Il rendimento economico d’impresa e il modello della creazione di valore integrata. La Distribuzione IAM Auto Italia 2008-2010.

All along, investors try to find the most coherent return in terms of risk and time. The evaluation of this coherence needs a complete measure. But the return performance indicators are so numerous (Roi, CfRoi, Eps, Tsr, Npv, Mva, ecc.) that frequently investors meet Dante Alighieri’s rhymes “Abandon every hope, you who enter here” and they think to business evaluation as a “forest dark, for the straightforward pathway had been lost”. The present essay supports the idea that a complete measure around return on investment must integrate the current value creation, i.e. the realized results in the present, and the strategic value creation, i.e. the sown results for the future. At the end is summarized the value creation analysis of the Italian Independent After Market Distributors, 160 limited companies, for the 2008-2010 period.