Where to Find Industry Information
and Guideline Market Data
LISA DOBLE JOHNSON
Revenue Ruling 59-60 indicates that in performing a business valuation, the appraiser considers the national economy, the regional economy, the industry, and any publicly traded companies in the same or similar lines of business. Prior to recent advances in technology, which have yielded numerous CD-ROM information sources and Have resulted in the explosion in popularity and utility of the Internet, business valuation research required trips to the library to examine Standard & Poor's Business Record, Value Line, and the Standard & Poor's Stock Guide for information about publicly traded companies. The U.S. Industrial Outlook, published by the Department of Commerce, was an affordable addition to an appraiser's library because it contained good summaries of major industries. In addition, Standard & Poor's also offered industrial surveys in a little more detail, but its cost generally meant that this resource was best used at the library. Perusal of the periodicals and newspaper indices generally yielded other beneficial articles about a particular industry.
These sources remain available in printed form, but, today, an appraiser's time spent gathering industry and guideline company data can be reduced significantly using various electronic sources of data. The following sections review some of the major sources of information available to appraisers today.