This research deals with the problem of the client–valuer relationship, possibly resulting in valuation biases. It aims to identify the influence of age and professional experience, along with other specific factors, on the perception and susceptibility of valuation professionals to pressure exerted by clients during the valuation process. We hypothesize that susceptibility to pressure from clients is conditioned by a number of factors, among which age and work experience are of key importance. The analysis is based on information obtained in a survey among Polish valuers who are members of professional associations. We used the linear probability and logit models. The conclusions of the analysis allow us to take a critical look at the existing institutional framework of the valuation profession in Poland. Our recommendations for revising the system may provide insights on the evolution of the profession, especially in Central and Eastern European countries where it is relatively new.
Research background: Based on the literature, several ways of assessing the conduct of business and a number of factors influencing the growth and development of the companies can be identified. However, the diversity of business entities and their business environment raises the importance of considering the unique nature of the industry in the selection of performance measures. Our research focuses on real estate valuation firms that provide information and consulting services to real estate markets. Purpose of the article: As professional practice shows, there are different business models for property valuation. These businesses differ in their organisational and legal form and the type of valuations performed, the type of client served, or the scope of services provided. The main purpose of the research is to identify factors that significantly affect the development odds of valuation companies in Poland, especially the growth of income. Methods: The study was based on data collected from the survey of Polish real estate valuers. The analysis was conducted on a sample of 277 professionals who own valuation companies and were certified no later than the end of 2014. A quantitative analysis using a logistic regression model was conducted to identify the factors that influence the prospects for valuation business growth. Findings & value added: The research confirms the relationship between the way of conducting real estate valuation activities and its development chances. The most important factors are a spatial and substantive range of services, cooperation and employment, and clients' profile. Demographic characteristics were also found to be significant. Although the results presented here are based on data from the real estate valuation industry, their relevance is much broader. The findings provide a better understanding of the factors that influence the performance and success of SMEs, particularly in the information and consulting industry.
The paper delivers original data on specialization in property valuation services in Poland. Its aim is to identify relatively homogeneous groups of property appraisers taking into consideration the scope of services performed by them and the types of clients served. Based on the survey results, it was possible to indicate major models in property valuation services consistent with market applications, which allows us to verify the thesis on specialization in doing business in property valuation. The research strategy approach is twofold. Firstly, we have used the agglomerative cluster method to divide the types of valuation services and appraisers’ clients in order to find groups of similar valuation services and represent the main models of business in property appraisals. Secondly, we have applied the k-means partition methods to find relatively homogenous groups of respondents, taking into account the frequency of carrying out the particular types of valuations and clients served. As a result of our research, we present four clusters combining valuations and client types which reflect the models of property valuers’ professional activity, i.e: the market-oriented housing valuation model, market-oriented commercial valuation model, non-market-oriented judicial valuation model and non-market- oriented public valuation model. Research findings confirm the existence of three out of the four specialization clusters within the professional activity. We also extracted a group of appraisers operating on a broad scale, both when it comes to the types of services offered and clients served.
Inwestycje prorozwojowe gmin w kontekście koncepcji odpowiedzialnego inwestowania * StreszczeniePolityka inwestycyjna gmin jest częścią polityki rozwoju lokalnego. Jej cele ukierunkowane są na zaspokajanie potrzeb społeczności lokalnej, m.in. w zakresie dostępu do infrastruktury technicznej i społecznej, jak również na budowanie potencjału gospodarczego obszaru. Mimo że polityka inwestycyjna gmin koncentruje się na potrzebach społeczności lokalnej, nie oznacza to, że sposób jej realizacji odpowiada zasadom inwestowania społecznie odpowiedzialnego.Artykuł ma charakter koncepcyjny i stanowi przyczynek do dalszych badań w tej dziedzinie. Jego celem jest wskazanie podstawowych obszarów społecznej odpowiedzialności Agnieszka Małkowska, Uniwersytet Ekonomiczny w Krakowie, Wydział Ekonomii i Stosunków Międzynarodowych, Katedra Ekonomiki Nieruchomości i Procesu Inwestycyjnego, ul. Rakowicka 27, 31-510 Kraków, e-mail: malkowsa@uek.krakow.pl Małgorzata Uhruska, Uniwersytet Ekonomiczny w Krakowie, Wydział Ekonomii i Stosunków Międzynarodowych, Katedra Ekonomiki Nieruchomości i Procesu Inwestycyjnego, ul. Rakowicka 27, 31-510 Kraków, e-mail: uhruskam@uek.krakow.pl Agnieszka Żak, Uniwersytet Ekonomiczny w Krakowie, Wydział Ekonomii i Stosunków Między-narodowych, Katedra Zarządzania Międzynarodowego, ul. Rakowicka 27, 31-510 Kraków, e-mail: agnieszka.zak@uek.krakow.pl * Artykuł powstał w wyniku realizacji projektu badawczego finansowanego ze środków przyznanych Wydziałowi Ekonomii i Stosunków Międzynarodowych Uniwersytetu Ekonomicznego w Krakowie w ramach dotacji na utrzymanie potencjału badawczego.
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