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Program Description
This webinar will discuss the concept of the market participant as it relates to business valuation. It will demonstrate, using a large sample of transactions and several multiple regression models, that the market participant is related to the amount paid. It will show that, other things equal, public companies pay more than private buyers. This webinar will provide detailed information regarding the premium paid by public companies and relate this information to the private company discount and the discount for lack of marketability as well as how these results relate to the business valuation literature. This webinar also shows the importance of understanding the transactions data. In addition, it sheds additional light on whether S-corporations are priced differently than C-corporations.
Learning Objectives
After completing this webinar, attendees will be able to:
- Interpret the "market participant"
- Calculate private company discounts
- Recognize the importance of identifying the market participant
- Differentiate the tax implications in valuing S-corporations and C-corporations
- Identify the data sources used by valuation practitioners
Who Should Attend
Valuation practitioners, CPAs, attorneys
Presenter(s)
Dan McConaughy, ASA, PhD
Dr. Dan McConaughy is editor of Business Valuation Review, professor of finance at the David Nazarian College of Business and Economics at California State University Northridge, and is a director in valuation services at Crowe Horwath, LLP. He has published extensively in academic finance and practitioner valuation journals. He has presented at NACVA and ASA conferences as well as in webinars related to valuation.
Vincent Covrig, CFA, PhD
Dr. Vincent Covrig is a senior consultant in Crowe Horwath’s valuation services practice. His expertise is in modeling of fixed income securities, financial derivatives, compensation awards, enterprise valuation and allocation models, and contingent considerations. He is also a finance professor at California State University, Northridge, and has published more than a dozen papers in top academic and practitioner journals. He has presented at ASA and NACVA conferences.
CPE Credit |
Dan McConaughy, ASA, PhD
Vincent Covrig, CFA, PhD
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