This paper presents an expert system aimed at evaluating firms and business units. It makes use of fuzzy logic and integrates financial, strategic, managerial aspects, processing both quantitative and qualitative information. Twenty-nine value drivers are explicitly taken into account and combined together via “if-then” rules to produce an output. The output is a real number in the interval [0,1], representing the value-creation power of the firm. The system may be used for rating, ranking and pricing firms as well as for assessing the impact of managers’ decisions on value creation and as a tool of corporate governance.
The use of fuzzy logic and expert systems for rating and pricing firms: a new perspective on valuation / Malagoli, Stefano; Magni, Carlo Alberto; Mastroleo, Giovanni. - In: MANAGERIAL FINANCE. - ISSN 0307-4358. - STAMPA. - 33:11(2007), pp. 836-852. [10.1108/03074350710823818]
The use of fuzzy logic and expert systems for rating and pricing firms: a new perspective on valuation
MAGNI, Carlo Alberto;
2007
Abstract
This paper presents an expert system aimed at evaluating firms and business units. It makes use of fuzzy logic and integrates financial, strategic, managerial aspects, processing both quantitative and qualitative information. Twenty-nine value drivers are explicitly taken into account and combined together via “if-then” rules to produce an output. The output is a real number in the interval [0,1], representing the value-creation power of the firm. The system may be used for rating, ranking and pricing firms as well as for assessing the impact of managers’ decisions on value creation and as a tool of corporate governance.
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Magni584907SSRN-id1311915.pdf
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