内容简介
Essentialreadingfortheseriousbusinessappraiser,QuantitativeBusinessValuation,SecondEditionisthedefinitiveguidetoquantitativemeasurementsinthevaluationprocess.Nootherbookwrittenonbusinessvaluationisaswellresearched,innovative,andbottom-linebeneficialtoyouasapractitioner.WrittenbyleadingvaluationandlitigationeconomistJayB.Abrams,thistextisarigorousandeye-openingtreatmentfilledwithapplicationsforawidevarietyofscenariosinthevaluationofyourprivatelyheldbusiness.Substantiallyrevisedforgreaterclarityandlogicalflow,theSecondEditionincludesnewcoverageof:ConvertingforecastnetincometoforecastcashflowDamagesinmanufacturingfirmsRegressingscaledy-variablesasawaytocontrolforheteroscedasticityMathematicalderivationofthePrice-to-Sales(PS)ratioMonteCarloSimulation(MCS)andRealOptions(RO)AnalysisVenturecapitalandangelinvestorratesofreturnLostinventoryandlostprofitsdamageformulasinlitigationOrganizedintosevensections,thefirstthreepartsofthisbookfollowthechronologicalsequenceofperformingadiscountedcashflow.Thefourthpartputsitalltogether,coveringempiricaltestingofAbrams'valuationtheoryandmeasuringvaluationuncertaintyanderror.Partsfivetosevenrounditalloutwithdiscussionoflitigation,valuingESOPsandpartnershipbuyouts,andprobabilisticmethodsincludingvaluingstart-ups.Theresultingwork,solidlygroundedineconomictheoryandincludingallnecessarymathematics,integratesexistingscienceintothevaluationprofession—anddevelopsvaluationformulasandmodelsthatyouwillfindusefulonadailybasis.