The Use of Fuzzy Logic and Expert Systems for Rating and Pricing Firms: A New Perspective on Valuation
نویسندگان
چکیده
This paper presents an expert system aimed at evaluating firms and business units. It makes us of fuzzy logic and integrates financial, strategic, managerial aspects, processing both quantitative and qualitative information. Twenty-nine value drivers are explicitly taken into account and combined together via “if-then” rules to produce an output. The output is a real number in the interval [0,1], representing the value-creation power of the firm. The system may be used for rating, ranking and pricing firms as well as for assessing the impact of managers’ decisions on value creation and as a tool of corporate governance.
منابع مشابه
PRICING STOCKS BY USING FUZZY DIVIDEND DISCOUNT MODELS
Although the classical dividend discount model (DDM) is a wellknown and widely used model in evaluating the intrinsic price of common stock, the practical pattern of dividends, required rate of return or growth rate of dividend do not generally coincide with any of the model’s assumptions. It is just the opportunity to develop a fuzzy logic system that takes these vague parameters into account....
متن کاملDesigning an Expert System for Credit Rating of Real Customers of Banks Using Fuzzy Neural Networks
Currently, in Iran's banking system, non-repayment of facilities has become one of the biggest issues, and due to the lack of a proper system for proper allocation of facilities, they face a number of problems, including the problem of allocation of loans, the problem of failure to repay loans Of the central bank, or the amount of facilities increased from the amount of reimbursement. The solut...
متن کاملNew Applications on Linguistic Mathematical Structures and Stability Analysis of Linguistic Fuzzy Models
In this paper some algebraic structures for linguistic fuzzy models are defined for the first time. By definition linguistic fuzzy norm, stability of these systems can be considered. Two methods (normed-based & graphical-based) for stability analysis of linguist fuzzy systems will be presented. At the follow a new simple method for linguistic fuzzy numbers calculations is defined. At the end tw...
متن کاملMulti-perspective Decision Support System for Hierarchical Bus Transportation Network Design: Tehran Case Study
In this paper, a multi-perspective decision support system (MP-DSS) to design hierarchical public transportation network is developed. Since this problem depends on different perspectives, MP-DSS consists of two sub-systems with macro and micro sub-systems based on travel information, land use and expert knowledge. In the micro sub-system, two sub-modules are developed considering o...
متن کاملDESIGN AND IMPLEMENTATION OF FUZZY EXPERT SYSTEM FOR REAL ESTATE RECOMMENDATION
<span style="color: #000000; font-family: Tahoma, sans-serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none; backgro...
متن کامل