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The use of fuzzy logic and expert systems for rating and pricing firms

Listed author(s):
  • Stefano Carlo Alberto Magni

Purpose - The purpose of the paper is to focus on the rating, ranking and valuing of firms. Design/methodology/approach - Fuzzy logic and expert systems are used in order to provide a score for the firm(s) under consideration, representing the firm value-creating power. Findings - The fuzzy expert system introduced is capable of dealing with both quantitative and qualitative variables and integrates financial, managerial and strategic variables. A sensitivity analysis corroborates the model. Research limitations/implications - The system is apt to rate and rank firms within a sector. Some regression analysis can lead to a determined price for the target firm. Practical implications - The expert system may be used by rating agencies for ranking firms, and by financial analysts and potential buyers to furnish a price for acquisition. Originality/value - The use of a fuzzy expert system for ranking firms within a sector and pricing firms is a first attempt at an alternative way of measuring performance and value.

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Article provided by Emerald Group Publishing in its journal Managerial Finance.

Volume (Year): 33 (2007)
Issue (Month): 11 (October)
Pages: 836-852

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Handle: RePEc:eme:mfipps:v:33:y:2007:i:11:p:836-852
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