The Transactional Asset Pricing Approach(TAPA): Incorporation of Leverage and Derivation of Extended Ellwood Formula with Fixed Leverage Benefits

Real Estate Management and Valuation

Michaletz Vladimir B.¹  Artemenkov Andrey I.² 

[1] RF Directorate of State Scientific Research Programs, Russia;The Westminster International University in Tashkent, WIUT, Uzbekistan, [e-mail];

关键词: ellwood formula;    transactional asset pricing approach (tapa);    leverage benefits;    property valuation;    the principle of transactional equity-in exchange;    d46;    g12;   

DOI  :  10.2478/remav-2021-0006

来源: DOAJ

【 摘 要 】

The Paper discusses the derivation of the Ellwood formula on the basis of the Transactional Asset Pricing approach to valuation (TAPA) and proceeding from the dynamic principle of transactional equity-in-exchange.

【 授权许可】

Unknown