The Market Approach to Valuing Businesses / Edition 1by Shannon P. Pratt
Pub. Date: 11/03/2000
You could say that Shannon Pratt wrote the book on the market approach. Published in 2000, his book The Market Approach to Valuing Businesses set the standards and explained the theory and methodology for this evolving approach. Expanded and updated to encompass the latest rulings and source data, the new Second Edition is a reference for beginning and experienced… See more details below
You could say that Shannon Pratt wrote the book on the market approach. Published in 2000, his book The Market Approach to Valuing Businesses set the standards and explained the theory and methodology for this evolving approach. Expanded and updated to encompass the latest rulings and source data, the new Second Edition is a reference for beginning and experienced appraisers, intermediaries, buyers, sellers, attorneys, CPAs, or judges. The Market Approach to Valuing Businesses is an authoritative, state-of-the-art treatise for both valuation professionals and nonprofessionals.
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Table of ContentsTheory and Relevance of the Market Approach.
Defining Market Value Multiples.
The Guideline Public Company Method.
The Guideline Merger and Acquisition Method.
Other "Market" Methods.
Finding Public Company Market Transaction Data.
Finding Merger and Acquisition Transaction Data.
Financial Statement Analysis.
Comparative Financial Analysis.
Compiling Useful Market Value Tables.
Selecting and Weighting Market Value Multiples.
Control Premiums and Minority Discounts.
Discounts for Lack of Marketability.
Small Service Company Sample Case-Sub Shop.
Large Company Sample Case-Software Developer.
Reconciling Market Approach Values with Income and Asset Approach Values.
Does Size Matter? Evidence from Empirical Data.
Common Errors in Applying the Market Approach.
The Dismal Track Record of U.S. Market Acquisitions.
The Market Approach in the Courts.
CPE Credit Quiz.
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Like Pratt's Cost of Capital, The Market Approach to Valuing Businesses will serve as a valuable standard reference book for all business appraisers, from the beginner to the experienced. Finally, we have a clear, concise resource on a complicated topic that we can all benefit from.
The Market Approach to Valuing Businesses is the most comprehensive treatise on the subject ever -- complete methodology and latest comparative data sources for both control and minority interests. Includes many examples that focus on small and middle market companies and errors and examples of the courts' acceptance and objection of market approach evidence. Anyone appraising, buying, selling, or reviewing a market approach presentation will benefit from this book.
The Market Approach to Valuing Businesses delivers a long overdue resource to the business valuation profession. Both the seasoned veteran and those seeking to learn valuation fundamentals will gain significant value from this thoughtful and thorough presentation of the market approach. By providing easily readable and technically loaded narrative, helpful illustrations and instructive examples, and an extensive list of exhibits, Dr. Pratt equips the reader with a full set of market approach valuation tools.