Tomorrow! BVR’s Cost of Capital Virtual Conference
Tune in tomorrow, January 16, for BVR’s live virtual conference devoted to the cost of capital.
Next week: BVR’s Cost of Capital Virtual Conference
Mark down January 16 on your calendar for BVR’s live virtual conference devoted to the cost of capital.
Valuation Report Excerpts Using Pepperdine to Estimate a Discount Rate
Sample language adapted from actual valuation reports using information from Pepperdine’s “2024 Private Capital Markets Report” to estimate cost of capital for a small business, including an adjustment for company-specific risk.
RESEARCH UPDATE: Monthly Recap of Research Papers July 2024
The featured paper is “Beyond Subjective Weights—Risk Aware Reporting of Valuation Results for a Privately Held Business” by Mikhail Munenzon (InteleK Business Valuation & Advisory). Other papers of interest to valuation experts cover topics including ERPs and risk-free rates, valuation of data assets, quantitative disclosures and risk, and the impact of founder-family succession on firm value.
Global BVU News and Trends July 2024
Business valuation news from a global perspective.
Global BVU News and Trends June 2024
Business valuation news from a global perspective.
BVU Cost of Capital Center adds more Pepperdine info
Starting with the August issue of Business Valuation Update, information on rates used in practice for company-specific risk, industry risk premia, and the size premium will be included in the monthly Cost of Capital Center.
New feature in Business Valuation Update spotlights research
To promote more of a connection between valuation practice and financial research, BVR’s monthly Business Valuation Update now includes a recap of research and scholarly papers that should be of interest to valuation experts.
Global BV News: KPMG provides global market data
The Q1 2024 International Valuation Newsletter from KPMG Switzerland includes some key financial market data.
Key Points From Hitchner’s Annual BV Update
A recap of Jim Hitchner’s look at the major issues in BV over the past year, including long-term growth rates, the three-stage DCF, normalizing the risk-free rate, cost of capital, plagiarism, lack of liquidity on a 100% interest, and more.
Global BVU News and Trends March 2024
Business valuation news from a global perspective.
Hitchner’s annual review of need-to-know BV topics
Over 500 attendees listened to Jim Hitchner (Valuation Products and Services) do his annual review of recent need-to-know concepts, data, models, and methods in business valuation. Here are a few key points from the two-hour webinar.
Today! Hitchner’s annual BV update webinar
BVWire looks forward to Jim Hitchner’s annual webinar where he reviews new concepts, data, models, and methods that have emerged in business valuation over the past year.
Practical Considerations in Normalizing the Risk-Free Rate
Some valuation firms and practitioners have advocated that the risk-free rate of return (Rf) should be normalized when it is believed to be too low because of Federal Reserve Bank policies. Recent arguments for doing so have been based on technical economic analyses but have ignored practical aspects of normalizing Rf. This article is intended to address those practical considerations.
Global BVU News and Trends August 2023
Business valuation news from a global perspective.
Global BV News: New edition of Valuation and Common Sense by Fernandez
The eighth edition of Valuation and Common Sense by Professor Pablo Fernandez (IESE Business School, University of Navarra) is now available—and it’s free if you click here.
Global BV News and Trends December 2022
Business valuation news from a global perspective.
Global BV News: All markets unstable, per KPMG valuation pros
The Q3 2022 International Valuation Newsletter from KPMG Switzerland includes articles on valuation in times of geopolitical tension, macroeconomic shifts, and microeconomic challenges.
Global BV News and Trends June 2022
Business valuation news from a global perspective.
Global BV News and Trends May 2022
Business valuation news from a global perspective.
Global BV News: Eurozone ERP, risk-free rates unchanged: Kroll
Kroll has left unchanged (until further notice) its recommended German normalized risk-free rate of 1.5% and its current eurozone equity risk premium range of 5.5% to 6.0% (from a German investor’s perspective).
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.
Global BV News and Trends August 2021
Business valuation news from a global perspective.
Global BV News: Global valuers challenged by lack of data
A lack of empirical data on small private companies outside the U.S. makes valuations challenging.