maintenance funds of the highway in Yunnan province, and a higher proportion of preventive maintenance investment is required. Moreover, it is recommended to balance the maintenance funds for bridge and tunnel engineering in the following year, focusing on bridge engineering with a rapid decline in the newness rate. The implementation of preventive maintenance has a positive correlation with the replacement cost and newness rate of the road sections. Through comparison, it was found that the road surface renewal rate in 2019 was lower than that in 2018, and some highway management departments in certain regions need to adjust their preventive maintenance strategies. Overall, the condition-based pavement asset valuation method comprehensively considers each stage of pavement operation and can serve as an effective tool for evaluating pavement asset depreciation. This research finding can promote the sustainable development of road infrastructure.

Valuasi Ekonomi Ekowisata Arboretum Aek Natonang Kecamatan Simanindo Kabupaten Samosir Provinsi Sumatera Utara dengan Pendekatan Travel Cost Method

Aek Natonang Arboretum Ecotourism in Samosir Regency, North Sumatra Province has natural beauty that can be used as a tourist attraction for every visitor. The natural beauty that is owned in reality is not calculated into economic value or market value, so it is important to do economic valuation. By doing this research, it can be known the characteristics of visitors, the amount of economic value of Aek Natonang Arboretum ecotourism based on the travel cost method and find out the factors that influence the intensity of visits. The economic valuation method used is the travel cost method. The travel cost method is applied to estimate the economic value of Aek Natonang Arboretum ecotourism by calculating the cost of travel expenses. Data on travel costs and the number of visits were collected through interviews using questionnaires to visitors within a certain period of time. Then proceed with multiple linear regression analysis to determine the factors that affect the intensity of ecotourism visits to Aek Natonang Arboretum. The results of economic valuation with the travel cost method obtained an average value of Rp238.170,00/visit and the economic value of Aek Natonang Arboretum ecotourism is Rp2.358.359.340,00/year. Factors that influence the intensity of visits are distance, length of travel and travel costs.

Application of the Merchandise Inventory Accounting System at the Rejo Sari Store, Kepahiang District

The scope of this research is about the Application of the Merchandise Inventory Accounting System at the Rejo Sari Store, Kepahiang District. The purpose of this study was to see the application of the inventory accounting system at the Rejo Sari Store, Kepahiang District based on PSAK No. 14 of 2009. The data analysis method used is descriptive qualitative method. The object of research includes (1) the procedure for recording the cost of goods sold (2) the procedure for recording the cost of goods sold (3) the procedure for recording the cost of goods sold returned to suppliers (4) the procedure for requesting and issuing warehouse goods (5) the procedure return of warehouse goods (6) physical inventory counting system. Research subjects include shop owners, finance department, and Warehouse department. Data collection techniques are Observation, Interview, and Documentation. The analysis technique uses a qualitative descriptive analysis technique. The results obtained show that the inventory recording system, inventory valuation method, and inventory presentation in the financial reports of Toko Rejo Sari, Kepahiang District, are not made in accordance with PSAK No. 14 of 2009. Rejo Sari Stores, Kepahiang District, should apply PSAK No. 14 of 2009 on the preparation of its financial statements. Implementing a merchandise inventory recording system by making inventory cards that are recorded both manually and by using a computerized system. Checking inventory records to avoid unwanted things such as fraud, loss and expiration.

Evaluating the costs of primary forest conservation in the Democratic Republic of Congo, implications for policy and practice

Accurate cost information is needed to assess the trade-offs in land management choices for policy and markets to effectively scale forest conservation impact. Choice of valuation method can affect value estimates of the costs associated with forest conservation for heterogenous rural households in poorly functioning markets. We present empirical evidence on the divergence in measures between a market price and contingent valuation estimate for costs of local forest access restrictions from household surveys deploying quantitative valuation methods, conducted in two forest communities in the Democratic Republic of Congo. Household demographic characteristics and attitudes of the household on forest use significantly influence required levels of compensation to participate in forest protection. Quantitative knowledge of such costs can help in the design of efficient and effective policies to protect primary forests aimed at reducing the drivers of deforestation.

