Principles of Private Firm Valuation

by Feldman, Stanley J.

• ISBN13: 9780471487210
• ISBN10: 047148721X
• Edition: 1st
• Format: Hardcover
• Copyright: 2005-04-06
• Publisher: WILEY

Summary

A complete explanation of the issues that determine private firm value Principles of Private Firm Valuation combines recent academic research and practical real-world experience to help readers better understand the multitude of factors that determine private firm value. For the financial professional serving private firms-who are increasingly being called upon to give advice on issues related to firm valuation and deal structure-this comprehensive guide discusses critical topics, including how firms create value and how to measure it, valuing control, determining the size of the marketability discount, creating transparency and the implications for value, the value of tax pass-through entities versus a C corporation, determining transaction value, and the valuation implications of FASB 141 (purchase price accounting) and 142 (goodwill impairment). Dr. Stanley J. Feldman (Lowell, MA) is Associate Professor of Finance at Bentley College, where he currently teaches courses in corporate finance with a focus on business valuation and business strategy at both the graduate and undergraduate levels. He is a member of the FASB Valuation Resource Group and is Chairman and cofounder of Axiom Valuation Solutions.

Author Biography

Stanley J. Feldman is Associate Professor of Finance at Bentley College, where he currently teaches graduate and undergraduate courses in corporate finance with a focus on business valuation and business strategy. He is a member of the FASB Valuation Resource Group and is Chairman and cofounder of Axiom Valuation Solutions. Dr. Feldman has written extensively on issues related to business valuation and small business financing for the Boston Herald and the Boston Business Journal, and lectures at both academic and professional conferences. He received his PhD from New York University.

Table of Contents

Preface.                       

Chapter 1. The Value of Fair Market Value.                   

Chapter 2. Creating and Measuring the Value of Private Firms.

Chapter 3. The Restructuring of Frier  Manufacturing.

Chapter 4. Valuation Models and Metrics: Discounted Free Cash Flow  and the Method of Multiples.

Chapter 5. Estimating the Cost of Capital.

Chapter 6. The Value of Liquidity: Estimating the Size of the Liquidity Discount.

Chapter 7. Estimating the Value of Control.

Chapter 8. Taxes and Firm Value.

Chapter 9. Valuation and Financial Reports: The Case of Measuring Goodwill Impairment.

Endnotes.

Index.