Universität Wien

040569 KU Valuation (MA) (2020S)

4.00 ECTS (2.00 SWS), SPL 4 - Wirtschaftswissenschaften
Continuous assessment of course work

Summary

Registration/Deregistration

Note: The time of your registration within the registration period has no effect on the allocation of places (no first come, first served).
Registration information is available for each group.

Groups

Group 1

max. 50 participants
Language: English
LMS: Moodle

Lecturers

Classes (iCal) - next class is marked with N

Dear Students!
During the Corona Crisis the teaching will take place via Moodle and Zoom support.

Wednesday 04.03.2020 13:15 - 16:30 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock 02.314
Wednesday 18.03.2020 13:15 - 16:30 Zoom
Wednesday 01.04.2020 13:15 - 16:30 Zoom
Wednesday 22.04.2020 13:15 - 16:30 Zoom
Wednesday 29.04.2020 13:15 - 16:30 Zoom
Wednesday 06.05.2020 13:15 - 16:30 Exam (Moodle)
Wednesday 27.05.2020 13:15 - 16:30 KPMG Office

Optional Q&A sessions:
Thursday 23.04.2020 13:15 - 14:45 Zoom
Thursday 30.04.2020 13:15 - 14:45 Zoom

The course is limited for students in the Master Banking & Finance. All other Master students are first on the waiting list. Please come to the first course unit.

Wednesday 04.03. 13:15 - 16:30 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
Wednesday 11.03. 13:15 - 16:30 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
Wednesday 18.03. 13:15 - 16:30 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
Wednesday 25.03. 13:15 - 16:30 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
Wednesday 01.04. 13:15 - 16:30 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
Wednesday 22.04. 13:15 - 16:30 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock

Minimum requirements and assessment criteria

The evaluation will be based on the following items: in-class participation (10%); case studies (50%) and exam (40%).

The case delivered by KPMG is also part of the assessment.

Attendance is COMPULSORY.

The pass grade is 50 %, but you should get at least 50% in each part in order to successfully complete the course.

Group 2

max. 50 participants
Language: English
LMS: Moodle

Lecturers

Classes (iCal) - next class is marked with N

Dear Students!
During the Corona Crisis the teaching will take place via Moodle and Zoom support.

Wednesday 04.03.2020 16:45 - 20:00 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock 02.314
Wednesday 18.03.2020 13:15 - 16:30 Zoom
Wednesday 01.04.2020 13:15 - 16:30 Zoom
Wednesday 22.04.2020 16:45 - 20:00 Zoom
Wednesday 29.04.2020 16:45 - 20:00 Zoom
Wednesday 06.05.2020 13:15 - 16:30 Exam (Moodle)
Wednesday 27.05.2020 09:15 -12:30 KPMG Office

Optional Q&A sessions:
Thursday 23.04.2020 13:15 - 14:45 Zoom
Thursday 30.04.2020 13:15 - 14:45 Zoom

The course is limited for students in the Master Banking & Finance. All other Master students are first on the waiting list. Please come to the first course unit.

Wednesday 04.03. 16:45 - 20:00 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
Wednesday 11.03. 16:45 - 20:00 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
Wednesday 18.03. 16:45 - 20:00 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
Wednesday 25.03. 16:45 - 20:00 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
Wednesday 01.04. 16:45 - 20:00 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock
Wednesday 22.04. 16:45 - 20:00 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock

Minimum requirements and assessment criteria

The evaluation will be based on the following items: moodle participation (10%); case studies (50%) and exam (40%).

The case delivered by KPMG is also part of the assessment.

Attendance is COMPULSORY.

The pass grade is 50 %, but you should get at least 50% in each part in order to successfully complete the course.

Information

Aims, contents and method of the course

This course focuses on methods to value firms and/or individual projects. We will cover two alternative approaches to valuation:
discounted cash flow valuation and relative valuation.

We start with an in-depth analysis of the discounted cash flow method and its practical implementation. More specifically we will discuss various versions of discounted cash flow models, including the discounted free cash flow model, discounted capital cash flow model, and adjusted present value model. We will also discuss how various inputs required by those valuation models can be obtained from historical data. In particular we will discuss how to forecast future cash flows, calculate residual values and derive appropriate discount rates.

The relative valuation approach estimates the value of a firm by looking at the pricing of "comparable" firms relative to a common variable such as earnings, cash flows or book equities. We will discuss pros and cons of this popular valuation method.

The course provides you with hands-on experience in valuation. The collaboration with KPMG gives a unique opportunity to share and defend your ideas in front of a top management (a skill, which is extremely valuable for your future jobs/interviews).

The course will be a mixture of lectures and case studies.

CASES

Case Studies:

(1) Harvard Business School
Debt Policy at UST Inc. N.9-200-069
(2) Harvard Business School
Kohler Co. N. 9-205-034
(3) Real Case Study from KPMG

Assessment and permitted materials

• This course emphasizes both theoretical analysis and practical applications.
• Working language is English.
• Students are required to come to classes, read all cases and actively participate in the discussions.
• There will be 3 case preparations (one non-graded, two graded).
Cases must be handed in on time. No credit will be given for late cases.
• You are encouraged to meet in groups to discuss and analyze the cases. In the past, students have found that these groups complement the class discussion well.

Examination topics

Reading list


Association in the course directory

Last modified: Mo 07.09.2020 15:19