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Valuation of assets is a complex task involving many parameters that depend on many different factors with significant variations in results. In emerging markets valuation process gets even more challenging due to lack of reliable market data, the dynamic of the economic environment and the developmental level of local society. In this study the author will try to find interrelations between the driving forces behind value and set of factors that can be modelled and related to the local society. Based on the outcomes of the study, implications for markets will be discussed, giving us better understanding of relevant issues influencing cross-border investments.

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Aleksandar Kostadinov graduated from the University of Belgrade, Serbia in 2004. For the last 6 years Aleksandar has been working in the area of product management. In 2011 Aleksandar completed the MAS International Management programme at the University of Liechtenstein.

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