Path to Realizing the Value of Data Assets: A Case Study of AF Entertainment

Over recent years, big data and its derivatives have become significant indicators reflecting a company's operational status. Consequently, focusing on data asset construction has increasingly become an unavoidable topic in business management. This paper examines AF Entertainment as a case study to analyze the composition, realization path, valuation methods, approaches to identification, measurement, disclosure, and summarizes its role in corporate development, future trends, and suggestions to promote standardized development of data assets.

Cultural Ecosystem Services and Farmer’s Willingness to Pay. A case study in Agricultural Communities in South Tapanuli

The study focuses on valuing Cultural Ecosystem Services (CES) in the Sibual-buali area of South Tapanuli, North Sumatera, Indonesia, and its implications for agricultural development and conservation. The research aims to characterize CES and determine their economic value by assessing farmers' willingness to pay (WTP). Using a descriptive and quantitative research design, a household survey with 71 respondents was conducted using the contingent valuation method (CVM). The study reveals the cultural heritage values and community involvement in conserving CES, demonstrating a deep understanding of the forest's protection and the interconnectedness between the forest, agriculture, and community well-being. The findings emphasize the importance of local wisdom, traditional knowledge, and community engagement in agriculture and CES preservation. Additionally, the study identifies education and income as influential factors in respondents' WTP for CES, indicating their positive impact on environmental valuation and conservation efforts. Gender, marriage status, and age were found to have no significant influence on WTP. These findings contribute to comprehending the economic significance of CES and its relationship to sustainable agricultural practices.

Role of Forensic Accounting in Uncovering Accounting Fraud

This study concentrated on the Role of Forensic Accounting in Uncovering Accounting Fraud with reference to Guaranty Trust Bank Enugu Metropolis. The study amongst others examines the role, scope and tools of forensic accounting in detecting accounting fraud. For the objective to be achieved, questionnaire was used as a major source of data. 81 respondents were used as total population while 67 was used as the sample size of the study. Taro-Yamane statistical tool was applied as a method for sample size determination. Table and five point likert style was used for presentation and analysis of data. chi-square was used for test of hypothesis. The findings indicates that the roles of Forensic accounting in detecting accounting fraud is identification of fraud such as fake teller valuations, suspicious bankruptcy valuations, and analysis of financial documents in fraud schemes, the scope of forensic accounting in detecting accounting fraud are litigation support and investigative accounting services and the forensic accounting tools in detecting accounting fraud are training, mindset, risk assessment, systems analysis, mathematical modeling and exception reporting. The study therefore recommended that different organizations should always advocate forensic accounting as a means of uncovering accounting fraud because it will always help for quick identification of fake teller/receipt, suspicious bankruptcy and analysis of financial documents through valuation method, management of business entities both private and public should try all possible means in focusing on the main scope of forensic accounting such as litigation and investigation services for it help for proper detection of accounting fraud at the right time in a way it will not affect the profitability of business and training, mindset mathematical modeling and others as tools of forensic accounting should be employ by organizations an

The Value of Surface Freshwater Supply Services in the Wetlands of Jilin Province, China

Wetlands are ecologically and socioeconomically crucial areas. The application of economic valuation methods could ensure the sustainable utilization of wetlands. Utilizing wetland survey data from Jilin Province, China, representative of the years 2013 and 2017, we assessed the market value of water obtained from wetlands. Simultaneously, we employed the PLUS model to predict changes in wetland areas of different types over the next decade and analyzed their impact on the value of freshwater resource supplies. The results indicate the following points: (1) the area of wetlands decreased from 10,852.84 km2 in 2013 to 10,794.46 km2 in 2017 and that, in 2027, this was projected to further decrease to 10,614.37 km2, with river wetlands experiencing the most substantial decline; (2) the freshwater volumes in 2013 and 2017 were 20.81 × 108 and 20.09 × 108 m3, respectively, representing a 3.58% decrease. The volume for 2027 was projected to further reduce to 19.74 × 108 m3, with lake wetlands contributing the most to water resources and marsh wetlands contributing the least; and (3) the obtained total value of freshwater continuously increased, rising from CNY 8.384 billion in 2013 to CNY 8.642 billion in 2017, and this was projected to further increase to CNY 9.101 billion in 2027. There was regional variation in the value of wetland freshwater resource supplies, with differences in the per unit area and per capita value among administrative units. These findings can facilitate the optimal allocation of freshwater resources in Jilin Province, promoting its sustainable development while ensuring wetland conservation.

