Professional judgments in business valuation should be based on persuasive comparative data and conclusive empirical studies. However, these judgments are frequently made without these conditions, causing professional skepticism. An appraiser should explain in detail what was done to get the market value because valuation is the initial crucial step in the investment decision process. In socially responsible investment schemes, an appraiser has a fiduciary duty and a vital role in protecting the public from fraud and the risk of asset value destruction. Professional skepticism is essential to direct the appraiser’s judgment towards independent valuation for the public interest, assisting in evaluating the relevance and reliability of information, especially relating to social, environmental, and ethical issues. This paper studies the business valuation process from a behavioral finance perspective in the United States and Indonesia, aiming to tweak business valuation practices, identify biases, and mitigate them to ensure the market value does not shift far from fairness opinion. The case study explores experiences from the professional role-learning process. The results highlight the need for an appraisal protocol in business valuation, improvements in the discount for lack of marketability application, and these findings are pertinent to business appraisers and regulators. Recommendations include enhancing the clarity of professional judgments and the integration of recent empirical studies into practice.

Malaria is an infectious disease that poses a significant global health threat, particularly to children and pregnant women. Specifically, in 2020, Rampah Village, Kutambaru sub-district, Langkat Regency, North Sumatra Province, Indonesia, reported 22 malaria cases, accounting for 84% of the local cases. This study aims to develop a malaria prevention model by leveraging community capital in Rampah Village. A mixed-method sequential explanatory approach, combining quantitative and qualitative methods, was employed. Quantitative data were collected through questionnaires from a sample of 200 respondents and analyzed using structural equation modeling (SEM) with Smart PLS (Partial Least Squares) software. The qualitative component utilized a phenomenological design, gathering data through interviews. Quantitative findings indicate that natural capital significantly influences malaria prevention principles. There is also a positive and significant relationship between developmental capital and malaria prevention. Cultural capital shows a positive correlation with malaria prevention, as does social capital. The qualitative phase identified cultural capital within the Karo tribe, such as ‘Rakut si Telu,’ which signifies familial bonds fostering mutual aid and respect. The results of this study are crucial for formulating policies and redesigning community-capital-based malaria prevention programs. These programs can be effectively implemented through cross-sectoral collaboration among health departments, local government, and community members. Malaria is a communicable disease threatening global health, particularly affecting children and pregnant women. In 2020, there were 229 million cases of Malaria worldwide, resulting in 409,000 deaths. In Indonesia, specifically in North Sumatra’s Langkat Regency, Kutambaru District, Rampah Village had 22 cases (84%). The purpose of this research is to formulate a Malaria prevention model using community resources in Rampah Village, Kutambaru District, Langkat Regency. The study employed a mixed-methods sequential explanatory approach, combining quantitative and qualitative methods. Quantitative data was collected through questionnaires, with 200 respondents, and structural equation modeling (SEM) analysis using smart PLS (Partial Least Squares) software. Qualitative data was gathered through interviews. The research findings showed a positive relationship between cultural modalities and Malaria prevention (p = 0.000) with a path coefficient T-value of 12.500. The cultural modality and Malaria prevention relationship were significantly positive (p = 0.000) with a path coefficient T-value of 3.603. A positive and significant correlation also exists between development modalities and Malaria prevention (p = 0.011) with a path coefficient T-value of 2.555. Qualitative research revealed the Rakut si Telu cultural modality of the Karo tribe, meaning that family-based social connections create a sense of helping and respecting one another. The Orat si Waluh cultural modality represents daily life practices in the Karo tribe as a form of community-based Malaria prevention.