Please use this identifier to cite or link to this item: doi:10.22028/D291-31979
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Title: Agree or Disagree? On the Role of Negotiations for the Valuation of Business Enterprises
Author(s): Follert, Florian
Herbener, Jeffrey
Olbrich, Michael
Rapp, David J.
Language: English
Title: The quarterly journal of Austrian economics
Volume: 21
Issue: 4
Startpage: 315
Endpage: 338
Publisher/Platform: Transaction Publishers
Year of Publication: 2018
Publikation type: Journal Article
Abstract: In the division of labor, economizing valuations require an appraisement of the structure of market prices of goods beforehand. Yet, investment decisions concerning the purchase of an entire business enterprise, for example, necessitate considerations beyond appraisement. An economizing valuation of businesses must be based upon both appraisement and a genuine investment appraisal which provides the valuing person with the marginal price he can barely accept. However, even though the computation of this marginal price is a necessary step towards an economizing investment decision, it is still not sufficient. In case of a company purchase, the price to be paid is unknown beforehand. Therefore, an economizing valuation of firms not only requires both appraisement and investment appraisal but also a negotiation of the final price to be paid. Because the corresponding negotiation process must be characterized as a terra incognita in Austrian economics, this paper investigates in depth the negotiation between the involved parties as the final step towards their economizing valuations and discusses purposive negotiation tactics.
DOI of the first publication: 10.35297/qjae.010001
URL of the first publication: https://qjae.scholasticahq.com/article/7808-agree-or-disagree-on-the-role-of-negotiations-for-the-valuation-of-business-enterprises
Link to this record: hdl:20.500.11880/29564
http://dx.doi.org/10.22028/D291-31979
ISSN: 1936-4806
Date of registration: 25-Aug-2020
Faculty: HW - Fakultät für Empirische Humanwissenschaften und Wirtschaftswissenschaft
Department: HW - Wirtschaftswissenschaft
Professorship: HW - Prof. Dr. Michael Olbrich
Collections:UniBib – Die Universitätsbibliographie

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