Valuation of Firm and Projects

Garant předmětu:

Lecturer:

Tutor:

Supervisor:

Institute of Economic Studies

Synopsis:

The aim of the course is to acquaint students with the measurement and management of enterprise value so that they are able to make qualified estimate of the value of the company, depending on the stage of its life cycle, expected development and current financial condition. Students will learn about options of approaching the valuating and ensuing methods and gain skills in the application of basic methods. Practical skills will be acquired through case studies.

Requirements:

Corporate Finance.

Syllabus of lectures:

Value x price.

The firm as enterpreuner unit.

Valuation methods. Process of valuation.

The choice of method depending on the state of the company.

DCF methods.

Financial plan and its revisions.

DCF, FCFE, FCFF, EVA.

Discount rate, capital cost estimate.

Models - stable, two-phase, three-phase.

Sensitivity analysis.

Project as part of the company - approach to evaluation - analogy.

Syllabus of tutorials:

Analysis of the status of the company and its future..

Business plan, estimate of future development.

Going concern principle and determination FCFF, FCFE, EVA.

Application of a two-phase model.

Sensitivity analysis.

Investment project - the methods for value of projects.

Study Objective:

Upon successful completion of this course, students will be able

- to appoint the value of project and enterprise,

- to evaluate the reality of enterprise plan,

- to analyse sensitivity of the value to input parameters,

- to evaluate the risk profile of the investment.

Study materials:

Note:

Further information:

No time-table has been prepared for this course

The course is a part of the following study plans:

• N-PRI-prez.forma od 15/16 (compulsory elective course)
• N-RRP-prez.forma od 15/16 (compulsory elective course)
• N-PRI-prez.forma od 16/17 (compulsory elective course)
• N-PRI-prez.forma od 17/18 (compulsory elective course)
• N-PRI-CP prezenční navazující studium od 18/19 (compulsory elective course)
• N-PRI-CP prezenční navazující studium od 19/20 Project management (compulsory elective course)
• N-PRI-CP prezenční navazující studium od 19/20 Financial Management (compulsory elective course)
• N-PRI-CP prezenční navazující studium od 19/20 Process Management (compulsory elective course)
• N-PRI-CP prezenční navazující studium od 19/20 Regional Studies (compulsory elective course)
• N-PRI-CP prezenční navazující studium od 19/20 Logistics (compulsory elective course)