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Valuation and M&A -F-

Kurs ID
FIN615
Art des Kurses
MSc Kurs
Wochenstunden
2,5
ECTS
5.0
Semester
HS 2021
Vortragssprache
Englisch
Vortragende/r
Prof. Dr. Nihat Aktas
Bitte beachten Sie, dass AustauschstudentInnen im BSc-Programm der WHU eine höhere Anzahl an Credits erwerben als hier aufgeführt. Für weitere Informationen wenden Sie sich bitte direkt an das [International Relations Office].
The objective of this course is to provide an overview of different approaches to valuation, with a particular focus on Discounted Cash Flow (DCF) valuation. A special attention is given to the theoretical underpinnings of the discount rate used in the DCF approach (i.e., the cost of financing: from cost of equity and cost of debt to cost of capital) and to its derivation. In addition, relative valuation models (multiples) and specific topics such as valuing private companies and
takeover valuation will be discussed.
Date Time
Tuesday, 26.10.2021 13:45 - 20:30
Wednesday, 10.11.2021 13:45 - 18:45
Wednesday, 17.11.2021 15:30 - 20:30
Wednesday, 24.11.2021 09:45 - 13:00
Wednesday, 08.12.2021 09:00 - 18:00
Wednesday, 08.12.2021 09:00 - 18:00
Wednesday, 08.12.2021 16:00 - 22:00
Tuesday, 14.12.2021 09:00 - 10:30
Students are expected to take a very active role in their learning. The course relies on interactive lessons, and includes transmitting problem‐centered information, collaborative learning in small groups, case studies, and testimony from practitioners.
Damodaran, Aswath, 2012. Investment valuation: Tools and techniques for determining the value of any asset. Wiley Finance, 3rd edition.
Students are expected to take a very active role in their learning. The course relies on interactive lessons and includes transmitting problem-centered information, collaborative learning in groups, case studies and outside speakers.

The course includes a one-day case study challenge together with the M&A advisory team of the Commerzbank AG.

  • Written examination
  • Presentation/Seminar Papers

- 40% of the final grade are based on a group project
- 60% of the final grade are based on the result in the exam

150
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