The Private Company Discount

Market Discounts and Shareholder Gains for Placing Equity Privately

Michael G. Hertzel, Richard L. Smith · The Journal of Finance · 1993 · 668 citations

Business, Finance, Financial Management +14

Discounts on Restricted Stock: The Impact of Illiquidity on Stock Prices

William L. Silber · Financial Analysts Journal · 1991 · 318 citations

Business, Economics, Finance +17

THE MARKET PRICING OF CASH FLOW FORECASTS: DISCOUNTED CASH FLOW VS. THE METHOD OF “COMPARABLES”

Steven N. Kaplan, Richard S. Ruback · Journal of applied corporate finance · 1996 · 55 citations

Business, Economics, Finance +12