Valutazione d’azienda nel mondo ESG

[Autom. eng. transl.] Anyone interested in corporate finance puts company valuation at the center of their attention, together with the criteria used for valorisation. For some time now, the convergence towards multiples and the Discounted Cash Flow (DCF) has been almost unanimous. It is a pity that multiples often carry serious limitations and that the logic of "so fan all", or the absolute dominance of the market, has proved to be very incomplete in many circumstances. Particularly in the presence of strong and unpredictable volatility. The DCF and the "fundamental" criteria never lie ... but the world of investors and companies themselves are increasingly looking at ESG (Environmental, Social, Governance) issues as variables with a growing impact on the cost of capital and risk. in general. The company valuation therefore goes in a new direction, after years of generalized alignment.