I beni immateriali: valutazione e merito creditizio

[Autom. eng. transl.] Intangible assets are an increasingly important element in estimating company value, but they are not easy to account for and to measure with standard approaches. This evaluation complexity is growing, year by year, with the bursting of new technologies in the business models and in the operational processes of the companies, requiring assessors to expand the field of analysis to the new intangibles. Artificial intelligence, social networks, big data, start-ups, digital branding, websites, mobile apps, etc. they find themselves coexist - in the business valuation activity - with traditional intangible assets such as goodwill, know-how, patents, trademarks and software. The purpose of this volume is to provide a detailed analysis of the valuation methods of individual intangible assets, old and new, trying to adapt, on a case-by-case basis, the traditional valuation paradigms to the characteristics of the new assets and to the new levers of business and creation worth. Multi-purpose assessment methods emerge, which for greater effectiveness must draw on the preliminary analysis of the technical skills of IT specialists, engineers, web marketing specialists, digital analysts - and be considered in a synergetic portfolio perspective. The second central theme of the book concerns the aspects of bankability and creditworthiness of intangible assets, whose limited collateral value is offset by their contribution, in terms of incremental income and competitive advantage, to service the debt. This is all the more relevant for the new intangibles which, together with the innovative and propulsive force, incorporate aspects of uncertainty, with consequent forecasting difficulties and information asymmetries. This entails the need to thoroughly examine the underlying business model and the ability to produce incremental cash flows. The ample analysis, the topicality of the contents, the practical cut, the rich bibliographical kit make the volume an interesting analysis tool for those in the banking and business world who follow the activities of credit and company valuation and, more generally, follow the new digital themes in which technology interacts with marketing on Internet platforms.