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Fuzzy Systems in Business Valuation


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Title:
Fuzzy Systems in Business Valuation
Authors:
Brotons, Jose M  
Sansalvador, Manuel E.  
Editor:
World Scientific Publishing
Department:
Departamentos de la UMH::Estudios Económicos y Financieros
Issue Date:
2018-12
URI:
https://hdl.handle.net/11000/30751
Abstract:
This research aims to develop a model that is able to integrate and objectify information provided by the different business valuation methods, incorporating quality management in its formal approach, which to date has not been considered in the literature about business valuation or quality management. Firstly, the company is valued using the methods which best adapt to its specific characteristics. Because of the subjectivity inherent in any valuation process, the results will be expressed through Triangular Fuzzy Numbers (TFN). These Fuzzy Numbers will be aggregated and summarized by applying Basic Defuzzification Distribution Uncertain Probabilistic Ordered Weighted Averaging operator (BADD-UPOWA). The weighting factors will be: the degree of confidence in each of the business valuation methods applied, and the innovative use of the company’s position on Crosby’s Quality Administration Grid. The results from application of the model in a case study show a significant reduction in uncertainty in contrast to the initial valuations. Moreover, the proposed methodology is seen to increase the final value of the company as its advances in quality management.
Keywords/Subjects:
Business valuation
discounted cash flow
quality management
fuzzy logic
ordered weighted average
case study
Knowledge area:
CDU: Ciencias sociales: Economía
Type of document:
info:eu-repo/semantics/article
Access rights:
info:eu-repo/semantics/closedAccess
Attribution-NonCommercial-NoDerivatives 4.0 Internacional
DOI:
https://doi.org/10.1142/S0218488518400019
Appears in Collections:
Artículos Estudios Económicos y Financieros



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