Standards of value: theory and applications
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Hoboken, NJ
Wiley
2007
|
| Subjects: | |
| Online Access: | Table of contents only Inhaltsverzeichnis |
| Item Description: | Includes index |
| Physical Description: | XXI, 346 S. graph. Darst. |
| ISBN: | 9780471694830 0471694835 |
Staff View
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Record in the Search Index
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|---|---|
| adam_text | Contents
Acknowledgments xiii
Foreword xvii
Preface xix
Introduction: Standards of Value 1
1 Common Standards and Premises of Value 17
Common Standards and Premises 17
Price, Value, and Cost 18
Defining a Standard of Value 19
Premises of Value 20
Common Standards of Value 21
Fair Market Value 21
Fair Value 23
Investment Value 24
Intrinsic Value 25
Book Value 28
Common Operational Premises Underlying the Standard of Value 28
Going Concern 28
Liquidation Value 29
Other Issues 30
Fair Value in Alternate Contexts 30
Fair Market Value in Alternate Contexts 31
Standards of Value in the International Context 32
Summary 33
2 Fair Market Value in Estate and Gift Tax 35
Introduction 35
Common Definitions of Fair Market Value 36
ix
x I Contents
History of Fair Market Value 37
Elements of Fair Market Value 41
Price at Which a Property Would Change Hands 42
Willing Buyer 44
Willing Seller 53
No Compulsion to Buy or Sell 56
Reasonable Knowledge of Relevant Facts 61
Common Discounts 77
Summary 84
3 Fair Value in Shareholder Dissent and Oppression 87
Introduction 87
Fair Value 91
Early References to Fair Value 91
Fair Value as Defined by Various Authorities and Statutes 92
Dissenter s Rights 95
Overview and History 95
Growth in Popularity of the Appraisal Remedy 98
Context of Modern Appraisal Rights 99
Oppression Remedy 100
Development of Oppression Remedy 100
Alternative Remedies 104
Context of Oppression Remedy 105
Freeze Outs and Squeeze Oouts 106
Recognizing Oppression 108
Reasonable Expectations 110
Breach of Fiduciary Duty 112
Heavy Handed and Arbitrary or Overbearing Conduct 113
Standard of Value in the 50 States 115
Breaking Down the Components of Fair Value 120
Before the Effectuation of the Corporate Action to Which
the Shareholder Objects 120
Excluding Any Appreciation or Depreciation in Anticipation
of the Corporate Action Unless Exclusion Would Be
Inequitable 122
Current and Customary Valuation Techniques 123
Discounts and Premiums 129
Level of Value 130
Other Shareholder Level Discounts 131
Contents | xi
Entity Level Discounts 134
Control Premiums 135
Extraordinary Circumstances 137
Equitable Adjustments 146
Delaware s Entire Fairness 146
Consideration of Wrongdoing in Calculating Fair Value 149
Discounts Used as an Equitable Adjustment 154
Damage Claims 159
Fair Value and the Minority Shareholder 161
Summary 162
4 Standards of Value in Divorce 165
Introduction 165
Marital Property: General Background and History 168
Identification of Marital Property and Separate Property 170
Relationship between Valuation and Identification of
Intangible Assets 173
Appreciation on Separate Property 174
Premises and Standards of Value in Divorce 177
Premises of Value 177
Standards of Value 179
Premises of Value Revealed through the Valuation of
Insurance Agencies 183
Concepts of Value under the Two Premises 185
Standards of Value in Divorce among the 50 States 186
Lack of Statutory Insight 186
Revealing Standard of Value through Case Law 188
Toward a Standard of Value Classification System 192
Value in Exchange 201
Goodwill 201
Lack of Control and Marketability Discounts under Value
in Exchange 216
Buy Sell Agreements under Value in Exchange 221
Value to the Holder 226
Goodwill 226
Shareholder Level Discounts under the Value to the Holder
Premise 238
Buy Sell Agreements under Value to the Holder 239
Summary 242
xii | Contents
5 Fair Value in Financial Reporting 245
Introduction 245
Fair Value in Financial Reporting: What Is It? 246
History of Fair Value in U.S. Accounting Literature 249
Application of the Fair Value Standard to Business Combinations 253
Application of the Fair Value Standard to Asset Impairment Tests 258
Interpretation of Fair Value Compared to Other Standards of Value 263
Fair Value in Financial Reporting versus Fair Value in
Dissenters Rights Cases 263
Fair Value in Financial Reporting versus Investment Value 263
Fair Value in Financial Reporting versus Fair Market Value 263
Audit Issues 266
Summary 267
Sources of Information 269
Appendix A International Business Valuation Standards 271
Appendix B Fair Value in Dissent and Oppression Chart 281
Appendix C Standard of Value Divorce Chart 299
|
| adam_txt |
Contents
Acknowledgments xiii
Foreword xvii
Preface xix
Introduction: Standards of Value 1
1 Common Standards and Premises of Value 17
Common Standards and Premises 17
Price, Value, and Cost 18
Defining a Standard of Value 19
Premises of Value 20
Common Standards of Value 21
Fair Market Value 21
Fair Value 23
Investment Value 24
Intrinsic Value 25
Book Value 28
Common Operational Premises Underlying the Standard of Value 28
Going Concern 28
Liquidation Value 29
Other Issues 30
Fair Value in Alternate Contexts 30
Fair Market Value in Alternate Contexts 31
Standards of Value in the International Context 32
Summary 33
2 Fair Market Value in Estate and Gift Tax 35
Introduction 35
Common Definitions of Fair Market Value 36
