1. COURSE OBJECTIVES
This course provides knowledge about firm and asset valuations. Besides, students will be equipped with analysis and valuation skills to valuate different types of firms and firm assets. Once completing this course, students will be able to understand different approaches to firm and asset valuation and apply different valuation methods and models in valuing various types of firms (public, private firms, start-up firms, financial service firms…) and firm assets (tangible, intangible assets, real estates, franchise, trademarks, copyrights, licenses…).
2. COURSE CONTENT
|
No. |
Content |
Time Allocation |
Contribution to CLO |
|||
|
Hour(s) on the class |
Essays, exercise, Assignments |
Self-study with teacher’s tutorials |
||||
|
Lecture |
Practice, Seminar |
|||||
|
1 |
Chapter 1. Introduction to valuation |
2 |
1 |
1.5 |
5.5 |
1,2,5,6,7,8,9 |
|
2-3 |
Chapter 2: Approaches to valuation |
4 |
2 |
3 |
11 |
1,2,5,6,7,8,9 |
|
4-5 |
Chapter 3: Asset measurement and valuation |
4 |
2 |
3 |
11 |
1,2,5,6,7,8,9 |
|
6 |
Chapter 4: Dividend discount models |
2 |
1 |
1.5 |
5.5 |
2,3,5,6,7,8,9 |
|
7 |
Chapter 5: Free cash flow to equity models |
2 |
1 |
1.5 |
5.5 |
2,3,5,6,7,8,9 |
|
8 |
Chapter 6: Cost of capital and adjusted present value (APV) approaches |
2 |
1 |
1.5 |
5.5 |
2,3,5,6,7,8,9 |
|
9 |
Chapter 7: Earnings multiples |
2 |
1 |
1.5 |
5.5 |
2,3,5,6,7,8,9 |
|
10 |
Chapter 8: Book value multiples Mid-term test |
2 |
1 |
1.5 |
5.5 |
2,3,5,6,7,8,9 |
|
11 |
Chapter 9: Valuing financial service firms |
2 |
1 |
1.5 |
5.5 |
4,6,7,8,9 |
|
12 |
Chapter 10: Valuing firms with negative earnings |
2 |
1 |
1.5 |
5.5 |
4,6,7,8,9 |
|
13 |
Chapter 11: Valuing young and start-up firms |
2 |
1 |
1.5 |
5.5 |
4,6,7,8,9 |
|
14 |
Chapter 12: Valuing private firms |
2 |
1 |
1.5 |
5.5 |
4,6,7,8,9 |
|
15 |
Chapter 13: Valuing other assets |
2 |
1 |
1.5 |
5.5 |
4,6,7,8,9 |
|
Total |
30 |
15 |
22.5 |
82.5 |
||
3. COURSE ASSESSMENT
– Score ladder: 10
– Type of assessment
|
Form |
Content |
Criteria |
CLO |
Proportion |
|
|
Formative |
Attendance |
|
The number of attendances and participation in lesson (minimum of 5 times) |
1,7,8,9 |
10% |
|
Midterm exam |
Issues have been studied (Chapter 1-8) |
Written exam |
1,2,3,5,6,7,8,9 |
30% |
|
|
Summative |
Final test |
Issues have been studied |
Written exam |
1-9 |
60% |
|
|
|
|
Total: |
100% |
|