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ESOP valuations not on safe ground—despite final DOL rules
Although ESOP valuation experts have been exempted from the DOL’s final fiduciary rules, it’s still not safe to go back into the water, experts say.
Call for data to test new average-strike put option DLOM model
John Finnerty (Alix Partners) has developed a new version of his average-strike put option DLOM model that can be generalized to accommodate a restriction period of any particular fixed length. He presented the new model during a BVR webinar and asked the audience for comments and suggestions. He would also like some real data for testing purposes.
Florida court explores scope of active/passive appreciation
A Florida appeals court examines the issue of whether the increased value of stock from a company for which the owning spouse works can be a marital asset and subject to distribution.
Industry-specific empirical support for passive appreciation
A survey is open for respondents to indicate which industries they would like to see analyzed for economic causal factors and their elasticities in order to better determine passive appreciation in business assets in a divorce context. The resulting analyses will be published.
BV profession needs "one clear voice" in New York DLOM matter
A prior post that highlighted the article “NY’s Unfair Application of Shareholder-Level Marketability Discounts,” written by Gil Matthews and Michelle Patterson (both with Sutter Securities) has sparked calls for the BV profession to speak with “one clear voice” on this issue.
Practice management tops list of BV practitioner concerns
Forty percent of respondents to a recent BVWire poll cite practice management as their biggest concern for 2016. This includes issues such as competition, fee pressures, hiring, succession planning, and the like.
Call for change in New York’s DLOM stance gains steam
A "new note" in the hotly debated NY DLOM issue was sounded in an article in the January issue of Business Valuation Update. In the article, “NY’s Unfair Application of Shareholder-Level Marketability Discounts,” Gil Matthews and Michelle Patterson (both with Sutter Securities) write that New York “stands alone in that it favors (and some lower courts believe requires) the imposition of a marketability discount on dissenting shareholders in fair value determinations. There is broad consensus that DLOMs should seldom, if ever, be permitted in appraisal or oppression cases.”
Trademark value snapshot of restaurant brands
Analysis of trademark valuation data for restaurant brands reveals that value multiples depend on the price positioning of a particular brand. Full service, sit-down restaurants generate a higher brand value premium than fast food restaurants.
Recent analyses examine extent of intangibles in PPAs
Intangible assets average 30% of the purchase consideration (PC) and goodwill averages 38% of the PC, according to the Houlihan Lokey 2014 Purchase Price Allocation Study. A different analysis of over 6,000 purchase price allocations finds that the ratio of intangible assets to total assets is 72%. This is according to the second edition of Benchmarking Identifiable Intangibles and Their Useful Lives in Business Combinations.
Coverage of the IACVA International Conference in Dubai
The International Association of Consultants, Valuators and Analysts (IACVA) and the Middle East Charter (together with Business Valuation Resources and the China Appraisal Society) held a busy conference at the Al Murooj Rotana hotel in beautiful Dubai on December 13 and 14, 2015. Valuation experts from around the globe discussed developments from their perspectives.
The best way for valuation firms to trigger more referrals
A new study suggests that a business valuation firm’s “visible expertise” is the most important single factor in generating referrals. Visible expertise is developed by conducting activities that promote thought leadership, such as speaking and writing frequently on topics of interest to your target audience.