Abstract

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.

Recommended Citation

Sack Elmaleh, Michael (2008) "Owner Employee Compensation is Not Free Cash Flow," Journal of Business Valuation and Economic Loss Analysis: Vol. 3 : Iss. 1, Article 8.
DOI: 10.2202/1932-9156.1043
Available at: http://www.bepress.com/jbvela/vol3/iss1/art8