Corporate Valuation

Introduction

The main objective of this course is to provide students with the tools to carry out a business valuation using residual income valuation techniques.

We study the actual financial statements of publicly-traded companies in the assignments that we discuss in class. The course combines accounting principles and investment principles to answer the question: How do I account for value so that I can challenge stock prices with some confidence?

Course content

• Introduction to investing and valuation
• Accounting quality analysis
• Reformulation of  financial statements
• Valuation using multiples
• Residual income valuation models
• Analysis of risk and return
• Forecasting analysis
• Writing an equity reserach report