VALUATION DISCOUNTS AND PREMIUMS
VALUATION DISCOUNTS AND PREMIUMS
VALUATION DISCOUNTS AND PREMIUMS
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Fundamentals, Techniques & Theory<strong>VALUATION</strong> <strong>DISCOUNTS</strong> <strong>AND</strong> <strong>PREMIUMS</strong>FOR EXAMPLE, HERE ARE THE NINE FACTORS CONSIDERED BY THE M<strong>AND</strong>ELBAUM COURTTO INCREASE OR DECREASE BENCHMARK DISCOUNT <strong>AND</strong> THE DIRECTION (INCREASE / DECREASE)APPLIED IN M<strong>AND</strong>ELBAUMAverage discount from RestrictedStock and Pre-IPO Studies35% 45%Financial StatementAnalysisDividendPolicyCompany History,Position andEconomic OutlookManagementControl Inherent inTransferred SharesTransferRestrictionsHoldingPeriodRedemptionPolicyPublic OfferingCostsFinal Discount© 1995–2012 by National Association of Certified Valuators and Analysts (NACVA). All rights reserved. Chapter Seven – 35Used by Institute of Business Appraisers with permission of NACVA for limited purpose of collaborative training. 2012.v1
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