Which of the following is NOT a source to quantify a control premium?

The rationale behind why corporate financial statements do not serve as a source to quantify a control premium lies in their function and information content. Corporate financial statements provide a snapshot of a company's financial performance and position, including balance sheets, income statements, and cash flow statements. While they are crucial for understanding a company’s overall financial health and its operational metrics, they do not typically disclose specific information about transaction premiums, control dynamics, or market behavior in the context of mergers and acquisitions.

On the other hand, sources like the Factset Mergerstat review compile extensive data from actual transactions, including premiums paid in acquisitions where control stakes were acquired. Morningstar Principia focuses on mutual funds and closed-end funds, whereas the Direct Investments Spectrum showcases direct investment trends, both of which can provide insights into control premiums in transactions. These sources aggregate historical transaction data and market trends that are vital for accurately determining control premiums, making them more suitable for this analysis than corporate financial statements.