NACVA to offer free BV training to judges
The CVA credential may get some burnishing in the eyes of judges under a new educational program.
Global BV News: Metaverse and ESG at CBV Congress June 8-9 in Toronto
A very interesting program is being offered at the CBV Congress 2023, hosted by the CBV Institute, Canada’s valuation professional organization (VPO) and standard-setter.
Multidisciplinary Blind Spots #5—Time
The single most important thing about valuing an interest in an asset holding company is time: How long will the interest-holder be stuck in its position? Of course, this is also a consideration for a nonmarketable position in any business. But with real estate holding companies in particular, the timing of an exit event is the single most important variable affecting value. It’s just not an easy story to write. This webinar will provide keys ...
Global BV News: CFA Institute issues Kroll’s global cost of capital 2022 summary edition
The CFA Institute Research Foundation has put out the “Valuation Handbook—International Guide to Cost of Capital 2022 Summary Edition” from Kroll.
Maher v. Cmejrek
The wife appealed the trial court’s decisions as to the values of the husband’s interests in his various medical practices and clinics and challenged the trial court’s determination of the husband’s income for support purposes. The appellate court affirmed the values of the medical practices and clinics and remanded the determination of income for support purposes for recalculation.
Indiana Appellate Court Affirms Valuation of Medical Practice Interests of Husband but Remands for Recalculation of Husband’s Income for Child Support
The wife appealed the trial court’s decisions as to the values of the husband’s interests in his various medical practices and clinics and challenged the trial court’s determination of the husband’s income for support purposes. The appellate court affirmed the values of the medical practices and clinics and remanded the determination of income for support purposes for recalculation.
Expert Survives Daubert—Allowed to Testify as to Lost Business Value
The case dealt with two motions to preclude testimony of an expert witness as to the loss in value of the plaintiff’s business. The plaintiff was an environmental consulting firm allegedly injured as a result of the actions of certain employees including breach of their fiduciary duty. The court concluded that the witness may testify because his report was based on sufficient facts and data and he applied reliable principles to the facts of this case.
White Buffalo Env’t, Inc. v. Hungry Horse, LLC
The case dealt with two motions to preclude testimony of an expert witness as to the loss in value of the plaintiff’s business. The plaintiff was an environmental consulting firm allegedly injured as a result of the actions of certain employees including breach of their fiduciary duty. The court concluded that the witness may testify because his report was based on sufficient facts and data and he applied reliable principles to the facts of this case.
Unlocking the Value of ESG: Report from the International Valuation Standard Council
This report provides an overview of the work carried out by the International Valuation Standard Council (IVSC) over the past two years in relation to unlocking the value of environmental, social, and governance (ESG) criteria within the valuation process, including a summary of the recently published IVSC ESG perspectives papers and internally generated intangibles. The report also illustrates some key findings from the IVSC ESG survey for firms, investors, and valuation providers and advises when ...
From the Chair
On September 10, 2022, in Tampa, Florida, the Business Valuation Committee convened during the 85th International Appraisers Conference.
Size effect is hibernating, per new paper
The size premium is more significantly related to monetary policy than to firm quality or to business cycle troughs, according to a new paper.
Tell job candidates a story
The search for BV talent has never been more challenging, so anything that can help land a good candidate is very welcome. In his latest newsletter, John Borrowman (Borrowman Baker LLC), a recruiter who has worked exclusively in the BV profession for over 20 years, advises interviewers to tell candidates a story about the kind of workplace they have.
Global BV News: IVSC and WIPO collaborate on IP and intangibles
The International Valuation Standards Council (IVSC) together with the World Intellectual Property Organization (WIPO) has signed a memorandum of understanding (MoU) with the goal of strengthening cooperation and collaboration on issues related to the valuation of intellectual property and other intangible assets.
Advanced Class on Monte Carlo Simulations
Participants will learn next-level skills in Monte Carlo simulations, such as: constructing confidence intervals, two or more random variables that are correlated, and using non-Excel software platforms (i.e., Python, Octave). Participants will also learn some VBA coding for running Monte Carlo simulations. The webinar will also present multiple Monte Carlo simulation examples, such as: contingent consideration with correlated variables, dealing with future dilutive financing rounds in an option pricing model/equity allocation framework, and option pricing ...
Web-based valuation platform gets financing boost
Valutico, an all-in-one web-based valuation platform, closed its first financing round with outside investors that, along with existing investors, totals in the mid 7-figures, the company announced.
NACVA’s Leadership Initiative Board starts up in June
The National Association of Certified Valuators and Analysts (NACVA) is assembling a new board, the Leadership Initiative Board (LIB).
Global BV News: Updated study of European capital markets released
The 11th edition of the “ValueTrust European Capital Market Study” provides an analysis of cost of capital parameters, returns (implied and historical) and trading multiples.
Bickering BV thought leaders: What to think?
How often do we hear well-known, veteran valuation experts “vehemently” disagreeing with each other over various issues?
Agenda set for NYSSCPA BV conference May 15
BVWire is starting to see plans coming together for this year’s conferences. The three major events (from the AICPA, ASA, and NACVA) are all later in the year, but some good events are blooming in the spring.
Global BV News: IVS exposure draft will address ESG
This April, the International Valuation Standards Council (IVSC) will publish an exposure draft outlining proposed updates to the International Valuation Standards (IVS). The draft will seek feedback on changes including new standards on “data and inputs” and explicit references to environmental, social, and governance (ESG) within the valuation process.
The Use of Monte Carlo in Valuation
Participants will understand the origins of Monte Carlo, as well as learn basic applications for use in the real world. The webinar will cover basic statistics and mathematics required to understand how Monte Carlo simulations are performed, including discussing the central limit theorem and the law of large numbers. The participant will learn how to model stochastic equity/asset processes for use in option pricing and contingent consideration valuations. The participant will learn basic Excel functions ...
New Research Strengthens Support for the Three-Stage DCF
Unpublished research from Roger Grabowski and Ashok Abbott reveals data on firm growth over three stages: startup, stabilizing, and long term.
The Valuation of Special Share Classes in the United Kingdom
A special analysis of a recent exposure draft concerning shares to employees in the United Kingdom (England and Wales, Scotland, and Northern Ireland ...
BV News and Trends February 2023
A monthly roundup of key developments of interest to business valuation experts.
Global BV News and Trends February 2023
Business valuation news from a global perspective.