26
Date: Wednesday, July 26, 2017
Time:
10:00am-11:40am PT / 1:00pm-2:40pm ET
Format: A BVR Webinar

Earn 2 CPE credits
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Featuring  (click image for bio)

Stillian Ghaidarov
Houlihan Lokey

About This Program

Are you up to speed on the new developments in the forward-starting put option model? Dispel confusion and common misconceptions as Stillian Ghaidarov walks you through a methodology for the application of put option models. Compare with other put option models commonly used to quantify illiquidity discounts. Join this session to strengthen your conceptual understanding of the theoretical framework behind these models and gain deeper insights about their relative strengths and weaknesses. Learn how to apply the model of your choice to dividend-paying securities in a manner that produces internally consistent results. Take your knowledge to the highest level with this top tier session.

Agenda

  • Put Option Models for Quantifying Illiquidity Discount: Theoretical Framework
    • Key assumptions underlying all models
    • Common misconceptions
  • Review of Commonly Used Put Option Models (No Dividends Case)
    • Protective Put Option
      • Conceptual framework
      • Numerical performance
    • Lookback Put Option
      • Conceptual framework
      • Numerical performance
    • Average-Strike Put Option
      • Conceptual framework
      • Analytical Issues and Different Formulas
      • Numerical performance
    • Forward-Starting Put Option
      • Conceptual framework
      • Numerical performance
    • Summary Comparison
  • Quantifying Illiquidity Discounts for Dividend-Paying Stocks
  • Examples

Learning Objectives

  • Be able to describe the conceptual framework and key assumptions common to all put option models used to quantify illiquidity discounts
  • Gain an understanding of the theoretical differences between the various put option models and the corresponding analytical issues faced by practitioners
  • Learn a new methodology for applying put option models to dividend-paying stocks that produces internally consistent results in all circumstances

Single Connection Policy

Admission to this event authorizes one computer and phone connection for one location. These connections may be transferred users and/or locations. Multiple concurrent connections for a single admission registration are not allowed.

Multi-User CPE Policy

Admission to this program includes one CPE certificate for one individual. Any additional listeners requesting CPE must pay a processing fee assessed at the completion of the online CE 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: 2 Credit Hours (Specialized Knowledge & Applications)

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