Join our 3rd Virtual Research Seminar on Monday, October 19, 2020 at 15:00 Tashkent time.
Dr. Andrey Artemenkov, Senior Lecturer, Finance Department, School of Business & Economics, WIUT, will present “Reconstructing the income approach theory of asset valuation based on the Transactional Asset Pricing Approach (TAPA)”.
Abstract: TAPA is a novel analytical valuation methodology recasting the traditional derivations of the income approach techniques, including DCF, from a transactional perspective based on the principle of inter-temporal transactional equity, instead of the conventional investor-specific view originating from Irving Fisher or lack of arbitrate argument developed by Modigliani and Miller. Unlike CAPM, TAPA is explicitly a multi-period asset pricing model, allowing for the use of time-variable discount rates under DCF. Novel justifications for the DCF approach, the direct income capitalization and the Gordon model will be presented. For researchers of market cycles, the TAPA view can provide a powerful tool for studying the impact of market cycles on asset pricing.
Join the seminar, link for participation:
Meeting ID: 914 9216 6329
BIO: Dr. Andrey Artemenkov is a researcher on Asset pricing and Valuation, now with the WIUT University Finance Faculty, and is a co-discoverer of the TAPA approach to valuation of income-producing assets. He is a valuer-member of the Royal Institution of Chartered Surveyors (RICS, UK) and an expert on Financial modelling and Infrastructure Investment analysis.
Research Seminars are a place where faculty and research assistants share completed research and work in progress. They receive valuable feedback to strengthen their research preparing them for conference presentations and publications. On occasion, visiting researchers from outside the University share their work.
Research Seminars are open to public.