In a recent interview in the upcoming May issue of Business Valuation Update, Ascanio Salvidio (Salvidio & Partners) describes the valuation profession in Italy and the importance of a convergence of valuation standards in his country. He also talks about the data sources he uses.
“There is extensive information (financial data, transactions, ownership, etc.) for both public and closely held Italian companies available through the national Company Registrar (Registro delle Imprese),” says Salvidio. “However, search capabilities are limited and there are almost no screening tools. Therefore, every professional valuer in Italy must also rely on other, more sophisticated, sources.” He mentions Standard & Poor’s Capital IQ, Alacra, the databases of Thomson Reuters or Bloomberg for financial data of public companies, and Bureau van Dijk for transaction data. He also uses financial newspapers and periodicals, most of which are available online.
“The Internet is an enormous source of information for valuers,” says Salvidio. “I recently was involved as counsel in a litigation concerning the value of a wedding planner firm that had not filed financial statements for a few years. I was able to do a rough estimate of its revenues because all of the events it organized had been proudly put on its public Facebook page.”
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