International Journal of Entrepreneurial Knowledge

Lubos Smrcka ¹, Eva Kislingerova ¹, Jiri Strouhal ¹, Klara Kubickova ², Marketa Kubickova ²

Affiliations
1 University of Economics Prague, Department of Business Economics, W. Churchill Square 4, 130 67 Prague 3, CZ
2 University of Economics Prague, CZ

Abstract

Valuation of cultural assets represents a very actual topic not widely discussed within contemporary accounting and financial research. Main motivation of this paper is therefore to provide an empirical evidence of the methods for valuation of cultural and artistic goods. In general, any method for valuating cultural and artistic goods or institutions cannot bring results as objective as those available to valuate assets in the real market economy. Within this paper we did focused on valuation on a specific case of cultural institutions (theatre, museum) and also we aimed to analyse the economic impacts of cultural organizations.

Keywords

Cultural Goods, Creative Industry, Valuation Methods, Economic Consequences, State Grant Policy, Czech Republic.

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