© 2018

Business Valuation

Theory and Practice


Table of contents

  1. Front Matter
    Pages i-xv
  2. Marco Fazzini
    Pages 1-22
  3. Marco Fazzini
    Pages 23-37
  4. Marco Fazzini
    Pages 39-76
  5. Marco Fazzini
    Pages 77-122
  6. Marco Fazzini
    Pages 123-174
  7. Marco Fazzini
    Pages 175-181
  8. Marco Fazzini
    Pages 183-208
  9. Marco Fazzini
    Pages 209-217
  10. Back Matter
    Pages 219-227

About this book


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

Authors and affiliations

  1. 1.European University of RomeRomeItaly

About the authors

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.

Bibliographic information