Discount for Lack of Marketability Guide and Toolkit PDF Download
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Author: James Hitchner
Publisher:
ISBN: 9780996886710
Category :
Languages : en
Pages :
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Book Description
Author: James Hitchner
Publisher:
ISBN: 9780996886710
Category :
Languages : en
Pages :
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Book Description
Author: John Stockdale, Sr.
Publisher: BVResources
ISBN: 9781621500254
Category :
Languages : en
Pages :
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Book Description
In the fifth edition of BVR's Guide to Discounts for Lack of Marketability, John Stockdale, Sr. offers the newest treatise on the theories, evidence, and techniques for determining discounts for lack of marketability (DLOM). DLOM is one of the most discussed topics in the business valuation profession with a historically wide divergence in how valuators approach it. This valuable, two-volume resource offers practical guidance for determining the DLOM and includes a compendium with analysis of over 100 of the most important cases that have made it into the courts. Case reviews shed light on how judges have viewed experts' use of the relevant facts and economic principles to determine a DLOM. Highlights of this new edition include: Insight into the IRS view on DLOM Expanded commentary on the liquidity premium Increased coverage of restricted stock studies, now including 32 studies Additional insight on the factors related to restricted stock discounts Expanded discussion of pre-IPO studies, and minority public stock evidence Additional studies on the matched pairs approach and discounts in private companies Expanded section on volatility models, including the Sigma-DLOM Curve Computational methods and models including the revised Finnerty and the Ghaidarov Average Strike Put Option Comprehensive and easy-to-read court case summary table
Author: Z. Christopher Mercer
Publisher: John Wiley & Sons
ISBN: 0470178663
Category : Business & Economics
Languages : en
Pages : 291
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Book Description
Praise for Business Valuation: An Integrated Theory, 2nd Edition "The Second Edition of Business Valuation: An Integrated Theory manages to present the theoretical analysis of valuation from the first edition and expand on that discussion by providing additional guidance on implementing the relevant valuation theories, notably in its expanded discussion of the Quantitative Marketability Discount Model." —Dr. David Tabak, NERA Economic Consulting Your Essential Valuations Reference Whether you are an accountant, auditor, financial planner, or attorney, Business Valuation: An Integrated Theory, 2nd Edition enables you to understand and correctly apply fundamental valuation concepts. Thoroughly revised and expanded, the Second Edition demystifies modern valuation theory, bringing together various valuation concepts to reveal a comprehensive picture of business valuation. With the implementation of new accounting pronouncements mandating the recognition of numerous assets and liabilities at fair value, it has become critical for CPAs charged with auditing financial statements to understand valuation concepts. With thoughtful and balanced treatment of both theory and application, this essential guide reveals: The "GRAPES of Value"-Growth, Risk and Reward, Alternative Investments, Present Value, Expectations, and Sanity The relationship between the Gordon Model and the discounted cash flow model of valuation The basis for commonly applied, but commonly misunderstood valuation premiums and discounts A practical perspective on the analysis of potential business acquisitions Grounded in the real world of market participants, Business Valuation, 2nd Edition addresses your need to understand business valuation, providing a means of articulating valuation concepts to help you negotiate value-enhancing transactions. If you want to get back to valuation basics, this useful reference will become your guide to defining the various levels of value and developing a better understanding of business appraisal reports.
Author: FACTSET MERGERSTAT.
Publisher: BVResources
ISBN: 9781621501954
Category :
Languages : en
Pages :
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Book Description
The FactSet Mergerstat Review is the cornerstone of any mergers and acquisitions library. This must-have resource delivers comprehensive rosters, data and statistics on merger and acquisition (M&A) transactions that involve U.S. companies, including privately held, publicly traded and cross-border transactions, and also lists unit divestitures, management buyouts, and certain asset sales.
Author: Shannon P. Pratt
Publisher: John Wiley & Sons
ISBN: 047037148X
Category : Business & Economics
Languages : en
Pages : 516
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Book Description
Business Valuation Discounts and Premiums SECOND EDITION Discounts and premiums do not just affect the value of a company; they play a crucial role in influencing a host of other factors and conditions that can make or break a deal. When it comes to business valuations, it's the business appraiser's responsibility to be intimately knowledgeable with every aspect of discounts and premiums: the different types, the situations when they may or may not apply, and how to quantify them. In this newly updated edition of Business Valuation: Discounts and Premiums, Shannon Pratt—one of the nation's most recognized and respected business valuation consultants—brings together the latest collective wisdom and knowledge about all major business discounts and premiums. Addressing the three basic approaches to conducting a valuation—the income approach, the market approach, and the asset approach—Shannon Pratt deftly and logically details the different discounts or premiums that may be applicable, depending on the basic valuation approach used, and how the valuation approaches used affect the level. Clearly written and thorough, Business Valuation: Discounts and Premiums, Second Edition provides business appraisers, accountants, attorneys, and business owners with an arsenal of information for their professional toolkit that can be applied to every major evaluation case they might face in any deal. This updated edition features timely, comprehensive coverage on: Strategic acquisitions Extensive empirical data Pre-IPO marketability discount studies Merger and acquisition negotiations, empirical evidence from completed transactions, and positions taken by courts in litigations Strategic acquisition premiums Studies on minority discounts Detailed, authoritative, and complete in its coverage, Business Valuation: Discounts and Premiums, Second Edition gets to the core of one of the more complex challenges faced by business appraisers, and arms readers with the understanding and techniques needed to successfully meet and exceed their job expectations.
