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doi:10.22028/D291-42837
Titel: | Valuation Techniques Under Construction—About the Dissemination of the CAPM in German Judicial Valuation |
VerfasserIn: | Quill, Tobias |
Sprache: | Englisch |
Titel: | Schmalenbach Business Review |
Bandnummer: | 72 |
Heft: | 2 |
Seiten: | 299-341 |
Verlag/Plattform: | Springer Nature |
Erscheinungsjahr: | 2020 |
Freie Schlagwörter: | Actor-network-theory (ANT) Squeeze-out Litigation Mergers and acquisitions (M&A) Pressure/lobby groups Valuation standards |
DDC-Sachgruppe: | 330 Wirtschaft |
Dokumenttyp: | Journalartikel / Zeitschriftenartikel |
Abstract: | Valuation techniques, such as discounted cash flow and multiples, are applied in transactions and are also relevant for accounting, tax, and litigation issues. Within these and other valuation purposes, the techniques are crucial for “social interactions” like market processes and legal affairs. We examine this “social dimension” of business valuation and look especially at the advancement of valuation knowledge and techniques. For this purpose, we employ an approach based on “actor-network-theory” (ANT). In order to study specific margins of business valuation, the focus lies on the dissemination of the capital asset pricing model (CAPM) in German judicial valuation. We conclude, inter alia, that “the” CAPM has developed into a growing actor-network over the time, a well-established infra-structure which allows other actors to link to it. The CAPM-network deploys specific actors which enable to conduct or implement advantageous actions. In this context we discuss concepts like co-authorities, (vague) labelling, vague referencing and responsibility at a distance. Moreover, we identify specific arguments which are used by courts regarding the application of the CAPM. We suggest that these arguments are particular important to solidify and perpetuate the application of the model in judicial practice. The present study intends to shed light on the process of the construction of valuation techniques, the actors which are involved in this process, and the interactions of these actors. In doing so, we intend to facilitate and objectify the dialogue between actors in business valuation and thus to improve further ambitions to construct valuation techniques. |
DOI der Erstveröffentlichung: | 10.1007/s41464-020-00091-1 |
URL der Erstveröffentlichung: | https://link.springer.com/article/10.1007/s41464-020-00091-1 |
Link zu diesem Datensatz: | urn:nbn:de:bsz:291--ds-428372 hdl:20.500.11880/38415 http://dx.doi.org/10.22028/D291-42837 |
ISSN: | 2194-072X 1439-2917 |
Datum des Eintrags: | 12-Sep-2024 |
Fakultät: | HW - Fakultät für Empirische Humanwissenschaften und Wirtschaftswissenschaft |
Fachrichtung: | HW - Wirtschaftswissenschaft |
Professur: | HW - Keiner Professur zugeordnet |
Sammlung: | SciDok - Der Wissenschaftsserver der Universität des Saarlandes |
Dateien zu diesem Datensatz:
Datei | Beschreibung | Größe | Format | |
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s41464-020-00091-1.pdf | 670,81 kB | Adobe PDF | Öffnen/Anzeigen |
Diese Ressource wurde unter folgender Copyright-Bestimmung veröffentlicht: Lizenz von Creative Commons