Global BV News: VAB6 review on IVSC website
A comprehensive review of Valuing a Business, 6th edition (VAB6) is on the website of the International Valuation Standards Council (IVSC), calling it a “foundational reference for business valuation education worldwide.”
Global BV News: Cost of capital parameters in Europe as of Dec. 31, 2021
ValueTrust has released the 9th edition of its “European Capital Market Study” that serves as a comprehensive compilation of capital market parameters such as cost of capital and implied as well as historical risk premiums for European countries.
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.
Deloitte replaces pub on impairments and disposals
Deloitte has published A Roadmap to Impairments and Disposals of Long-Lived Assets and Discontinued Operations, which includes its insights into the guidance in ASC 360-101 and ASC 205-20 on impairments and disposals of long-lived assets and presentation of discontinued operations.
BVRPro adds to its ASA BV Review archive
Subscribers to the BVResearch Pro platform can access issues of Business Valuation Review going back to 1982, and the Fall 2021 issue has just been added to the archive.
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.
Reminder: Pepperdine’s private cost of capital survey
Many valuation experts refer to the annual “Pepperdine Private Capital Markets Report” when estimating small private-company cost of capital.
New Version of the NICE DLOM Method Now Freely Available
William Frazier (Weaver) has a new version of his nonmarketable investment company evaluation (NICE) method for estimating a discount for lack of marketability (DLOM). An Excel template for the revised version, aptly named NICE-R, is now available.
BV News and Trends February 2022
A monthly roundup of key developments of interest to business valuation experts.
Global BV News and Trends February 2022
Business valuation news from a global perspective.
The first thing to look at in a strip club
When valuing an adult entertainment venue or nightclub, one of the most important things to examine is the point-of-sale (POS) system.
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.
Reminder: Pepperdine’s private cost of capital survey is now open
Forty percent of valuation experts use the annual “Pepperdine Private Capital Markets Report” for estimating small private-company cost of capital, according to a BVWire poll.
BV News and Trends January 2021
A monthly roundup of key developments of interest to business valuation experts.
This year’s Pepperdine private cost of capital survey is now open
Forty percent of valuation experts use the annual “Pepperdine Private Capital Markets Report” for estimating small private-company cost of capital, according to a BVWire poll.
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.
Updated NICE DLOM model available for free download
During a recent BVR webinar, Will Frazier (Weaver) did a demo of the revised version of his nonmarketable investment company evaluation (NICE) method for estimating a discount for lack of marketability (DLOM).
Impairments triggered by climate change
For the first time in a securities filing, Exxon Mobil Corp said that some of its oil and gas properties may face impairment due to climate change, according to a report in Reuters.
Good News: Key Research on Private Cost of Capital Is Back
On the brink of ending its long run, the Private Capital Markets Project from Pepperdine University has secured funding to continue its ongoing survey of expected rates of return of providers in the private capital market.
Warning to Business Valuers Looking to Use New ESG Ratings
A hot topic today is environmental, social, and governance (ESG) factors and how to reflect the impact of these factors in business valuations and financial reporting. Data are starting to emerge to help quantify the impact of ESG—but analysts need to be careful in using these data.
BV News and Trends October 2021
A monthly roundup of key developments of interest to business valuation experts.