Here’s what you’ll see:
- “New Research Strengthens Support for the Three-Stage DCF” (BVR Editor). Unpublished research from Roger Grabowski and Ashok Abbott reveals data on firm growth over three stages: startup, stabilizing, and long term.
- “COE Estimates From Leading Data Sets Are All ‘Very Close’” (BVR Editor). Jim Hitchner conducted a hypothetical engagement using Kroll’s Navigator, BVR’s Cost of Capital Professional, the Pepperdine study, and Damodaran’s data to estimate cost of equity (COE).
- “The Walsh v. Preston ESOP Case—Is It a Victory or an Escape?” (Jim Alerding). Commentary from BVR’s legal editor on an important ESOP valuation case.
- “Tom West’s Legacy to Appraisers: The Business Reference Guide” (BVR Editor). BVR was very saddened to learn of the passing of Tom West, co-founder of the International Business Brokers Association and founder of the Business Brokerage Press. Business valuers have him to thank for the Business Reference Guide, which contains pricing rules of thumb for almost 700 types of businesses.
- “New ‘Court Cases Method’ for DLOM Points Up a Conundrum” (BVR Editor). A new study analyzes court cases to determine a more legally defensible discount for lack of marketability (DLOM). But should business valuers look to court cases for “good” valuations?
- “The Valuation of Special Share Classes in the United Kingdom” (Andrew Strickland). A special analysis of a recent exposure draft concerning shares to employees in the United Kingdom (England and Wales, Scotland, and Northern Ireland).
The issue also includes:
- A full 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,” “FactSet Mergerstat/BVR Control Premium Study,” “Economic Outlook for the Month,” and the “Cost of Capital Center”; and
- BVLaw Case Update: The latest court cases that involve business valuation issues.
To stay current on business valuation, check out the February 2023 issue of Business Valuation Update.
Please let us know if you have any comments about this article or enhancements you would like to see.