{"id":"https://openalex.org/W2018263058","doi":"https://doi.org/10.3905/jpe.2006.667557","title":"Issues in Valuation of Privately Held Firms","display_name":"Issues in Valuation of Privately Held Firms","publication_year":2006,"publication_date":"2006-11-30","ids":{"openalex":"https://openalex.org/W2018263058","doi":"https://doi.org/10.3905/jpe.2006.667557","mag":"2018263058"},"language":"en","primary_location":{"id":"doi:10.3905/jpe.2006.667557","doi":"https://doi.org/10.3905/jpe.2006.667557","is_oa":false,"landing_page_url":"https://doi.org/10.3905/jpe.2006.667557","pdf_url":null,"source":{"id":"https://openalex.org/S174966194","display_name":"The Journal of Private Equity","issn_l":"1096-5572","issn":["1096-5572","2168-8508"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","anvur-scientific","cwts-core","jufo-1","norway-1","poland-20","vabb-shw"],"host_organization":"https://openalex.org/P4310320662","host_organization_name":"Euromoney Institutional Investor","host_organization_lineage":["https://openalex.org/P4310320662"],"host_organization_lineage_names":["Euromoney Institutional Investor"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Private Equity","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5045954847","display_name":"Christian Vriborg Petersen","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I180519160","display_name":"Copenhagen Business School","ror":"https://ror.org/04sppb023","country_code":"DK","type":"education","lineage":["https://openalex.org/I180519160"]}],"countries":["DK"],"is_corresponding":false,"raw_author_name":"Christian Petersen","raw_affiliation_strings":["An associate professor at Copenhagen Business School in Frederiksberg, Denmark. cp.acc@cbs.dk"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"An associate professor at Copenhagen Business School in Frederiksberg, Denmark. cp.acc@cbs.dk","institution_ids":["https://openalex.org/I180519160"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5022018989","display_name":"Thomas Plenborg","orcid":"https://orcid.org/0000-0003-4431-7563","observed_orcids":["https://orcid.org/0000-0003-4431-7563"]},"institutions":[{"id":"https://openalex.org/I180519160","display_name":"Copenhagen Business School","ror":"https://ror.org/04sppb023","country_code":"DK","type":"education","lineage":["https://openalex.org/I180519160"]}],"countries":["DK"],"is_corresponding":false,"raw_author_name":"Thomas Plenborg","raw_affiliation_strings":["Professor at Copenhagen Business School in Frederiksberg, Denmark. tp.acc@cbs.dk"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Professor at Copenhagen Business School in Frederiksberg, Denmark. tp.acc@cbs.dk","institution_ids":["https://openalex.org/I180519160"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5042718561","display_name":"Finn Sch\u00f8ler","orcid":"https://orcid.org/0000-0001-5075-874X","observed_orcids":["https://orcid.org/0000-0001-5075-874X"]},"institutions":[{"id":"https://openalex.org/I204337017","display_name":"Aarhus University","ror":"https://ror.org/01aj84f44","country_code":"DK","type":"education","lineage":["https://openalex.org/I204337017"]}],"countries":["DK"],"is_corresponding":false,"raw_author_name":"Finn Scholer","raw_affiliation_strings":["An assistant professor at Aarhus School of Business in Aarhus, Denmark. fsc@asb.dk"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"An assistant professor at Aarhus School of Business in Aarhus, Denmark. fsc@asb.dk","institution_ids":["https://openalex.org/I204337017"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":5.5233,"has_fulltext":false,"cited_by_count":33,"citation_normalized_percentile":{"value":0.95811819,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"10","issue":"1","first_page":"33","last_page":"48"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T12675","display_name":"Financial Reporting and Valuation Research","score":0.9843999743461609,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T12675","display_name":"Financial Reporting and Valuation Research","score":0.9843999743461609,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11903","display_name":"Private Equity and Venture Capital","score":0.010999999940395355,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.002400000113993883,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/private-enterprises","display_name":"private enterprises","score":0.7329999804496765},{"id":"https://openalex.org/keywords/firm-valuation","display_name":"business valuation","score":0.734000027179718},{"id":"https://openalex.org/keywords/private-equity-investors","display_name":"private equity investors","score":0.6690000295639038},{"id":"https://openalex.org/keywords/marketability-discount","display_name":"marketability discount","score":0.953000009059906},{"id":"https://openalex.org/keywords/control-premium","display_name":"control premium","score":0.9990000128746033},{"id":"https://openalex.org/keywords/beta-estimation","display_name":"beta estimation","score":0.578000009059906}],"concepts":[{"id":"https://openalex.org/C186027771","wikidata":"https://www.wikidata.org/wiki/Q4008379","display_name":"Valuation (finance)","level":2,"score":0.8608590960502625},{"id":"https://openalex.org/C2776548248","wikidata":"https://www.wikidata.org/wiki/Q12621536","display_name":"Judgement","level":2,"score":0.7864617705345154},{"id":"https://openalex.org/C2781129745","wikidata":"https://www.wikidata.org/wiki/Q1322967","display_name":"Business valuation","level":3,"score":0.5999453067779541},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.5541676878929138},{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.5293432474136353},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.49762943387031555},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.44378402829170227},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.42914992570877075},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.333329439163208},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.3905/jpe.2006.667557","doi":"https://doi.org/10.3905/jpe.2006.667557","is_oa":false,"landing_page_url":"https://doi.org/10.3905/jpe.2006.667557","pdf_url":null,"source":{"id":"https://openalex.org/S174966194","display_name":"The