The Market Approach Then and Now: What Appraisers Need to Know (PDF)

June 2013 978-1-62150-029-2 PDF (96 pages)

BVR (editor)

Business Valuation Resources, LLC

Although a generally accepted business valuation method, the market approach continues to inspire debate. Stay current with your knowledge of this controversial method with The Market Approach Then and Now:  What Appraisers Need to Know,  A BVR Special Report. Through practical guidance and articles from top valuation experts, learn new techniques to apply and work with transaction data, consider what you should take into account when valuing businesses in varying economic climates, and gain insight on the latest court views. This is a must-have for your business valuation library.
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Table of Contents:

  • Section I: The Market Approach and Recession
    • Avoid These Common Errors in the Application of the Market Approach
      By Alina V. Niculita, MBA, CFA, ASA
    • The Market Approach During Recessionary Times is a Harbinger of Risk
    • Beware of Distortions of Market Multiples During a Recession 
      By Alina Niculita, MBA, CFA, ASA
  • Section II: Applying and Working With the Data
    • The Comprehensive Adjusted Public Guideline Method: Making sense of public guideline valuation multiples
      By Don M. Drysdale, CPA/ABV, ASA
    • Techniques to Improve Your Comparable Transaction Analysis 
      By Brian Murray, CPA/ABV, CVA
    • Compare Apples to Apples: Investigating the Differences in Transactional Databases
      By C. Fred Hall III, MBA, CBA, AVA
    • How Regression Analysis Makes the Market Approach More Valuable
      By C. Fred Hall III, MBA, CBA, AVA
  • Section III: The Court and the Market Approach
    • Estate of Gallagher Questions the Applicability of the Market Approach
      By Z. Christopher Mercer, ASA, CFA, ABAR
    • Four Tax Court Cases Emphasize Points to Consider When Using the Market Approach
    • Lessons on Using the Guideline Public Company Method from the Delaware Court of Chancery
  • Appendix
  • Which Research Sources Do Business Appraisers Use?
  • The Search for Guidelines Companies
  • How to Use Transaction Data for Private Company Valuations: A Primer
  • 10 Ways to Save Time on GPCM Using PitchBook/BVR Tool