Prospettive economico-finanziarie e saggi di sconto. Aspetti di quantificazione e rappresentazione

Translated title of the contribution: [Autom. eng. transl.] Economic and financial prospects and discount rates. Quantification and representation aspects

Research output: Book/ReportBook

Abstract

[Autom. eng. transl.] This research is part of the reference literature on the subject of corporate risk appreciation and the related discount rate, in order to highlight any critical points of traditional models and examine more advanced models to understand their theoretical consistency and practical applicability, also on the Italian industrial fabric. The author mainly investigates whether the Italian listed companies, protagonists of extraordinary transactions in the last decade 2008-2016, present the book-to-market market index adhering to the performance of defined economic-equity and financial performance indicators. The profound geopolitical and macroeconomic changes of the last decades, together with the economic and financial crisis, have called into question the reliability of certain evaluative assumptions, both in terms of scenario and of balance and business development. On the one hand, there has been a sharp downsizing of the judgment of merit of some paradigms (eg CAPM) and, on the other, the need to implement more advanced quantitative models for risk prediction has been consolidated (eg multivariate discriminant analysis models, MDA). The main hypothesis concerns the possibility that the book-to-market index may be influenced more by market externalities than by the specific economic-financial prospects of the company, in terms of market capitalization. The confirmation, however, can only derive from empirical investigations carried out directly on balance sheet data and on performance indicators of the selected companies in the sample.
Translated title of the contribution[Autom. eng. transl.] Economic and financial prospects and discount rates. Quantification and representation aspects
Original languageItalian
PublisherFRANCO ANGELI EDITORE
Number of pages193
Volume2018
ISBN (Print)978-88-917-7014-1
Publication statusPublished - 2018

Keywords

  • ALTMAN
  • ATTUALIZZAZIONE
  • BETA ACCOUNTING
  • FAMA, FRENCH - 5F
  • RISK PREMIUM
  • SAGGI DI SCONTO

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