Latest issue of the ASA BVReview now in BVRPro
The BVResearch Pro platform contains the full archive of BVReview (going back to 1982!), the business valuation journal of the American Society of Appraisers.
BV News and Trends September 2021
A monthly roundup of key developments of interest to business valuation experts.
Red Flags Appear in BVR’s DLOM Survey Results
There are a number of areas of concern in the responses to BVR’s recent survey on methodology and practice for estimating a discount for lack of marketability (DLOM).
Did you ever value a bar or nightclub?
If so, then BVR wants to hear from you!
Damodaran’s strong feelings about ESG
A year ago, Professor Aswath Damodaran (New York University Stern School of Business) called it “the most overhyped, oversold concept in the history of business.”
Mercer chimes in on BVR DLOM survey
“Our profession has a long way to go in terms of understanding what DLOMs, or marketability discounts, really are,” concludes Chris Mercer (Mercer Capital) in his analysis of BVR’s 2021 DLOM survey.
Frazier reviews ‘very important’ book on business valuation
A very comprehensive review of an important book is in the Summer 2021 issue of the Business Valuation Review™, published by the American Society of Appraisers.
QMDM increases foothold in DLOM toolbox
Almost a quarter (22%) of valuation analysts polled say they use the quantitative marketability discount model (QMDM) for quantifying a discount for lack of marketability (DLOM).
Input Needed to Develop New Guidance on Company-Specific Risk
This is an update on new guidance being developed by The Appraisal Foundation’s Business Valuation Resources Panel’s Work Group on Company-Specific Risk Premia (CSRP). It needs input from practitioners on this topic.
BV News and Trends August 2021
A monthly roundup of key developments of interest to business valuation experts.
Surprising results in private cost of capital survey
Over half (58%) of privately held business owners believe their cost of equity is less than or equal to 12%, according to the “2021 Private Capital Markets Report” from Pepperdine University Graziadio School of Business and Management.
New paper on CEO tenure and firm value
If you’re valuing a business with a CEO who has been in that job for 20 years, is that a positive or a negative?
New Pepperdine report on private cost of capital released
The “2021 Private Capital Markets Report” is now available from the Pepperdine University Graziadio Business School.
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.
Ghaidarov Offers a New Framework for DLOM
Ghaidarov, who has published papers related to option price models for estimating a discount for lack of marketability (DLOM), presents a new concept for illiquidity discounts.
Reminder: Please take our DLOM survey
BVR is conducting a short survey that examines the methodologies and specific tools practitioners use to estimate DLOM.
CSRP working group needs input
The Appraisal Foundation’s Business Valuation Resources Panel’s Work Group on Company-Specific Risk Premia (CSRP) is seeking input via survey to understand how valuation practitioners address such premia within their valuations.
DLOM for a 100% interest in a private company?
One-third of valuation practitioners apply a discount for lack of marketability to a 100% interest in a private company, and 50% say “maybe,” reveals preliminary results of BVR’s DLOM survey.
BV News and Trends June 2021
A monthly roundup of key developments of interest to business valuation experts.
Global BV News and Trends June 2021
Business valuation news from a global perspective.
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.”
Reminder: Please take a survey about company-specific risk
BVWire is pleased to present a survey by The Appraisal Foundation’s Business Valuation Resources Panel’s Work Group on Company-Specific Risk Premia to understand how valuation practitioners address such premia within their valuations.
Reminder: Please take a survey about company-specific risk
BVWire is pleased to present a survey by The Appraisal Foundation’s Business Valuation Resources Panel’s Work Group on Company-Specific Risk Premia to understand how valuation practitioners address such premia within their valuations.
Please take a survey about company-specific risk
BVWire is pleased to present a survey by The Appraisal Foundation’s Business Valuation Resources Panel’s Work Group on Company-Specific Risk Premia to understand how valuation practitioners address such premia within their valuations.
Age- and gender-specific risk? A new paper says it exists
We’d like to be a fly on the wall the first time a valuation expert testifies that his or her company-specific risk factor was adjusted for the age and gender of the subject firm’s top managers.