Business Valuation

1. Front Matter

   Pages i-xv

   PDF

2. Value, Valuation, and Valuer

   • Marco Fazzini

   Pages 1-22

3. Integrated Valuation Approach (IVA)

   • Marco Fazzini

   Pages 23-37

4. Financial Statement Analysis

   • Marco Fazzini

   Pages 39-76

5. Income-Based Method

   • Marco Fazzini

   Pages 77-122

6. Market-Based Method

   • Marco Fazzini

   Pages 123-174

7. The Cost Approach

   • Marco Fazzini

   Pages 175-181

8. Intangible Assets Valuation

   • Marco Fazzini

   Pages 183-208

9. Premiums and Discounts in Business Valuation

   • Marco Fazzini

   Pages 209-217

10. Back Matter

    Pages 219-227

    PDF

This book provides an applied theoretical approach to modern day business valuation. It combines elements from both finance and accounting to help practitioners identify the most suitable method for analysis, showing when and how methods can be applied in different contexts and under specific constraints. It describes how business valuation techniques can be applied to calculate value in case of transactions, litigation, IPOs, and the fair value under an IFRS framework.


The purpose of this book is to offer a guideline for the application of an integrated approach, thereby avoiding "copy and paste" valuations, based on pre-packaged parameters and the uncritical use of models. Specifically, an Integrated Valuation Approach (IVA) should be adopted that encompasses, within any specific method, a wide range of elements reflecting the characteristics and specificities of the firm to be valued.


The book is based on the International Valuation Standards issued by the International Valuation Standards Council. Valuation standards allow for an alignment of both the methods and their application, providing a common basis for valuers.

• Company Valuation
• Accounting
• Finance
• International Valuation Standards
• Intangible Assets Valuation
• Distressed Company Valuation
• Cost of Capital
• Income-based Approach
• Market-based Approach
• Cost-based Approach

• European University of Rome, Rome, Italy

  Marco Fazzini

Marco Fazzini is Full Professor of Financial Accounting at the European University of Rome, Italy. Alongside his academic commitments, Professor Fazzini also undertakes a number of corporate consulting assignments with a specific focus on M&A, corporate restructuring, and company valuation.


He is President and a member of the board of auditors for a number of listed companies, banks, insurance companies, and leading European entities. He is also a member of the Italian Accounting Standards Commission, and a member of various academic associations.
He is the author of numerous monographs and scientific publications. Professor Fazzini received his PhD in Business Administration from the University of Pisa, Italy.

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