Reynolds Holding

OCTOBER 10, 2022

Stock repurchases are popular. Stock repurchases are also controversial. Skeptics argue that, contrary to what managers claim, repurchasing isn’t done to buy undervalued stocks but to benefit the managers themselves. Nguyen, Vu, and Yin (2020) reveal a negative association between firms’ stock repurchases and innovation.

Finance 72

Finance Marketability Dividends Corporate Finance 72

Appraisal Rights

JUNE 25, 2019

Recent discussion in the Delaware appraisal space focusing on Aruba, and its predecessor cases, discussing topics of market efficiency, “unaffected stock price”, whether the merger price is presumptively fair, etc. all presume an active, open, and at least on-first-glance well-functioning market for the stock of a company.

Appraisal 52

Appraisal Marketability 52

ThomsonReuters

JULY 6, 2023

For example, a developer could use an API to send a request for updated stock prices from another application’s database. Additionally, APIs provide a way for tax professionals to access real-time data for analysis, which can help them make better decisions about their company’s tax liabilities.

Compliance 92

Compliance 92

Value Scope

JULY 21, 2020

It was a hot topic before the COVID pandemic, in discussions to measure and value how companies engaged in sustainable and societally beneficial activities. It will return as a topic across the business, regulatory, and investment communities again soon. What about stock price? What does this really mean?

Intangible Assets 130

Intangible Assets Beta Alpha Unlevered Beta 130

Reynolds Holding

FEBRUARY 1, 2024

Few topics in the corporate and securities law literature are as controversial as securities class actions – that is, actions in which shareholders of public firms seek to collectively obtain compensation for damages resulting from false or misleading statements in corporate disclosures. Supreme Court decision in Morrison v.

Marketability 59

Marketability Firm Value Banking 59

Equilest

NOVEMBER 25, 2023

These examples cover a range of topics, including discounted cash flow (DCF) analysis, comparable company analysis (CCA), and market multiples. Definition: The Dividend Discount Model (DDM) is a valuation approach that establishes the fair value of a stock based on the present value of its anticipated future dividends.

Discounted Cash Flow 52

Discounted Cash Flow Dividends Enterprise Value Terminal Value 52

Reynolds Holding

JUNE 18, 2023

Most important, is the model proficient at creating focused summaries for investors interested in a particular topic, such as ESG activities or firms’ risk exposure? To address these issues, we concentrate on two primary types of corporate disclosures: management discussion and analysis (MD&A) and earnings conference calls.

Marketability 64

Marketability Technology Finance 64

Reynolds Holding

OCTOBER 1, 2023

15 Question: In periods prior to pursuing an initial public offering, a private company may grant stock awards or option awards. For outstanding stock awards and option awards, the calculations required by Item 402(v)(2)(iii)(C)(1) of Regulation S-K should be determined based on the change in fair value from the end of the prior fiscal year.

Compliance 40

Compliance Equity Marketability Corporate Finance 40

Reynolds Holding

MAY 6, 2022

In a controlled analysis of executive compensation, we find that, while many CEO base salaries declined during 2020, the total compensation for all CEOs increased by nearly 40 percent, on average, regardless of whether their base salary was reduced or not.

111

111

Reynolds Holding

JUNE 14, 2022

The Dodd-Frank Act directed the SEC to require stock exchanges to obligate each listed company to implement a compensation recovery policy, or “clawback” policy, that provides for the company to recoup incentive-based compensation paid to executive officers. Background.

Total Shareholder Return 45

Total Shareholder Return Equity 45

Brian DeChesare

NOVEMBER 15, 2023

I’ve now been writing about finance careers for almost 20 years, and the topic of the CFA for investment banking never seems to die. I got so tired of these debates that I never planned to cover this topic again. I first criticized the CFA in a 2009 article , which generated a lot of angry comments. Not much has changed since then.

Banking 59

Banking Start-ups Finance Private Equity Firm 59

Appraiser Newsroom

JULY 9, 2023

She has over 25 years of experience in valuation, financial reporting and tax, conducting numerous business and asset valuations for a variety of purposes including purchase price allocations, goodwill and asset impairments, mergers & acquisitions, tax restructuring, debt analysis, and gift and estate tax planning. Pratt and Roger J.

Intangible Assets 40

Intangible Assets Business Valuation Appraisal Finance 40

Brian DeChesare

MAY 3, 2023

It’s not a likely interview topic, and it goes against my normal advice to focus on the core concepts , learn them very well, and skip the bells and whistles. The main argument in favor of the DDM is that it best represents what happens in real life when you buy a stock. appeared first on Mergers & Inquisitions.

