M. Mark Walker, PhD, CFA, CBA

Selected publications and speaking engagements

Journal Publications

Walker, M. Mark, “The Process Does Work,” Business Appraisal Practice, Third Quarter 2014, 3.

Walker, M. Mark, “Theory and Application of the Private Cost of Capital Model,” The Value Examiner,

January / February 2013, 12-17.

Walker, M. Mark, “Relevance, Reliability and the Butler-Pinkerton Model,” Valuation Strategies,

Vol. 15, No. 2, November / December 2011, 16-25.

Walker, M. Mark, “Examining the Court’s Rationale for Allowing Company-Specific Risk Premiums in

Dissenter’s Rights Cases,” National Litigation Consultants’ Review, Vol. 10, No. 2, October /

November 2010, 7-8.

Walker, M. Mark, “Evaluating the Butler-Pinkerton Model: Is It Better than the Buildup Method?,”

Business Appraisal Practice, Third Quarter 2010, 22-31.

Walker, M. Mark, “The Comparable Transaction Method, Fair Market Value, and Financial Theory,”

Valuation Strategies, Vol. 12, No. 4, March / April 2009, 4-11.

Walker, M. Mark, “Are the Public and Private Capital Markets Worlds Apart?” Business Appraisal

Practice, Winter 2007 / 2008, 8-20.

Walker, M. Mark and Chi-Sheng Hsu, “Strategic Objectives, Industry Structure, and the Long-Term

Stock Price Performance of Acquiring and Rival Firms.” Applied Financial Economics, Vol. 17,

No. 15, October 2007, 1233-1244.

Walker, M. Mark, “Studying Value / Valuing Study: Key Lessons from the Business Valuation

Literature.” Business Appraisal Practice, Winter 2006 / 2007, 31-39.

Walker, M. Mark and Bjoern A. Claassen, “What Drives Sell-Side Recommendation Announcement

Returns?”, Financial Services Review, Vol. 15, No. 4, Winter 2006, 315-333.

Walker, M. Mark, “Using Acquisition Premiums to Estimate the Value of Control: What is the

Importance of Synergy and Relative Firm Size?” Business Appraisal Practice, Summer / Fall 2005,

5-14.

Walker, M. Mark, “Explaining the Single-Period Capitalization Model: A Special Case of the Discounted

Cash Flow Model.” Business Appraisal Practice, Winter 2004 / 2005, 35-41.

Walker, M. Mark, "Corporate Takeovers, Strategic Objectives and Acquiring-Firm Shareholder Wealth."

Financial Management, Vol. 29, No. 1, Spring 2000, 53-66.

Walker, M. Mark, "Leveraged Recapitalizations, Operating Efficiency and Stockholder Wealth."

Financial Review, Vol. 33, No. 3, August 1998, 99-114.

Walker, M. Mark and Bryn R. Vaaler, "Negotiating Value / Valuing Negotiation: A Joint Case Study for

Business and Law Students." Journal of Financial Education, Vol. 22, Spring 1996, 101-107.

Walker, M. Mark, "On the Shareholder Wealth Maximization Objective of Corporate Governance: The

Case of Leveraged Recapitalizations." Managerial Finance, Vol. 22, No. 4, 1996, 53-70.

Other Publications

Thompson, Thomas, and M. Mark Walker, “M&A Deal Flow in the Post-Recessionary Period.”

Executive report published by the Financial Executives Research Foundation, Inc., 2010, 1-16.

Webcast sponsored by Merrill DataSite and the FERF, June 24, 2010.

Thompson, Thomas, and M. Mark Walker, “M&A Plans and Other Strategic Growth Initiatives: Business

Management Reality for the New Economic Reality.” Executive report published by the Financial

Executives Research Foundation, Inc., 2009, 1-34. Webcast sponsored by Merrill DataSite and FERF,

May 27, 2009.

Business Valuation Speaking Engagements

“Corporate Income Taxes: Fact or Fiction?”, presented at the SECBA Business Valuation Conference,

Atlanta, GA, September 25, 2015.

“Linking the Market Approach to the Income Approach,” presented at the National Association of Certified

Valuators and Analysts (NACVA) Business Valuation Conference, Pittsburgh, PA, September 15, 2015.

Also served on a discussion panel, “Conversations with the Masters,” with Dr. Ashok Abbott, Robert

Grossman, Jim Hitchner, and Robert Reilly.

“Linking the Market Approach to the Income Approach,” presented at the 2015 Annual Consultants’

Conference, New Orleans, LA, June 26, 2015. Also served on a discussion panel, “Conversations with

the Masters,” with Frank Rosillo, Kevin Zanni, and Sean Saari.

“Cost of Capital: How has it Changed?” Panel discussion with Ronald D. Rudich and Barry A.

Baker (Moderator: Brandi Ruffalo) at the SECBA Business Valuation Conference, Atlanta, GA,

September 20, 2014.

“Relevance, Reliability and the Company-Specific Risk Premium,” presented at the 2012 Annual

Consultants’ Conference, Dallas, TX, June 21, 2012. Dr. Walker received the Dr. Rosemarie

O. “RO” Smith Academic Research Grant Award.

“Evaluating the Butler-Pinkerton Model: Is It Better than the Buildup Method?”, presented at the

SECIBA Business Valuation Conference, Atlanta, GA, October 2, 2010.

“Estimating Value with the Comparable Transaction Method: A Simulation Study,” presented at the

SECIBA Business Valuation Conference, Atlanta, GA, September 26, 2008.

“An Overview of Financial Contracting in the Public and Private Capital Markets,” presented at the

SECIBA Business Valuation Conference, Atlanta, GA, September 28, 2007.

“Buying, Selling, or Expanding a Business,” presented at the Association of Consulting Foresters

Conference, Biloxi, MS, February 22, 2007.

“Studying Value / Valuing Study: Key Lessons from the Business Valuation Literature,” presented at the

SECIBA Business Valuation Conference, Atlanta, GA, September 16, 2006.

“Using Acquisition Premiums to Estimate the Value of Control: What is the Importance of Synergy and

Relative Firm Size?,” presented at the SECIBA Business Valuation Conference, Atlanta, GA,

September 18, 2004.