Business Valuation Discounts and Premiums
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More About This Title Business Valuation Discounts and Premiums
English
SHANNON P. PRATT is a founder and Managing Director of Willamette Management Associates, one of the oldest and largest independent valuation consulting, economic analysis, and financial advisory services firms, with offices in cities across the United States.
English
List of Exhibits.
Foreword.
Preface.
Acknowledgments.
1. Overview of Business Valuation Discounts and Premiums and the Bases to Which They Are Applied.
2. Minority Discounts and Control Premiums.
3. Empirical Data Regarding Minority Discounts and Control Premiums.
4. Minority Discounts and Control Premiums in the Courts.
5. Discounts for Lack of Marketability for Minority Interests: Concept and Evidence.
6. Synopsis of Restricted Stock Studies.
7. John Emory Pre-Initial Public Offering Discount for Lack of Marketability Studies-Complete Underlying Data.
8. Factors Affecting Discounts for Lack of Marketability for Minority Interests.
9. Discounts for Lack of Marketability for Controlling Interests.
10. Quantitative Marketability Discount Model.
11. Marketability Discounts in the Courts.
12. Voting versus Nonvoting Stock.
13. Key Person Discounts.
14. Discounts for Trapped-In Capital Gains Taxes.
15. Blockage Discounts.
16. Nonhomogeneous Assets ("Portfolio") Discounts.
17. Discounts for Environmental, Litigation, and Other Contingent Liabilities.
18. Discount Adjustments for Limited Partnership Interests and Other Asset Management Entities.
19. Premium and Discount Issues in Undivided Interest Valuations.
20. Common Errors in Applying Discounts and Premiums.
Appendix A: Bibliography.
Appendix B: Data Resources.
Appendix C: Table of Cases.
Appendix D: How Much Can Marketability Affect Security Values?
Appendix E: Internal Revenue Service Revenue Ruling 77-287.
Appendix F: Securities and Exchange Commission Rules 144 and 144A.
CPE Self-Study Examination.
Index.
Foreword.
Preface.
Acknowledgments.
1. Overview of Business Valuation Discounts and Premiums and the Bases to Which They Are Applied.
2. Minority Discounts and Control Premiums.
3. Empirical Data Regarding Minority Discounts and Control Premiums.
4. Minority Discounts and Control Premiums in the Courts.
5. Discounts for Lack of Marketability for Minority Interests: Concept and Evidence.
6. Synopsis of Restricted Stock Studies.
7. John Emory Pre-Initial Public Offering Discount for Lack of Marketability Studies-Complete Underlying Data.
8. Factors Affecting Discounts for Lack of Marketability for Minority Interests.
9. Discounts for Lack of Marketability for Controlling Interests.
10. Quantitative Marketability Discount Model.
11. Marketability Discounts in the Courts.
12. Voting versus Nonvoting Stock.
13. Key Person Discounts.
14. Discounts for Trapped-In Capital Gains Taxes.
15. Blockage Discounts.
16. Nonhomogeneous Assets ("Portfolio") Discounts.
17. Discounts for Environmental, Litigation, and Other Contingent Liabilities.
18. Discount Adjustments for Limited Partnership Interests and Other Asset Management Entities.
19. Premium and Discount Issues in Undivided Interest Valuations.
20. Common Errors in Applying Discounts and Premiums.
Appendix A: Bibliography.
Appendix B: Data Resources.
Appendix C: Table of Cases.
Appendix D: How Much Can Marketability Affect Security Values?
Appendix E: Internal Revenue Service Revenue Ruling 77-287.
Appendix F: Securities and Exchange Commission Rules 144 and 144A.
CPE Self-Study Examination.
Index.
English
"This book contains chapters on other discounts the up until now we have only seen brief discussions on in the literature: Voting versus non-voting stock; key person discounts; discounts for trapped-in capital gains taxes; blockage discounts; non-homogenous assets (portfolio) discounts; and discounts for the environmental, litigation and other contingent liabilities. The final chapter entitled "Common Errors in Applying Discounts and Premiums" is a must for all of us when we perform a final review on our analysis and reports." --Linda B. Trugman (National Litigation Consultants Review, Dec 01)
