BUFN750 syllabus
BUFUN 750: Valuation in Corporate Finance
(DC Campus)
Fall, 2013
PROFESSOR
Liu Yang (lyang@rhsmith.umd.edu)
OFFICE
VMH 4420
CLASS TIME
Wednesdays 2 – 5:35 pm (DC1)
OFFICE HOUR
Fridays 2:30 – 3:30 pm or by appointment
TA
Tao Wang (tao.wang@rhsmith.umd.edu)
G. Austin Starkweather (astark@rhsmith.umd.edu)
TA OFFICE HOUR Mondays 1 – 2pm (VMH 3330G)
Fridays 10 – 11am (VMH 4440)
COURSE
PREREQUISITE
COURSE
MATERIAL
BUSI 640 or equivalent
The required text for this class is Damodaran on Valuation by
Aswath Damodaran (2nd Edition, ISBN: 9780471751212)
We will also use Corporate Finance (Berk and Demarzo) as a reference. The link to the HBS Case Course Pack is : https://cb.hbsp.harvard.edu/cbmp/access/22508523 I will post lecture notes on Canvas before class, and please bring a hard copy of the notes with you to class.
BUFN 750 Valuation
Page 1
COURSE OVERVIEW
There is no major corporate investment decision that can be made without first asking and answering the question - “What is it worth?” The goal of this course is to build your skills and confidence in answering that question. It will acquaint you with the widely-used ideas that have revolutionized the practice of valuation during the past few decades.
We will begin with an overview of two commonly used approaches that build the foundation of all valuation – the intrinsic valuation and the relative valuation. We will explore two types of discounted cash flow models – the WACC-based approach and the Adjusted Present Value approach. We will also discuss the implementation and limits of the market multiples method, and establish the link between the intrinsic and relative valuation.
The bulk of the course will be spent applying these methods to practice in various valuation scenarios.
We will discuss standard-alone firm valuation, valuation for IPOs, and valuation for mergers and acquisitions. We will also introduce the method of Monte-Carlo
(DC Campus)
Fall, 2013
PROFESSOR
Liu Yang (lyang@rhsmith.umd.edu)
OFFICE
VMH 4420
CLASS TIME
Wednesdays 2 – 5:35 pm (DC1)
OFFICE HOUR
Fridays 2:30 – 3:30 pm or by appointment
TA
Tao Wang (tao.wang@rhsmith.umd.edu)
G. Austin Starkweather (astark@rhsmith.umd.edu)
TA OFFICE HOUR Mondays 1 – 2pm (VMH 3330G)
Fridays 10 – 11am (VMH 4440)
COURSE
PREREQUISITE
COURSE
MATERIAL
BUSI 640 or equivalent
The required text for this class is Damodaran on Valuation by
Aswath Damodaran (2nd Edition, ISBN: 9780471751212)
We will also use Corporate Finance (Berk and Demarzo) as a reference. The link to the HBS Case Course Pack is : https://cb.hbsp.harvard.edu/cbmp/access/22508523 I will post lecture notes on Canvas before class, and please bring a hard copy of the notes with you to class.
BUFN 750 Valuation
Page 1
COURSE OVERVIEW
There is no major corporate investment decision that can be made without first asking and answering the question - “What is it worth?” The goal of this course is to build your skills and confidence in answering that question. It will acquaint you with the widely-used ideas that have revolutionized the practice of valuation during the past few decades.
We will begin with an overview of two commonly used approaches that build the foundation of all valuation – the intrinsic valuation and the relative valuation. We will explore two types of discounted cash flow models – the WACC-based approach and the Adjusted Present Value approach. We will also discuss the implementation and limits of the market multiples method, and establish the link between the intrinsic and relative valuation.
The bulk of the course will be spent applying these methods to practice in various valuation scenarios.
We will discuss standard-alone firm valuation, valuation for IPOs, and valuation for mergers and acquisitions. We will also introduce the method of Monte-Carlo