Preferred stock is a hybrid security that shares some of the characteristics of both common stock and bonds. Like shares of common stock, preferred shares represent an ownership stake in a company for which its shareholders have a claim on its assets and earnings. However, while preferred shares are considered “equity,” they also have many

In many valuations, particularly those involving the valuation of a controlling interest, the appraiser will, in many cases, need to adjust to a hypothetical capital structure that is in line with what a hypothetical control-level buyer would expect to employ. The most conventional method for estimating this hypothetical capital structure is based on public company