Why Publish?
Highland Global strives to actively participate in the strategic advisory and financial analysis professions by conducting research and writing articles on pertinent topics in our field. Our publications are indicative of our dedication to furthering our profession through proactive approaches to current issues and trends.In addition, Mr. Clinger has written two books on business valuation. Our published articles, books, case studies, and interviews reflect our desire to contribute to the valuation body of knowledge for other valuation practitioners and professionals, academics, and clients.
Featured Articles | Publications | Case Studies | Family Limited Partnerships | State of the Economy | Books | Audio
Featured Articles
How To Value A Business
Business valuation often looks like a ?black box? to those not involved in the profession of valuing companies. Entrepreneurs often ask, how do you value a business? Go to Article
Business valuation often looks like a ?black box? to those not involved in the profession of valuing companies. Entrepreneurs often ask, how do you value a business? Go to Article
Measuring Value
Buyers and sellers have different perspectives regarding the value of a business. Therefore, it is important for both parties to understand the difference between fair market value and strategic value and how these values are a crucial factor in negotiations. Go to Article
Buyers and sellers have different perspectives regarding the value of a business. Therefore, it is important for both parties to understand the difference between fair market value and strategic value and how these values are a crucial factor in negotiations. Go to Article
Valuation Issues: Brokers vs. Appraisers
Business brokers and business appraisers use different methods of valuing a business for a transaction. The incorrect application of a broker's methodology may result in unrealistic value estimates that may jeopardize a transaction's success. Go to Article
Business brokers and business appraisers use different methods of valuing a business for a transaction. The incorrect application of a broker's methodology may result in unrealistic value estimates that may jeopardize a transaction's success. Go to Article
Earnings Assumptions: Common Errors
Business appraisers are confronted with many challenges in developing earnings forecasts. The most common errors in making earnings assumptions fall into two categories discussed in this article. Go to Article
Business appraisers are confronted with many challenges in developing earnings forecasts. The most common errors in making earnings assumptions fall into two categories discussed in this article. Go to Article
Publications
Featured Articles | Publications | Case Studies | Family Limited Partnerships | State of the Economy | Books | Audio
7 Deadly Sins of Startups from a Valuation Perspective
With unemployment high and good job opportunities scarce, many displaced workers are taking the entrepreneurial route and starting their own businesses. Go to Article
With unemployment high and good job opportunities scarce, many displaced workers are taking the entrepreneurial route and starting their own businesses. Go to Article
Financial Leverage & WACC
Leverage is a powerful tool in maximizing shareholder return. However, overleveraged firms may artificially inflate the value of the firm. This paper discusses our views on financial leverage and its impact upon the weighted average cost of capital. Go to Article
Leverage is a powerful tool in maximizing shareholder return. However, overleveraged firms may artificially inflate the value of the firm. This paper discusses our views on financial leverage and its impact upon the weighted average cost of capital. Go to Article
The 7 Deadly Sins of Selling a Business
Successfully selling a privately-held business may be challenging without professional representation and advisors. This article discusses the seven sins that may result in failure to sell a business. Go to Article
Successfully selling a privately-held business may be challenging without professional representation and advisors. This article discusses the seven sins that may result in failure to sell a business. Go to Article
Selling Your Company
Given the tremendous financial, labor, and time investments that owners make in their businesses, it is critical that the owner take time to develop a strategy for achieving personal liquidity through the merger, sale, or recapitalization of their company. Go to Article
Given the tremendous financial, labor, and time investments that owners make in their businesses, it is critical that the owner take time to develop a strategy for achieving personal liquidity through the merger, sale, or recapitalization of their company. Go to Article
Preparing Your Company for Sale
To be successful in achieving maximum personal liquidity through a transaction, privately-held business owners should understand the many steps necessary to prepare their company for sale. This article provides a brief discussion of these steps. Go to Article
To be successful in achieving maximum personal liquidity through a transaction, privately-held business owners should understand the many steps necessary to prepare their company for sale. This article provides a brief discussion of these steps. Go to Article
Specific Company Risk Premium
One of the most difficult tasks of a business appraiser is determining the privately-held company's appropriate discount rate. To do so the appraiser must estimate the company?s specific risk premium. This paper discusses our views on the specific company risk premium in business valuations. Go to Article
One of the most difficult tasks of a business appraiser is determining the privately-held company's appropriate discount rate. To do so the appraiser must estimate the company?s specific risk premium. This paper discusses our views on the specific company risk premium in business valuations. Go to Article
Minority and Marketability Discounts
Valuation discounts applied to family limited partnership interests have long been a point of contention between taxpayers, their advisors, and the IRS. Go to Article
Valuation discounts applied to family limited partnership interests have long been a point of contention between taxpayers, their advisors, and the IRS. Go to Article
Top Ten Business Valuation Questions that Attorneys Ask Business Appraisers
Business appraisers frequently serve as valuation experts for attorneys and their clients in legal matters ranging from litigation, marital dissolution, mergers and acquisitions, etc. The top ten questions of value that attorneys often ask business appraisers have been compiled in this article. Go to Article