Dividends 64

Dividends Terminal Value Enterprise Value Equity 64

Farrel Fritz

JULY 25, 2022

The topic of mergers between two business entities designed to involuntarily extinguish the equity interest of a minority owner in exchange for cash is one of our favorites on New York Business Divorce. So I’ll give my take on how the issues might be treated if considered on the merits. The Company, its Principals, and the Merger Notice.

Appraisal 52

Appraisal Equity Fair Market Value Marketability 52

ThomsonReuters

JUNE 15, 2021

A warrant is a written call option under which the counterparty has the right, but not the obligation, to purchase a specified quantity or amount of common stock from the issuing entity at a specified price. Topic 280, Segment Reportin g , is a topic target private companies have to mindful of because the rules are unique to public companies.

Risk-free Rate 64

Risk-free Rate Equity Start-ups Book Value 64

Musings on Markets

DECEMBER 21, 2022

In a world where specialization is the norm, this does put me at a bit of a disadvantage, since there are many who know a great deal more about almost any topic that I choose to talk about, but I do think that it gives me a big-picture perspective that helps me find answers.

Corporate Finance 89

Corporate Finance Finance Start-ups Marketability 89

Appraiser Newsroom

JULY 5, 2022

He is co-author of several publications most notably include, Financial Valuations: Applications and Models , published by John Wiley & Sons , Reasonable Compensation: Applications and Analysis for Management, Valuation and Tax , published by Business Valuation Resources® , and The Cannabis Industry Accounting and Appraisal Guide.

Business Valuation 40

Business Valuation Intangible Assets Appraisal Finance 40

Brian DeChesare

MAY 11, 2022

There are few topics as heated as age and investment banking. But unlike other controversial topics – crypto, the CFA, or social media censorship – this one rarely generates long-running online arguments. Invest in stocks, real estate, or other assets. Instead, it mostly produces comments such as: “Am I too old?

Banking 98

Banking Start-ups Finance Private Equity Firm 98

Harvard Corporate Governance

OCTOBER 9, 2023

Companies may also want to consider whether they want to update their compensation discussion and analysis to further emphasize their own view of pay for performance (which might be different from the prescriptive requirements of the pay versus performance requirements of the Item 402(v) requirement).

Total Shareholder Return 188

Total Shareholder Return Equity Compliance Marketability 188

Brian DeChesare

SEPTEMBER 20, 2023

In some ways, prep for VC interviews is easier because you don’t have to learn or memorize many technical topics, but in some ways, it’s harder since you have to do lots of firm-specific research. A: As with hedge fund stock pitches , you need to research markets and companies and develop 2-3 solid ideas here.

Start-ups 59

Start-ups Equity Marketability Terminal Value 59

Musings on Markets

JANUARY 29, 2021

As you undoubtedly know, the last few days have been filled with news stories of how small investors, brought together on online forums, have not only pushed up the stock prices of the stocks that they have targeted (GameStop, AMC, BB etc.), But what if you think a stock is too highly priced and is likely to go down?

Start-ups 52

Start-ups Marketability Banking Finance 52

Value Scope

JANUARY 13, 2021

The oral arguments made last September really pointed out how so many previous decisions on these topics conflict and/or leave open significant issues. Intrinsic Value” is what equity research analysts use when they look at public stocks and bonds. Break-even Analysis. This case is a very significant case. Well Economics.

Fair Market Value 130

Fair Market Value Discounted Cash Flow Treasury Marketability 130

Reynolds Holding

JULY 23, 2023

The three most frequent topics addressed are revenues, segment reporting, and non-GAAP/KPIs. Management Discussion and Analysis (MD&A) disclosures related to risk factors, products, customers, markets, or seasonality are also common, representing 23 percent of the sample.

Compliance 52

Compliance Corporate Finance Marketability Finance 52

Equilest

MAY 27, 2023

To delve deeper into the topic of evaluating inventory's impact on business valuation and to gain valuable insights into efficient inventory management strategies - keep reading this blog post. By analyzing sales data and customer trends, they optimized their inventory levels, ensuring they always had the right products in stock.

Business Valuation 40

Business Valuation Intangible Assets Technology Data Analysis 40

Brian DeChesare

NOVEMBER 22, 2023

I never expected to revisit the topic of bulge bracket banks so quickly because the full list changes slowly, and we updated it a few years ago. Larger, More Complex Deals: You’ll work with multi-billion-dollar corporations instead of family-owned businesses, so the analysis is often more in-depth.

