FINANCIAL POLICIES & INVESTMENT STRATEGIES - 2

Academic year
2021/2022 Syllabus of previous years
Official course title
FINANCIAL POLICIES & INVESTMENT STRATEGIES - 2
Course code
EM4040 (AF:332436 AR:179542)
Modality
On campus classes
ECTS credits
6 out of 12 of FINANCIAL POLICIES & INVESTMENT STRATEGIES
Degree level
Master's Degree Programme (DM270)
Educational sector code
SECS-P/09
Period
2nd Term
Course year
2
Moodle
Go to Moodle page
The second part of the module focuses on assets' strategic valuation. The part of the module is relevant for mergers, acquisition (topics partially covered by the module) as well as for the sale of small firms or firm's branches. It is also relevant in terms of portfolio asset management.
By the end of the module the student will
- appreciate the context of valuation (why to evaluate assets/firms);
- appreciate different valuation approaches
- assess and discuss pro and contra of different evaluation approaches and their advantages/disadvantages particularly in the case of company valuation
- take a decision about the model/approach that better fits the valuation of the asset
- take into consideration the strategic component in firm's valuation
- be able to apply the valuation approach to real-life cases
Basic knowledge of corporate finance (NPV, IRR, CAPM) and accounting (ratio analysis)
- The rationale behind company valuation (asset acquisition, investment, M&A, strategic dimension of valuation)
- Accounting approach
- Asset-based approach
- Net present value approach (FCFE and FCFF)
- Dividend based approach
- SMEs valuation and innovative techniques to evaluate SMEs and start ups
- Growth strategy via acquisitions
Same material as during the first part of the module. During the course additional material (e.g. academic articles and working papers) will be provided as further reading. The material will be disseminated via Moodle platform.
For those who attend the module
Company valuation report (to agree with the lecturer) max 1,500word or 10 ppt slides (graphs/tables/flowchart/etc. excluded). The presentation has to be uploaded on Moodle or sent to the academic via email.

For those who do not attend the module
Company valuation report on a case study disseminated the day of the exam. The presentation has to be uploaded on Moodle or sent to the academic via email.
Class Lectures
Case studies discussion (case studies presented in class)
English
Teaching language
English
written
Definitive programme.
Last update of the programme: 17/09/2021