Featuring (click image for more information):

James Harrington Duff & Phelps	Ted D. Israel CPA/ABV/CFF, CVA Eckhoff Accountancy Corporation

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Why You Should Attend:

As noted in the June 8 edition of BVWire™, recent work by Ted Israel and James Harrington have posited that the size premium is alive and well, and that some company-specific risk measures are being double counted as they are already embedded in the subject company's earnings stream. Says Israel: "we're spending too much time obsessing over the denominator [the discount rate] and ignoring the effects on the numerator [earnings]."

On August 25 BVR welcomes Harrington and Israel for examination of these and other issues pertaining to their research in "The Overlap of Company-Specific Risk and the Size Premium." This discussion on the overlap between company-specific risk, the size premium, and other cost of capital issues is not to be missed.

Click here for a free PDF of Ted Israel's article "The Generous Helping of Company-Specifc Risk That May Already Be Included in Your Size Premium."

Agenda

• Introduction
• Renewed look at the building blocks
• Company-Specific Risk and Size Risk Overlap
• Defining Company-Specific Risk
• Cost of Capital is a Function of the Investment
• How Different is the Subject Company?
• Conclusion
• Q&A

Learning Objectives

• Understand the make up of company-specific risk measures and their origins
• Understand what the size-effect represents and where it's present
• Learn how new research suggests the overlap of these two factors and what it means for your COC analysis
• Clarify how idiosyncrasies of target companies can complicate this analysis and how to overcome these challenges

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CPE Information

Prerequisites: Knowledge of Business Valuation
Program Level: Advanced
Preparation Required: None
Delivery Method: Group Internet-Based
Recommended CPE: 2 Credit Hours (Specialized Knowledge & Applications)

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