Бакалавриат 2021/2022

Оценка бизнеса

Статус: Курс по выбору (Мировая экономика)

Направление: 38.03.01. Экономика

Кто читает: Департамент мировой экономики

Где читается: Факультет мировой экономики и мировой политики

Когда читается: 4-й курс, 3 модуль

Формат изучения: с онлайн-курсом

Охват аудитории: для всех кампусов НИУ ВШЭ

Преподаватели: Макарова Екатерина Александровна

Язык: английский

Кредиты: 4

Контактные часы: 34

Course Syllabus

Abstract

The course “Business valuation” focuses on the main valuation methods and techniques used to determine the real value of a firm. The course is aimed to improve students’ skills to analyze financial statements of a company and to determine its price. It would let students understand how to distinguish value creation from value destruction and how to select the appropriate method of business valuation for any given situation. The course also touches upon the key principles of valuation for insolvency proceedings, for IPO and M&A and cross-country comparison of valuation legislation and standards. The special issue analyzed within the course is Value creation. It covers such questions as fundamentals of corporate and equity valuation; principles of portfolio analysis; corporate real options. Case studies will be the main tool to learn practical applications of various valuation theories and instruments.

Learning Objectives

• to provide theoretical overview of key methods applied to value different types of business and assets;
• to improve students’ skills to analyze financial statements of a company and to determine its’ price
• to understand how to distinguish value creation from value destruction
• to understand how to select the appropriate method of business valuation for any given situation

Expected Learning Outcomes

• Can choose correct methods and instruments for specific valuation cases.
• understand key features of the key approaches to valuation and can define the most commonly applied standards of value
• understand specific features of valuation process for different purposes

Course Contents

• Business valuation: basic concepts
• Using Financial Statements for valuation and analysis
• Valuation approaches and methods
• Value creation
• Valuation law and standards: cross-country comparison
• Special valuation issues
• Case study analysis

Assessment Elements

• (Quiz1+Quiz2+Quiz3+Quiz4+MOOC)/5
• Group project
• Final exam
• Valuation report

Interim Assessment

• 2021/2022 3rd module

Bibliography

Recommended Core Bibliography

• Financial analysis: collection of case studies: Учебное пособие / Казакова Н.А., Дун И.Р., Бобкова М.П. - М.:НИЦ ИНФРА-М, 2018. - 54 с.: 60x90 1/16 ISBN 978-5-16-106744-4 - Режим доступа: http://znanium.com/catalog/product/972205

Recommended Additional Bibliography

• Mard, M. J., Hyden, S. D., & Hitchner, J. R. (2007). Valuation for Financial Reporting : Fair Value Measurements and Reporting, Intangible Assets, Goodwill and Impairment (Vol. 2nd ed). Hoboken, N.J.: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=218516