Squeeze-out and equitable value

Squeeze-out a spravedlivá hodnota

Pavel Kohoutek, Tomáš Podškubka and Jiří Hlaváč

Oceňování, 2018, vol. 11, issue 2, 3-20

Abstract: The article deals with the use of appropriate basis of value, especially for squeeze-out purposes. Recently, an equitable value base has emerged. The first part of the paper presents a summary of the ZNAL and OCE methodology, focusing on choosing the right base of value for squeeze-out purposes. According to the authors, such a base is the market value. For the squeeze-out purposes, the economic logic is not to eliminate the size premium and the lower liquidity premium when estimating a discount rate. Finally the article is dedicated to the first discussion of the possible use of an equitable value base. Approach to an equitable value base is not unambiguously closed in the Czech theory and practice. Yet, in practice, this base of value is misused. There is no clear procedure for estimating the equitable value and, in particular, it is not possible for the economic specialist to decide what is just. Justice should be decided by court.

Keywords: Equitable value; Squeeze-out; Market value; Spravedlivá hodnota; Tržní hodnota (search for similar items in EconPapers)
JEL-codes: G30 (search for similar items in EconPapers)
Date: 2018
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DOI: 10.18267/j.ocenovani.209

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