From Pandemic to Geopolitical Turbulence: Twists and Turns of the Appraisal Market

DOI: 10.33917/es-3.189.2023.77-85

Methodology for studying the strategic potential of valuation companies in Russia is based on applying the “Strategic Matrix of the Company” software package, its algorithm involves the analysis of qualitative and quantitative indicators that allow to build a complete profile of the company and to give a scenario forecast of its development. The main qualitative parameters under analysis are: the degree of innovation and differentiation of services, the competition level and the market position of the company, priority of certain strategic goals in the company’s activities, effectiveness of motivation, corporate culture and ability to quickly access the necessary resources.

References:

1. The 10 innovations and disruptions that will impact property valuation. CBRE. 2022. 22 November, available at: https://www.cbre.com.au/insights/articles/ The-10-innovations-and-disruptions-that-will-impact-property-valuation.

2. Neopredelennost’ i chuvstvennyi vybor: kakim byl rynok nedvizhimosti v 2022 g. [Uncertainty and Sensual Choice: what the Real Estate Market was Like in 2022]. ROO Assotsiatsiya “Russkoe obshchestvo otsenshchikov”, 2022, 20 dekabrya, available at: http://sroroo.ru/press_center/news/3690904/

3. Spiridonov F.F. Otsenochnye kompanii dolzhny imet’ khoroshuyu reputatsiyu i dorozhit’ eyu [Evaluation Companies Shall Have Good Reputation and Value it]. Ekonomicheskie strategii, 2013, no 4, pp. 64, 65.

4. Rekomendatsii dlya otsenshchikov iskhodya iz tekushchei situatsii i tendentsii kratkosrochnogo perioda [Recommendations for Appraisers Based on the Current Situation and Short-term Trends]. SMAO, 2022, 18 marta, available at: https://smao.ru/press/news/smao/rekomendatsii_dlya_otsenschikov_ishodya_iz_
tekuschey_situatsii_i_tendentsiy_kratkosrochnogo_perioda.

5. Metodicheskie raz”yasneniya po opredeleniyu stoimosti v usloviyakh vysokoi neopredelennosti vneshnikh faktorov [Methodological Explanations for Determining the Value in Conditions of high Uncertainty of External Factors]. Ekspertnyi sovet, available at: https://srosovet.ru/press/news/040322-2/

6. Kosorukova I.V. Standartizatsiya otsenochnoi deyatel’nosti: problemy i analiz situatsii [Standardization of Valuation Activities: Problems and Situation Analysis]. Imushchestvennye otnosheniya v Rossiiskoi Federatsii, 2022, no 9(252), pp. 33–44.

7. Itogi i materialy nauchno-prakticheskoi konferentsii “Otsenochnaya deyatel’nost’ v sovremennykh usloviyakh”. 27 maya 2022 g., Moskva [Results and Materials of the Scientific-practical Conference “Evaluation Activity in Modern Conditions”. May 27, 2022, Moscow]. ROO Assotsiatsiya “Russkoe obshchestvo otsenshchikov”, available at: http://sroroo.ru/press_center/events/results/3616162/?ELEMENT_ID=3616162&back_url_admin=%2Fbitrix%2Fadmin%2Fiblock_
list_admin.php%3FIBLOCK_ID%3D18%26type%3Dpress_center%26lang%3Dru%26find_section_section%3D0.

8. Maksim Skatov. Vpisat’sya v standarty [Fit into Standards]. Kommersant”, 2022, 31 avgusta, available at: https://www.kommersant.ru/doc/5525875

Methods for Evaluating Digital Financial Assets as the Basis for Future Trade Turnover

DOI: 10.33917/es-3.189.2023.62-69

The author analyzes methods of cryptocurrency evaluation existing in foreign practice. Applicability of the comparative, income and cost approaches used in valuation activities, as well as possible methods within each of the approaches, is explored. It is determined that within the income approach, the discounted cash flow model and the exchange equation are applicable. The comparative approach involves the classic comparison of sales, while the cost approach contains two methods based on actual (energy cost method) and forecast (stock-flow ratio method) data.

References:

1. Kriptovalyuty: trendy, riski, mery: Doklad dlya obshchestvennykh konsul’tatsii [Cryptocurrencies: Trends, Risks, Measures: Public Consultation Report].

Moscow, Bank Rossii, 2022, available at: https://cbr.ru/Content/Document/File/132241/Consultation_Paper_20012022.pdf.

2. Nakamoto S. Bitcoin: A Peer-to-Peer Electronic Cash System. Combining and Splitting Value, 2008, no 9.

3. Grazhdanskii kodeks Rossiiskoi Federatsii [Civil Code of the Russian Federation]. Garant, available at: https://base.garant.ru/10164072/

4. Medium [Informational portal], available at: https://medium.com.

5. Kyriazis N., Papadamou S., Corbet Sh. A systematic review of the bubble dynamics of cryptocurrency prices. Research in International Business and Finance, 2020.

6. Cong Lin William, Ye Li, Neng Wang. Tokenomics: Dynamic adoption and valuation. The Review of Financial Studies, 2021.

7. Zhang Junhuan, Xu Yunqing. Cryptocurrency price bubble detection using log-periodic power law model and wavelet analysis. SSRN Papers, 2021.