The accuracy and appropriateness of discounted cash flows (DCFs) have been debated for
years in academia and industry. Broadly, for most valuations, appraisers use accounting …

Based on a comprehensive sample of 1,641 funds, this article investigates the performance
of private equity funds of funds versus direct fund investments. On a risk-adjusted basis …

Manda (2021) has modelled different cash flows in the South African REIT industry. The
cash flows are specifically equity cash flows (ECFs), capital cash flows (CCFs), free cash …

This study creates, models and calibrates the prices of real estate investment trusts (REITs)
within an option pricing framework. Unlike Barraclough et al.[(2013). Using option prices …

The aim of this paper is to shed new light on hedging discrete volatilities, in particular when
using the generalized autoregressive conditional heteroskedasticity (thereafter GARCH) …

This study explores the beta factor in the South African real estate investment trust (REIT)
industry. Using MASCOFLAPEC, historical, and Monte Carlo (vanilla, antithetic, and quasi …

The synchronized relationship between financial and fundamental prices has been topical
for years now. It seems that option pricing theory has not been used to disentangle that …

The valuation of real estate plays a major role in property market. In the valuation industry
there are various models used to estimate the value. The industry has made use of …

The Real Option technique is the valuation method for the real investment which offers
management flexibility to respond to the future risks (Black & Scholes, 1973; Merton, 1973; …

Emerging market countries are described as having rapid growth, large structural changes,
and the emergence of a larger middle class (Grohmann, 2018). At the same time, these …