The Value of Corporate Control and the Comparable Company Method of Valuation
指出可比公司法未考虑公司控制权的价值，并提供了两种调整方法，通过51个高杠杆交易验证了调整后方法的有效性。
The comparable company method of valuation does not account for the value of corporate control. Therefore, the method must be adjusted if it is being used to value a company involved in a change-of-control transaction. We provide two alternative ways to adjust the comparable company method for the value of corporate control. The efficacy of the adjusted comparable company method is confirmed on 51 highly leveraged transactions (HLTs) from Kaplan and Ruback (1995).