Discount LAck of Control

CFA Level II Equities
#1

Can someone please explain the table for Premiums for controlling interest?

  1. Comparable Data = Controlling Interest, Subject Valuation = Noncontrolling interest.

=Adjustment to comparable data for Control = DLOC.

  1. Comparable Data = Noncontrolling Interest, Subject Valuation = Controlling interest.

=Adjustment to comparable data for Control = Control Premium

What exactly is comparable data and what is subject valuation?

Thanks!

#2

If you are starting with value with controlling interest and want to get to minority perspective, you apply a discount called as DLOC.

Rinse, repeat, logic is same