Perspectives - April 2023

Editors for this issue: Charles A. Wilhoite, managing director and Scott R. Miller, managing director, of our Portland office.

Incorporating ESG Performance in Equity Valuations

Nathan M. Hesch

Environmental, social, and governance (“ESG”) investments have seen significant growth over the past two decades. Research has suggested that ESG status has important implications for equity valuations. In this article, we examine several studies that provide the building blocks for analysts who might consider incorporating ESG factors into an equity valuation.

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Key Considerations Regarding the Valuation of “Small” Businesses

John H. Sanders Jr. and Dakota K. Ask

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The Tax Benefits and Challenges of Allocating Total Business Goodwill to Personal Goodwill in a Transaction

Lisa H. Tran

In transferring assets from one enterprise to another, it may be important to distinguish between personal goodwill and entity goodwill for tax reasons. This article notes how closely-held-business owners can realize significant tax savings if they can allocate portions of the total transferred enterprise value between company-owned entity goodwill and individual shareholder or employee-owned personal goodwill.

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Perspectives & Insights