Author: James R. Hitchner
Publisher: John Wiley & Sons
ISBN: 1119312310
Category : Business & Economics
Languages : en
Pages : 1301
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Book Description
A practically-focused resource for business valuation professionals Financial Valuation: Applications and Models provides authoritative reference and practical guidance on the appropriate, defensible way to prepare and present business valuations. With contributions by 30 top experts in the field, this new fourth edition provides an essential resource for those seeking the most up-to-date guidance, with a strong emphasis on applications and models. Coverage includes state-of-the-art methods for the valuation of closely-held businesses, nonpublic entities, intangible, and other assets, with comprehensive discussion on valuation theory, a consensus view on application, and the tools to make it happen. Packed with examples, checklists, and models to help you navigate your valuation project, this book also provides hundreds of expert "tips" and best practices in clear, easy-to-follow language. The companion website provides access to extensive appendix materials, and the perspectives of valuation thought-leaders add critical insight throughout each step of the process. Valuation is an important part of any organization's overall financial strategy, and seemingly-small inaccuracies or incomplete assessments can have big repercussions. This book walks you through the valuation process to give you the skills and understanding you need to get it done right. Learn best practices from 30 field-leading experts Follow clear examples for complex or unfamiliar scenarios Access practical tools that streamline the valuation process Understand valuation models and real-world applications The business valuation process can become very complex very quickly, and there's no substitute for clear guidance and a delineated framework in the run-up to completion. Get organized from the beginning, and be systematic and methodical every step of the way. Financial Valuation: Applications and Models is the all-encompassing, expert guide to business valuation projects.
Author: Everett Harry
Publisher:
ISBN: 9780996886741
Category :
Languages : en
Pages :
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Book Description
Author: Antonella Puca
Publisher: John Wiley & Sons
ISBN: 1119613639
Category : Business & Economics
Languages : en
Pages : 389
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Book Description
Addresses significant developments in the valuation of early stage enterprises at fair value with emphasis on practical applications—features a broad selection of case studies of early stage valuation Early Stage Valuation: A Fair Value Perspective provides a comprehensive review of the current methodologies used to value Early Stage Enterprises (ESEs) at fair value for financial reporting, investment, and mergers and acquisitions. Author Antonella Puca, Senior Director with Alvarez & Marsal Valuation Services in New York, provides accurate, up-to-date information on recent guidelines and new approaches for valuation assessments. This authoritative guide examines how to apply market analysis, discounted cash flows models, statistical techniques such as option pricing models (OPM) and Monte Carlo simulation, the venture capital method and non-GAAP metrics to ESE valuation. The text considers the most recent AICPA, Appraisal Foundation and IPEV guidance, and examines developments in both academic research and venture capital investor practice. Numerous real-world case studies illustrate early stage valuation suitable for structuring sound, internally consistent business transactions. Covering current trends and the latest regulatory guidance in the area, this book: Provides step-by-step guidance on practical valuation applications Reflects current standards for ESE valuation, including the AICPA Guide to the Valuation of Portfolio Company Investments, the IPEV guidelines and guidance from the Appraisal Foundation Covers new approaches to the valuation of ESEs with option pricing models, Monte Carlo Simulation, calibration and non-GAAP metrics Offers an overview of start-up valuation Discusses how intangible assets are impacting the valuation of ESEs The book also includes contributions from Neil Beaton, Andreas Dal Santo, Alexander Davie, John Jackman and Mark Zyla. Early Stage Valuation: A Fair Value Perspective is an essential resource for valuation specialists, private equity and venture capital fund managers, analysts, attorneys, investment bankers, regulators and auditors, and investors with interest in the private equity and venture capital industry.
Author: John J. Marty
Publisher: Birch Grove Publishing
ISBN: 9781945148026
Category : Health care reform
Languages : en
Pages : 852
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Book Description
This book is the most comprehensive publication ever written for business valuers who prepare appraisals for federal tax purposes. Parts One and Two discuss IRS structure, process and conflict resolution, and Parts Three to Five address the most common adjustment areas by the IRS.
Author: James R. Hitchner
Publisher: John Wiley & Sons
ISBN: 1119312337
Category : Business & Economics
Languages : en
Pages : 1293
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Book Description
A practically-focused resource for business valuation professionals Financial Valuation: Applications and Models provides authoritative reference and practical guidance on the appropriate, defensible way to prepare and present business valuations. With contributions by 30 top experts in the field, this new fourth edition provides an essential resource for those seeking the most up-to-date guidance, with a strong emphasis on applications and models. Coverage includes state-of-the-art methods for the valuation of closely-held businesses, nonpublic entities, intangible, and other assets, with comprehensive discussion on valuation theory, a consensus view on application, and the tools to make it happen. Packed with examples, checklists, and models to help you navigate your valuation project, this book also provides hundreds of expert "tips" and best practices in clear, easy-to-follow language. The companion website provides access to extensive appendix materials, and the perspectives of valuation thought-leaders add critical insight throughout each step of the process. Valuation is an important part of any organization's overall financial strategy, and seemingly-small inaccuracies or incomplete assessments can have big repercussions. This book walks you through the valuation process to give you the skills and understanding you need to get it done right. Learn best practices from 30 field-leading experts Follow clear examples for complex or unfamiliar scenarios Access practical tools that streamline the valuation process Understand valuation models and real-world applications The business valuation process can become very complex very quickly, and there's no substitute for clear guidance and a delineated framework in the run-up to completion. Get organized from the beginning, and be systematic and methodical every step of the way. Financial Valuation: Applications and Models is the all-encompassing, expert guide to business valuation projects.
