37729 - FINANCE LABORATORY

Conoscenze e abilità da conseguire

The student can face the main topics in valuations, as the determination of the free cash flows, the company's cost of capital and the main multiples adopted. After analysing some some case of studies, he is able to understand how theory can be practically applied.

Contenuti

Business Plan analysis

Cash Flow determinants

Pricing Risk in company valuation

Life cycle of a company

Enterprise Value vs Equity Value

Company Valuation Methodologies:

• Sum of the parts - asset valuation
• Economic Value Added
• Discounted Cash Flow
• Relative valuation:
  • Market multiples
  • Transaction multiples

Testi/Bibliografia

The Dark Side of Valuation - Aswath Damodaran

Valutazione - Fondamenti teorici e best practice nel settore industriale e finanziario - Massari/Zanetti

Metodi didattici

A good knowledge of balance sheet analysis is a pre-requisite to fully take advantage of the course.

The lessons will have a theoretical part always followed by a more practical session where the student will tackle himself with applying to case studies the valuation tools made available.

A tutor has also been assigned to this course. Her name is Beatrice Vitali (beatrice.vitali8@unibo.it) and she is responsible for coordinating the components of the integrated course and assisting students with related issues.

Modalità di verifica e valutazione dell'apprendimento

A written exam will be held at the end of the course.

The exam will consist in the solution of a simplified valuation case study. The student will be required to assess the business plan in its major drivers, choose the proper valuation methodology and apply it coherently given the information made available.

During the course will be organized group works and will be held simulations.

Strumenti a supporto della didattica

Slides and Case Studies will be made available during lessons. a mailing list will be created for distribution

Orario di ricevimento

Consulta il sito web di Antonio Angelillo