The influence of inefficiency of property market on the accuracy of description of property value using linear models of multiple regression

Szacowanie rynkowej wartości nieruchomości opiera się w głównej mierze na cenach transakcyjnych, które powinny w pełni odzwierciedlać charakterystyczne ich cechy. Rynek nieruchomości ze względu na swoją specyfikę jest jednak rynkiem nieefektywnym, na którym ceny transakcyjne w różnym (i nieznanym) stopniu są estymatorami wartości nieruchomości. Zakres referatu, w oparciu o eksperyment statystyczny, obejmuje analizę porównawczą pomiędzy efektami procesu wyceny zrealizowanego w warunkach rynku efektywnego i w warunkach rynku (w różnym stopniu) nieefektywnego.The evaluation of the market value of the property is mainly based on transaction prices which should reflect its characteristic features. In the case of an efficient market, the property price reflects its true value. However, it is more often the case to deal with an inefficient market (within different scope and to a different degree) during the evaluation procedure, which determines its accuracy. This paper contains an example of statistical analysis of a selected property base with the emphasis put on previously mentioned issues concerning the inefficiency of the market using reliability evaluation coefficient

The Impact Of Intangible Capital On Countries’ Sustainability During The Economical Recession

Intangible capital is an important and a form of capital recently much discussed in scientific literature. Even though the concept of intangible capital is not strictly set yet and vague enough, many authors agree that intangible capital is composed of intellectual capital, human capital and social capital. The creation of value in modern society is based on human skills, health, knowledge, intellectual property, enrolment in social units, networks, expressed social trust, etc. All these components are changing the economic structure influencing sustainable development of countries. However, the research suggests that intangible capital creation implies favorable conditions only during economic growth cycle. Intangible capital has poor resilience to economic recessions at macro-economic level