The Market Approach to Valuing Businesses
(Sprache: Englisch)
The Market Approach to Valuing Businesses, Second Edition offers comprehensive direction on the powerful method within the market approach. It includes updated and new data sources, as well as insightful analysis of court cases related to the market approach.
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The Market Approach to Valuing Businesses, Second Edition offers comprehensive direction on the powerful method within the market approach. It includes updated and new data sources, as well as insightful analysis of court cases related to the market approach.
Klappentext zu „The Market Approach to Valuing Businesses “
Your Best Approach to Determining ValueIf you're buying, selling, or valuing a business, how can you determine its true value? By basing it on present market conditions and sales of similar businesses. The market approach is the premier way to determine the value of a business or partnership. With convincing evidence of value for both buyers and sellers, it can end stalemates and get deals closed. Acclaimed for its empirical basis and objectivity, this approach is the model most favored by the IRS and the United States Tax Court-as long as it's properly implemented.
Shannon Pratt's The Market Approach to Valuing Businesses, Second Edition provides a wealth of proven guidelines and resources for effective market approach implementation. You'll find information on valuing and its applications, case studies on small and midsize businesses, and a detailed analysis of the latest market approach developments, as well as:
* A critique of US acquisitions over the last twenty-five years
* An analysis of the effect of size on value
* Common errors in applying the market approach
* Court reactions to the market approach and information to help you avoid being blindsided by a litigation opponent
Must reading for anyone who owns or holds a partial interest in a small or large business or a professional practice, as well as for CPAs consulting on valuations, appraisers, corporate development officers, intermediaries, and venture capitalists, The Market Approach to Valuing Businesses will show you how to successfully reach a fair agreement-one that will satisfy both buyers and sellers and stand up to scrutiny by courts and the IRS.
Inhaltsverzeichnis zu „The Market Approach to Valuing Businesses “
- List of Exhibits- Foreword
- Preface
- Acknowledgments
- Notation System Used in This Book
- Introduction
PART I: DEFINING MARKET MULTIPLES AND MARKET APPROACH METHODS
1. Defining Market Value Multiples
2. The Guideline Public Company Method
3. The Guideline Transaction (Merged and Acquired Company) Method
4.Other Market Methods
PART II: FINDING AND ANALYZING COMPARATIVE MARKET TRANSACTION DATA
5. Finding Public Company Market Transaction Data
6. Finding Merger amd Acquisition Market Data
7. Adjusting Financial Statements
8. Comparative Financial Analysis
PART III: COMPLILING MARKET VALUE TABLES AND REACHING A VALUE CONCLUSION
9. Compiling Useful Market Value Tables
10. Selecting, Weighting, and Adjusting Market Value Multiples
11. Control Premiums and Minority Discounts
12. Discounts for Lack of Marketability
PART IV: SAMPLE MARKET APPROACH CASES
13. Small-Size Service Company Sample Case-Sub Shop
14. Medium-Size Service Company Sample Case-Software Developer
PART V: IMPORTANT ASPECTS OF USING THE MARKET APPROACH
15. Reconciling Market Approach Values with Income and Asset Approach Values
16. Does Size Matter? Evidence from Empirical Data
17. Common Errors in Implementing the Market Approach
18. The Dismal Track Record of U.S. Market Acquisitions
19. The Market Approach in the Courts
- Appendix A: Bibliography
- Appendix B: Data Resources
- Appendix C: International Glossary of Business Valuation Terms
- Appendix D: The Quantitative Marketability Discount Model
- Appendix E: Pratt's Stats Data Contributors
- Index
Autoren-Porträt von Shannon P. Pratt
Shannon P. Pratt's reputation in the field of business valuation is legendary and unparalleled. As managing owner of Business Valuation Resources, LLC, he is the Editor in Chief of the monthly newsletter Shannon Pratt's Business Valuation Update(r). He oversees BVLibrary.comSM, Economic Outlook Update(r), Pratt's Stats, and BVMarketData.comsm, which includes BIZCOMPS(r), Mergerstat/Shannon Pratt's Control Premium Study, the FMV Restricted Stock Study, and the Valuation Advisors' Lack of Marketability Discount Study. He has authored several industry standard books, including Valuing a Business: The Analysis and Appraisal of Closely Held Companies; Valuing Small Business and Professional Practices; Cost of Capital: Estimation and Applications (Wiley); and Business Valuation Body of Knowledge (Wiley). Pratt formed Willamette Management Associates and is presently an independent consultant on business valuation.
Bibliographische Angaben
- Autor: Shannon P. Pratt
- 2005, 2. Aufl., 400 Seiten, Maße: 16,1 x 24 cm, Gebunden, Englisch
- Verlag: Wiley & Sons
- ISBN-10: 0471696544
- ISBN-13: 9780471696544
- Erscheinungsdatum: 10.11.2005
Sprache:
Englisch
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