VALUATION ISSUES RELATED TO THE MUTUAL FUNDS ASSETS

RUDI GEORGIEV

 

Abstract

This paper examines the problems and challenges related to the valuation of mutual funds assets. Six econometric tests were developed which prove the existence of weaknesses in the local regulatory framework that prescribes the criteria for fair value measurement of investments in shares of stock listed companies. Thus we consolidate the critical and increasing role and meaning of the alternative valuation techniques, as well as the necessity for their more regular application during the current conditions of economic crisis and illiquid Bulgarian stock-exchange market.

 

Keywords

valuation of investments in shares, mutual funds, measurement and criteria problems, fair value, alternative methods (techniques) for valuation, economic crisis, illiquid stock-exchange market, econometric tests, unification problems

 

JEL: G12, G18, G24

 

References

Георгиев, Руди, „Хармонизиране при оценяването на активите на договорните фондове – проблеми и предизвикателства“, Корпоративните пазари на формиращите се пазари – теория и практика, Сборник с доклади на трета научно-практическа конференция с международно участие, С., 2013г.

Damodaran, A., Damodaran on Valuation, Wiley, New York, 2006

Koller, T., Goedhart, M., Wessels, D., Valuation: Measuring and Managing the Value of
Companies., John Wiley & Sons, 2005

 

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