Business Valuation Books and Publications
The following guides provide information on books and publications which focus on business valuation and related
topics. Publications are organized by subject matter, with publications covering a broad spectrum of valuation topics
included under the "General Valuation Publications" subject heading.
Select the appropriate subject heading from the list below:
For publications specific to an industry, see our index which lists
resource guides by SIC code for over 400 industries.
Valuing a Business: The Analysis and Appraisal
of Closely Held Companies, 5th Edition
Pratt, McGraw-Hill, 2008
Comprehensive guide provides in-depth discussion of topics such as appraisal approaches and methods, discounts
and premiums, writing and reviewing reports, and valuing specific securities and interests. Part VII focuses on
appraisals for specific purposes, with topics covered including estate and gift tax, buy-sell agreements, income
tax, ESOPs, ad valorem taxation, shareholder dissent and oppression actions, and marital
dissolutions. Detailed table of contents can be viewed free online.
Standards of Value: Theory and Application,
Fishman, Pratt, Morrison, Wiley, 2013
Text discusses the interaction between appraisal theory and its application for judicial and regulatory
purposes and provides guidance on how standards of value are interpreted and applied in different contexts: fair market
value for estate and gift taxes, fair value in shareholder dissent and oppression actions, standards of value
in divorce, standards of value for partnership and LLC buy-outs, and fair value for financial
reporting purposes. Detailed table of contents can be viewed free online.
PPC Guide to Business Valuations
Practitioners Publishing Company, annual updates
Three-volume publication provides a comprehensive guide to all aspects of the appraisal process, with appraisal
methods covered including the guideline company, capitalized and discounted returns, excess earnings, and underlying assets
methods. Volumes II and III include chapters addressing specific types of engagements such as estate and gift
tax, professional practice, divorce, shareholder dissent and oppression actions, and financial reporting.
Detailed table of contents can be viewed free online.
Business Valuation and Taxes: Procedure,
Law, and Perspective
Laro, Pratt, Wiley, 2nd edition, 2011
Comprehensive resource addresses the laws, approaches, and procedures relevant to business appraisals from a federal
tax standpoint for estate, gift, and income tax purposes, and covers a wide range of topics including appraisal
standards and methods, subsequent events, valuing minority and controlling interests in S corporations and other
pass-through tax entities, transfer pricing, custom valuation, personal versus enterprise goodwill, and shareholder
level discounts. Detailed table of contents can be viewed free online.
Cost of Capital: Applications and Examples,
Pratt, Grabowski, Wiley, 2014
Comprehensive text provides in-depth discussion and analysis of cost of capital theory and application and the cost
of capital models and data inputs used in implementing these models, with topics covered including the impact of
a changing economic environment on risk-free rates and equity risk premiums, additional evidence with regard to
size effect and premium, factors to consider in developing and measuring company-specific risk, and adjusting discount
and capitalization rates for different measures of economic income.
Business Valuation Discounts and Premiums,
Pratt, Wiley, 2009
Topics covered in this text include minority interest discounts and control premiums, lack of marketability discounts,
key person discounts and premiums, discounts for trapped-in capital gains taxes, portfolio discounts, discounts
for environmental, litigation, and other contingent liabilities, and various other discounts and premiums applicable
in performing a business appraisal, along with a discussion of common errors in applying discounts and premiums.
Detailed table of contents can be downloaded and viewed free online.
The Market Approach to Valuing Businesses, 2nd Edition
Pratt, Wiley, 2005
Publication provides a step-by-step guide to using both public and private market transaction data in valuing a
business interest, with topics covered including defining market multiples and the market approach method, finding
and analyzing comparative market transaction data, sample market approach cases, examples of applications of this
approach in court cases, and common errors in implementing the market approach. Table of contents, index, and searchable
text are available free online via Amazon.com's "Look Inside" feature.
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