Sat.Mar 26, 2022 - Fri.Apr 01, 2022

article thumbnail

Proxy Season 2022: Early Trends in Executive Compensation

Harvard Corporate Governance

Posted by Amit Batish, Equilar, Inc., on Tuesday, March 29, 2022 Editor's Note: Amit Batish is Director of Content at Equilar, Inc. This post is based on an Equilar memorandum by Mr. Batish and Courtney Yu. Related research from the Program on Corporate Governance includes The Perils and Questionable Promise of ESG-Based Compensation by Lucian A. Bebchuk and Roberto Tallarita (discussed on the Forum here ); and Paying for Long-Term Performance by Lucian Bebchuk and Jesse Fried (discussed on the

329
329
article thumbnail

How Did the Pandemic Impact EBITDA Multiples in 2020? Explore a 12-Month Snapshot in the DealStats Value Index

BVR

With the COVID-19 pandemic putting a stranglehold on the U.S. economy for most of 2020 and causing an unprecedented economic impact on small businesses, DealStats Value Index (DVI) captured the 12-month snapshot on how earnings before interest, taxes, depreciation, and amortization (EBITDA) multiples have trended.

EBITDA 246
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Protected: Review: Valuing A Business “VAB” 6th Edition by Ray Moran

IVSC

This content is password protected. To view it please enter your password below: Password: The post Protected: Review: Valuing A Business “VAB” 6th Edition by Ray Moran appeared first on International Valuation Standards Council.

223
223
article thumbnail

The promise and peril of the metaverse

Mckinsey and Company

The metaverse has the potential to radically transform the digital—and global—economy, but many questions remain.

article thumbnail

How to Leverage Intent Data for Better Outcomes

Speaker: Susan Spencer, Principal of Spencer Communications

Intent signal data can go a long way toward shortening sales cycles and closing more deals. The challenge is deciding which is the best type of intent data to help your company meet its sales and marketing goals. In this webinar, Susan Spencer, fractional CMO and principal of Spencer Communications, will unpack the differences between contact-level and company-level intent signals.

article thumbnail

The COVID-19 Pandemic’s Fleeting and Lasting Impact on Executive Compensation

Harvard Corporate Governance

Posted by Mike Kesner, Linda Pappas, and Joshua Bright, Pay Governance LLC, on Thursday, March 31, 2022 Editor's Note: Mike Kesner is partner and Linda Pappas and Joshua Bright are principals at Pay Governance LLC. This post is based on a Pay Governance memorandum by Mr. Kesner, Ms. Pappas, Mr. Bright, and Ira Kay. Related research from the Program on Corporate Governance includes The Perils and Questionable Promise of ESG-Based Compensation by Lucian A.

288
288
article thumbnail

4Q 2020 U.S. Economic Performance Indicators at a Glance: GDP, Consumer Spending, and Unemployment

BVR

In today’s constantly changing and evolving economy, business valuators must have a firm grasp of the current state in order to successfully complete a business valuation engagement. The Economic Outlook Update (EOU), published by BVR, digests expansive research from leading authoritative sources into convenient monthly and quarterly reports. Get a sneak peek at the 4Q 2020 EOU with a few key economic performance components showing insights on gross domestic product (GDP), consumer spending, and

More Trending

article thumbnail

What is the metaverse—and what does it mean for business?

Mckinsey and Company

No official definition yet exists for the metaverse, but companies can’t afford to wait until one does or the metaverse fully evolves to start experimenting and investing in it.

article thumbnail

Board Oversight of ESG: Preparing for the 2022 Proxy Season and Beyond

Harvard Corporate Governance

Posted by David M. Silk, Sabastian V. Niles, and Carmen X. W. Lu, Wachtell, Lipton, Rosen & Katz, on Monday, March 28, 2022 Editor's Note: David M. Silk and Sabastian V. Niles are partners and Carmen X. W. Lu is counsel at Wachtell, Lipton, Rosen & Katz. This post is based on their Wachtell memorandum. Related research from the Program on Corporate Governance includes The Illusory Promise of Stakeholder Governance (discussed on the Forum here ) and Will Corporations Deliver Value to

Equity 256
article thumbnail

Treasure Trove of Data in the 2021 Business Reference Guide

BVR

Business valuation experts can find a great deal of useful information in the Business Reference Guide (BRG) by Tom West, which has been updated for 2021. Now in its 31st year, the book contains the latest industry-related information including pricing tips, benchmarking information with comparison data, industry resources, and general industry data on over 600 types of businesses, including franchises.

article thumbnail

What Happens to the Funds in an HSA After the Account Holder Dies?

