Chris Mercer

FEBRUARY 23, 2024

My conclusion is that the various restricted stock studies are inadequate to meet current business valuation standards and that they should not be used as a basis for “guessing” the magnitude of marketability discounts for illiquid interests of closely held businesses. ”: II. We will see.

Marketability 52

Marketability Terminal Value Dividends Discounted Cash Flow 52

Chris Mercer

MARCH 7, 2024

My current series of blog posts is titled “Mercer’s Musings.” Procedural Guidelines (PG) are designed to provide more detailed guidance for consideration by business appraisers than found in the base standards themselves. Items on the list may or may not be applicable in specific valuation situations.

Dividends 52

Dividends Appraisal Terminal Value Business Valuation 52

Chris Mercer

MARCH 8, 2023

” We look at this “discount” from the vantage points of the definition of fair market value, the integrated theory of business valuation, and recurring and incorrect rationales for the discount. This post is the first in a series of posts in which we will discuss fair market value in more detail.

Fair Market Value 52

Fair Market Value Marketability Appraisal Business Valuation 52

Chris Mercer

MARCH 29, 2024

Exhibit 8.21 (Mercer-Harms Business Valuation: An Integrated Theory Third Edition ) (“IT3”) illustrates how pre-IPO discounts are calculated. This study is introduced with the following: Defend your discounts for lack of marketability with the most current data in the Valuation Advisors Lack of Marketability Discount Study.

Marketability 52

Marketability Appraisal Business Valuation Dividends 52