Discount rates based on CAPM don't always lead to minority value

Business Valuation UpdateVol. 7 No. 3
March 2001
Shannon P. Pratt, CFA, ARM, ABAR, FASA, MCBA, CM&AA
control premium


The following quote from the fourth edition of Valuing a Business , contained at page 161 in the chapter titled "The Income Approach: Discounted Future Income Method," apparently has been misconstrue ...