ThomsonReuters

QUESTION: Our company is adding a high-deductible health plan (HDHP) option next year, so that employees who choose the HDHP and otherwise meet the HSA eligibility requirements can establish and contribute to HSAs. What will happen to the funds in an HSA after an account holder dies? ANSWER: Upon the death of an HSA account holder, any amounts remaining in the HSA transfer to the beneficiary named in the HSA beneficiary designation form.

article thumbnail

Statement of Cash Flows vs. Cash Flow Statement

Speaker: Wayne Spivak - President and Chief Financial Officer of SBA * Consulting LTD, Industry Writer, and Public Speaker

The old adages that "cash is king" and "you can’t spend profits" still hold true today. But however well-known these sayings might be, it requires a change in mindset to properly implement a cash flow management system that predicts your business's runaway as accurately as possible. Key to this new mindset is understanding the difference between the Statement of Cash Flows, a historical look at the source and uses of cash, and the Cash Flow Statement, which uses transaction history and forward-l

article thumbnail

Singapore emerges as a new-business-building hub

Mckinsey and Company

New infrastructure and funding sources, along with established practices, are helping traditional companies launch new businesses that can scale quickly.

116
116
article thumbnail

Beyond the Target: M&A Decisions and Rival Ownership

Harvard Corporate Governance

Posted by Luca X. Lin (HEC Montreal), on Monday, March 28, 2022 Editor's Note: Luca X. Lin is Assistant Professor of Finance at HEC Montreal. This post is based on a recent paper authored by Mr. Lin; Miguel Anton , Associate Professor of Financial Management at IESE Business School; Jose Azar , Associate Professor of Economics at the University of Navarra; and Mireia Gine , Associate Professor of Financial Management at IESE Business School.

Finance 249
article thumbnail

Wholesale Trade: Sales and Inventories

BVR

In the May issue of the Economic Outlook Update (EOU), the publication added data highlighting the wholesale trade segment of the U.S. economy, putting a spotlight on the data the U.S. Census published. The report highlights the sales totals of merchant wholesalers for April 2021, which included adjustments for seasonal variations and trading day differences.

244
244
article thumbnail

SEC Climate Disclosure Proposal May Be the Next SOX for Internal Audit

Audit Board

After a year of hinting at development of sweeping environmental disclosure rules, the U.S. Securities and Exchange Commission (SEC) has finally announced proposed regulations, titled The Enhancement and Standardization of Climate-Related Disclosures for Investors. Over the past 20 years, there have been only a couple of other seismic legislative/regulatory events — the Sarbanes-Oxley Act (SOX) in 2002 and, to a lesser extent, the Dodd-Frank Act in 2010 — so greatly impacting internal audit.

article thumbnail

Mastering Intent Data: Understanding its Importance & Best Practices

Speaker: Joe Apfelbaum, CEO of Ajax Union

In this webinar, Joe Apfelbaum, CEO of Ajax Union and business strategist, will take you through the ABCs of intent data. You'll learn how to effectively use it to drive business results, with practical tips on how to leverage both company and contact intent data to maximize your marketing efforts. Whether you're a seasoned marketer or just getting started, this webinar is a must-attend for anyone looking to stay ahead in the ever-evolving world of digital marketing.

article thumbnail

Lighthouses reveal a playbook for responsible industry transformation

Mckinsey and Company

The advanced factories of the Global Lighthouse Network show how sustainability and workforce engagement can accelerate and scale Fourth Industrial Revolution transformation—responsibly.

