1,720,967 research outputs found
Privatization of public enterprises in Nigeria: Valuation issues and problems
No full textPrivatization of public enterprises is a rapidly growing phenomenon in developing countries. However, it requires a lot of policy decisions and careful planning, which depend on high‐quality accounting and valuation data. But, the major controversy which trailed the first phase of privatization programmes in Nigeria is the asset valuation methodology. This article therefore examines valuation issues and problems besetting divestiture of public enterprises in the country and offers suggestions toward improving upon the quality of asset valuation for privatization.
First Published Online: 14 Oct 201
Unitization and securitization of property investment: Implications for future valuation
No full textProperty investments are now mobile, being tradable securities or listed units (vehicles) comparable to stocks/ shares in the financial market. Hence, the need for valuation to be a counterpart to investment and security analysis. But, current valuation practice in the country has not placed property in a wider economy and the analytical techniques of other markets. The paper therefore demonstrates how current valuation techniques in the property market can meet the needs of investors for listed or tradeable property assets in the country. It also examines the implications on the valuation profession as well as the attendant consequences that are likely to be associated with the quest for change. The study utilizes data from both the Nigerian property and capital markets using simple descriptive, non‐statistical, techniques.
First Published Online: 14 Oct 201
Building urban local governance fiscal autonomy through the property taxation financing option
No full textThis article attempts to answer questions in regard to decomonstrating the contribution of property taxation in building urban local governments\u27 autonomy
Building urban local governance fiscal autonomy through property taxation financing option
No full textThe continued productivity of urban economies depends upon the provision of urban infrastructure and social services. And, a large share of the service‐provision role is conventionally assigned to local government as tastes and preferences vary among individuals and communities. This requires financing the public expenditures and, although, there are other sources of revenue, taxation is very central to effective and efficient service‐delivery. The paper, therefore, examines the role of property taxation in this regard with a view to promoting and building urban local governance autonomy in cities of developing world. The paper also examines the essentials of a good property tax and problems of its administration in Africa urban local governments. Consequently, a prima facie case for property tax reforms is made in order to improve the revenue‐generating potentials of the tax. More importantly, the paper concludes that the real challenge towards sustainable fiscal autonomy for urban local governance in developing countries is to rally all actors or stakeholders at the policy planning and administration of property tax stages. This will ensure effective mobilization of all for the success of such tax.
First Published online: 18 Oct 201
Evaluating managers diversification of real estate portfolios: Evidence from Nigeria
Get PDFWhile there is evidence on the effectiveness of diversifying real estate portfolio geographically, or by property type, there is lack of empirical evidence to justify whether diversification of managers is worth pursuing. This study produces evidence on the effectiveness of diversifying by managers and property types. The study collected data on capital and annual rental values from three (3) main Property Investment and Development Companies in Lagos Metropolis, Nigeria. From the data so collected, annual total returns (IRR), on residential properties, for a period of between 1997 and 2001 on the managers’ portfolio were calculated. Under the assumptions that investments are held long and that constant correlation model or excess return to standard deviation represents the covariance structure of assets’ returns, the study\u27s analyses suggest that diversification of managers and property types produce improved performance. It also opens the possibility that an efficient portfolio developed by using constant correlation analysis may not be more efficient than a naively diversified portfolio as some of the naive diversification strategies are found to be effectively efficient.
First published online: 18 Oct 201
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Get PDF“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Get PDFWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
Implications of the current trend in mortgage valuation practice in Nigeria
No full textThe emerging concern on the reliability of property valuations coupled with the attendant consequences of growing number of distressed banks in Nigeria necessitate this study. Therefore, the study examined the mortgage valuation process including sources of valuation instructions, bases and methods being adopted and their implications on lending decisions and valuation profession in the study area. To accomplish the study, questionnaires were randomly administered on samples of estate surveying and valuation firms and lending institutions respectively in Lagos Metropolis. The data emanating there from were analysed using frequency distributions, ranking mean and relative important index ranking. The study, prima facie, established that mortgage valuation has been an important input in lending decisions. It further showed the implications of the blind adoption of the cost approach, inconsistency amongst valuers and non ‐ inclusion of insurance valuation in the mortgage valuation process.
Būsto paskolų vertinimas Nigerijoje: esamų tendencijų prasmė
Santrauka
Ši tyrimą paskatino didėjantis rūpestis dėl nekilnojamojo turto vertinimu variantiškumo bei tikslumo ir nuskurdusiu Nigerijos banku sukelti padariniai. Kadangi, priimant sprendimą suteikti paskola, vertinti ja būtina, tyrimo išvados galbūt padėtu ieškoti politiniu sprendimu dėlnesuvaldomo banku žlugimo šalyje. Todėl darbe nustatyta ir ištirta būsto paskolų vertinimo svarba, įskaitant vertinimo instrukcijų šaltiniu, pagrindu ir taikomu metodu reikšme, nagrinėtas būsto paskolų vertinimas, priimat sprendimus suteikti paskola, ir vertintojo profesija šioje srityje. Anketomis ir pokalbiu metu apklaustos 59 atsitiktine tvarka atrinktos turto tikrinimo bei vertinimo firmos (iš 146 aktyviai veikiančiu; iš viso yra 239 tokio pobūdžio firmos) ir 42 skolinančios institucijos iš 89, veikiančiu Lagose. Gauti duomenys išanalizuoti skaičiuojant pasiskirstymą, garantavimas ir santykines svarbos indeksą. Tyrimu nustatyta, kad teikiamas paskolas vertinti yra svarbu. Tolesne analize parodę, kad į būsto paskolų vertinimąneįeina draudimo vertinimas, aklai pasirenkamas sąnaudųaspektas ir vertintoju nuomones dėl būsto paskolų skiriasi. Tai, kas išdėstyta, skirta vertintojams, skolintojams arba kitiems vertinimo paslaugu vartotojams ir turto rinkai apskritai.
First published online: 18 Oct 201
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