Abstract
This paper distills three core value drivers common across thee accepted valuation models and explores the application of these core valuation elements in a family firm context,drawing on the empirical evidence in the discipline. We adopt a Resource-Base View (RBV) of the competitive advantage of family firms and show that the ~miliness ’factor is largely manifested in the firm "s intangible assets. However, extant accounting does not recognise these intangible assets in the book value of the firm. Thus valuation models predicated on book value as an input are miss-specified and do not reflect the intrinsic value of family firms.
| Original language | English |
|---|---|
| Pages | 1-28 |
| Number of pages | 28 |
| Publication status | Published - 2010 |
| Event | Annual Conference of the European Accounting Association - Instanbul, Turkey Duration: 19 May 2010 → 21 May 2010 Conference number: 33rd http://www.eaa-online.org/r/default.asp?iId=FGDIHK |
Conference
| Conference | Annual Conference of the European Accounting Association |
|---|---|
| Abbreviated title | EAA |
| Country | Turkey |
| City | Instanbul |
| Period | 19/05/10 → 21/05/10 |
| Internet address |
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Student Theses
Family ownership and the value-relevance of accounting information
Author: Hasso, T., 15 Jun 2013Supervisor: Duncan, K. (Supervisor) & Moores, K. (Supervisor)
Student thesis: Doctoral Thesis
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Cite this
Hasso, T., & Duncan, K. (2010). Valuation of family firms: The role of 'familiness'. 1-28. Paper presented at Annual Conference of the European Accounting Association, Instanbul, Turkey.