Here’s what you’ll see:

• “Two Articles Addressing Firm Quality and Its Impact on the Size Effect” (Roger J. Grabowski and Anas Aboulamer). The authors discuss two recent papers that present the concept of firms’ quality and show that it plays an important role in understanding the size effect. Also discussed are papers that present a differing view.
• “No End in Sight to Size Effect Debate” (Michael A. Crain). A look at several recent articles on the so-called size premium that perpetuate the debate on this topic. Some appraisers feel that the size effect has diminished or disappeared since it was first documented in 1981 while others feel it is alive and well.
• “Survey Uncovers the Most Effective Ways to Get More BV Business” (BVR Editor). Based on a BVR survey, a discussion of what techniques are best at bringing in valuation business and an identification of the most likely prospects.
• “Industry Snapshot: Automobile Dealers” (BVR Editor). An at-a-glance overview and update on current trends, value drivers, and valuation approaches in the complex world of automobile dealerships.
• “Appraiser Shuns Public Data for Private Cost of Capital” (BVR Editor). One appraiser has done hundreds of valuations of small owner-operated firms by looking to private capital markets to estimate cost of capital. This eliminates the need to make all of the many assumptions and adjustments to convert data from actively traded stocks into proxies for private-company valuation.
• “How Changes to Transfer Pricing Rules Impact Valuation Practitioners” (Kelvin King and Raymond Weisner). The authors discuss new rules in the transfer pricing landscape and a trend toward carving out the financial and economic study from the functional analysis.

The issue also includes:

• An expanded section of “BV News and Trends/Global BV News and Trends.”
• Regular features: “Ask the Experts” and “Tip of the Month.”
• BV data spotlight: “DealStats MVIC/EBITDA Trends,” “ktMINE Royalty Rate Data,” “Economic Outlook for the Month,” and “Cost of Capital Center.”
• BVLaw Case Update: The latest court cases that involve business valuation issues.

To stay current on business valuation, check out the May issue of Business Valuation Update.