Principles of Private Firm Valuation phần 7 ppsx
Principles of Private Firm Valuation phần 1 doc
... a private firm s cost of capital. The purpose of valuing private firms varies. Although a valuation is generally required prior to a private firm being transacted, the majority of private firm ... Valuation is CPAs, valuation analysts, and CFOs of private firms. Many of the valuation issues these groups deal with are uniquely related to accurately measuring th...
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Principles of Private Firm Valuation phần 5 docx
... 3 0.86 259 54 4 1.1300 4 1.1900 4 $1,138, 054 ,57 6.81 4 1. 053 097 4 0.86 259 542 4 0.9083969 5 1.1600 5 1.2400 5 $711,964, 358 .60 5 1.068966 5 0.8 854 9618 5 0.94 656 49 6 1.1800 6 1.3000 6 $50 8, 957 ,368.04 ... 3317 .59 1206 Coefficients Standard Error t-Stat P-value Lower 95% Intercept −0.30 059 1 958 0. 156 793904 −1.9171 150 82 0. 055 6318 15 −0.60843667 Beta −0 .52 056...
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Principles of Private Firm Valuation phần 6 potx
... 55 Aa1/AA+ 7 .6 10 15 20 32 37 40 60 Aa2/AA 7.3 15 25 30 37 44 50 65 Aa3/AA− 7 203035455 460 70 A1/A+ 6. 85 30404 560 657085 A2/A 6. 65 40 50 57 67 75 82 89 A3/A− 6. 4 50 65 70 80 90 96 1 16 Baa1/BBB+ 6. 25 60 75 ... percent translates into a discount of 12.3 percent. This means that the pure liquid- 96 PRINCIPLES OF PRIVATE FIRM VALUATION TABLE 6. 1 Summary of...
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Principles of Private Firm Valuation phần 7 ppsx
... with using this mea- 106 PRINCIPLES OF PRIVATE FIRM VALUATION 12249_Feldman_4p_c 07. r.qxd 2/9/05 9:48 AM Page 106 112 PRINCIPLES OF PRIVATE FIRM VALUATION TABLE 7. 3 Target Characteristics Panel ... deter- 116 PRINCIPLES OF PRIVATE FIRM VALUATION 12249_Feldman_4p_c 07. r.qxd 2/9/05 9:48 AM Page 116 1 07 TABLE 7. 1 Takeovers Private Target Takeovers Public...
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Principles of Private Firm Valuation phần 8 docx
... 0 .86 088 897 0.02 18 1 0 .83 0.340 ANI 0.441 6 /8/ 98 60 0.0541 1 #DIV/0! #DIV/0! OHSL 0.469 8/ 3/99 60 15 15 0.16731963 0.052 1 1.40 0.093 UWR 0.637 8/ 23/99 60 21. 687 5 21. 687 5 0.15000739 0.052 1 1 .89 ... 0.0633 1 2.43 0.137 OK 0.346 11/20/00 60 0 .88 75 0 .88 75 0.6724 984 8 0.0609 1 0.25 0. 286 BKC 0.414 7/19/01 60 22.35 22.35 0.2726 488 0.0362 1 2 .80 0.125 NEWZ 1.0 18 8/7/01...
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Principles of Private Firm Valuation phần 9 ppt
... cost $90 0.00 $95 0.00 $1, 091 . 79 $90 0.00 $1,276 .92 $1, 091 . 79 Less tax benefits g $0.00 $162. 29 $ 191 . 79 $0.00 $231.60 $ 191 . 79 Net after-tax cost $90 0.00 $787.71 $90 0.00 $90 0.00 $1,045.32 $90 0.00 Acquirer ... $90 0.00 $90 0.00 Seller’s indifference price a $95 0.00 $1,276 .92 Acquirer’s indifference price b $1, 091 . 79 $1, 091 . 79 Target Corporation Taxable gain c...
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Principles of Private Firm Valuation phần 10 ppsx
... up an interesting problem. Consider again the example of Firm A, a private firm, acquiring Firm B, a public firm. When Firm B is part of Firm A, however, it is no longer a public company and ... community. Hence, this research offers an important source of knowledge about the impact of li- quidity, or lack thereof, on the prices of minority shares of quasi -private fi...
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Principles of Private Firm Valuation phần 1 pptx
... a private firm s cost of capital. The purpose of valuing private firms varies. Although a valuation is generally required prior to a private firm being transacted, the majority of private firm ... PRINCIPLES OF PRIVATE FIRM VALUATION 12 249_Feldman_4p_c 01. r.qxd 2/9/05 9:45 AM Page 4 v Preface vii CHAPTER 1 The Value of Fair Market Value 1 CHAPTER 2 Cre...
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Principles of Private Firm Valuation phần 6 ppsx
... 55 Aa1/AA+ 7 .6 10 15 20 32 37 40 60 Aa2/AA 7.3 15 25 30 37 44 50 65 Aa3/AA− 7 203035455 460 70 A1/A+ 6. 85 30404 560 657085 A2/A 6. 65 40 50 57 67 75 82 89 A3/A− 6. 4 50 65 70 80 90 96 1 16 Baa1/BBB+ 6. 25 60 75 ... percent translates into a discount of 12.3 percent. This means that the pure liquid- 96 PRINCIPLES OF PRIVATE FIRM VALUATION TABLE 6. 1 Summary of...
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Principles of Private Firm Valuation phần 7 pptx
... 0.0 37* (4.90) −1.445 † (−1.65) 0.029* (4.85) ECON 7. 131 (−1.1) 0.001 (0.13) −6.6 67 (−1. 07) 0.024 (0 .79 ) F-statistic 7. 53* 11.35* 6.85* 13 .71 1* Obs. 677 677 677 677 Adj. R 2 7. 15% 10.88% 6. 47% ... Value of Control 1 17 12249_Feldman_4p_c 07. r.qxd 2/9/05 9:48 AM Page 1 17 112 PRINCIPLES OF PRIVATE FIRM VALUATION TABLE 7. 3 Target Characteristics Panel A: Panel A p...
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