Shannon Pratt's Valuing a Business - Preserving a Legacy
I am fortunate to have co-authored several books with Shannon. While I had gotten to know Shannon through conferences as well as through teaching valuation courses together, our collaboration began in August 2006 when Shannon asked me to co-author the Cost of Capital 3rd edition.
Two Methods to Adjust Observed Control Premia for Valuation Purposes
The greater a target company’s leverage, the less cash, or acquirer’s shares, a buyer needs to control the target enterprise. Based on this idea, the Appraisal Foundation Working Group’s Discussion Draft, The Measurement and Application of Market Participant Acquisition Premiums, recommends as a best practice that appraisers adjust takeover premia for leverage. Previous recent research found empirical results consistent with this, namely, that higher equity takeover premia are related to higher pre-deal leverage levels, controlling ...
How to use the Valuation Advisors database: A hypothetical example
By Brian K. Pearson * We at Business Valuation Resources are proud to be selected as the distributor for yet another valuable resource to help business appraisers in quantifying marke ...
Market data for M&A
How to Use Transactional Databases for M&A , Shannon P. Pratt, The Journal of Corporate Accounting & Finance , March/April 2002, pp. 71-79. In M&A, it is helpful to compare th ...
Valuation multiples and control premiums down in 4th quarter 2001
With five valuation multiples plus control premiums for almost 3,000 transactions spread over 16 quarters now in the Mergerstat/Shannon Pratt's Control Premium Study (CPS ), it becomes quite inter ...
2001 in review: BVU and J&L combine; active year in court
Databases proliferate; seven new BV books; market multiples drop As a result of subscribers' feedback from focus groups and reader surveys in 2001, we have decided to combine Judges & Lawyer ...
From experts in valuation in each of nine industry groups to a takeoff on Survivor, AICPA BV Conference offers variety
The 2001 AICPA Business Valuation Conference held at the Venetian in Las Vegas December 2-4 was attended by 840 people (by the way, the Venetian served the best conference food that I've ever experienced).
More evidence that small company stocks have additional risks
This column provides further evidence that the "size effect" is real. That is, smaller companies are , on average, riskier and therefore investors do require higher expected returns to invest in th ...
Control Premium Study shows decline in market multiples
Mergerstat/Shannon Pratt's Control Premium Study , published by Mergerstat, LP, 2001. Distributed by Business Valuation Resources, LLC, 7412 SW Beaverton-Hillsdale Hwy., Suite 106, Portland, OR ...
State of the art reference for all discounts and premiums issues
by Rand M. Curtiss, FIBA, MCBA, ASA, ASA, Loveman-Curtiss, Inc. Business Valuation Discounts and Premiums , Shannon P. Pratt, John Wiley & Sons, September 2001. Available from Business V ...
2001 ASA International Appraisal Conference, part 1
The American Society of Appraisers annual multidisciplinary conference was held in Pittsburgh, Pa., July 23-25. The theme of the conference was "Build New Bridges into the Millennium," given that this ...
www.BVMarketData.com sm expands
By Doug Twitchell * In addition to the newsletter you are now reading, Business Valuation Resources, LLC , also brings you several other business valuation-oriented products at www.BVMarket Dat ...