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Owner Employee Compensation is Not Free Cash Flow
Michael Sack Elmaleh
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Michael Sack Elmaleh: Columbia Union College
, 2008, vol. 3, issue 1, pages 8
Journal of Business Valuation and Economic Loss Analysis Abstract:
Owner employees require reasonable compensation for services provided to their companies. It is a major conceptual error to treat such compensation as free cash flow in the calculation of economic value.
Keywords: owner employee compensation; free cash flow (search for similar items in EconPapers)
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