Business Valuation
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| Does Firm Size Matter? |
CPE Credit
Program Type: VideoCast (Audio,Video, PPT)
Program Level: Basic
Prerequisites: Previous training or experience with the fundamentals of accounting, finance, economics, and business writing.
Advanced Preparation: None
Delivery Method: Group Internet-Based
CPE Credits: Two (2) Hours
Fields of Study: Accounting |
Item
Number: 11OBVVC4359
Shipping Weight: 0lbs. 0oz. |
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$110.00 |
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Program Description
The "size effect" is the observation that smaller firms tend to have higher returns than larger firms. The main theory to explain this is that smaller firms are systematically more risky, and market forces cause stock prices to adjust resulting in higher returns for investors. However, the empirical data regarding whether the "size effect" even exists is mixed.
Highlights of this webinar include: the size effect is complex phenomena and not universally accepted by academic researchers; the size premium of small firms seems to include elements of lack of marketability; the size premium has disappeared at times; the size effect is not linear, so size premiums derived from public firms need to be applied with care; size may not be the source of risk, but a proxy for risk.
Learning Objectives
After completing this webinar, attendees will be able to:
- Define and describe the size effect theory
- Identify the complex aspects of the size effect phenomena
Who Should Attend
Financial professionals looking to expand their knowledge of the size effect theory
Presenter(s)
Michael Crain, CPA, ABV, ASA, CFA, CFE, PhD
Dr. Michael A. Crain is a principal of The Financial Valuation Group of Ft. Lauderdale, Inc. Dr. Crain received his Doctor of Business Administration (finance) degree from Manchester Business School, University of Manchester, England. He also has MBA and BA in Accounting degrees from Bellarmine University in Louisville, Kentucky.
He previously worked in the auditing and consulting areas in public accounting firms including an international firm where he was a senior manager. Dr. Crain has served as a consulting and testifying expert in many commercial cases working for both plaintiffs and defendants in state and Federal courts. He has also served as an arbitrator in commercial damages and minority shareholder cases and as a court-appointed accountant. Moreover, he has also served as a special investigator on behalf of the county attorney and board of county commissioners for a Florida county government to investigate their county manager. |
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