An Empirical Analysis on the Feasibility of Financial Valuation of Technology Companies: A Fundamental Analysis Approach Based on Value Investing

This study addresses the significant challenge of accurately valuing internet companies in the contemporary business landscape, recognizing existing research gaps due to the limited applicability of conventional valuation methods such as Net Present Value (NPV) and Price to Earnings (PE) ratios in this emergent industry. This paper conducted a fundamental analysis based on the principles of value investing, utilizing 2022 financial data from thirteen internet companies listed in Forbes Global Technology companies. Key financial aspects, including liquidity, debt-servicing capacity, profitability, and shareholder returns, were meticulously analyzed. The findings reveal that internet companies face cash flow pressures impacting their liquidity. Despite a moderate long-term debt ratio, companies exhibit substantial reliance on debt financing, encountering difficulties in interest payments. While these firms demonstrate a capacity for profitability, they concurrently face intense competition and cost pressures. The market sentiment remains highly optimistic regarding the future prospects of internet companies, reflecting elevated valuations. In light of favorable market conditions, it is imperative for internet companies to strategically enhance competitive advantages, bolster core product competitiveness, and amplify profitability through innovative operational and marketing strategies, thereby augmenting their industry influence and societal impact.

Research of Golden Investment Opportunity of the Blue-Chip Dividend King

Johnson & Johnson (JNJ) stands as a titan in the healthcare conglomerate sector, having long played a significant role in the global market. This paper undertakes a literature review methodology to delve deeply into JNJ's historical context, diverse business arms, and financial prowess. A Discounted Cash Flow (DCF) and comparative valuation method are applied to assess JNJ's investment potential, supported by a rigorous risk evaluation encompassing various facets from market dynamics to legal challenges. Concurrently, the study gauges the alignment of JNJ's strategies with prevailing pharmaceutical and healthcare trends. Conclusively, the analysis suggests tailored investment recommendations, encapsulating both immediate and future outlooks. The primary objective is to furnish prospective investors with a well-rounded assessment of JNJ's investment promise.

Economic Value of Ocean Education in Korea Using the Contingent Valuation Method (CVM)

Economic Value of Ocean Education in Korea Using the Contingent Valuation Method (CVM)

Modern trends in the development of corporate social responsibility

In today’s rapidly changing global landscape, corporate social responsibility (CSR) has become an important component of the activities of enterprises striving for prosperity and maintaining a positive public image. According to the School of Classical Economics, the only task of the company is to obtain maximum profit by legal means. Within this framework, the company — by its nature — strives for economic benefits, according to which it is evaluated as successful or not, and does not seem to care about its social responsibility. However, with the development of social production and the rapid increase in the number and size of companies, much attention has been paid to the «theory of stakeholders», and it has become the subject of research. In fact, some researchers are putting forward innovative views on CSR, which is increasingly becoming a matter of serious concern, and as a result, more and more guidelines related to CSR are being implemented at the international level. Meanwhile, various coalitions, codes of conduct, valuation methods and investment standards have been developed for companies. But even though the concept of CSR is widely recognized around the world, there is still no consensus on what CSR is, what it covers and how it should be applied.

Phytol and (−)-α-bisabolol Synergistically trigger intrinsic apoptosis through redox and Ca2+ imbalance in non-small cell lung cancer

