Wicked Valuations

Traditional valuation approaches are increasingly recognised as being insufficient to address the wicked valuation problems of the diverse peoples and groups that inhabit the globe from north, south, east to west. This book demonstrates the limitations of science and, in particular economics, as the foundation on which valuations are traditionally based. It demonstrates the importance of and provides justification for the personal, cultural values and norms which underpin our assessment of "value", and the fact that these vary across the world. In Wicked Valuations Michael McDermott develops a means of engaging with highly complex valuation problems. His autoethnography provides a lens to draw on knowledge and experience from his 40 years in land valuation in Africa and the Asia-Pacific, while documentary analysis is used to draw in the views of other valuation practitioners and scholars who are becoming increasingly aware of the need to develop ways to adapt land valuation processes to the complexity of our contemporary landscapes.

Offering fresh insights into the key emerging issues in the field, including the changing socio-economic contexts brought about by the rise of the millennial generation and the creative class, the Covid-19 pandemic, and a greater emphasis on social responsibility, this forward-looking Research Agenda critically debates and rethinks theories and practices in the property sector.

The Routledge Handbook of Contemporary Issues in Expropriation reviews the contemporary major issues involving expropriation (eminent domain/compulsory purchase) in an international context. Expropriation is a right reserved to all governments, and, thus, it has an impact on all societies. This book, the first of its kind, considers the essential issues from the point of view of both developing and developed countries, and their needs for major infrastructure projects. The content covers major issues, principles and policies and includes the experiences of and examples from different countries and regions, including Australia, Asia, China, Europe, India and the USA. Rather than providing an in-depth examination of individual countries’ legal systems, the book focuses on international issues, and also provides a reflection on how national experiences can be related to global needs. Key themes include: Nature and quantum of compensation • Land rights and the acquisition of traditional land rights • Issues surrounding ‘public interest’ •Alternatives to expropriation •The future: “good practice”, debate and reform. This handbook is an essential resource for students and researchers in the areas of land policy, land law, property law and rights, and international development.

Fundraising for venture capital investments have continued to increase in recent years. One crucial step in the investment process is the valuation of the target company. Investors are faced with the great challenge of valuing a young venture without a corporate or financial history, a firm customer relationship or even a business model, while still taking into account the tremendous growth potential. Especially the valuation of technology companies is a difficult and often subjective process. Motivated by these considerations, this dissertation details a design science research project, which aims to develop an artifact that improves the indication of value in early-stage technology venture valuation while enabling operationalizable and fair valuation. This approach ensures a more meaningful valuation and better applicability to early-stage technology ventures compared to traditional methods while supporting the deliberate reduction of information asymmetries between entrepreneurs and investors. Firm-specific characteristics and practical applicability are taken into account.

Recent years have seen a globalization of property rights as the Western conception of property over land has extended across the world. As formerly community-owned land and natural resources are privatized and titling schemes proliferate, Property Rights from Below questions the trend toward treating land as a commodity and explores alternatives to the Western model. As we enter an era of resource scarcity and as competition for land and associated natural resources increases, purchasing power cannot become the sole criterion for land allocation; and the law of supply and demand in increasingly financialized markets cannot become the sole metric through which the value of land is determined. Using a range of examples from around the world, Property Rights from Below demonstrates that alternatives to this model often emerge from social innovations supported by local communities and that there is an urgent need for a broader political imagination when it comes to land governance. This innovative cross-disciplinary perspective on the pressing problems surrounding global property rights will be of interest to academics, students and professionals with an interest in property law, development economics and land governance.

Shopping malls in China create a new pseudo-public urban space which is under the control of private or quasi-public power structure. As they are open for public use, mediated by the co-mingling of private property rights and public meanings of urban space, the rise, publicness and consequences of the boom in the construction of shopping malls raises major questions in spatial political economy and magnifies existing theoretical debates between the natural and conventional schools of property rights. In examining these issues this book develops a theoretical framework starting with a critique of the socio-spatial debate between two influential bodies of work represented by the work of Henri Lefebvre and David Harvey. Drawing on the framework, the book examines why pseudo-public spaces have been growing so rapidly in China since the 1980s; assesses to what degree pseudo-public spaces are public, and how they affect the publicness of Chinese cities; and explores the consequences of their rise. Findings of this book provide insights that can help to better understand Chinese urbanism and also have the potential to inform urban policy in China. This book will be of interest to academics and researchers in both Chinese studies and urban studies.

Densification has been a central method of achieving smart, sustainable cities across the world. This book explores international examples of the property rights tensions involved in attempting to develop denser, more sustainable cities through compulsory acquisition of property. The case studies from Europe, North America, eastern Asia and Australia show how well, or not, property rights have been recognised in each country. Chapters explore the significance of local legal frameworks and institutions in accommodating property rights in the densification process. In particular, the case studies address the following issues and more: Whether compulsory acquisition to increase densification is justified in practice and in theory The specific public benefits given for compulsory acquisition The role the development industry plays in facilitating, encouraging or promoting compulsory acquisition What compensation or offsets are offered for acquisition, and how are they funded? Is there a local or national history of compulsory property acquisition by government for a range of purposes? Is compulsory acquisition restricted to certain types or locations of densification? Where existing housing is acquired, are there obligations to provide alternative housing arrangements? The central aim of the book is to summarize international experiences of the extent to which property rights have or have not been protected in the use of compulsory property acquisition to achieve sustainable cities via urban densification. It is essential reading for all those interested in planning law, property rights, environmental law, urban studies, sustainable urban development and land use policy.

Unique ethnographic study contributing to global debate on property rights and land reform in the developing world Makes an important contribution to the study of land and politics in Kenya and beyond Challenges the universal definition of property rights undergirding most contemporary land reforms