Journal of Private Equity","issn_l":"1096-5572","issn":["1096-5572","2168-8508"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","anvur-scientific","cwts-core","jufo-1","norway-1","poland-20","vabb-shw"],"host_organization":"https://openalex.org/P4310320662","host_organization_name":"Euromoney Institutional Investor","host_organization_lineage":["https://openalex.org/P4310320662"],"host_organization_lineage_names":["Euromoney Institutional Investor"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Journal of Private Equity","raw_type":"journal-article"},{"id":"pmh:oai:research-api.cbs.dk:openaire_cris_publications/dba44c50-f8ad-11db-9160-000ea68e967b","doi":null,"is_oa":false,"landing_page_url":"https://research.cbs.dk/en/publications/dba44c50-f8ad-11db-9160-000ea68e967b","pdf_url":null,"source":{"id":"https://openalex.org/S4306401458","display_name":"CBS Research Portal (Copenhagen Business School)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I180519160","host_organization_name":"Copenhagen Business School","host_organization_lineage":["https://openalex.org/I180519160"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Petersen, C V, Plenborg, T & Sch\u00f8ler, F 2006, 'Issues in Valuation of Privately Held Firms', Journal of Private Equity, vol. 10, no. 1, pp. 33-48. https://doi.org/10.3905/jpe.2006.667557","raw_type":"info:eu-repo/semantics/article"},{"id":"pmh:oai:pure.atira.dk:publications/a66038c0-a6ef-11db-8fe0-000ea68e967b","doi":null,"is_oa":false,"landing_page_url":"https://pure.au.dk/portal/en/publications/a66038c0-a6ef-11db-8fe0-000ea68e967b","pdf_url":null,"source":null,"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Petersen, C, Plenborg, T & Sch\u00f8ler, F 2006, 'Issues in Valuation of Privately Held Firms', Journal of Private Equity, vol. 10, no. 1, pp. 33-48.","raw_type":"info:eu-repo/semantics/article"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"score":0.5,"display_name":"Partnerships for the goals","id":"https://metadata.un.org/sdg/17"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":29,"referenced_works":["https://openalex.org/W1506562327","https://openalex.org/W1519307659","https://openalex.org/W1546993880","https://openalex.org/W1550512639","https://openalex.org/W1888979646","https://openalex.org/W1965192780","https://openalex.org/W1980060145","https://openalex.org/W1983786772","https://openalex.org/W1994138163","https://openalex.org/W2004127855","https://openalex.org/W2011487370","https://openalex.org/W2013615519","https://openalex.org/W2022337976","https://openalex.org/W2025869908","https://openalex.org/W2032515699","https://openalex.org/W2046519558","https://openalex.org/W2047485150","https://openalex.org/W2086321729","https://openalex.org/W2090477211","https://openalex.org/W2165550388","https://openalex.org/W2167821110","https://openalex.org/W2170334491","https://openalex.org/W2287525430","https://openalex.org/W3121453935","https://openalex.org/W3122859634","https://openalex.org/W3123142049","https://openalex.org/W3124340050","https://openalex.org/W3125205582","https://openalex.org/W4242398890"],"related_works":["https://openalex.org/W4245897760","https://openalex.org/W1987596460","https://openalex.org/W3023340916","https://openalex.org/W2180803170","https://openalex.org/W3169090528","https://openalex.org/W7015989198","https://openalex.org/W6898878457","https://openalex.org/W4386038727","https://openalex.org/W1994366555","https://openalex.org/W349987995"],"abstract_inverted_index":{"We":[0,18],"examine":[1],"how":[2],"Danish":[3],"investors":[4,26],"and":[5,23,103,135],"corporate":[6,21],"financial":[7],"advisers":[8,22],"apply":[9,28,65],"present":[10,29,67],"value":[11,30,68],"approaches":[12,31,69],"in":[13,53,119],"valuing":[14],"privately":[15,37,78],"held":[16,38,79],"companies.":[17],"interview":[19],"39":[20],"private":[24],"equity":[25],"who":[27],"as":[32],"a":[33,82],"valuation":[34,55,76],"tool":[35],"for":[36],"firms.":[39],"Our":[40,71],"findings":[41,59],"indicate":[42,61],"that":[43,62,75,116,128],"many":[44],"of":[45,77,85],"the":[46,50,54,58,66,89,100,110,117],"participants":[47,114],"comply":[48],"with":[49],"recommendations":[51],"outlined":[52],"literature.":[56],"However,":[57],"also":[60,73],"some":[63,120,126],"practitioners":[64],"incorrectly.":[70],"research":[72],"confirms":[74],"firms":[80],"involves":[81],"great":[83],"deal":[84],"judgement,":[86],"especially":[87],"if":[88],"literature":[90,118],"does":[91],"not":[92],"provide":[93],"clear":[94],"cut":[95],"answers.":[96],"For":[97,124],"example,":[98,125],"estimating":[99],"marketability":[101],"discount":[102],"control":[104],"premium":[105],"often":[106],"involve":[107],"guesstimate":[108],"among":[109],"participants.":[111],"Further,":[112],"several":[113],"argue":[115,127],"cases":[121],"is":[122],"inadequate.":[123],"beta":[129],"estimates":[130],"from":[131],"peers":[132],"are":[133],"imprecise":[134],"contain":[136],"severe":[137],"measurement":[138],"problems.":[139],"TOPICS:Private":[140],"equity,":[141],"performance":[142],"measurement,":[143],"statistical":[144],"methods,":[145],"developed":[146]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":2},{"year":2022,"cited_by_count":4},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":2},{"year":2019,"cited_by_count":1},{"year":2018,"cited_by_count":1},{"year":2017,"cited_by_count":1},{"year":2016,"cited_by_count":1},{"year":2015,"cited_by_count":4},{"year":2012,"cited_by_count":3}],"updated_date":"2026-10-14T16:39:01.820549","created_date":"2016-06-24T00:00:00"}