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.
How flawed is the risk-free rate for current valuations?
When valuers are expected to supply a DCF analysis (an increasingly frequent need), most start with the risk assumption of a market premium compared to government bonds.
Global BVU News and Trends June 2020
Business valuation news from a global perspective.
EU risk-free rate declines, and the market risk premium increases to 9.0%
A special edition (fifth) of the “European Capital Market Study” from ValueTrust was released last week.
What risk-free rate should financial experts use now? New resources from Fernandez and BVR
‘This is a good time to revisit the implied ERP rather than the historical ERP,’ advises Dr. Michael A. Crain (Florida Atlantic University).
KPMG Germany offers updated cost of capital study—and database of IFRS impairment test WACC results
KPMG Germany collected WACC results from 312 companies in Germany, Austria, and Switzerland for its 14th edition of the ‘Cost of Capital Study,’ concluding that the average WACC across industries remains at 6.9%.
Global BV News: KPMG Germany releases 2019 cost of capital study
Subtitled “The Calm Before the Storm—Rising Profits and Deflated Values?” the 14th edition of the Cost of Capital Study from KPMG Germany examines, among other things, the impact of regulatory interventions, scarcity of resources as well as digitalization on business models, their performance (cash flows) and their risk (cost of capital) by industry sector.
Back to the Future? Exploding the Income Approach
Seeing the future? Compensating for excessive compensation? The feared levering and unlevering! What to do? Well don’t discount the advice of this expert panel as they work their way through the income approach from top to bottom. Join Bethany Hearn, Brenda Clarke, Kevin Yeanoplos, and Bob Dohmeyer in this entertaining and engaging web workshop. Half this event will focus on the numerator with a curated selection of hot issues such as forecasting, free cash flow ...
BVU News and Trends August 2019
monthly roundup of key developments of interest to business valuation experts.
New edition of Valuation and Common Sense by Fernandez
The 2019 edition of Valuation and Common Sense by Professor Pablo Fernandez (IESE Business School, University of Navarra) is now available—and it’s gratis.