Ricerc@Sapienza

According to Italian legislation for a particular type of real property—lands/areas subject to buildability, but not yet currently buildable—there is a problem related to their “qualification”, or whether or not they must be considered buildable for the purposes of their recurrent taxation. These potentially buildable (POBU) areas, that were previously zoned as “agricultural”, have been rezoned as “general urban planning instruments/regulations” (the General Urban Development Plans or variances, which regulate land governance), whose approval path has yet to be concluded.

We propose an alternativefirm-level measure for innovation activities—R&D elasticity—and we analyse itseffects on the Tobin's Q of listed companies on the Euronext 100 Index. Wefind that R&D elasticity is positivelyrelated to market appreciation by stakeholder investors. Moreover, we analyse the role of default risk in therelationship between innovation activities and market value, andfind thatfirms' default probabilities are ne-gatively related to Tobin's Q.

In this paper a mass appraisal methodology for the periodic reviews of the market values of special properties that constitute the asset balance of relevant real estate portfolios has been developed. Using the information published by Italian databases, a study sample of office properties of medium and large size, located in the city of Milan (Italy) and sold in the last decade, has been obtained.

The aim of this research is to develop a method to support the definition of efficient and fair divisional projects in particularly complex cases concerning inheritance disputes. Firstly, the approach involves an appraisal of the market value of the assets, along with an analysis of the respective conditions of concrete divisibility; then, two mathematical models have been developed for the assignment of the assets to the subjects involved in the divisional projects.

Purpose: As regards the assessment of the market values of properties that compose real estate portfolios, the purpose of this paper is to propose and test an automated valuation model. In particular, the method defined allows for providing for objective, reliable and “quick” valuations of the assets in the phases of periodic reviews of the property values.

Purpose: In the present research an innovative methodology for the assessment of the mortgage lending value is proposed and tested. The method developed tries to improve and to rationalize, within the canonical and derivative approach that is generally used by the sector operators, the appraisal of the percentage reduction to be applied to the market value.

This research tries to investigate, in the current condition of the Italian real estate market, the economic advantage of investing in energy retrofitting of existing buildings or in expenditure aimed

The financial transmission of the USA's housing price bubble has highlighted the inadequacy of the valuation methods adopted by the credit institutions, due to their static nature and inability to understand complex socio-economic dynamics and their related effects on the real estate market. The present research deals with the current issue of using Automated Valuation

In the present research the financial convenience of refurbishment investments concerning
residential properties located in the Italian territory was analyzed. The study aimed at determining the
unit profit range for a potential investor deriving from the refurbishment of residential properties and
contextualizing the analysis to the Italian provincial capitals. With reference to the three macro-areas
that for geographic and socio-economic dierences define the Italian territory, namely the North,