154-0906/03 – Firm Value Calculation (UHF)
Gurantor department | Department of Finance | Credits | 10 |
Subject guarantor | prof. Dr. Ing. Zdeněk Zmeškal | Subject version guarantor | prof. Dr. Ing. Zdeněk Zmeškal |
Study level | postgraduate | Requirement | Choice-compulsory |
Year | | Semester | winter + summer |
| | Study language | Czech |
Year of introduction | 2012/2013 | Year of cancellation | 2020/2021 |
Intended for the faculties | EKF | Intended for study types | Doctoral |
Subject aims expressed by acquired skills and competences
This course focuses on deepening of basic knowledge about firm valuation obtained within bachelor study of Finance. The aim of the course is to learn students to apply advanced valuation approaches and methods in order to analyze the firm value as well as to asses mergers and acquisitions, including accounting and legal aspects.
Teaching methods
Lectures
Summary
Compulsory literature:
Recommended literature:
KOLLER, T., GOEDHART, M., WESSELS, D. (2010). Valuation: Measuring and Managing the Value of Companies. 5th ed. New Jersey: Wiley.
Additional study materials
Way of continuous check of knowledge in the course of semester
E-learning
Other requirements
There are no other requirements on student.
Prerequisities
Subject has no prerequisities.
Co-requisities
Subject has no co-requisities.
Subject syllabus:
1. Theoretical fundamentals of valuation.
2. Fundamental approach at the company valuation.
3. Strategic analysis (forecasting of sales).
4. Financial analysis as a part of the company valuation.
5. Costs of capital for valuation purposes. Valuation on the terms of risk (Risk Adjusted Cost of Capital, RACC, Certainty Equivalent Method, CEM).
6. Strategic financial plan.
7. Property valuation. Substance method.
8. Discounted cash flow valuation methods, multi-step DCF valuation.
9. Capitalized net earnings method.
10.Economic value added method.
11. Other valuation methods.
12. Real options.
13. Mergers and acquisitions, synergy valuations.
Conditions for subject completion
Occurrence in study plans
Occurrence in special blocks
Assessment of instruction
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