The Market Approach to Valuing Businesses Second Edition Set
by Pratt, Shannon P.Edition: 2nd
Format: Hardcover
Pub. Date: 2006-01-06
Publisher(s): Wiley
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Summary
While the number of companies has declined, the quantity and quality of detailed information available for the transaction method has increased dramatically. This book offers comprehensive direction on the powerful method within the market approach. It includes updated and new data sources. In the new edition, court cases regarding the market approach are presented and analyzed.The workbook to accompany The Market Approach to Valuing Businesses, Second Edition consists of questions and exercises, presented in the same order as the chapters in the book
Author Biography
Shannon P. Pratt, CFA, FASA, MCBA, CM&AA, is the Chairman and CEO of Shannon Pratt Valuations, Inc. a premier business valuation firm located in Portland Oregon, and is the founder and Editor Emeritus of Business Valuation Resources, LLC. Over a distinguished career of close to four decades, he has performed valuation engagements for M&A, ESOPs, gift and estate taxation, marital dissolution, shareholder oppression and dissent, and numerous other purposes. He has conducted numerous fairness and solvency opinions, has testified in a wide variety of federal and state courts across the country, and frequently participates in arbitration and mediation proceedings. Dr. Pratt is one of the most successful and respected authors in his field. He is the author or coauthor of several industry standards, including Valuing a Business: The Analysis and Appraisal of Closely Held Companies, Valuing Small Businesses and Professional Practices, The Market Approach to Valuing Businesses, Standards of Value, Business Valuation and Taxes, The Lawyer's Business Valuation Handbook, and Cost of Capital.
Table of Contents
| List of Exhibits | |
| Foreword | |
| Preface | |
| Acknowledgments | |
| Notation System Used in This Book | |
| Introduction | |
| Defining Market Multiples and Market Approach Methods | |
| Defining Market Value Multiples | |
| The Guideline Public Company Method | |
| The Guideline Transaction (Merged and Acquired Company) Method | |
| Other Market Methods | |
| Finding and Analyzing Comparative Market Transaction Data | |
| Finding Public Company Market Transaction Data | |
| Finding Merger amd Acquisition Market Data | |
| Adjusting Financial Statements | |
| Comparative Financial Analysis | |
| Compliling Market Value Tables and Reaching A Value Conclusion | |
| Compiling Useful Market Value Tables | |
| Selecting, Weighting, and Adjusting Market Value Multiples | |
| Control Premiums and Minority Discounts | |
| Discounts for Lack of Marketability | |
| Sample Market Approach Cases | |
| Small-Size Service Company Sample Case-Sub Shop | |
| Medium-Size Service Company Sample Case-Software Developer | |
| Important Aspects of using The Market Approach | |
| Reconciling Market Approach Values with Income and Asset Approach Values | |
| Does Size Matter? Evidence from Empirical Data | |
| Common Errors in Implementing the Market Approach | |
| The Dismal Track Record of U.S. Market Acquisitions | |
| The Market Approach in the Courts | |
| Bibliography | |
| Data Resources | |
| International Glossary of Business Valuation Terms | |
| The Quantitative Marketability Discount Model | |
| Pratt's Stats TM | |
| Data Contributors | |
| Index | |
| Table of Contents provided by Publisher. All Rights Reserved. |
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