Using Closed-End Funds to Derive Discounts for Lack of Control

Business Valuation UpdateVol. 20 No. 1
January 2014
Ray K. Bratcher

Summary

Closed-end fund (CEF) data are commonly used to derive discounts for lack of control (DLOC) for closely held holding companies invested in marketable securities. CEFs are the most comparable public proxies to investment-holding companies because both have ...