Updated A.Y. 2019-2020
The course aims at providing students with theoretical framework and practical skills concerning companies' valuation. Based on relevant real-world case studies the course focuses on advanced topics in corporate finance related to valuation issues.
Students will learn the application of the main methods of corporate valuation (DCF and multiples’ method) applied by the financial community (investment banks and advisory/consulting firms), that will be analyzed and discussed during the course.
After the course, students will be able to assess and interpret complex companies' financial frameworks and companies' valuation issues, and to apply the main method of companies' valuation. More specifically, students will be able to properly interpret companies' financial statements, to apply a relevant financial ratios' framework, to develop a full business plan, and to make complex companies' valuation.
The main topics of the course will be the following:
• Business Planning
• Corporate Valuation
• Valuation Issues
More specifically, the subjects of the course are the following:
- Analysis of Financial Statements as a managerial tool to understand the financial status of a company;
- Financial modeling of a business plan and application in a real world context;
- Analysis of relevant valuation techniques, DCF and multiples' method, and their application to business cases.
Lectures, case discussions, and assignments.
Teaching material (slides and excel models), that will be made available during the course.
Damodaran, A., Investment Valuation, Tools and Techniques for Determining the Value of any Asset, University Edition, Third Edition, 2012.