Valuation is fuzzy : Integration qualitativer Risiken ins stochastische Bewertungsmodell mit Hilfe der Fuzzy-Set Theorie

Martin Klein

Non-financial risk factors play a fundamental role in supporting the competitive position of companies in many of today's industries. Though, assessing these ambiguous factors in a valuation based on a Monte-Carlo simulation is particularly difficult. This paper presents how the fuzzy-set theory allows these factors to be assessed explicitly and how the resulting outcome can be linked with a stochastic model. -- Monte-Carlo Simulation ; fuzzy-set theory ; valuation ; fuzziness ; expert systems ; Balanced Scorecard ; non-financial risk factors ; due diligence ; risk analysis

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Year of publication:	2010
Authors:	Klein, Martin
Publisher:	Erlangen-Nürnberg : Univ., Lehrstuhl für Rechnungswesen und Prüfungswesen
Subject:	Monte-Carlo-Simulation \| Monte Carlo simulation \| Fuzzy-Set-Theorie \| Fuzzy sets \| Expertensystem \| Expert system \| Balanced Scorecard \| Balanced scorecard \| Vorsichtsprinzip \| Principle of prudence \| Unternehmensbewertung \| Firm valuation
Description of contents:	-- Monte-Carlo Simulation ; Fuzzy-Set Theorie ; Unternehmensbewertung ; Unschärfe ; wissensbasierte Systeme ; Balanced Scorecard ; Linguistik ; qualitatives Risiko ; Due Diligence ; Risikoanalyse