This appendix presents the results of a survey of experienced corporate finance practitioners in the UK and Ireland conducted in May and June 1998. Questionnaires were sent to 452 corporate finance directors at 71 banks, stock brokers, venture capitalists and accountancy firms listed in Crawford’s Directory. A total of 113 usable responses were returned from 41 different firms by the 14 July 1998 cut-off date. This represents a response rate of 25.0% of individuals and 57.7% of firms surveyed.
Although the survey was conducted a number of years ago, its results continue to be broadly valid, with the possible exceptions of the current perceived equity risk premium and the usage of the Internet to research companies.
Scoring and tables
Most questions required a response regarding the frequency of use of a method or source of information. The scale used is as follows:
The tables in this report contain the mean score, standard deviation and the percentage of each respondent selecting 1, 2, 3, 4 or 5. Percentages may not add to 100% because of rounding and, in some cases, multiple responses.


There are two main approaches to determining the value of a company:
• relative valuation techniques; and
• determination of intrinsic or ‘true’ value.
UK corporate finance professionals use relative valuation techniques ...

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