Measuring Business Interruption Losses and Other Commercial Damages - An Economic Approach

Informationen zum Autor DR. PATRICK A. GAUGHAN is President of Economatrix Research Associates, an economic and financial consulting firm specializing in the application of economics and finance to litigated matters. Dr. Gaughan provides various consulting services in the field of litigation economics and finance as well as mergers and acquisitions. He is often called upon to serve as an expert witness in lawsuits and other litigated matters. Klappentext Measure business interruption losses with confidenceYou hope for the best and plan for the worst. It's your job. But when the unimaginable happens, are you truly prepared for those business interruption losses?Measuring Business Interruption Losses and Other Commercial Damages is the only book in the field that explains the complicated process of measuring business interruption damages after you've been hit by the unexpected, whether the losses are from natural or man-made disasters, or whether the performance of one company adversely affects the performance of another.* Understand the methodology for how lost profits should be measured* Deal with the many common types of cases in business interruption lawsuits in commercial litigation* Take a look at exhibits, tables, and graphs* Benefit from updated data, case studies, and case law referencesDon't get caught off guard. Get ahead of planning for measuring your interruption losses before disaster strikes. Zusammenfassung Measure business interruption losses with confidenceYou hope for the best and plan for the worst. It's your job. But when the unimaginable happens, are you truly prepared for those business interruption losses?Measuring Business Interruption Losses and Other Commercial Damages is the only book in the field that explains the complicated process of measuring business interruption damages after you've been hit by the unexpected, whether the losses are from natural or man-made disasters, or whether the performance of one company adversely affects the performance of another.* Understand the methodology for how lost profits should be measured* Deal with the many common types of cases in business interruption lawsuits in commercial litigation* Take a look at exhibits, tables, and graphs* Benefit from updated data, case studies, and case law referencesDon't get caught off guard. Get ahead of planning for measuring your interruption losses before disaster strikes. Inhaltsverzeichnis Chapter 1 Introduction 1 Development of the Field of Litigation Economics 2 Development of the Field of Forensic Accounting 3 Qualifications of an Economic Expert 5 Qualifications of an Accounting Expert on Damages 8 Interdisciplinary Nature of Commercial Damages Analysis 8 Difference Between Disciplines of Economics and Finance 10 Finding a Damages Expert 11 Critically Reviewing a Potential Expert's Curriculum Vitae 12 Getting the Damages Expert on Board Early Enough 18 Courts' Position on Experts on Economic Damages 19 Standards for Admissibility of Expert Testimony 21 Exclusion of Experts 25 Trends in Daubert Challenges to Financial Experts 25 Expert Reports 28 Defense Expert as a Testifying Expert, Not Just a Consultant 33 Quantitative Research Evidence on the Benefits of Calling a Defense Expert 35 Treatment of the Relevant Case Law 36 Legal Damage Principles 36 Other Types of Damages Cases 42 Summary 46 References 46 Chapter 2 Economic Framework for the Lost Profits Estimation Process 51 Foundation for Damages Testimony 51 Role of Assumptions in Damages Analysis 52 Hearsay 53 Approaches to Proving Damages 55 Causality and Damages 59 Using Demonstrative Evidence to Help the Client Understand Its Losses or Lack of Losses 67 Causality and Loss of...

List of contents

Chapter 1 Introduction 1
 
Development of the Field of Litigation Economics 2
 
Development of the Field of Forensic Accounting 3
 
Qualifications of an Economic Expert 5
 
Qualifications of an Accounting Expert on Damages 8
 
Interdisciplinary Nature of Commercial Damages Analysis 8
 
Difference Between Disciplines of Economics and Finance 10
 
Finding a Damages Expert 11
 
Critically Reviewing a Potential Expert's Curriculum Vitae 12
 
Getting the Damages Expert on Board Early Enough 18
 
Courts' Position on Experts on Economic Damages 19
 
Standards for Admissibility of Expert Testimony 21
 
Exclusion of Experts 25
 
Trends in Daubert Challenges to Financial Experts 25
 
Expert Reports 28
 
Defense Expert as a Testifying Expert, Not Just a Consultant 33
 
Quantitative Research Evidence on the Benefits of Calling a Defense Expert 35
 
Treatment of the Relevant Case Law 36
 
Legal Damage Principles 36
 
Other Types of Damages Cases 42
 
Summary 46
 
References 46
 
Chapter 2 Economic Framework for the Lost Profits Estimation Process 51
 
Foundation for Damages Testimony 51
 
Role of Assumptions in Damages Analysis 52
 
Hearsay 53
 
Approaches to Proving Damages 55
 
Causality and Damages 59
 
Using Demonstrative Evidence to Help the Client Understand Its Losses or Lack of Losses 67
 
Causality and Loss of Customers 68
 
Graphical Sales Analysis and Causality 69
 
Causality and the Special Case of Damages Resulting from Adverse Publicity 71
 
Length of Loss Period: Business Interruption Case 72
 
Length of Loss Period: Plaintiff Goes Out of Business 77
 
Length of Loss Period: Breach of Contract 78
 
Methodological Framework 79
 
Summary 82
 
References 83
 
Chapter 3 Economic Analysis in Business Interruption Loss Analysis 85
 
Economic Fluctuations and the Volume of Litigation 85
 
Macroeconomic Analysis 86
 
Definition of a Recession 86
 
Measuring Economic Growth and Performance 87
 
Business Cycles and the Movement of GDP Components 90
 
Business Cycles and Economic Damages 95
 
Varying Responses to Business Cycles Across Industries 97
 
Using More Narrowly Defined Economic Aggregates 99
 
Quantifying the Strength of the Relationship Between Selected Economic Aggregates and Firm Performance 101
 
Implementing Inflationary Adjustments 104
 
Regional Economic Trends 108
 
Quality and Timeliness of Regional Economic Data 109
 
International Economic Analysis 111
 
Globalization of Supply and Demand 113
 
Summary 115
 
References 116
 
Chapter 4 Industry Analysis 119
 
Sources of Industry Data 119
 
North American Industry Classification System 125
 
Retaining an Industry Expert 132
 
Conducting an Industry Analysis 133
 
Relating Industry Growth to the Plaintiff's Growth 136
 
Other Industry Factors 138
 
Yardstick Approach and Industry Analysis 141
 
Summary 144
 
References 145
 
Chapter 5 Projecting Lost Revenues 147
 
Projections Versus Forecasts: Economic Versus Accounting Terminology 147
 
Using Graphical Analysis as an Aid in the Forecasting Process 148
 
Methods of Projecting Lost Revenues 153
 
Curve-Fitting Methods and Econometric Models 158
 
Understanding Regression Output and Diagnostics 161
 
Common Problems Affecting Regression Models 162
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Product details

• Authors: Pa Gaughan, Patrick A Gaughan, Patrick A. Gaughan, Patrick A. (Fairleigh Dickinson Universit Gaughan, Gaughan Patrick A.
• Publisher: Wiley, John and Sons Ltd
• Languages: English
• Product format: Hardback
• Released: 30.06.2020
• EAN: 9781119647911
• ISBN: 978-1-119-64791-1
• No. of pages: 544
• Subjects: Social sciences, law, business > Business > Business administration; Rechnungswesen, Bewertung, Accounting, Valuation, BUSINESS & ECONOMICS / Accounting/General, Business / Economics / Finance