Business appraisers frequently serve as valuation experts for attorneys and their clients in legal matters ranging from litigation, marital dissolution, mergers and acquisitions, etc. The top ten questions of value that attorneys often ask business appraisers have been compiled in this article. Go to Article
Direct Market Data Method: Value Disparity Issues
Although the Direct Market Data Method is an intuitive approach to value a privately held business, an appraiser is confronted with the challenge of how to address the disparity between value indications produced under the DMDM, the multi-period discounted earnings method, and the single period capitalization method. PART I PART II
Although the Direct Market Data Method is an intuitive approach to value a privately held business, an appraiser is confronted with the challenge of how to address the disparity between value indications produced under the DMDM, the multi-period discounted earnings method, and the single period capitalization method. PART I PART II
Responses Direct Market Data Method: Value Disparity Issues
The Value Examiner Letters to the Editor January 2007 The Value Examiner Letters to the Editor October 2006
The Value Examiner Letters to the Editor January 2007 The Value Examiner Letters to the Editor October 2006
Top Ten Questions of Value
Business appraisers are typically asked some of the same questions repeatedly by clients and their advisors. The top ten questions of value have been compiled in an effort to address some of the most frequent concerns business owners and their advisors may have regarding a valuation report. Go to Article
Business appraisers are typically asked some of the same questions repeatedly by clients and their advisors. The top ten questions of value have been compiled in an effort to address some of the most frequent concerns business owners and their advisors may have regarding a valuation report. Go to Article
Case Studies
Featured Articles | Publications | Case Studies | Family Limited Partnerships | State of the Economy | Books | Audio
Global Communications
Wealth creation versus wealth destruction should be regularly monitored in the transgenerational family business. Go to Case
Wealth creation versus wealth destruction should be regularly monitored in the transgenerational family business. Go to Case
Isis Rental Management
An ESOP is an alternative for company owners seeking liquidity. A competent valuation is a key element of the ESOP process. Go to Case
An ESOP is an alternative for company owners seeking liquidity. A competent valuation is a key element of the ESOP process. Go to Case
JNC Shipping Corporation
Strong Corporate Governance and communication are important for creating and maintaining value in a family-controlled enterprise. Go to Case
Strong Corporate Governance and communication are important for creating and maintaining value in a family-controlled enterprise. Go to Case
Morpheus Aerospace
"Demand capital" versus "patient capital" is an important factor in the investment decisions of family and closely held companies. Go to Case
"Demand capital" versus "patient capital" is an important factor in the investment decisions of family and closely held companies. Go to Case
Patriot Industries
Company value should be revisited regularly and underperforming assets should be improved or divested. Go to Case
Company value should be revisited regularly and underperforming assets should be improved or divested. Go to Case
The Canteen
A valuation sometimes identifies underperforming operations, thus alerting the prospective acquirer to potential issues to be addressed. Go to Case
A valuation sometimes identifies underperforming operations, thus alerting the prospective acquirer to potential issues to be addressed. Go to Case
The Flower Shoppe
A valuation before the transaction would have highlighted large non-recurring revenues, thus averting the crisis that ensued after the acquisition. Go to Case
A valuation before the transaction would have highlighted large non-recurring revenues, thus averting the crisis that ensued after the acquisition. Go to Case
Triumvirate Industries
Companies that excel at the seven attributes of businesses that have created transgenerational wealth are in a better position to create value for their shareholders. Go to Case
Companies that excel at the seven attributes of businesses that have created transgenerational wealth are in a better position to create value for their shareholders. Go to Case
Whitehall Textiles Group
Though it is sad, if wealth creation is not monitored regularly, a company can slide quietly into value destruction mode, ultimately leading to Chapter 7 bankruptcy liquidation. Go to Case
Though it is sad, if wealth creation is not monitored regularly, a company can slide quietly into value destruction mode, ultimately leading to Chapter 7 bankruptcy liquidation. Go to Case
Family Limited Partnerships: Discount Statistics of Closed-end Funds
Featured Articles | Publications | Case Studies | Family Limited Partnerships | State of the Economy | Books | AudioSelecting an appropriate discount applicable to minority interests in family limited partnerships is a challenge for financial analysts and business appraisers. The assumptions that the analyst makes are particularly important and may come under intense scrutiny should the valuation be challenged by the IRS or the Tax Courts.
State of the Economy
Featured Articles | Publications | Case Studies | Family Limited Partnerships | State of the Economy | Books | AudioHighland Global continually monitors the state of the domestic economy as part of our approach to corporate growth and business appraisal services. Our most recent assessment of the economy is provided in the following article.
Books
Featured Articles | Publications | Case Studies | Family Limited Partnerships | State of the Economy | Books | Audio
7 Deadly Sins of Business Valuation: Closely Held & Family Controlled Companies
Go to Executive Summary
Purchase 7 Deadly Sins of Business Valuation: Closely Held & Family Controlled Companies E-Book in PDF format (139 pages). $27.95 no shipping cost - provide your email address.
Go to Executive Summary
Purchase 7 Deadly Sins of Business Valuation: Closely Held & Family Controlled Companies E-Book in PDF format (139 pages). $27.95 no shipping cost - provide your email address.
7 Deadly Sins of Business Valuation
Go to Executive Summary
Purchase 7 Deadly Sins of Business Valuation E-Book in PDF format (86 pages). $21.95 no shipping cost - provide your email address.
Go to Executive Summary
Purchase 7 Deadly Sins of Business Valuation E-Book in PDF format (86 pages). $21.95 no shipping cost - provide your email address.
Audio
Featured Articles | Publications | Case Studies | Family Limited Partnerships | State of the Economy | Books | AudioAll audio is in mp3 format.