Abstract
| 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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Valuation of family firms : The role of 'familiness'. / Hasso, Tim; Duncan, Keith.
2010. 1-28 Paper presented at Annual Conference of the European Accounting Association, Instanbul, Turkey.Research output: Contribution to conference › Paper › Research › peer-review
TY - CONF
T1 - Valuation of family firms
T2 - The role of 'familiness'
AU - Hasso, Tim
AU - Duncan, Keith
PY - 2010
Y1 - 2010
N2 - 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.
AB - 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.
M3 - Paper
SP - 1
EP - 28
ER -