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Owner Employee Compensation is Not Free Cash Flow
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Michael Sack Elmaleh
Published/Copyright:
September 27, 2008
Owner employees require reasonable compensation for services provided to their companies. It is a major conceptual error to treat such compensation as free cash flow in the calculation of economic value.
Keywords: owner employee compensation; free cash flow
Published Online: 2008-9-27
©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
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Articles in the same Issue
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- Privatization and Financial Performance: Can Value Be Created by Privatizing State Owned Enterprises in the Middle East & North Africa (MENA) Region?
- Recoverable Damages for Wrongful Death in the States: A Decennial View
- Is The Mergerstat Control Premium Overstated?
- Quantifying Risk When Using the Income Approach
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- Post-Employment Covenants and Economic Losses
- Valuing Complex Stock Options Containing Reload Features
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