VALUATION AND CORPORATE FINANCIAL STRATEGY

Academic year
2024/2025 Syllabus of previous years
Official course title
VALUATION AND CORPORATE FINANCIAL STRATEGY
Course code
EM1056 (AF:506408 AR:292546)
Modality
On campus classes
ECTS credits
6
Degree level
Master's Degree Programme (DM270)
Educational sector code
SECS-P/09
Period
4th Term
Course year
1
Where
TREVISO
The module focuses on assets' strategic valuation and more specifically on the strategic valuation of firms. The module is very important for the valuation of mergers and acquisition (a topic 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 firms);
- appreciate different valuation approaches
- assess and discuss pro and contra of different evaluation approaches and their advantages/disadvantages in company valuation
- take a decision about the model/approach that better fits the valuation of the firm and the strategy pursued by the firm
- 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)
- 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 M&A and its evaluation
Aswath Damodaran "Investment Valuation: Tools and Techniques for Determining the Value of any Asset" University Edition (Wiley Finance)
Last edition

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.
The student is expected to deliver a Company valuation report (to be agreed with the lecturer, max 1,500 words or 10 ppt slides (graphs/tables/flowchart/etc. excluded). The work is discussed and a passing grade is obtained if the report reaches sufficient technical standards and the discussion show at least an adequate knowledge of the material coverd in class.
Class Lectures. Case studies discussion (case studies presented in class)
English
See the moodle page.
written and oral

This subject deals with topics related to the macro-area "Human capital, health, education" and contributes to the achievement of one or more goals of U. N. Agenda for Sustainable Development

Goal 3: good health and well-being
Goal 4: quality education
Definitive programme.
Last update of the programme: 28/06/2024