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Is it possible to assess the truth of expert opinions focused on business valuation?
[Lze hodnotit pravdivost znaleckých posudků zaměřených na oceňování podniku?]

Author

Listed:
  • Miloš Mařík
  • Pavla Maříková

Abstract

The article responds to the inclusion of the criterion of truthfulness as a requirement for expert opinions in the new legal regulations governing expert activity. The aim of the article is therefore to discuss the extent to which the truth of expert opinions aimed at valuing the company can be assessed. The first part of the text discusses the possibilities of assessing the truth in the individual steps of valuing the company. The article shows that the veracity of this type of expert opinion can be assessed only to a very limited extent, because the valuation is largely based on estimates and forecasts. It is almost impossible to assess the veracity of the forecast from the point of view of the valuation date. In the second part of the article, other quality criteria are explained and analyzed, which are much more suitable for expert opinions on the business valuation than the criterion of truthfulness.

Suggested Citation

  • Miloš Mařík & Pavla Maříková, 2020. "Is it possible to assess the truth of expert opinions focused on business valuation? [Lze hodnotit pravdivost znaleckých posudků zaměřených na oceňování podniku?]," Oceňování, Prague University of Economics and Business, vol. 13(1-2), pages 15-32.
    • Handle: RePEc:prg:jnloce:v:13:y:2020:i:1-2:id:2020_1_02:p:15-32
    DOI: 10.18267/j.ocenovani.244
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    More about this item

    Keywords

    Value; business valuation; expert opinion; truthfulness; quality; Hodnota; ocenění podniku; znalecký posudek; pravdivost; kvalita;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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