Reviews by Academics

Dr. Carl Sheeler‘s book, Equity Value Enhancement: A Tool to Leverage Human and Financial Capital While Managing Risk  not only addresses how to measure/calculate the true value of a business, it also brings to the surface the key ingredients necessary for all professionals to succeed with their clients. The book is therefore relevant for all service providers--attorneys, accountants, valuation experts, etc.

Dr. Sheeler sends the message that being “right” is necessary but insufficient. Rather, being right and effective ought to be the professional's goal.  He explains that a professional's effectiveness comes from paying attention to the relationship part of the equation while providing his/her services.  He cites the value that a client receives when all the professionals servicing the client communicate with one another and work as an effective team. He also points out that the client’s ability to hear the professional's advice is directly correlated with the depth of rapport between the client and the professional.

The book is an excellent guide for addressing the complexity of the financial/quantitative analytical issues associated with valuation, but it does not ignore the reality that the work product is only relevant when it is "heard" and implemented/used by the client. 

 

Thomas D. David, Ed.D.
Thomas D. Davidow & Associates


Carl Sheeler's work is a fine contribution to the field of applied and practical economics, which at a certain basic level is to understand human behavior.  It succeeds because he simply makes sense.  This is no easy task, and it is no minor contribution.  Sheeler's work is important to advisors and clients alike, as it reminds us to focus on adding value and managing risk in pursuit of excellence by focusing on the relationships and practices that increase the probability of desired and desirable outcomes.  This is a book worth keeping off the shelf and on the nearby table to use as a practical guide and reminder of sustained best practices. 

Richard Levine, Managing Partner
Law Office of Richard A. Levine, pc, Adjunct Professor, Colorado School of Mines, Law and Economics


While this book is valuable and relevant to a number of constituencies, I read it from the perspective of a long term entrepreneur now serving as a trusted advisor to fast growing companies. The Governance, Relationships, Risks and Knowledge (“GRRK”) content in this book focuses on how to build and enhance company value. Sheeler shares a holistic approach to collaboration between the right knowledgeable advisors resulting in better alignment between the company clients’ ecosystems. That is exactly what a successful strategy is supposed to achieve: enhanced shareholder value.

Dr. Frumi Rachel Barr, Founder and Chief Inspiration Officer
Scaling 4 Growth


Equity Value Enhancement goes beyond traditional equity valuation books. Drawing from 25+ years of experience, in this book, Dr. Carl L. Sheeler has presented pragmatic ways that lead to increase in value of an enterprise. The "Governance, Relationships, Risks and Knowledge (GRRK)” approach empowers readers to become "strategic value architects". This book is a must-read for all those interested in equity valuation.

Dr. Hafiz Imtiaz Ahmad, Assistant Professor & Director of PE, School of Management
New York Institute of Technology, Abu Dhabi Campus


As a practitioner working with what is called the “soft side” of family business I want to recommend this book. Carl has a remarkable range of topics that clearly show how the enhancement of equity value is a personal task for a family that owns shared assets, and how the focus of family engagement can add to or destroy value. This book is one of the few resources that seamlessly synthesize hard and soft issues, making it an accessible and incredibly useful book for every family with substantial shared assets.

Dennis Jaffe, Ph.D.
Wise Counsel Associates


With increased interest in the creation and enhancement of equity value, Carl Sheeler’s book provides a key resource for understanding and implementing effective strategies to unlock value by capitalizing on risk as an opportunity.  The book explains the link between risk management and valuation drivers to improve financial performance, enhance value and to attain an optimal risk / value profile of a firm.

Carl Sheeler combines theory with expert knowledge of practical observations about how risk identification and mitigation can be actively managed to create value, especially for stakeholders who may not know the inherent problems they face.  This is a required reading for family offices, investors, boards of directors, advisors, lawyers, CPAs and all other constituencies who are interested in value enhancement through risk identification and risk mitigation.

Ozgur B. Kan, PhD, CFA, FRM, former Head of Credit Methodology
GE Capital Americas


With Carl’s book, you find that a basic feature of modern enterprises is the need to create effective intangible assets through unique approaches. As a professor, I gleaned from this that a business school should help its students identify the intangibles that are not disclosed by a balance sheet. This book opens a new window and shows the reader how to judge the value of a business with innovative thoughts and methods that transcend the typical limitations of valuation analysis.

 

Haisu Wang, Professor and Director of Research Center of Business Value
Zhongnan University of Economics and Law - China


Dr. Sheeler’s book succeeds in impressing upon the appraisal and advisory community that risk identification and measurement need not be a commodity.  The real opportunity lies in establishing a strategy and culture where owners and advisors align their activities to leverage their knowledge and relationships.  The book’s focus is on the necessity for the often overlooked risk management and mitigation roles.  This separates the dabblers from the industry professionals and allows for more lucrative engagements while making a real difference for the owner and investors in both liquidity and legacy.

John K. Paglia, Ph.D., CFA, CPA, Associate Dean & Associate Professor of Finance
Pepperdine University Graziadio School of Business and Management


While advisors provide advice to their clients, Dr. Carl Sheeler, based on 2 decades of experience and research, targets the advisors so that they can better assist their clients. As a professional appraiser, I fully agree with Carl that GRRK is so important to see what’s driving operational performance. I am sure appraisers and other advisors will be able to become trusted advisors and provide the advice that clients need to enhance the value of their businesses after reading this book.

Chengjun Wang, Phd, FRICS, ASA, FCPV, FCPA, Vice-Chairman, Senior Partner  
Zhonghe Appraisal Co., Ltd.         
 


Carl Sheeler’s Equity Value Enhancement is an important addition to the field.  Dr. Sheeler takes complex economic and financial theories and reduces them to simple terms accessible to the layperson.  More importantly, he brings these theories to life by way of real world examples and a rich descriptive language that allows the reader to fully grasp and put these important concepts to practical business use. 

C. Paul Wazzan, Ph.D., Managing Director
Berkeley Research Group, LLC