LEAPS put option discounts offer guideline, but not final word, on minimum DLOM
“Minimum Marketability Discounts”- 2nd Edition, Ronald M. Seaman, Business Valuation Review, June 2005, pp. 58-59.
IPOs do not generally create liquidity opportunity—DLOM still valid for controlling interests
This study compares the number of companies that filed an IPO registration with the SEC to the number of companies that successfully completed their IPO.
How much less is a minority share worth now?
HMRC changes have increased the difficulty of providing support for rates of return for illiquid and difficult-to-market minority shares.
An analysis of restricted stock studies
Marketability Discounts – A Comprehensive Analysis , Darrell D. Dorrell , The Valuation Examiner , March/April 2002, pp. 23-31. Restricted stocks are stocks for which a public market will be availab ...
Deal and Market Data Summary
Free Downloads
A summary of the types of companies, number of deals, SIC and NAICS codes, etc. available in each of BVR's guideline transaction platforms and databases.
Look before you LEAP into marketability discounts
We just wanted to call your attention to our next webinar LEAPS and the DLOM, on July 12.
Preview: Business Valuation Update Yearbook 2024
The year 2023 was defined by unexpected economic events, new valuation conferences, and more. To kick off a new year, BVR has just released the Business Valuation Update Yearbook, 2024 edition, with 404 pages of the biggest events in valuation from the last year.
BVR’s best-in-market valuation databases continue to grow
The BIZCOMPS® database has been updated with $137 million worth of new sold businesses-about 350 new transactions.
Updates to BVMarketData
Subscribers will enjoy new improvements at BVMarketData ...
Stout Restricted Stock Study Product Spec Sheet
Spec Sheets
$829/USD 1-year $285/USD Single Use Stout Restricted Stock Study Benefits of the Stout Study Rely on first-hand, empirical data that’s updated quarterly and rigorously screened and includes only arms-length deals Current empirical data to determine a discount for lack of marketability using restricted stock Data contains 60 verifiable data fields for thorough analysis Subscription includes access to the Stout DLOM Calculator which assists you in deriving a DLOM for your subject company, and then produces a detailed exhibit you can use in your report. Calculator automates quintile sort, makes market volatility ...
Valuation Advisors’ DLOM Study
Teleconference Presentation & Transcript August 23, 2007 Panelist: Brian Pearson, Valuation Advisors, LLC Moderator: Lucretia Lyons, Business Valuation Resources, LLC ...
DLOM Major Issue; Tax Court 'Splits the Baby'
At decedent’s death, she owned 3,276 shares of Royal Bancshares Inc. (RBI), or 5.09% of the outstanding RBI shares.
FMV DLOM Calculator has a new ‘filtering’ functionality—and a new, free companion guide
We’ve just updated The FMV Restricted Stock Study and with it the FMV Opinions DLOM Calculator.
FMV introduces detailed Restricted Stock Study
Discounts for lack of marketability are frequently the largest money issue in disputed valuation cases. The FMV study has researched the most data points for each transaction and thus can deliver the ...
COVID-19 may have increased minority shareholder discounts, 1Q2021 study suggests
The FTSE and other UK indices show that noncontrolling marketable interests in listed companies have increased during COVID-19 (despite the Boris discount and other factors).
Dr. Bajaj responds to Dr. Pratts February 2002 Editorial: Bajaj attacks restricted stock and pre-IPO discount studies; Pratt replies, defending studies, notes that debate may be semantic
In the last issue, Dr. Shannon Pratt critiqued my co-authored paper, Firm Value and Marketability Discounts, forthcoming in Journal of Corporation Law . 1, 2 I would like to take this op ...
Limited Partnership study documents large discounts from net asset value
Good guideline-company market data is the key to documenting discounts from net asset value for valuations of interests in holding companies, especially family limited partnerships. The data developed by Partnership Profiles’ editor Spencer Jefferies come as close as anything currently available to filling this need for the business appraiser. This article summarizes the latest findings and describes the scope and cost of the underlying data now available. -SP Partnership Spectrum’s 1996 study of 1,970 transactions ...
60% DLOM or more? Look at Valuation Advisors’ new long pre-IPO timeframe data
Last Monday Valuation Advisors released a major additional dataset for transactions where the pre-IPO timeframe is two years or longer.
Discount for Lack of Marketability Guide and Toolkit
May 2017 PDF
James Hitchner, Jim Alerding, Josh Angell, Kate Morris
Valuation Products & Services
Yes, restricted stock studies do matter after 1990
I read the May 2000 edition of Business Valuation Update with interest. I was specifically attracted to the guest article that discussed restricted stock discount studies.
Discounts for Lack of Marketability: Answering Your Latest Questions
BVResources’ recent telephone conference on discounts for lack of marketability (DLOM) inspired several questions that the panelists couldn’t get to during the allotted time.
Tax Court Applies Rigorous Scrutiny to Valuation Discount Studies
The recent Tax Court decision of Charles T. McCord Jr. and Mary S. McCord v. Commissioner, 120 T.C. 13 (May 14, 2003) dealt with a number of issues, including: 1. the extent of the ownership rights transferred (limited partnership interest versus as ...
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.
A Response to Dr. Shannon Pratt’s Critique of my Work on Marketability Discounts
As announced in the March 2002 issue of the Shannon Pratt's Business Valuation Update, readers of the newsletter as well as visitors to our site can read and download the full response by Dr. Mukesh Bajaj to Dr. Pratt's critique of his co-authored paper ...