Featuring
Summary
The webinar will provide a comprehensive overview of implied private company pricing line (IPCPL) theory, empirical evidence, and application. IPCPL theory implies private capital market transaction costs represent the shadow price of liquidity risk in private capital markets, i.e., the price of liquidity risk were it traded explicitly in private capital markets. Such theory is well-grounded in valuation theory and the underlying asset pricing and financial economic theories. IPCPL theory has been empirically tested and is easily testable by any valuation analyst. And, finally, because private capital market transaction costs estimated using the IPCPL methods represent the difference between the prices of liquidity in public and private capital markets, such methods arguably represent a more theoretically and empirically valid—and, so, more objective—method of estimating discounts for lack of marketability associated with private-market transaction costs.
Multi-User CPE Policy
Admission to this program includes one CPE certificate for one individual.
Any additional listeners requesting CPE must be registered prior to the event, log in on their own connection, and pay a processing fee assessed at the completion of the online CPE survey for this course.
CPE Processing Fees may be bypassed by entering a valid, unused CPE Authorization Code (for single event purchasers) or by logging
into BVR's website (for subscribers to BVR's Training Series).
CPE Information
- Prerequisites: Knowledge of Business Valuation
- Program Level: Advanced
- Preparation Required: None
- Delivery Method: Group Internet-Based
- Recommended CPE: 1.0 Credit Hours (Accounting – Technical)
Business Valuation Resources is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of
continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on
the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National
Registry of CPE Sponsors through its website: www.nasbaregistry.org.
NASBA Sponsor
Every webinar includes periodic online polling questions to assess continuous participation. Attendees must respond to all polling
questions during the webinar to be awarded NASBA-qualified CPE. Attendees that respond to all polling questions and complete a survey
will be verified and emailed a CPE certificate within 5-7 business days.
