Terminated in academic year 2021/2022

Valuation and Aquisitions

Type of study	Follow-up Master
Language of instruction	Czech
Code	154-0322/03
Abbreviation	OA
Course title	Valuation and Aquisitions
Credits	4
Coordinating department	Department of Finance
Course coordinator	prof. Dr. Ing. Dana Dluhošová

Subject syllabus

1. Theoretical fundamentals of valuation.
2. Fundamental approach at the company valuation.
3. Strategic analysis (forecasting of sales).
4. Financial analysis as a part of the company valuation.
5. Costs of capital for valuation purposes. Valuation on the terms of risk (Risk Adjusted Cost of Capital, RACC, Certainty Equivalent Method, CEM).
6. Strategic financial plan.
7. Property valuation. Substance method.
8. Discounted cash flow valuation methods, multi-step DCF valuation.
9. Capitalized net earnings method.
10.Economic value added method.
11. Other valuation methods.
12. Real options.
13. Mergers and acquisitions, synergy valuations.

Literature

FABOZZI, F. J., MARKOWITZ, H. (2011). The Theory and Practice of Investment Management: Asset Allocation, Valuation, Portfolio Construction, and Strategies. New Jersey: J. Wiley.
HITCHNER, J. R. (2011). Financial Valuation: Applications and Models. 3rd ed. New Jersey: J. Wiley.
KOLLER, T., GOEDHART, M., WESSELS, D. (2010). Valuation: Measuring and Managing the Value of Companies. 5th ed. New Jersey: Wiley.
MCMILLAN, M. G. et al. (2011). Investments: Principles of Portfolio and Equity Analysis. 1st ed. New York: Wiley.

Advised literature

DAMODARAN, Aswath. Damodaran on Valuation. Security Analysis for Investment and Corporate Finance. USA: John Wiley & Sons, Inc., 1994. 417 s. .

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