Banking 101

Banking Start-ups Finance Equity 101

Value Scope

JANUARY 13, 2021

The oral arguments made last September really pointed out how so many previous decisions on these topics conflict and/or leave open significant issues. Intrinsic Value” is what equity research analysts use when they look at public stocks and bonds. (I know, the Supreme Court is not going to give us the answer to this question!)

Fair Market Value 100

Fair Market Value Discounted Cash Flow Treasury Marketability 100

Cooley M&A

DECEMBER 14, 2020

The group covered a wide range of topics during the 90-minute session, including three key themes highlighted below. Consequently, the overarching communications strategy to external audiences, most notably a prospective investor base, should be proactive and focused on maximizing media coverage and engaging with sell-side analysis.

Private Equity Firm 52

Private Equity Firm Equity Marketability Banking 52

Reynolds Holding

OCTOBER 9, 2023

4] ANALYSIS The charges stem from an SEC enforcement initiative focused on Form 4 and Schedules 13D and 13G filings that company insiders are required to file regarding their holding of and transactions in company securities. See our client memo on this topic at [link]. [3] 3] 17 C.F.R. 240.13d-1(c). [4] Release No.

Equity 40

Equity Compliance Technology 40

Musings on Markets

JANUARY 12, 2021

For a class to resonate and be remembered, it has to be more than a collection of topics, and with each of my classes there is a core narrative that animates and connects the class sessions. And as always, I invite you come along for the ride. What I teach. In fact, there are three key themes that I emphasize through this class.

Corporate Finance 52

Corporate Finance Start-ups Finance Marketability 52

Reynolds Holding

JUNE 8, 2022

Last year, during the meme stock events, that share swelled to a peak of 47 percent. [2] In a recent report about last year’s meme stock events, the SEC staff described four areas to consider in the interest of promoting our three-part mission in the equity markets overall. In 2009, off-exchange trading accounted for a quarter of U.S.

Marketability 45

Marketability Equity Technology Finance 45

Chris Mercer

FEBRUARY 14, 2024

Mercer’s Musings #1 addressed the topic of compliance with USPAP and the Internal Revenue Service. This second musing addresses the use of restricted stock studies to support marketability discounts in gift and estate tax appraisals prepared for the Internal Revenue Service (or for anyone, for that matter).

Marketability 52

Marketability Dividends Appraisal Business Valuation 52

Reynolds Holding

MAY 18, 2022

In recent years, we’ve seen as much — whether the market events of March 2020, the meme stock-related volatility in early 2021, the speculative crypto markets, the boom of special purpose acquisition companies (SPACs), or the collapse of Archegos Capital Management, which we recently charged with fraud and market manipulation.

Marketability 59

Marketability Finance Corporate Finance Technology 59

Reynolds Holding

JANUARY 31, 2024

The better-reasoned opinions discount allegations where they lack independent corroboration or verification citing a short-seller’s motivation to drive down the target’s stock price. Two recent Ninth Circuit decisions have brought this topic into sharper view. 12] In January 2023, in In re: DraftKings Inc., ” See id.

Start-ups 45

Start-ups Technology Marketability Banking 45

Musings on Markets

DECEMBER 15, 2021

Second, I learned there is some learning that is better delivered online, than in a physical setting, and I believe that there are some topics that I will continue to deliver online, even after this virus passes on. The place to start is with accounting.

Corporate Finance 56

Corporate Finance Finance Start-ups Technology 56

Reynolds Holding

MARCH 24, 2024

13] We did so in 1980 when the agency adopted Management’s Discussion and Analysis sections in Form 10-K. [14] 14] We did it again in the 1990s when we required disclosure about executive stock compensation [15] and in 1997 regarding market risk. [16] 12] We did so in the 1970s regarding disclosure related to environmental risks. [13]

Marketability 45

Marketability Market Risk Compliance Start-ups 45

Reynolds Holding

APRIL 9, 2024

The court’s opinion in In re Yellow Corporation illustrates a willingness for the bankruptcy court to apply a thoughtful case-by-case analysis in considering whether to keep a dispute even where a competing federal statute mandating arbitration exists. The largest holder of publicly traded stock of Yellow Corp., Lewis , 584 U.S.

Equity 45

Equity 45

Musings on Markets

JUNE 9, 2021

In fact, “blank check” companies had a brief boom in the late 1980s, before regulation restricted their use, largely in response to their abuse, especially in the context of "pump and dump" schemes related to penny stocks. There are two benefits that SPACs derive, as a consequence.

Start-ups 52

Start-ups Marketability Banking Corporate Finance 52