Description
Book SynopsisPut the principles of the market approach to valuing businesses to work! This is an indispensable, hands-on workbook to help valuation experts (and those who want to be) better understand the application of methods used in the increasingly prevalent market approach to valuing businesses.
Table of ContentsPreface.
Section One: Questions.
1. Defining Market Multiples and Market Approach Methods.
2. The Guideline Public Company Method.
3. The Guideline Merged and Acquired Company Method.
4. Other Market Methods.
5. Finding Public Company Market Transaction Data.
6. Finding Merger and Acquisition Market Data.
7. Adjusting Financial Statements.
8. Comparative Financial Analysis.
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.
13. and 14 Sample Case Questions.
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.
Section Two: Answers.
1. Defining Market Multiples and Market Approach Methods.
2. The Guideline Public Company Method.
3. The Guideline Merged and Acquired Company Method.
4. Other Market Methods.
5. Finding Public Company Market Transaction Data.
6. Finding Merger and Acquisition Market Data.
7. Adjusting Financial Statements.
8. Comparative Financial Analysis.
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.
13. and 14 Sample Case Answers.
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.