This study aimed to identify a combination of natural compounds that could enhance lung cancer treatment by targeting multiple pathways and reducing toxicity. The Chow-Talay method's CI value of 0.75 demonstrated that the synergistic combination of phytol and (−)-α-bisabolol (Phy + Bis) exhibited a significant anti-proliferative effect on A549 cells. After 24 h of treatment, Phy + Bis significantly altered the morphology of A549 cells and activated apoptosis. Increased levels of reactive oxygen species (ROS) are evidence that the combination treatments induced oxidative stress. Consequently, there was an increase in intracellular calcium concentration ([Ca2+]i), leading to perturbations in the membrane potential (ΔΨm). Intrinsic apoptosis was triggered by these effects, which resulted in depolarization of the mitochondrial membrane, activation of Cas 9 and Cas 3, upregulation of Bax and Cyt-C, and downregulation of Bcl-2. Phy + Bis also caused G0/G1 phase arrest and cell senescence, with senescent cells expressing more p53. The combined therapy prevented the migration of A549 cells, possibly by interfering with the polymerization of the actin cytoskeleton. Importantly, Phy + Bis did not have any harmful effects on human lung L-132 cells, red blood cells, peripheral blood mononuclear cells, and an in vivo artemia model. Overall, phytol and (−)-α-bisabolol appear to be a promising combination as a safe and effective therapy choice for non-small cell lung cancer.

P19 The role of policy and key stakeholder decision-making in the propagation, and deceleration, of resistance evolution

Abstract Background Antimicrobials have an intangible value on reducing global health burden of infection, yet current valuation methods do not holistically capture the enablement of healthcare as a result of antimicrobials. A lack of incentive and subsequent investment into the novel antimicrobial pipeline demonstrates the urgent need for collaboration amongst those influencing the decision-making process, namely key stakeholders such as governmental bodies, industry and academia. Studies into resistance evolution focus almost entirely on proximate causes, such as the number of antibiotics used in clinical settings, or the understanding of evolutionary pathways to resistance under controlled laboratory conditions. Comparatively, the association between resistance evolution and policy decisions from governments, industry and regulatory bodies is poorly understood. Objectives The primary aim was to evaluate the multifactorial associations between β-lactam development and evolution of β-lactam resistance to inform the current and future antibiotic development pipeline. Methods To undertake this narrative report, we focussed on β-lactam antibiotics, given their clear development timeline and continuous molecular refinement to meet arising clinical and microbiological needs. As such, the evolution of resistance to β-lactams poses a significant threat to mortality, quality of life, and societal function. This report consists of six historical case studies, all of which have significantly influenced the antimicrobial resistance landscape since Fleming’s discovery of penicillin in 1928. We include lesser-known events in our narrative, such as the establishment of the National Research and Development Corporation (NRDC), which propelled the mass commercialization of penicillin, and the subsequent emergence of penicillinases. Pivotal events such as the emergence of ESBL and MBLs into clinical settings also provide insight into the historical decision-making process by key stakeholders such as governmental bodies, industry and academia. Literature reviews were conducted with a focus on the initial introduction of a particular β-lactam into the clinic and when resistance arose. Key stakeholder activities and policy decisions made during these time periods influenced the formation of case studies. Results The case studies are as follows: (i) the influence of the NRDC in accelerated antimicrobial development; (ii) the introduction of the β-lactamase inhibitor—the influence of short-term clinical and financial benefit on prescribing behaviour; (iii) the ‘golden era’ of antibiotics—cephalosporin development and the consequences of short-term market forces; (iv) knowledge of MBL resistance prior to introduction of carbapenems in clinical settings; (v) consequences of controlled manufacturing for the global supply of piperacillin/tazobactam; and (vi) early surveillance studies and the beginning of the antimicrobial stewardship agenda. Conclusions In each case study we provide insight into how key stakeholders can improve practices by learning from past experiences, to inform the future stewardship agenda. We built a case for the need to incorporate evolutionary microbiology into policy and industrial decision-making in order to improve the mitigation of antimicrobial resistance.

Assessment of Claimants’ Attitudes towards Compulsory Land Acquisition and Compensation in Osogbo, Nigeria

