IPT Logotipo do IPT

Gestão

Business Valuation

<< back to Curriculum Plan

Publication in the Diário da República: Despacho n.º 4406/2017 - 22/05/2017

5 ECTS; 1º Ano, 2º Semestre, 30,0 TP , Cód. 929512.

Lecturer
- Renato Heitor Correia Domingues (1)(2)

(1) Docente Responsável
(2) Docente que lecciona

Prerequisites
There are no formal prerequisites, but in-depth knowledge of Financial Calculus and Corporate Finance would be helpful.

Objectives
Study of the concepts, issues and models regarding investment valuation. It is intended that students understand and apply the models of business valuation, knowing its advantages and limitations, being able to intelligently participate in the business valuation process.

Program
I - Introduction to Valuation
1. Misconceptions about valuation.
2. Valuation models.
II - Discounted Cash Flow Valuation (DCF)
1. Basis for approach
2. DCF Choices: Equity Valuation versus Firm Valuation
3.Estimating Discount Rates
4. Estimating Cashflows and Growth
5. Terminal value.
6. Value enhancement.
7. Loose ends on valuation.
III - Relative Valuation
1. The Essence of relative valuation
2. The Market Imperative
3. Standardized values and multiples.
4.Four basic steps to using multiples.
5. Reconciling relative and DCF valuation
IV - Contingent Claim Valuation: real options
1. Option valuation
2. Options in investment analysis
3. Real options in valuation.

Evaluation Methodology
- Written Test: 60%
- Critical literature review:32,5%
- In-Class performance: 7.5%

Bibliography
- Damodaran, A. (2012). Investment Valuation, 3 ed.. U.S.A.: Wiley
- Damodaran, A. (2015). Applied Corporate Finance. U.S.A.: Wiley

Teaching Method
Lectures supported by audiovisual resources and resolution of practical cases. Critical literature review.

Software used in class
Excel

 

 

 


<< back to Curriculum Plan
NP4552
Financiamento
KreativEu
erasmus
catedra
b-on
portugal2020
centro2020
compete2020
crusoe
fct
feder
fse
poch
portugal2030
poseur
prr
santander
republica
UE next generation
Centro 2030
Lisboa 2020
co-financiado