September 12 - Smartworking ( 6 hours)

This day the focus is on the perceived value of sport companies, influenced by the behavioral finance and behavioral economy. The perceived value of a sport company is not based anymore on the EBITDA, but on the numbers of users, fans, clients. The quality of the business prevails on the quantity of revenues generated. Fanbase, content, brand extension opportunity, new sales channels and values are considered more important than traditional assets in evaluating a financial plan and the supplementary note. When analyzing the financial performances, investors take into account all the nontraditional assets that are not listed in the balance sheet, but that can change completely the perceive risk and value of an investment. These two parameters, that are crucial in deciding if to invest in a company or not, are not based anymore just on numbers. The Asset Turnover Ratio, that measure the revenues generated by each dollar of assets owned by a company has not (with the behavioral economy and finance) the same values as in the past. In fact, there are some intangible assets already discussed in this report, such as the number of users, the fanbase, the values of the company, experience and belonginess that can increase or decrease drastically the perception of investors and stockholders. Sport is leading the world in a new perspective of brand value and financial value, based on some personal and intagible values that are added to the economic and financial part. It was very useful to understand how different is the evaluation of both sport and financial performances in the current market, that is always evolving and always changing.