Private Discount Premium - Why Non Public Companies are Negotiated at Lower Relative Prices – Breno Pavao
Breno Pavao
Master's thesis
Private Discount Premium - Why Non Public Companies are Negotiated at Lower Relative Prices
Private Firm Valuation & The Liquidity Premium
Abstract:
The current study proposes a model based on CAPM and valuation multipliers to capture the risk for privately held companies with the information normally available for it. The main assumption is that the relative price differential between the average private and public company reflects all additional risk brought by the private market, this difference is then annualized through dividend discount model …moreAbstract:
The current study proposes a model based on CAPM and valuation multipliers to capture the risk for privately held companies with the information normally available for it. The main assumption is that the relative price differential between the average private and public company reflects all additional risk brought by the private market, this difference is then annualized through dividend discount model …more
Language used: English
Date on which the thesis was submitted / produced: 6. 11. 2019
Identifier:
http://www.vse.cz/vskp/eid/80859
Thesis defence
- Date of defence: 10. 6. 2020
- Supervisor: František Poborský
- Reader: Petr Horák
Citation record
ISO 690-compliant citation record:
PAVAO, Breno. \textit{Private Discount Premium - Why Non Public Companies are Negotiated at Lower Relative Prices}. Online. Master's thesis. Praha: University of Economics, Prague. 2019. Available from: https://theses.cz/id/htk4x8/.
Full text of thesis
Contents of on-line thesis archive
Published in Theses:- autentizovaným zaměstnancům ze stejné školy/fakulty
Other ways of accessing the text
Institution archiving the thesis and making it accessible: Vysoká škola ekonomická v Prazehttp://www.vse.cz/vskp/eid/80859
Vysoká škola ekonomická v Praze
Master programme:
Finance and Accounting