The objective of this course is to make students familiar with the standard techniques of corporate valuation. Students will learn how to implement valuations using spreadsheet software, how to asses important investment decisions, and how to relate valuation and strategy.
The grade will be determined according to the following scheme: Assignments (incl. cases) (40%); Written exam (60%).
Specifics about the assignments will be announced in the first lecture. The minimum required grade in the written exam necessary for passing the course is 5.0.
Case study grades, or exam grades from previous years, are not transferable to the current year. Assignment grades continue to count with the above weights if students take the resit, i.e., the resit exam counts exactly the same towards the final grade, as does the regular final exam.
Finance 1 and 2, or Financiering 1 and 2, or Corporate Finance 1 and 2.bachelor degree business economics
The course will introduce students to the most frequently used quantitative valuation techniques. The main topics covered include (but are not limited to): Discounted Cash Flow Methods; Relative Valuation using Multiples; and Real Option Analysis. Students will learn how to conduct valuations using spreadsheet software (Excel) and they have the opportunity to practice their newly acquired skills in case studies.
Type of instructions
lectures 3x2 hours a week lecture
Type of exams
Assignments (incl. cases) and written exam
- Titman, Sheridan and Martin, John, Valuation - The Art & Science of Corporate Investment Decisions, Pearson, third ed.
- Additional required readings (if any) are announced in the first lecture