Patrick A. Gaughan

Measuring Business Interruption Losses and Other Commercial Damages (eBook, PDF)

An Economic Approach

• Format: PDF

Produktbeschreibung

Measure business interruption losses with confidence You 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 references Don't get caught off guard. Get ahead of planning for measuring your interruption losses before disaster strikes.

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Produktdetails

• Verlag: John Wiley & Sons
• Seitenzahl: 544
• Erscheinungstermin: 23. Juni 2020
• Englisch
• ISBN-13: 9781119648048
• Artikelnr.: 59752242

Autorenporträt

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.

Inhaltsangabe

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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