Michael J. Lavelle

Michael J. Lavelle, ASA, CFA

Managing Director (Shareholder) at Appraisal Economics Inc.

Professor of Finance (Adjunct) at The College of New Jersey

Author of Basic Finance Textbook, 13th Edition

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Valuation Expert, Professor, Author

Biography

Michael Lavelle is a Managing Director and shareholder of Appraisal Economics Inc., leading valuations of businesses, intangible assets, debt and equity securities, and derivatives.

I help clients understand the value of businesses and complex assets when the stakes are high. My work has been used for financial reporting, tax compliance, and transactions in the U.S. and internationally. I have been recognized as an expert witness by the United States Tax Court. I have given expert testimony in arbitration, at deposition, and at trial. My clients range from early-stage ventures to publicly traded companies, as well as high-net-worth individuals and state and federal government agencies.

Teaching is one of the most rewarding parts of my work. At The College of New Jersey, I teach finance, focusing on the time value of money, the relationship between risk and return, the valuation of stocks and bonds, financial and operating leverage, the cost of capital, and capital budgeting. I serve on the Dean's Advisory Council for the School of Business, and I serve as a judge for the annual Mayo Business Plan Competition, which has awarded nearly $1 million to student entrepreneurs since 2012.

I authored the 13th edition of Basic Finance: An Introduction to Financial Institutions, Investments, and Management. My mentor, Dr. Herbert B. ("Buddy") Mayo, a fellow TCNJ professor and generous philanthropist, wrote the first twelve editions, and I am honored to continue the work he began. I also co-authored a chapter on discount rates for intellectual property in Practical Guide to Successful Intellectual Property Valuation and Transactions.

Whether I am consulting with clients, training employees, teaching students, or writing academic and professional materials, I enjoy helping people understand value and make informed financial decisions.

EXPERIENCE

2006-Present

Managing Director (Shareholder)

Appraisal Economics - Independent Valuation Experts

2017-Present

Professor of Finance (Adjunct)

The College of New Jersey

PUBLICATIONS

Basic Finance

An Introduction to Financial Institutions, Investments, and Management

- Author, 13th Edition

- Published by Cengage

Basic Finance, 13th Edition book cover

Practical Guide to Successful Intellectual Property Valuation and Transactions

- Co-Author of Chapter 8:

Discount Rates and Rates of Return for Intellectual Property

- Published by Wolters Kluwer

Practical Guide to Successful Intellectual Property Valuation and Transactions book cover

CREDENTIALS

CFA Charterholder

- CFA Institute

CFA Charterholder digital credential

Accredited Senior Appraiser

- American Society of Appraisers

- Business Valuation

- Intangible Assets

American Society of Appraisers

MEMBERSHIPS

CFA Society New York

(Formerly New York Society of Security Analysts)

CFA Society New York

The Authors Guild

The Authors Guild

Textbook & Academic Authors Association

Textbook & Academic Authors Association

Estate Planning Council
of Northern New Jersey

Estate Planning Council of Northern New Jersey

PRESENTATIONS

American Institute of CPAs and Chartered Institute of Management Accountants

- "Getting the Fair Value Right in Business Combinations"

American Institute of CPAs and Chartered Institute of Management Accountants

Western States Association of Tax Administrators

- "Controversies in the Development and Application of Discount Rates"

Western States Association of Tax Administrators

American Society of Appraisers

- "Cap Rates for Complex Industrial and Renewable Energy Properties"

American Society of Appraisers

Association for Corporate Growth

- "M&A and Valuations in the Pandemic"

Association for Corporate Growth New Jersey

National Association of Personal Financial Advisors

- "Business Valuation, Exit Planning, and Current Market Dislocations"

National Association of Personal Financial Advisors

The College of New Jersey

- "COVID-19, the Economy, and Markets"

The College of New Jersey

EDUCATION

2012

Master of Business Administration

- With Distinction (Top 10%)

- Beta Gamma Sigma Honor Society

NYU Stern School of Business

2006

Bachelor of Science

- Full Academic Scholarship

- Edward J. Bloustein Distinguished Scholar

- Omicron Delta Epsilon Honor Society

The College of New Jersey

SERVICE

2018-Present

Dean's Advisory Council

- School of Business

The College of New Jersey

2015-Present

Mayo Business Plan Competition

- Judge

The College of New Jersey

2014-2019

Board of Officers

- Northern NJ Chapter

- Secretary, Vice President, and President

American Society of Appraisers