Since the Intelligence Co., Ltd. Case, stock price calculation based on regression analysis has been increasingly used to calculate stock purchase prices in matters involving the amount of compensation for damages incurred through false disclosure and the exercise of stock purchase rights. NERA continues to provide evaluation reports and written appraisal opinion on related lawsuits and cases. In the seminar, the co-authors of a paper discussing stock price calculation methods that was recently published in the magazine Shoji Homu (June 25 edition (No.2071)), entitled "Specific Methodologies For Regression Analysis (Market Model) Used In Determining Stock Acquisition Prices - Based On The Rex Case” made reference to their paper and used academic research and practical application in Japan and the U.S. to explain the basic concept of calculating stock prices using regression analysis, as well as the matters to take into consideration when examining analysis/calculation outcomes.
インテリジェンス事件以降、不実開示の損害賠償額や株式買取請求権行使に伴う株式買取価格の算定のために、回帰分析手法に基づく株価算定が行われることが増えました。NERAは、関連訴訟・事案に関わり評価レポートや鑑定意見書を継続的に提供し続けております。本セミナーでは、旬刊「商事法務」に先日掲載された株価算定手法の解説論文である「株式取得価格決定におけるマーケットモデルを用いた回帰分析の具体的な方法論 ―レックス事件を題材に―」(6月25日号(No. 2071))の共著者が、当該論文に沿って、回帰分析による株価算定の基本的な考え方、そして分析・算定結果を検討する上で考慮すべき事項について、学術研究および日米の実務を交え解説しました。