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1. COURSE OBJECTIVES
This course provides knowledge about firm and asset valuations. Besides, students will be equipped with analysis and valuation skills to valuate different types of firms and firm assets. Once completing this course, students will be able to understand different approaches to firm and asset valuation and apply different valuation methods and models in valuing various types of firms (public, private firms, start-up firms, financial service firms...) and firm assets (tangible, intangible assets, real estates, franchise, trademarks, copyrights, licenses...).
2. COURSE CONTENT
No.
Content
Time Allocation
Contribution to CLO
Hour(s) on the class
Essays, exercise,
Assignments
Self-study with teacher’s tutorials
Lecture
Practice, Seminar
1
Chapter 1. Introduction to valuation
2
1
1.5
5.5
1,2,5,6,7,8,9
2-3
Chapter 2: Approaches to
valuation
4
2
3
11
1,2,5,6,7,8,9
4-5
Chapter 3: Asset measurement and
valuation
4
2
3
11
1,2,5,6,7,8,9
6
Chapter 4: Dividend discount models
2
1
1.5
5.5
2,3,5,6,7,8,9
7
Chapter 5: Free cash flow to equity models
2
1
1.5
5.5
2,3,5,6,7,8,9
8
Chapter 6: Cost of capital and adjusted present value (APV) approaches
2
1
1.5
5.5
2,3,5,6,7,8,9
9
Chapter 7: Earnings multiples
2
1
1.5
5.5
2,3,5,6,7,8,9
10
Chapter 8: Book value multiples Mid-term test
2
1
1.5
5.5
2,3,5,6,7,8,9
11
Chapter 9: Valuing financial service firms
2
1
1.5
5.5
4,6,7,8,9
12
Chapter 10: Valuing firms with negative earnings
2
1
1.5
5.5
4,6,7,8,9
13
Chapter 11: Valuing young and
start-up firms
2
1
1.5
5.5
4,6,7,8,9
14
Chapter 12: Valuing private firms
2
1
1.5
5.5
4,6,7,8,9
15
Chapter 13: Valuing other assets
2
1
1.5
5.5
4,6,7,8,9
Total
30
15
22.5
82.5
3. COURSE ASSESSMENT
- Score ladder: 10
- Type of assessment
Form
Content
Criteria
CLO
Proportion
Formative
Attendance
The number of attendances and participation in lesson (minimum of 5 times)
1,7,8,9
10%
Midterm exam
Issues have been studied (Chapter 1-8)
Written exam
1,2,3,5,6,7,8,9
30%
Summative
Final test
Issues have been studied
Written exam
1-9
60%
Total:
100%