Emory responds to Dr. Bajaj: miniscule adjustments warranted

Business Valuation UpdateVol. 8 No. 5
May 2002
John D. Emory, Jr., CFA, JD/MBA
John D. Emory, Sr., ASA

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initial public offering (IPO), convertible preferred stock, real estate investment trusts (REIT)

Summary

In this article, John Emory and his colleagues address Dr. Bajaj's criticism of their pre-IPO discount for lack of marketability studies ( BVU , March 2002, pp. 12-14). The result is no adjustment to ...