Valuation of Closely-Held Firms: Another Look

Authors

William P. Dukes, Texas Tech University
Oswald D. Bowlin, Texas Tech University

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.

JEL Codes

G32

Keywords

Valuation, Closely-Held, Small Business

Recommended Citation

Dukes, William P. and Bowlin, Oswald D. (1993) "Valuation of Closely-Held Firms: Another Look," Journal of Small Business Finance: Vol. 2: Iss. 3, pp. 189-202.
DOI: https://doi.org/10.57229/2373-1761.1135
Available at: https://digitalcommons.pepperdine.edu/jef/vol2/iss3/1