Abstract
The paper presents results of author’s own research on business valuation. The research was conducted among experts in business valuation. A total of 182 experts was surveyed. The article attempts to answer the following questions: whether and to what extent are business valuation standards (BVS) conducive to improving the quality of valuations? Do the experts find business valuation standards necessary? Are there differences in the perception of the phenomena connected with valuation between experts working on the U.S. market, where BVS are well-established, and experts from other countries such as Poland and Romania where these standards have a shorter history?
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsNotes
- 1.
Part of the research embraced problems that experts encounter while conducting valuation, these results are presented in Szymański (2012).
- 2.
Χ 2 = 63.320 for a critical value of Χ 2 = 26.217 at 12 degree of freedom and 0.01 significance level.
- 3.
Χ 2 = 22.938 for a critical value of Χ 2 = 21.666 at 9 degree of freedom and 0.01 significance level.
- 4.
Χ 2 = 22.494 for a critical value of Χ 2 = 21.666 at 9 degree of freedom and 0.01 significance level.
- 5.
Χ 2 = 23.521 for a critical value of Χ 2 = 21.666 at 9 degree of freedom and 0.01 significance level.
- 6.
Χ 2 = 35.794 for a critical value of Χ 2 = 30.578 at 15 degree of freedom and 0.01 significance level.
- 7.
Χ 2 = 27.829 for a critical value of Χ 2 = 21.666 at 9 degree of freedom and 0.01 significance level.
- 8.
Χ 2 = 32.748 for a critical value of Χ 2 = 30.578 at 15 degree of freedom and 0.01 significance level.
References
APES 225 Valuation Services (2012) Accounting Professional and Ethical Standards Board
ASA Business Valuation Standards (2009) American Society of Appraisers
Business Valuation Standards, The Hong Kong Business Valuation Forum, November 2005
Hitchner JR (2006) Financial valuation. Applications and models. Wiley, Hoboken, NJ
IDW Standard: Principles for the Performance of Business Valuations (2009) (IDW S 1 Version 2008), IDW Verlag GmbH, Institut der Wirschaftsprüfer in Deutschland, Düsseldorf
Independent Business Valuation Engagements, Advisory Engagement Standard 2 (2013) Council of the Institute of Chartered Accountants of New Zealand
International Valuation Standards. International Valuation Guidance Note No. 6. Business Valuation (2011) The International Valuation Standards Committee
Lieberman MJ, Anderson D (2008) Will the real business valuation standards please stand up? The AICPA’s SSVS compared to USPAP and other business valuation standards. CPA vol. LXXVIII, no. 1, J:22
Nota (2010) Interpretacyjna NI 5, Wycena przedsiębiorstw, Powszechne Krajowe Zasady Wyceny (PKZW), XIX Krajowa Konferencja Rzeczoznawców Majątkowych, Udział rzeczoznawców majątkowych w wycenie przedsiębiorstw. Zasady dobrej praktyki zawodowej, Polska Federacja Stowarzyszeń Rzeczoznawców Majątkowych, Kielce
Pratt SP, Niculita AV (2008) Valuing a business. The analysis and appraisal of closely held companies, 5th edn. McGraw-Hill, New York
Professional Standards (2008) National association of certified valuation analysts
Professional Standards (2011) The Institute of Business Appraisers
Standard no 110 (2009) The Canadian Institute of Chartered Business Valuators
Standard no 120 (2009) The Canadian Institute of Chartered Business Valuators
Standard no 130 (2009) The Canadian Institute of Chartered Business Valuators
Standard no 210 (2010) The Canadian Institute of Chartered Business Valuators
Standard no 220 (2010) The Canadian Institute of Chartered Business Valuators
Standard no 230 (2010) The Canadian Institute of Chartered Business Valuators
Standard no 310 (2010) The Canadian Institute of Chartered Business Valuators
Standard no 320 (2010) The Canadian Institute of Chartered Business Valuators
Standard no 330 (2010) The Canadian Institute of Chartered Business Valuators
Standard no 410 (2010) The Canadian Institute of Chartered Business Valuators
Standard no 420 (2010) The Canadian Institute of Chartered Business Valuators
Standard no 430 (2010) The Canadian Institute of Chartered Business Valuators
Standard no 510 (2010) The Canadian Institute of Chartered Business Valuators
Standard no 520 (2010) The Canadian Institute of Chartered Business Valuators
Standard no 530 (2010) The Canadian Institute of Chartered Business Valuators
Szymański P (2012) What problems does business valuation practice encounter—survey. Bus Valuat Rev 31(1):4–22
Valuation of a Business, Business Ownership Interest, Security, or Intangible Asset (2007) Statement on standards for valuation services. American Institute of Certified Public Accountants, New York
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2016 Springer International Publishing Switzerland
About this paper
Cite this paper
Szymański, P. (2016). Do Business Valuation Professionals Need Business Valuation Standards?. In: Dudycz, T., Osbert-Pociecha, G., Brycz, B. (eds) The Essence and Measurement of Organizational Efficiency. Springer Proceedings in Business and Economics. Springer, Cham. https://doi.org/10.1007/978-3-319-21139-8_18
Download citation
DOI: https://doi.org/10.1007/978-3-319-21139-8_18
Publisher Name: Springer, Cham
Print ISBN: 978-3-319-21138-1
Online ISBN: 978-3-319-21139-8
eBook Packages: Business and ManagementBusiness and Management (R0)