Valuation of Closely-Held Firms: Another Look

William P. Dukes and Oswald D. Bowlin
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William P. Dukes: Texas Tech University
Oswald D. Bowlin: Texas Tech University

Journal of Entrepreneurial Finance, 1993, vol. 2, issue 3, 189-202

Abstract: For the most part, closely-held firms must be valued using proxies for market data which are not available. Valuation approaches described in the literature are used by practitioners with exceptions demanded by circumstances. Results of the survey confirm statements of others that substantial discounts for non-marketability and minority interest are usually appropriate.

Keywords: Valuation; Closely-Held; Small Business (search for similar items in EconPapers)
JEL-codes: G32 (search for similar items in EconPapers)
Date: 1993
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