Expand the following panels for additional search options.

Conceptual Overview of the Integrated Theory

The integrated theory of business valuation provides a conceptual framework for disciplined analysis of valuation questions. Too often, valuation analysts are tempted to view individual components of a valuation assignment on a piecemeal basis. Adhering to the integrated theory helps valuation analysts develop base valuation conclusions, discounts, and premiums that are rooted in a shared perspective of the subject company and the subject ownership interest. This first webinar in the three-part series sets the stage ...

Shares and Assets Valuation Fiscal Forum requests agenda topics for February meeting

The next SAV Fiscal Forum will be held on Tuesday, 25 February 2020, commencing at 1 p.m.

IVS update includes guidance for complex capital structures

For the first time, the International Valuation Standards (IVS) include guidance for valuers whose engagements require that the entire enterprise value be allocated across various classes of economic or control rights.

Business Valuation OIV Journal Spring 2019

Business Valuation OIV Journal has been created by Organismo Italiano di Valutazione (OIV), the Italian Valuation Standard Setter, to provide a forum for discussion and to foster cultural progress in the field of business valuation. In this issue, articles include "Company Valuation as Result of Risk Analysis: Replication Approach as an Alternative to the CAPM"; "Residual Income Model and Abnormal Returns: A Comparison to Factor Styles and Sell-Side Analysts"; and "Critical Issues When Valuating Small Businesses".

Business Valuation OIV Journal Fall 2018

Business Valuation OIV Journal has been created by Organismo Italiano di Valutazione (OIV), the Italian Valuation Standard Setter, to provide a forum for discussion and to foster cultural progress in the field of business valuation. In this issue, articles include "Implied Cost of Capital: How to Calculate It and How to Use It"; "Solvency II Framework in Insurance Equity Valuation: Some Critical Issues"; and "Bank Valuation Using Multiples in U.S. and Europe: A Historical Perspective".

Delaware Chancery Relies on Deal Proposal Valuation in Adjudicating Buyout Dispute

In buyout dispute, court says parties’ letter of intent states buyout conditions; court relies on amount stated in plaintiff’s debt/equity deal proposal to value subject company, finding parties’ trial experts used methods (DCF and asset accumulation) not suited to valuing subject company.

Smith v. Promontory Financial Group, LLC

In buyout dispute, court says parties’ letter of intent states buyout conditions; court relies on amount stated in plaintiff’s debt/equity deal proposal to value subject company, finding parties’ trial experts used methods (DCF and asset accumulation) not suited to valuing subject company.

American Society of Appraisers Business Valuation Committee Special Topics Paper #5 Consideration of Stock-Based Compensation in the Valuation Process

Under FASB Accounting Standards Codification 718 (formerly FAS 123[R]), equity compensation granted to employees is valued at fair value at the time of the grant and then expensed. Valuation analysts routinely quantify the dilutive effect that stock-based compensation (SBC) has on entity equity value. This dilution can be attributed to SBC that was granted in periods prior to the valuation date and SBC that is expected to be granted in future periods. It is important ...

In re EM Lodgings, LLC

In granting creditor’s stay relief motion, court averages competing expert valuations and finds debtor has no equity in contested hotel; court says value gap is result of experts’ legitimate disagreements over hotel’s future performance as reflected in inputs for DCF-based analyses.

Court Accords Equal Weight to Competing DCF-Based Hotel Valuations

In granting creditor’s stay relief motion, court averages competing expert valuations and finds debtor has no equity in contested hotel; court says value gap is result of experts’ legitimate disagreements over hotel’s future performance as reflected in inputs for DCF-based analyses.

Claims Against Third-Party Appraisal Crumple Under ‘Palpable Error’ Standard

In buyout dispute, court rejects plaintiff’s request to set aside third-party appraisal performed pursuant to valuation agreement; court notes its limited role and high “palpable error” standard; alleged mistakes were not apparent on face of appraisal and there was no misconduct by appraiser.

Olli Salumeria Americana, LLC v. Vosmik

In buyout dispute, court rejects plaintiff’s request to set aside third-party appraisal performed pursuant to valuation agreement; court notes its limited role and high “palpable error” standard; alleged mistakes were not apparent on face of appraisal and there was no misconduct by appraiser.

Court Favors Lost Profits Over Lost Value Damages for Surviving Business

In business tort case, court says damages to compensate plaintiff for loss of goodwill should take the form of lost profits, not total loss of value damages, where defendant employees were not subject to noncompetes and plaintiff was not completely destro ...

Court Favors Lost Profits Over Lost Value Damages for Surviving Business

In business tort case, court says damages to compensate plaintiff for loss of goodwill should take the form of lost profits, not total loss of value damages, where defendant employees were not subject to noncompetes and plaintiff was not completely destro ...

Mifflinburg Telegraph, Inc. v. Criswell, Inc.

In business tort case, court says damages to compensate plaintiff for loss of goodwill should take the form of lost profits, not total loss of value damages, where defendant employees were not subject to noncompetes and plaintiff was not completely destro ...

In Big Buyout Ruling, Minnesota Court Rejects DLOM in Calculating Fair Value

In a forced buyout, court says experts were too partisan to their clients, compromising value analysis; court performs its own valuation using DCF to determine fair value of grocery business and rejects DLOM because no unfair transfer of wealth occurs.

In Big Buyout Ruling, Minnesota Court Rejects DLOM in Calculating Fair Value

In a forced buyout, court says experts were too partisan to their clients, compromising value analysis; court performs its own valuation using DCF to determine fair value of grocery business and rejects DLOM because no unfair transfer of wealth occurs.

Lund v. Lund (I)

In a forced buyout, court says experts were too partisan to their clients, compromising value analysis; court performs its own valuation using DCF to determine fair value of grocery business and rejects DLOM because no unfair transfer of wealth occurs.

Return on Equity Analysis Undergirds Reasonable Compensation Claim

Tax Court says compensation paid to company owners for managing entity’s daily operations was reasonable; officers were “absolutely integral” to company’s success and company’s rate of return on equity after compensation accorded with industry average.

H.W. Johnson v. Commissioner

Tax Court says compensation paid to company owners for managing entity’s daily operations was reasonable; officers were “absolutely integral” to company’s success and company’s rate of return on equity after compensation accorded with industry average.

Expert’s Solid DCF and Industry Research Sway Court

Court discredits respondent expert’s capitalization of earnings calculation and market-based analysis, noting “severe deficiencies” and instead adopts petitioner expert’s valuation but applies DLOM to entire equity value, not just goodwill.

Wright v. Irish (Hudson Valley Clean Energy, Inc.)

Court discredits respondent expert’s capitalization of earnings calculation and market-based analysis, noting “severe deficiencies” and instead adopts petitioner expert’s valuation but applies DLOM to entire equity value, not just goodwill.

22 results