Duff & Phelps, A Kroll Business, regularly reviews fluctuations in global economic and financial conditions that warrant periodic reassessments of the equity risk premium (ERP), a key input used to calculate the cost of capital. In this issue of Valuation Insights, we discuss the rationale behind our recent change in the Duff & Phelps recommended U.S. ERP.
In our Technical Notes section, we showcase our 2020 U.S. Goodwill Impairment (GWI) Study that examines general and industry GWI trends of U.S. publicly traded companies through December 2019. We also feature an article on the Public Company Accounting Oversight Board’s new audit standard that highlights the need for registered investment advisers and boards of registered investment companies to reassess their fair value governance procedures.
In our International in Focus article, we take a closer look at the expected cessation of the London Interbank Offered Rate (LIBOR)-based suite of interest rates and how the extension of the effective date should be treated as an opportunity to further enhance transition plans.
Finally, our Spotlight article highlights key findings from the 2021 edition of Duff & Phelps’ Global Regulatory Outlook, which examines the current and future global regulatory landscape.
In every issue of Valuation Insights, you will find industry market multiples that are useful for benchmark valuation purposes.
Be sure to check out our library of CPE-eligible virtual events and webinars, where our valuation experts discuss issues and topics that may be impacting your business.
We hope that you will find this and future issues of the newsletter informative.
Duff & Phelps Recommended U.S. Equity Risk Premium Decreased as COVID-19 Impact Recedes
by James P. Harrington
Goodwill Impairments Spike Projected in 2020 Filings
by Greg Franceschi
Valuation Governance – How Does the PCAOB’s Recently Effective Fair Value Audit Standard Fit with the SEC’s New Fair Value Rule?
by David Larsen
The LIBOR Cessation Timeline Shift and What it Means for Market Participants
by Jennifer Press
The Future of Global Financial Regulation
North American Industry Market Multiples (As of December 31, 2020)
European Industry Market Multiples (As of December 31, 2020)
Valuation Insights – Greater China Edition 2021 Q2
by Patrick Wu