Principles of Private Firm Valuation (Wiley Finance)


Product Description
A complete explanation of the issues that determine private firm valuePrinciples 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.
Principles of Private Firm Valuation (Wiley Finance) Review
I read this for a CPE course. The author takes you through the world of valuing privately held firms. This includes; Cash flow methods, comparative equities, estimating cost of capital, debt ratios and their effects, S corps vs C corps, controlling ownership premium, reliability of records, taxes, etc. The book does more than just cover the mechanics, it makes informed judgements as to which methods of valuation are appropriate in which circumstances. Some factors are indicated as possibly increasing or decreasing a firm's value.Included are all the equations to support the text. The text is such that you can read right around most of the equations and not miss any of the principles.
I have done some valuations and I found this book to be very informative. There's more useful information here than in books many times as thick.
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