Asset Valuation Model of Muntok White Pepper
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Jan 24, 2022
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Abstract
Findings from the previous studies of asset valuation models on the plantation commodities were still provided double-edged evidence. Hence, this study aimed to examine the best model for economic valuation on the Muntok White Pepper through the Stochastic Modelling Approach. South Bangka, West Bangka, and Belitung Regency were selected as the study locations. Study participants were pepper farmers in the white pepper cultivation central area in Bangka Belitung. Primary data of the price, income, cash-flow, and production cost of the pepper commodity collected through observation and interview sessions with the participants. These data provided information for the volume production, cultivated land area, production cost, and land maintenance. Multiple regression models enrolled to analyze the collected data. The best asset valuation model was selected by employing Akaike’s Information Criterion (AIC) dan Schwarz Information Criterion (SIC).Results revealed that the market price approach had provided the best model for the asset valuation of the Muntok White Pepper. The price of the pepper was set speculatively by the farmer
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PRANOTO, Yudi Sapta; SUMIYATI, Sumiyati.
Asset Valuation Model of Muntok White Pepper.
SOCA: Jurnal Sosial Ekonomi Pertanian, [S.l.], v. 16, n. 1, p. 55-62, jan. 2022.
ISSN 2615-6628.
Available at: <https://ojs.unud.ac.id/index.php/soca/article/view/70580>. Date accessed: 15 nov. 2024.
doi: https://doi.org/10.24843/SOCA.2022.v16.i01.p05.
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Articles
References
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Argilés, J. M., & Slof, E. J. (2010). European Accounting Review New opportunities for farm accounting, (November 2014), 37–41. https://doi.org/10.1080/09638180126640.
Badan Pengelolaan Pengembangan dan Pemasaran Lada (BP3L) Prov. Kepulauan Bangka Belitung. (2009). Buku Persyaratan Indikasi Geografis. BADAN Pengelolaan Pengembangan Dan Pemasaran Lada (Bp3l) Bangka Belitung.
Bosch, Josep, M., Aliberch, A. S., & Blandón, J. G. (2012). A Comparative Study Of Difficulties In Accounting Preparation And Judgement In Agriculture Using Fair Value And Historical Cost For Biological Assets. Revista de Contabilidad, 15(1), 109–142. https://doi.org/10.1016/S1138-4891(12)70040-7.
Cavalheiro, R. T. (2017). Fair Value for Biological Assets : An Empirical Approach Andréia Maria Kremer Régio Marcio Toesca Gimenes, 8(3), 55–68. https://doi.org/10.5901/mjss.2017.v8n3p55.
Damodaran, A. (2017). Investment Valuation 2nd Edition. www.stern.nyu.edu/~adamodar/New_Home_Page/papers.html.
Direktorat Jendral Kekayaan Intelektual Kementerian Hukum RI. (2015). Indeks Geografis Indonesia. Jakarta.
Elad, C. (2007). Fair value accounting in the agricultural sector : some implications for international accounting harmonization, (March 2015), 37–41. https://doi.org/10.1080/0963818042000216839.
Evans, M. E. (2014). The Predictive Ability of Fair Values for Future Financial Performance of Commercial Banks and the Relation of Predictive Ability to Banks ’ Share Prices *, 31(1), 13–44. https://doi.org/10.1111/1911-3846.12028.
Frank, Murray Z., & Shen, Tao. (2015). Investment and the weighted average cost of capital. Journal of Financial Economics (15). http://dx.doi.org/10.1016/j.jfineco.2015.09.001.
International Pepper Community. (2018). Pepper statistical yearbook 2018, (172). Jakarta.
Kung, H., & Schmid, L. (2015). Innovation , Growth , and Asset Prices, The Journal of Finance LXX(3), 1001–1037. https://doi.org/10.1111/jofi.12241.
Kurniawan, R., Mulawarman, A. D., & Kamayanti, A. (2014). Biological assets valuation reconstruction : A critical study of IAS 41 on agricultural accounting in Indonesian farmers. Procedia - Social and Behavioral Sciences, 164(August), 68–75. https://doi.org/10.1016/j.sbspro.2014.11.052.
Lee, C. M. C. (1999). Accounting-Based Valuation : Impact on Business Practices and Research, 13(4), 413–425.
Lewellen, J., & Nagen, S. (2006). The conditional CAPM does not explain asset-pricing anomalies, Journal of Financial Economics (82), 289–314. https://doi.org/10.1016/j.jfineco.2005.05.012.
LPPM UBB., & Bank Indonesia. (2015). Kajian Model Pembiayaan Komoditas Lada di Provinsi Kepulauan Bangka Belitung. LPPM UBB. Bangka Belitung.
Notaro, S., & Paletto, A. (2012). The economic valuation of natural hazards in mountain forests : An approach based on the replacement cost method. Journal of Forest Economics, 18(4), 318–328. https://doi.org/10.1016/j.jfe.2012.06.002.
Palepu, Krishna G., Healy, Paul M., & Peek, E. (2011). Business Analysis & Valuation IFRS Edition. 2nd Edition. Cengage Learning EMEA. London. United Kingdom.
Postali, F. A. S., & Picchetti, P. (2006). Geometric Brownian Motion and structural breaks in oil prices : A quantitative analysis, 28, 506–522. https://doi.org/10.1016/j.eneco.2006.02.011.
Reed, William J., and Clarke, Harry R. (1990). Harvest Decisions and Asset Valuation for Biological Resources Exhibiting Size-Dependent Stochastic Growth. Wiley for the Economics Department of the University of Pennsylvania and Institute of Social and Economic Research , Osaka University Stable URL : http://www.jstor.org/stable/2526634 Accessed : 13-04-2016 12 : 13.
Sedlacek, J. (2010). The Methods of Valuation in Agricultural. Agricultural Economic, 56 (2), 59–66.
Silva, R., Figueira, L., Pereira, L., & Ribeiro, M. (2012). Process of convergence to the International Financial Reporting Standards: An analysis of the disclosure requirements of CPC 29/IAS 41. http://dx.doi.org/10.2139/ssrn.2012705.
Yoshimoto, A. (2002). Stochastic Control Modeling for Forest Stand Management under Uncertain Price Dynamics through Geometric Brownian Motion. Journal of Forest Research 7 (2)