Value and Marketability: determinants of the DLOM KU Leuven
Introduction
The summa divisio in the corporate landscape is the one between listed (public) and unlisted (private) companies. The recent past is clearly marked by a shift from public to private. From a financial (valuation) point of view, the main drawback associated with unlisted companies is the private company discount (also referred to as the discount for lack of marketability or the illiquidity ...