Z. Christopher Mercer, FASA, CFA, ABAR


Z. Christopher Mercer is the Chairman of Mercer Capital. Chris began his valuation career in the late 1970s. He has prepared, overseen, or contributed to hundreds of valuations for purposes related to tax, ESOPs, buy-sell agreements, and litigation, among others. In addition, he has served on the boards of directors of several private companies and one public company. He enjoys working with business owners to address ownership transition issues.

Chris has extensive experience in litigation engagements including statutory fair value cases, divorce, and numerous other matters where valuation issues are in question. He is also an expert in buy-sell agreement disputes.

Chris is a prolific author on valuation-related topics and a frequent speaker on business valuation issues for national professional associations and other business and professional groups.

Books authored by Chris include:

  • Business Valuation: An Integrated Theory, Third Edition (John Wiley & Sons, Inc., 2020) with Travis W. Harms, CFA, CPA/ABV
  • Unlocking Private Company Wealth: Proven Strategies and Tools for Managing Wealth in Your Private Business (Peabody Publishing, 2014)
  • Buy-Sell Agreements for Closely Held and Family Business Owners: How to Know Your Agreement Will Work Without Triggering It (Peabody Publishing, 2010)
  • Business Valuation: An Integrated Theory, Second Edition (John Wiley & Sons, Inc., 2008) with Travis W. Harms, CFA, CPA/ABV
  • Buy-Sell Agreements: Ticking Time Bombs or Reasonable Resolutions? (Peabody Publishing, LP, 2007)
  • Valuing Shareholder Cash Flows: Quantifying Marketability Discounts (Peabody Publishing, LP, 2005)
  • Valuing Enterprise and Shareholder Cash Flows: The Integrated Theory of Business Valuation (Peabody Publishing, LP, 2004)
  • Quantifying Marketability Discounts (Peabody Publishing, LP, 2001, & 1997)
  • Valuing Financial Institutions (Business One Irwin, 1992)

Professional Activities

  • International Valuation Standards Council
    • Member of the Professional Board (2011 to 2014)
  • American Society of Appraisers
    • College of Fellows (2016 to Present)
    • Chairman of the Standards Sub-Committee (2007 to 2011)
    • Member of the Standards Sub-Committee (1990 to 2005)
    • Elected Member, Business Valuation Committee (1990-1996)
    • Vice-Chairman, International Board of Examiners (1991-1994)
  • The CFA Institute
  • National Speakers Association, Member
  • Memphis Society of Financial Analysts
  • The Value Examiner, Editorial Advisory Board
  • Financial Valuation and Litigation Expert, Editorial Advisory Board
  • Business Valuation Review (American Society of Appraisers)
    • Contributing Columnist
    • Editorial Review Board (1995 to 2002)

Professional Designations

  • Chartered Financial Analyst (The CFA Institute)
  • Accredited Senior Appraiser, Fellow (The American Society of Appraisers)
  • Accredited in Business Appraisal Review (The National Association of Certified Valuators and Analysts)


  • Vanderbilt University, Nashville, Tennessee (M.A., Economics, 1971)
  • Stetson University, Deland, Florida, (B.A., Economics, cum laude, 1968)