Corporate Valuation for Finance

2018-2019

Course Objective

This course elaborates on the course Advanced Corporate Finance 4.1.
Aim is to complete the overview of the Corporate Finance field.
Corporate
Valuation is closely interconnected with Corporate Financing decisions.

Course Content

The course kicks off with a discussion of value drivers and Financial
Statement Analysis. A valuation
starts with a thorough understanding of the business strategy and an
analysis of the financial figures.
Quickly thereafter the hard core of Corporate Valuation will be
outlined: CF valuation techniques (theory and practice) and pricing
models for equity investments and debt investments. We follow closely
the methodology as outlined by McKinsey, regarded by professionals as
the standard practice.

Corporate valuation depends very much on the perception of investors in
financial markets. Therefore attention will be paid to the perspective
of banks as loan providers, investment banks as dealers, equity analysts
and majority shareholders. These topics will be the basis of two guest
lectures.
After this overview specialized topics will be addressed: corporate
valuation in special cases of start-ups, valuation of
corporate social responsibility and finally we will discuss the
valuation of companies such as Facebook and Instagram.

Corporate Valuation topics will be applied in 3 business cases provided
by the coordinator and 1 case provided by a guest lecturer.

Teaching Methods

Lectures (2 times 2 hours per week) and work groups (1 time 2 hours per
week)

Method of Assessment

written exam (70%) and four case assignments (30%)

Literature

- Reading material provided on canvas
- Harvard business case course pack (this will be made available for
purchase at the beginning of the course)
- Valuation, McKinsey (6th edition). (The 5th edition of this book can
also be found as an e-book, but the students will be responsible to
match the content between the two editions and no rights can be derived
from using the older version of the book).

General Information

Course Code E_FIN_CVF
Credits 6 EC
Period P4
Course Level 400
Language of Tuition English
Faculty School of Business and Economics
Course Coordinator dr. M. Millone MSc
Examiner dr. M. Millone MSc
Teaching Staff dr. M. Millone MSc

Practical Information

You need to register for this course yourself

Last-minute registration is available for this course.

Teaching Methods Lecture, Study Group
Target audiences

This course is also available as: