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Table Of Contents

Estimating comparable firm betas
Accounting Betas
Estimating a Beta for the NY Yankees
Estimating a beta for InfoSoft: A private software firm
Is beta a good measure of risk for a private firm?
Total Risk versus Market Risk
When would you use this total risk measure?
Estimating the Cost of Debt for a Private Firm
Estimation Options for Cost of Debt
Estimating a Cost of Debt for Yankees and InfoSoft
Estimating the Cost of Capital
Estimating Costs of Capital
Estimating Cash Flows for a Private Firm
Estimating Private Firm Cash Flows
The Yankee’s Revenues
The Yankee’s Expenses
Adjustments to Operating Income
InfoSoft’s Operating Income
Estimating Cash Flows for Yankees
From Cash Flows to Value
Valuing the Yankees
What if?
Valuation Motives and the Next Step in Private Company Valuation
Analyzing the Effect of Illiquidity on Value
Illiquidity Discounts and Type of Business
Empirical Evidence on Illiquidity Discounts: Restricted Stock
Cross Sectional Differences : Restricted Stock
Using the Study Results to Estimate Illiquidity Discounts
Liquidity Discount and Revenues
Losing or Making Money?
Estimating the IlIiquidity Discount for the Yankees
The Effects of Control
An Alternate Approach to the Illiquidity Discount: Bid Ask Spread
Valuing Initial Public Offerings
Voting and Non-Voting Shares
A General Framework for Valuing Control
Determinants of Probability of Control Changing
Determinants of Value of Control Changing
Empirical Studies on Voting versus Non-Voting Shares
A Test: Reader’s Digest
Valuing Estee Lauder
Estee Lauder: Comparables
Estee Lauder: PE ratio comparison
Estee Lauder: PE Ratio Analysis
Estee Lauder: PBV ratios of Comparable Firms
Estee Lauder: Analyzing PBV Ratio
Estee Lauder: PS Ratios of Comparable Firms
Estee Lauder: Analyzing PS Ratio
Estee Lauder: Summing up the Estimates
What would you do?
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value a private company

value a private company

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Published by Saad T. Khan

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Published by: Saad T. Khan on Feb 21, 2011
Copyright:Attribution Non-commercial


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