102
102
article thumbnail

Recent SEC Enforcement Developments

Harvard Corporate Governance

Posted by Haimavathi V. Marlier, Jina Choi, and Michael D. Birnbaum, Morrison & Foerster LLP, on Sunday, March 27, 2022 Editor's Note: Haimavathi V. Marlier , Jina Choi , and Michael D. Birnbaum are partners at Morrison & Foerster LLP. This post is based on their Morrison & Foerster memorandum. In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with lin

article thumbnail

Business Valuation’s ‘Dirty Little Secret’

BVR

Recent developments have put the spotlight squarely on projected financial information (PFI). The perception is that too many valuation experts simply accept projections and forecasts they’re given without applying enough scrutiny—or any scrutiny at all. Fortunately, there is some new guidance on how to examine and substantiate PFI you get from management or other third parties in BVR’s new Guide to Management Projections and Business Valuation: Analysis and Case Law.

article thumbnail

FTC Implements Annual Increase of Threshold for Premerger Reporting

Mogin Rubin M&A

Premerger reporting is now required for companies working on transactions that will have an estimated value of $101 million or more at the anticipated time of closing. The Federal Trade Commission moved the reporting threshold up by $9 million from $92 million effective Feb. 23, 2022.

article thumbnail

Economic conditions outlook, March 2022

Mckinsey and Company

Worries about geopolitical conflicts, among other risks to growth, now exceed executives’ concerns about the COVID-19 pandemic. Overall economic optimism continues to decline.

article thumbnail

BlackRock’s 2022 Engagement Priorities

Harvard Corporate Governance

Posted by Breanne Dougherty, Victoria Gaytan, and Hilary Novik-Sandberg, BlackRock Investment Stewardship, on Monday, March 28, 2022 Editor's Note: Michelle Edkins is Managing Director of BlackRock Investment Stewardship. This post is based on a BlackRock Investment Stewardship memorandum by Ms. Edkins, Breanne Dougherty, Victoria Gaytan, and Hilary Novik-Sandberg.

228
228
article thumbnail

Five Areas to Explore If You Suspect a Spouse Is Hiding Crypto Assets in a Marital Dispute

BVR

In BVR’s recent webinar, Cryptocurrency Fraud and Forensics: What Valuation Professionals Need to Know, forensic and cryptocurrency experts Katerina Gaebel and Mark DiMichael, both of Citrin Cooperman, covered various hot topics on fraud and forensic accounting issues in digital assets and how they affect the business valuation profession. Here, we summarize five key areas where one would find proof of crypto asset fraud in a marital dispute, including interviews, tax returns, bank accounts, cre

article thumbnail

Benchmark International Successfully Facilitated the Transaction Between Velopi Limited and Educate 360, LLC

Benchmark Report

Benchmark International is pleased to announce the acquisition of County Cork-based Velopi by Boston-based Educate 360. Established in 2007 and headquartered in Kinsale, Ireland, Velopi provides training and consultancy services, specialising in the niche of project management. The firm has a list of renowned clients that includes Abbott and Pfizer.

article thumbnail

Outer space in 2030

Mckinsey and Company

In this video, three of McKinsey’s aerospace experts describe the ways in which future activity in space will benefit people on Earth—and some challenges that could arise along the way.

102
102
article thumbnail

SPAC Disclosure of Net Cash Per Share: A Proposal for the SEC

Harvard Corporate Governance

Posted by Michael Klausner (Stanford University), Michael Ohlrogge (New York University), and Harald Halbhuber (New York University), on Tuesday, March 29, 2022 Editor's Note: Michael Klausner is the Nancy and Charles Munger Professor of Business and Professor of Law at Stanford Law School; Michael Ohlrogge is Assistant Professor of Law at NYU School of Law; and Harald Halbhuber is partner at Shearman & Sterling LLP and a Research Fellow at New York University School of Law, Institute for

Finance 283
article thumbnail

Tips and Techniques for Detecting Misrepresentations in Business Interruption Claims

BVR

Business interruption insurance claims are on the rise, and analysts need to be on the lookout for misrepresentations. Michael Haugen, CPA, CFF, CFE (JS Held) conducted a session on this at the recent AICPA FVS Conference, and it’s an area where valuation experts would do well to bolster their knowledge and skills in financial forensics. During his session, Haugen gave some tips on how to “sniff out” misrepresentations in these claims.

article thumbnail

Avanade is making remote working feel less remote

Avanade

With Microsoft Viva, Avanade employees get a virtual solution that brings together all their collaboration, productivity and workplace needs into one place.

