Comparative analysis of models for adjustment procedure in assets value independent evaluation performed by comparative approach

Authors

DOI:

https://doi.org/10.15587/1729-4061.2021.248011

Keywords:

independent evaluation, market value, comparative approach, additive model, multiplicative model

Abstract

This paper addresses the field of economic measurements of the value of assets, carried out by the methods of independent expert evaluation. The mathematical principles of application, within a comparative methodical approach, of additive and multiplicative models for correcting the cost of single indicator of compared objects have been considered. The differences of mathematical basis of the compared models were analyzed. It has been shown that the ambiguity in the methodology of correction procedure requires studying the advantages and disadvantages of known models, as well as the justification and elaboration of recommendations for their application.

Possible forms of correction representation using several alternative units of measurement have been defined; formulas for their interconnection have been built. Analytic expressions have been derived that mathematically describe the algorithms for performing the evaluation correction procedure using various forms of correction representation. The influence of the correction execution model on the characteristics of uncertainty in the independent evaluation result has been analyzed. The scope of two possible types of correction introduction models has been determined. A specific numerical example was used to demonstrate the methodological advantages of using a multiplicative model when summarizing percentage corrections. The independence of the correction result on the sequence of correction introduction has been confirmed. It is proposed to use the selected measure of partial corrections as a criterion for the adequacy of the correction introduction model. It is proved that the result of the independent expert evaluation depends on the chosen model and does not depend on the sequence of correction introduction.

The reported study results are important in terms of theory and practice since they make it possible to improve the accuracy and reliability of the result of independent expert evaluation.

Author Biographies

Yuri Pozdnyakov, Ukrainian Society of Appraisers (USOA)

Leading Expert Appraiser, Expert Сouncil Deputy in Lviv District

Zoryana Skybinska, Lviv Polytechnic National University

PhD, Associate Professor

Department of Accounting and Analysis

Tetiana Gryniv, Lviv Polytechnic National University

PhD, Associate Professor

Department of Accounting and Analysis

Igor Britchenko, Higher School of Insurance and Finance (VUZF)

Doctor of Economic Sciences, Professor

Department of Finance

Peter Losonczi, University of Security Management in Košice

Candidate of Economic Sciences, Vice-Rector for Scientific Work and Educational Process

Olena Magopets, Central Ukrainian National Technical University

PhD, Associate Professor

Department of Audit, Accounting and Taxation

Oleksandr Skybinskyi, Lviv Polytechnic National University

PhD, Professor

Department of Management and International Business

Nataliya Hryniv, Lviv Polytechnic National University

PhD, Associate Professor

Department of Marketing and Logistics

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Published

2021-12-28

How to Cite

Pozdnyakov, Y., Skybinska, Z., Gryniv, T., Britchenko, I., Losonczi, P., Magopets, O., Skybinskyi, O., & Hryniv, N. (2021). Comparative analysis of models for adjustment procedure in assets value independent evaluation performed by comparative approach. Eastern-European Journal of Enterprise Technologies, 6(13 (114), 80–93. https://doi.org/10.15587/1729-4061.2021.248011

Issue

Vol. 6 No. 13 (114) (2021): Transfer of technologies: industry, energy, nanotechnology

Section

Transfer of technologies: industry, energy, nanotechnology

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Copyright (c) 2021 Yuri Pozdnyakov, Zoryana Skybinska, Tetiana Gryniv, Igor Britchenko, Peter Losonczi, Olena Magopets, Oleksandr Skybinskyi, Nataliya Hryniv

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