TFL Vsebine / Revija SIR*IUS

Developments in control premiums in BV appraisal practice

Pri ocenjevanju vrednosti podjetij so pomembna sestavina ocenjevanja pribitki in odbitki za obvladovanje ter odbitki za pomanjkanje tržljivosti. Ti elementi so sestavni del slovenske ocenjevalske prakse, ugotavljamo pa, da se način njihove uporabe in viri, iz katerih se črpajo podlage za njihovo utemeljitev, ne razlikujejo bistveno od tistih, ki so bili predstavljeni leta 2002 v prispevku Bojana Praznika (Premije in diskonti pri ocenjevanju vrednosti podjetij) in temeljijo na tradicionalnem modelu treh ravni vrednosti. Prispevek obravnava samo pribitke za obvladovanje in prikazuje novosti v razvoju ocenjevalske prakse v tujini.

Control of discounts and premiums and lack of marketability discounts are integral parts of every business valuation and have been consistently used in Slovene appraisal practice (for the first time thoroughly presented in Bojan Praznik’s article in 2002). Despite the fact that since then appraisal practice has evolved considerably, Slovene appraisers mainly still use the same approaches (and sources of information) to define discounts and premiums as roughly 10 years ago. The sole purpose of this article is therefore to present current international developments in control premiums for BV appraisal practice and provide readers with fresh sources of information which can potentially be used in their appraisal assignments.