Corporate Valuation

Introduction

The main objective of the course Corporate Valuation is to provide students with the tools to carry out a business valuation using (mainly) residual income valuation techniques. 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 corporate valuation
• Overview over different valuation methods
• Residual income valuation models
• Valuation and active investing
• Assessment of earnings management
• The role of incentive-useful information for valuation
• Value relevance of accounting information
• Writing a valuation research report