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The Transactional Assets Pricing Approach: Its Application in Professional Business Valuation and Fair Value Theories

Author

Listed:
  • Vladimir B. MICHALETZ
  • Andrey I. ARTEMENKOV - GYY University
  • Israel

Abstract

In this Paper we provide a review of The Transactional Assets Pricing Approach (V. Michaletz (2005a), V. Michaletz, A. Artemenkov and I. Artemenkov (2007); V. Michaletz and A. Artemenkov (2018)) and chart its practical areas of applicability within the continuum of existing Economic Measurement specialisms. In particular, we provide an example of its application to valuing a business against the S&P 500 benchmark and highlight the relevance of TAPA to providing valuations performed on the basis of Equitable/Fair Value, as this basis of valuation is defined in the IVSs 2017 edition. The Paper concludes that the characteristics of Professional valuation, as of a discussed specialism within Economic Measurements, render the TAPA framework particularly amenable to applications within this field.

Suggested Citation

  • Vladimir B. MICHALETZ & Andrey I. ARTEMENKOV - GYY University & Israel, 2017. "The Transactional Assets Pricing Approach: Its Application in Professional Business Valuation and Fair Value Theories," The Valuation Journal, The National Association of Authorized Romanian Valuers, vol. 12(2), pages 52-99.
    • Handle: RePEc:vaj:journl:v:12:y:2017:i:2:p:52-99
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    More about this item

    JEL classification:

    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory

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