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YE2018 data—plus enhancements—now in the Cost of Capital Professional

Year-end 2018 equity risk premia and size premia are now available in BVR’s Cost of Capital Professional platform.

Letter to the Editor: Comments on the Cost of Capital Professional

A user who tested out BVR’s new platform for estimating the cost of capital has some very thought-provoking comments on the use of historical data for the equity risk premium.

Response to Eric Nath’s Comments on the Cost of Capital Professional

Comments in response to the need to develop a “truly forward-looking required rate of return system that gives appraisers an understanding of how to estimate cost of capital for private companies and interests in private companies.”

Damodaran posts his 2019 data updates

Professor Aswath Damodaran (New York University Stern School of Business) has so far posted a series of five data updates on his blog, “Musings on Markets.”

Business Valuation Review spotlights the ‘size effect’

If you’re a subscriber to BVResearch Pro, you have access to a vast amount of research material, including the full archive of Business Valuation Review, the journal of the American Society of Appraisers (ASA).

Improving on historical data for the cost of capital

There are shortcomings to using historical data in developing an equity risk premium (ERP) when estimating the cost of capital, points out Eric Nath (Eric Nath & Associates LLC) in the February issue of Business Valuation Update.

BVR’s New Cost of Capital Platform Makes Its Public Debut

A record-setting audience of valuation experts got the first look at BVR’s new simple, independent service to estimate the cost of capital. The online platform is designed to augment each appraiser’s own professional judgment and his or her other research.

BVU News and Trends January 2019

A monthly roundup of key developments of interest to business valuation experts.

Fernandez on badly explained finance topics

A number of topics relevant to business valuers including CAPM, WACC, betas, ERP, and returns are in the latest paper by Pablo Fernandez (University of Navarra, IESE Business School), "18 Topics Badly Explained by Many Finance Professors."

Don’t be locked into a start year for historical returns

During a recent demo of BVR’s new Cost of Capital Professional, an audience member asked whether he could choose the starting year used to calculate the historical equity risk premium and historical size premium.

Free trial expires soon for new cost of capital platform

Have you had a chance to test drive BVR’s Cost of Capital Professional (CCPro)?

Bibliography explains basis for new cost of capital platform

The Cost of Capital Professional, BVR’s new platform for estimating the cost of capital, is rooted in solid theory and empirical data.

First public demo of BVR’s new cost of capital platform

Last week, valuation experts got the first walk-through of BVR’s Cost of Capital Professional, the newest resource for developing a cost of equity capital estimate.

New paper finds scant evidence of a size effect

“The bottom line is that after addressing the facts and fictions of the size effect, we find neither strong empirical evidence nor robust theoretical support for a prominent size premium.”

FAQs posted for new cost of capital platform

A set of FAQs for BVR’s Cost of Capital Professional (CCP) has been added to the webpage that explains the new independent service for estimating the cost of equity.

Board of advisors shapes up for BVR’s new cost of capital platform

Experts from the who’s who of the business valuation world have joined the advisory board for BVR’s Cost of Capital Professional (CCP), the new independent service for estimating the cost of equity.

BVR to Launch New Platform for Estimating the Cost of Capital

The time is right for a simple, independent service to augment each appraiser’s own professional judgment and his or her other research when estimating the cost of capital. A free trial period begins in November, and feedback is requested.

BVU News and Trends November 2018

A monthly roundup of key developments of interest to business valuation experts.

BVR christens new platform for estimating the cost of capital

The Cost of Capital Professional is the name chosen for BVR’s new, simple, independent service for estimating the cost of equity.

BVR to launch new platform for estimating the cost of capital

Business valuation experts will soon have an additional option for estimating the cost of equity.

The Absence of a Size Effect Relevant to the Cost of Equity

In this paper, I evaluate whether there is a size effect that is relevant to the cost of equity. I first analyze what model investors use to determine the required rate of return on their investment and find investors prefer the Capital Asset Pricing Model (CAPM) over other models, even those that include a size proxy. I also show that over the period 1981 to 2016, small stocks underperformed large stocks, which is inconsistent with ...

The effect of shareholder lawsuits on cost of equity

A firm may see adjustments to its cost of equity capital either at the time a shareholder lawsuit is filed or when the outcome of the lawsuit is determined—or both—says a new paper by William J. Moser (Miami University).

BVU News and Trends June 2018

A monthly roundup of key developments of interest to business valuation experts.

Global BVU News and Trends May 2018

Business valuation news from a global perspective.

BVU News and Trends May 2018

A monthly roundup of key developments of interest to business valuation experts.

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