105
105
article thumbnail

How can corporate functions become more agile?

Mckinsey and Company

Faster decision making, better interdepartment coordination, and a sharper focus on business priorities are much more possible with the thoughtful adoption of agile models.

104
104
article thumbnail

Post-Pandemic? What to Look For in the 2022 Proxy Season

Harvard Corporate Governance

Posted by Blair Jones, Sarah Hartman, and Austin Vanbastelaer, Semler Brossy LLC, on Thursday, March 31, 2022 Editor's Note: Blair Jones is Managing Director, Sarah Hartman is Senior Associate Consultant, and Austin Vanbastelaer is Senior Consultant at Semler Brossy Consulting Group, LLC. This post is based on their Semler Brossy memorandum. The wrenching Covid-19 pandemic is far from over, but investors will see something of a return to business as usual in the 2022 proxy season.

article thumbnail

Five Timely Insights From the NYSSCPA Business Valuation and Litigation Services Conference

BVR

The conference season is well underway, and Business Valuation Update has been on the virtual road, collecting the latest insights on a wide variety of topics. Here are some interesting takeaways from the New York State Society of CPAs (NYSSCPA) Business Valuation and Litigation Services Conference, held May 17. Topics included emerging issues (SPACs, cryptocurrency, Zoom as a practice-builder) and some new perspectives on evergreen topics (estate valuations, cannabis, distressed firms, and coll

article thumbnail

Penske Automotive Acquires Three BMW MINI Dealerships In UK

Benzinga

Penske Automotive Group Inc (NYSE: PAG ) U.K. subsidiary has acquired three Bayerische Motoren Werke AG (OTC: BMWYY ) BMW MINI dealerships and a collision center in the. Full story available on Benzinga.com.

98
article thumbnail

Nonenforcement Policy for ACA Noncompliant “Grandmothered Plans” Is Extended Indefinitely

ThomsonReuters

Insurance Standards Bulletin Series – Information – Extension of Limited Non-Enforcement Policy through 2023 and Later Benefit Years (Mar. 23, 2022). Available at [link]. CMS has indefinitely extended the limited nonenforcement policy allowing states to permit insurers in the individual and small group markets to renew health insurance policies that would otherwise have to be canceled due to noncompliance with certain Affordable Care Act (ACA) insurance market reforms.

article thumbnail

Recent Delaware Court of Chancery SPAC Opinions

Harvard Corporate Governance

Posted by Nathan E. Barnett and Benjamin Strauss, McDermott Will & Emery LLP, on Wednesday, March 30, 2022 Editor's Note: Nathan E. Barnett and Benjamin Strauss are partners at McDermott Will & Emery LLP. This post is based on their MWE memorandum, and is part of the Delaware law series ; links to other posts in the series are available here.

article thumbnail

The Story Behind Your Valuation: Damodaran’s Five-Step Framework

BVR

One of the lessons learned from the COVID-19 crisis is that a coherent narrative is more important than ever in business valuation, says Dr. Aswath Damodaran, of New York University Stern School of Business, who gave the keynote address at the CBV Congress 2021. A valuation needs a marriage of narrative and numbers, Damodaran says. In a good valuation, the numbers are “bound together” by a coherent narrative, and storytelling is kept grounded with numbers.

article thumbnail

Benchmark International Successfully Facilitated the Transaction Between 7 Elements Limited and Redcentric plc

Benchmark Report

Benchmark International has successfully advised on the sale of Edinburgh-based 7 Elements to Harrogate-based Redcentric. 7 Elements is a CREST accredited and award-winning technical assurance services company providing industry-leading security testing, incident response, and bespoke consultancy services. Established in 1997, AIM-listed Redcentric is a managed service provider.