Comprehending the attitudes of claimants towards compulsory land acquisition and compensation is crucial in assessing the overall efficacy of the process. This exploration aids not only in gauging public sentiment but also in shaping policies and approaches that foster cooperation and equitable outcomes. This study focused on the assessment of claimants’ attitudes towards compulsory land acquisition in Osogbo, Osun State, Nigeria. Data on claimants were obtained from 244 landholders whose lands were compulsorily acquired for rail track construction at Phase I, Osogbo. Frequency distribution, weighted mean scores, and factor analysis were employed to analyze the collected data in order to examine the behaviors exhibited by claimants and the factors contributing to those behaviors. The study revealed that the lack of a resettlement plan, inadequate time given for relocation, and insufficient compensation award to replace assets were triggers for the various behaviors exhibited by claimants. Factor analysis was used to analyse a 14-item factor instrument employed to examine the factors influencing claimants' behavioral attitudes toward compulsory land acquisition and compensation in the study area. The result yielded four distinct factors which include “Preliminary Factors leading to Inadequate Compensation” as Factor 1, "Factors Leading to Resistance by Claimants," as Factor 2, "Factors Leading to Inadequate Relay of Notices," and "Inadequacies in the provisions of the Land Use Act on Valuation Methods for Compulsory Land Acquisition and Compensation," as Factors 3 and 4 respectively. The study recommended that the Land Use Act be amended to align with present-day realities, incorporating considerations for land values and associated impacts, including the costs of claimants' relocation. This would alleviate the stress and social challenges faced by those affected by land acquisition, dousing the society tensions associated with it.

Willingness to pay for pesticide-free vegetables in Hokkaido, Japan: the relationship between appearance and pesticide use

Most Japanese consumers focus on the appearance of vegetables, for example, their shape, color, or size. However, giving consumers precise information about the growing process of vegetables may change their preferences. Therefore, in order to reduce food loss, it is important to change consumers’ preferences for vegetables and for producers to understand consumers’ preferences and select vegetable production methods. Japanese supermarkets sell vegetables containing legally permissible amounts of pesticides and chemical fertilizers, and chemical-free vegetables are generally hard to find. Therefore, in this study, pesticide-free vegetables were cultivated from scratch to analyze whether consumers are willing to pay a premium when presented with pesticide-free vegetables. The contingent valuation method and double-bound dichotomous choice were used for analysis. The results revealed that consumers’ willingness to pay was not related to the appearance of the pesticide-free vegetables. In other words, they cared neither about the color nor the shape of the vegetables so long as they were pesticide-free. In Japan, some farmers continue to grow organic or pesticide-free vegetables, although they are few. Therefore, if producers know the actual needs of consumers’ vegetables, they may reduce their dependence on pesticides and chemical fertilizers and expand the market for environmentally friendly and healthy vegetables. Such a change could, in turn, reduce food loss.

Adjusted Purchase Price as A Method of Valuing Financial Assets and Liabilities

The development of accounting in modern times is accompanied by the emergence of new valuation methods. Today, assets and liabilities are disclosed not only in simple categories, such as purchase price, nominal value or production cost. National and international regulations introduce more complex valuation methods. One of them is the adjusted purchase price method, known in international regulations as the amortized cost method. The following article will present the essence of the adjusted purchase price method, the assets and liabilities that can be valued according to this method, as well as a comparison of the discussed valuation method with accounting principles.

Методичний підхід до рейтингової оцінки конкурентоспроможності податкових систем країн Європи

The aim of the study is to develop an alternative scientific and methodological approach to the rating assessment of the level of competitiveness of the tax system of the leading countries of the world. A review of scientific studies devoted to the integral assessment of tax systems of different countries showed a variety of approaches to the choice of indicators and valuation methods. Despite the obvious positive aspects of the methodology for calculating the International Tax Competitiveness Index (ITCI), there are claims regarding the number of indicators and the methods for calculating final scores in subcategories and categories. A methodical approach to an alternative integral assessment of the level of tax competitiveness based on the use of the model of the iterative method of principal components is proposed, which made it possible to compile a ranking of the level of efficiency of the tax systems of European countries in 2023. The presented model is easily implemented without the involvement of special applied statistical programs. Ukraine (like most countries with developing economies) is not yet among the 38 countries of the Organization for Economic Cooperation and Development, so the official ITCI index for Ukraine can only be calculated unofficially. The taxation system of Ukraine is characterized by both positive indicators and some shortcomings. Therefore, in order to improve the tax system of Ukraine, it is necessary to study the positive and negative experience of other countries and determine the factors influencing the country’s position in the ranking of international tax competitiveness. In the course of further research, it is necessary to critically review the system of indicators, excluding the ones that do not significantly affect the final result, but can lead to certain errors.