ix
x I Contents
History of Fair Market Value 37
Elements of Fair Market Value 41
Price at Which a Property Would Change Hands 42
Willing Buyer 44
Willing Seller 53
No Compulsion to Buy or Sell 56
Reasonable Knowledge of Relevant Facts 61
Common Discounts 77
Summary 84
3 Fair Value in Shareholder Dissent and Oppression 87
Introduction 87
Fair Value 91
Early References to Fair Value 91
Fair Value as Defined by Various Authorities and Statutes 92
Dissenter's Rights 95
Overview and History 95
Growth in Popularity of the Appraisal Remedy 98
Context of Modern Appraisal Rights 99
Oppression Remedy 100
Development of Oppression Remedy 100
Alternative Remedies 104
Context of Oppression Remedy 105
Freeze Outs and Squeeze Oouts 106
Recognizing Oppression 108
Reasonable Expectations 110
Breach of Fiduciary Duty 112
Heavy Handed and Arbitrary or Overbearing Conduct 113
Standard of Value in the 50 States 115
Breaking Down the Components of Fair Value 120
Before the Effectuation of the Corporate Action to Which
the Shareholder Objects 120
Excluding Any Appreciation or Depreciation in Anticipation
of the Corporate Action Unless Exclusion Would Be
Inequitable 122
Current and Customary Valuation Techniques 123
Discounts and Premiums 129
Level of Value 130
Other Shareholder Level Discounts 131
Contents | xi
Entity Level Discounts 134
Control Premiums 135
Extraordinary Circumstances 137
Equitable Adjustments 146
Delaware's Entire Fairness 146
Consideration of Wrongdoing in Calculating Fair Value 149
Discounts Used as an "Equitable Adjustment" 154
Damage Claims 159
Fair Value and the Minority Shareholder 161
Summary 162
4 Standards of Value in Divorce 165
Introduction 165
Marital Property: General Background and History 168
Identification of Marital Property and Separate Property 170
Relationship between Valuation and Identification of
Intangible Assets 173
Appreciation on Separate Property 174
Premises and Standards of Value in Divorce 177
Premises of Value 177
Standards of Value 179
Premises of Value Revealed through the Valuation of
Insurance Agencies 183
Concepts of Value under the Two Premises 185
Standards of Value in Divorce among the 50 States 186
Lack of Statutory Insight 186
Revealing Standard of Value through Case Law 188
Toward a Standard of Value Classification System 192
Value in Exchange 201
Goodwill 201
Lack of Control and Marketability Discounts under Value
in Exchange 216
Buy Sell Agreements under Value in Exchange 221
Value to the Holder 226
Goodwill 226
Shareholder Level Discounts under the Value to the Holder
Premise 238
Buy Sell Agreements under Value to the Holder 239
Summary 242
xii | Contents
5 Fair Value in Financial Reporting 245
Introduction 245
Fair Value in Financial Reporting: What Is It? 246
History of Fair Value in U.S. Accounting Literature 249
Application of the Fair Value Standard to Business Combinations 253
Application of the Fair Value Standard to Asset Impairment Tests 258
Interpretation of Fair Value Compared to Other Standards of Value 263
Fair Value in Financial Reporting versus Fair Value in
Dissenters' Rights Cases 263
Fair Value in Financial Reporting versus Investment Value 263
Fair Value in Financial Reporting versus Fair Market Value 263
Audit Issues 266
Summary 267
Sources of Information 269
Appendix A International Business Valuation Standards 271
Appendix B Fair Value in Dissent and Oppression Chart 281
Appendix C Standard of Value Divorce Chart 299 |
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| spelling | Fishman, Jay E. Verfasser aut Standards of value theory and applications Jay E. Fishman ; Shannon P. Pratt ; William J. Morrison Hoboken, NJ Wiley 2007 XXI, 346 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Includes index Valuation Fair value Accounting Fair-Value-Bewertung (DE-588)4802015-1 gnd rswk-swf Fair-Value-Bewertung (DE-588)4802015-1 s 1\p DE-604 Pratt, Shannon P. 1933-2021 Sonstige (DE-588)142483109 oth Morrison, William J. Sonstige oth http://www.loc.gov/catdir/toc/ecip0616/2006017528.html Table of contents only HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=015059628&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis 1\p cgwrk 20201028 DE-101 https://d-nb.info/provenance/plan#cgwrk |
| spellingShingle | Fishman, Jay E. Standards of value theory and applications Valuation Fair value Accounting Fair-Value-Bewertung (DE-588)4802015-1 gnd |
| subject_GND | (DE-588)4802015-1 |
| title | Standards of value theory and applications |
| title_auth | Standards of value theory and applications |
| title_exact_search | Standards of value theory and applications |
| title_exact_search_txtP | Standards of value theory and applications |
| title_full | Standards of value theory and applications Jay E. Fishman ; Shannon P. Pratt ; William J. Morrison |
| title_fullStr | Standards of value theory and applications Jay E. Fishman ; Shannon P. Pratt ; William J. Morrison |
| title_full_unstemmed | Standards of value theory and applications Jay E. Fishman ; Shannon P. Pratt ; William J. Morrison |
| title_short | Standards of value |
| title_sort | standards of value theory and applications |
| title_sub | theory and applications |
| topic | Valuation Fair value Accounting Fair-Value-Bewertung (DE-588)4802015-1 gnd |
| topic_facet | Valuation Fair value Accounting Fair-Value-Bewertung |
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