Perception Grows of Bias in U.S. Valuation Experts
During a recent webinar out of Canada, a speaker observed that litigants are bringing in valuation experts from the U.S. because of a “creeping tendency toward bias.” In the U.S., some judges are citing studies they say confirm their feelings about bias in some valuation experts.
Popular Real Estate DLOC Database Is Not Going Away
Valuation analysts who use the Partnership Profiles real estate database for estimating a discount for lack of control for family limited partnerships have expressed concern about the future of the database. This is a letter from Bruce Johnson with some important news about the database and some recommendations for adjusting methodology.
Key Points From Hitchner’s Annual BV Update
A recap of Jim Hitchner’s look at the major issues in BV over the past year, including long-term growth rates, the three-stage DCF, normalizing the risk-free rate, cost of capital, plagiarism, lack of liquidity on a 100% interest, and more.
What to Glean From the IRS Hiring Binge for BV Experts
The IRS needs to hire 31 business valuation experts, and the job announcement provides an interesting perspective as to the valuation issues that are on the agency’s radar.
Mercer Extols the Virtues of Writing as a Valuation Career Builder
Chris Mercer (Mercer Capital) says writing was an important activity that contributed to his success, and he urges practitioners to do the same. He lays out his 12-step plan for a first-time writer (and BVR adds a few comments).
The BV Profession’s ‘Silver Tsunami’ Is More Like a Trickle
We keep hearing about the “silver tsunami” in the business valuation profession, meaning a huge wave of retirements as veteran practitioners ride off into the sunset. But it’s not happening quite yet, according to data from BVR’s benchmarking survey.
BV News and Trends April 2024
A monthly roundup of key developments of interest to business valuation experts.
Global BVU News and Trends April 2024
Business valuation news from a global perspective.
Tax Valuations Are the Main Profit Driver for BV Firms, Per BVR Survey
Valuations for income, estate, and gift tax purposes are the most profitable for business valuation firms, according to a BVR survey. These valuations leap-frogged over litigation services and valuations for transactions/M&A purposes, which topped the list in 2018.
Damodaran Looks at Intangibles—and Tosses Some Dynamite
It is always a pleasure to listen to Aswath Damodaran (Stern School of Business, New York University) talk about valuation. BVR invited him to do a webinar on intangibles, and he didn’t disappoint, giving his perspective and dropping a few bombshells in his inimitable style.
‘Landmark’ Update Released of the International Valuation Standards
Two years in the making, the International Valuation Standards Council (IVSC) has published a new edition of the International Valuation Standards (IVS), which are effective for valuations performed on or after Jan. 31, 2025. The new set of standards is available for download through IVS Online (subscription required for nonmembers).
Review of Surveys on Cost of Capital Data Sources and Inputs
The Kroll Cost of Capital Navigator continues to be widely used and accepted for estimating cost of equity (COE). But BVR’s Cost of Capital Professional has been gaining considerable steam since its launch in 2018, according to a BVR survey. Some other resources for estimating the cost of capital have also seen an uptick in usage.
More Perspectives From Young BV Practitioners
For the past few years, NACVA has been giving a forum to young business valuation professionals so they can give their perspectives on the profession and what keeps them interested and motivated. At the December NACVA Super Conference, a panel discussion continued this tradition.
Is Your Subject Business Still Feeling the Effects of COVID-19?
The pandemic is over, but the symptoms may linger for a long time. For valuation analysts, the concern is whether the businesses they are appraising will be impacted over the long term—an impact that could be positive or negative. An example is the limited-service restaurant business, such as fast-food, pizza, coffee shops, and the like.
Global BVU News and Trends March 2024
Business valuation news from a global perspective.
BV News and Trends March 2024
A monthly roundup of key developments of interest to business valuation experts.
COLI valuation case now on SCOTUS’ calendar
March 27 is the date the U.S. Supreme Court will hear arguments in the Connelly case, according to the court’s calendar.
Expert’s critique of opposing valuation gets excluded
In a Tennessee damages case, the defense engaged a valuation expert to do two things: (1) critique the valuation report of the opposing side; and (2) offer his own estimate of damages.
How BV firms are coping with remote workers
Early results from our latest “Two-Minute Practice Builder” survey reveal that the vast majority of BV firms are on a hybrid work arrangement, i.e., some staff in-office and some working remote.
Kroll examines the staffing industry
Here are a few insights on the North American staffing and human capital industry from Kroll.
A lot of musing going on
Some thought leaders in the business valuation profession are shaking things up with their musings.
New issue of ASA’s BV Review added to BVResearch Pro
Among many other resources, the BVResearch Pro platform contains the full archive of the Business Valuation Review going back to 1982.
Good deal of interest in new option-based DLOM calculator
We were happy to see the number of readers who were interested in trying out an online calculator for estimating a discount for lack of marketability (DLOM) we announced last issue.