Is closely held stock really ‘preferred’?
July 9, 2019
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
Optimizing Capital Structure and the Level of Debt Assumption
January 15, 2019
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