第14章：调整中溢价与折价.pdfVIP

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CHAPTER14

PremiumsandDiscounts(Valuation

Adjustments)—PartI

CHAPTERGOALS

Inthischapter,Iwillattempttoexinthefollowing:

•Valuationpremiumsanddiscounts,ingeneral

Controlpremiums

•Lackofcontrol(minority)discounts

Discountsfromnetassetvalue

Discountsforembeddedcapitalgains

Nonvotingstockdiscount

INTRODUCTION

Thefinalvaluereachedintheappraisalofacloselyheldbusinessmaybemoreor