Comment on COE data sources survey
In last week’s issue, we reported on a survey of the data sources analysts use to estimate the cost of equity (COE) (click here to see the news item).
Hitchner surveys COE data sources of choice
The Kroll (formerly Duff & Phelps) Navigator has been the consistent clear choice for cost of equity (COE) data by valuation analysts, according to ongoing surveys by Jim Hitchner (Valuation Products and Services).
BV News and Trends May 2022
A monthly roundup of key developments of interest to business valuation experts.
BV News and Trends April 2022
A monthly roundup of key developments of interest to business valuation experts.
Kroll increases U.S. normalized risk-free rate to 3.0%
Kroll has increased its recommended normalized risk-free rate to 3.0% from 2.5%, effective April 7.
Twitter poll on the size effect
Wes Gray, a Ph.D., financial analyst, and CEO of Alpha Architect, recently conducted a poll on Twitter about the size effect (implicit in traded stocks where returns can be observed).
BV News and Trends March 2022
A monthly roundup of key developments of interest to business valuation experts.
Damodaran updates his implied ERP in wake of Ukraine invasion
In his blog post on how the crisis in Ukraine is playing out in the markets, Professor Aswath Damodaran (New York University Stern School of Business) updated his implied equity risk premium to 4.73% as of March 16, up from 4.24% at the start of 2022.
Reminder: Feedback wanted on company-level beta module for the Navigator
Kroll (formerly Duff & Phelps) is developing a new module for its Cost of Capital Navigator that will enable users to derive company-level betas based on their own selection of comparable companies.
Year-end 2021 data now in the Cost of Capital Professional
Year-end 2021 data, including equity risk premia, CRSP decile size premia, and industry betas/IRPs, are now available in BVR’s Cost of Capital Professional platform.
Damodaran posts second data update, explains implied ERP
An extensive amount of free data on risk-free rates, equity risk premiums (ERPs), corporate default spreads, corporate tax rates, country risk premiums, and more can be found on the website of Professor Aswath Damodaran (New York University Stern School of Business), who generously posts updates each year.
Feedback wanted on company-level beta module for the Navigator
Kroll (formerly Duff & Phelps) is developing a new module for its Cost of Capital Navigator that will enable users to derive company-level betas based on their own selection of comparable companies.
Damodaran posts his data update for 2022
Each year, Professor Aswath Damodaran (New York University Stern School of Business) generously posts a great amount of data on his website that include risk-free rates, equity risk premiums (ERPs), corporate default spreads, corporate tax rates, country risk premiums, and other data—all of which are free.
Kroll reviews 2021 capital markets
“Capital Markets Insights—2021 Year in Review” offers a look at the past year in terms of notable S&P 500 performers, DJIA performers, M&A deals, PE deals, IPOs, SPACs, bankruptcies, cost of capital, and private markets.
Business Valuation Update Yearbook, 2022 Edition
January 2022 PDF (454 pages)
BVR (editor)
Business Valuation Resources, LLC
BV News and Trends October 2021
A monthly roundup of key developments of interest to business valuation experts.
BV News and Trends September 2021
A monthly roundup of key developments of interest to business valuation experts.
D&P/Kroll survey of cost of capital inputs
During a recent Duff & Phelps (a Kroll business) webinar, the audience was polled on various valuation and cost of capital topics.
Size effect is ‘fiction,’ Damodaran reiterates
“There has been no size premium for the past 40 years,” said Professor Aswath Damodaran (New York University Stern School of Business), who has been called the “Dean of Valuation.”
BVU News and Trends April 2021
A monthly roundup of key developments of interest to business valuation experts.
BVU News and Trends March 2021
A monthly roundup of key developments of interest to business valuation experts.
New paper on IBOR reform and valuation
For many years, interbank-offered rates (IBORs) have set the benchmark rate for lending on an unsecured basis.
BVU News and Trends February 2021
A monthly roundup of key developments of interest to business valuation experts.
Damodaran updates cost of capital data
Professor Aswath Damodaran (New York University Stern School of Business) has started his annual posting of data updates on his website that include risk-free rates, equity risk premiums, corporate default spreads, corporate tax rates, country risk premiums, and other data—all of which is free.
YE2020 data are now in the Cost of Capital Professional
Year-end 2020 data, including equity risk premia, CRSP decile size premia, and industry betas/IRPs, are now available in BVR’s Cost of Capital Professional platform.