In the September, 2013 issue of Business Valuation Update™, experts Robert Dohmeyer, Peter Butler, and Rod Burkert laid out a new approach to cost of capital estimation for private businesses whose revenues are less than $10 million. Their model, the Implied Private Company Pricing Line, seeks to eliminate "pitfalls for unsystematic risk, liquidity, small stock premium, PTE taxes, and cash/leverage by utilizing real transaction market-clearing prices between buyers and sellers of comparable small private businesses." In their webinar of the same name, Dohmeyer and Burkert present their model in an expanded, interactive format.
Program Agenda
Review flaws of current BUM/CAPM models for developing discount rates
Underlying theory and development of IPCPL
Practical example and illustration using IPCPL
Questions and answers
Learning Objectives
Learn how IPCPL seeks to resolve flaws of widely used cost of capital models
Learn the theoretical underpinnings of IPCPL and the source of its data
Learn the strengths and merits of IPCPL for private company valuation
Learn how to apply IPCPL in your practice
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