... fair market value and investment value is portrayed in Exhibit 1- 1, which shows an investment value for two potential buyers The increase in investment value over the company’s fair market value ... 81 CHAPTER Valuation Approaches and Fundamentals Business Valuation Approaches Using the Invested Capital Model to Define the Investment Being Appraised Why Net Cash Flow Measures Value Most Accurately ... valuation of companies A must read!” Steven F Schroeder, JD, ASA, FIBA, MCBA Economic and Valuation Services Richard M Wise, FCA, FCBV, ASA, MCBA Wise, Blackman, CA Jay Fishman, ASA Principal...