Trugman’s Approach to Assessing Company-Specific Risk
This is an excerpt from the new sixth edition of Understanding Business Valuation, which has a companion website that includes a good selection of full sample valuation reports and other supporting material.
BV News and Trends June 2022
A monthly roundup of key developments of interest to business valuation experts.
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.
BV Year in Review 2021: End of an Era
A recap of significant new ideas and developments as reported in over 70 articles and hundreds of news items in the pages of Business Valuation Update during 2021.
BVLaw Review: The Top Valuation Cases of 2021
Here is our pick for the state and federal court decisions that enhanced our understanding of valuation issues as they arose in a litigation setting during 2021.
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.
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.
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.
Despite COVID-19 and Brexit, the UK minted six new unicorns in 2020
CBInsights has updated its 2020 summary, showing that 76 private startups achieved unicorn status (a unicorn is a private company that has a valuation of more than $1 billion) last year, including six from the UK.