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David C. Light is a Managing Director at Duff & Phelps LLC. With over 15 years of financial advisory experience, Mr. Light has managed a wide variety of corporate finance transactions and advisory engagements for both public and private company owners, Boards of directors, and trustees. The transactions have ranged from acquisitions of companies (or divisions) by employee managers through Employee Stock Ownership Plans (ESOPs) to advising family shareholders on how to take a public company private. His advisory work has involved structuring ESOP transactions, fairness opinion work for Boards, incentive program design, compliance work, corporate planning for owners, and litigation support.
Mr. Light has developed new methods for quantifying the repurchase liability for ESOP companies and presented these methods through National Center for Employee Ownership ("NCEO") workshops. In addition, he has written many articles regarding ESOPs, ranging from Quantifying the ESOP Repurchase Liability, to measuring the benefit of diversification. He co-authored a paper on how to value S Corporation ESOPs which has been adopted by the ESOP Association's Valuation Committee. He is an active member of the ESOP Association and the NCEO and has spoken on valuation issues for ESOP companies. Mr. Light is currently the president of the Business Valuation Association.
Mr. Light received his B.A. in Economics from Princeton University, and his M.B.A. in Finance from the University of Chicago Graduate School of Business.
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