À propos de ce cours
4.9
157 notes
47 avis

100 % en ligne

Commencez dès maintenant et apprenez aux horaires qui vous conviennent.

Dates limites flexibles

Réinitialisez les dates limites selon votre disponibilité.

Niveau avancé

Approx. 23 heures pour terminer

Recommandé : The course consists of 4 weeks only. The estimated workload is 2-5 hours per week....

Anglais

Sous-titres : Anglais, Espagnol

100 % en ligne

Commencez dès maintenant et apprenez aux horaires qui vous conviennent.

Dates limites flexibles

Réinitialisez les dates limites selon votre disponibilité.

Niveau avancé

Approx. 23 heures pour terminer

Recommandé : The course consists of 4 weeks only. The estimated workload is 2-5 hours per week....

Anglais

Sous-titres : Anglais, Espagnol

Programme du cours : ce que vous apprendrez dans ce cours

Semaine
1
1 heure pour terminer

Executive Summary

Welcome! My name is Han Smit, I am Professor of Corporate Finance at Erasmus School of Economics. I will be your lecturer, and together with my team, Dyaran Bansraj and Nishad Matawlie, we are going to take you on a fascinating journey that may change the way you make strategic investment decisions. This executive level course consists of a series of accessible animation videos. Step by step we develop the conceptual frameworks and new valuation principles for strategic investments that are difficult to value with traditional tools. These new valuation methods can be particularly interesting for venture capitalists, private equity investors, investment bankers, CEOs, and CFOs. This executive level course is meant for those who want to be updated on the latest insights in corporate strategy and valuation techniques. You can walk through the fundamentals of the course in less than a week! If you wish to follow the student level, you can skip this week (don't worry, you won't miss out on anything)!...
6 vidéos (Total 18 min), 1 lecture, 1 quiz
6 vidéos
Animation - Where value comes from2 min
Animation - The value of flexibility2 min
Animation - Real options are everywhere!2 min
Animation - The value of strategic commitment2 min
Animation - Option Games: Integrating flexibility and strategic commitment3 min
1 lecture
Outline5 min
1 exercice pour s'entraîner
Understanding expanded net present value24 min
Semaine
2
5 heures pour terminer

Discounted Cash Flow Analysis

We show you how to apply DCF approaches and provide case applications illustrating the powerful potential of this valuation methodology. We consider historical analysis, the estimation of free cash flows, various DCF approaches, and multiples valuation. In the assignments we consider specialized topics such as the valuation of leveraged buyouts. After this module you will be familiar with DCF approaches and will be able to relate them to strategy. ...
7 vidéos (Total 59 min), 4 lectures, 4 quiz
7 vidéos
When to use DCF approaches7 min
Forecasting free cash flows based on historical performance8 min
Calculating free cash flows10 min
Calculating the terminal value9 min
Answer to practice quiz 'WACC method'9 min
Using multiples valuation9 min
4 lectures
Key value driver derivation (optional)10 min
Answer to practice quiz 'APV Method'10 min
Types of multiples15 min
The case of RJR Nabisco10 min
3 exercices pour s'entraîner
WACC Method30 min
APV Method30 min
Test for certificate45 min
Semaine
3
2 heures pour terminer

Corporate Strategy

This module closes the gap between traditional corporate finance and strategic planning by linking corporate strategy to the market value. We can assess the value of a company through the expanded NPV criterion, which is able to capture the value of the firm's growth options. We review various strategic paradigms that analyze the underlying sources of this growth option value, focusing on industry analysis, firms' internal resources and dynamic capabilities. After this module you will be able to recognise the strategic growth option value in the market value of a company....
3 vidéos (Total 20 min), 2 lectures, 3 quiz
3 vidéos
How to estimate growth option value6 min
Strategic paradigms and growth option value10 min
2 lectures
Linking valuation to strategy10 min
Economic value added (EVA)10 min
2 exercices pour s'entraîner
Corporate strategy30 min
Test for certificate45 min
Semaine
4
4 heures pour terminer

Corporate Real Options

This module reviews the basic concepts and valuation principles of real options. Real options theory quantifies decision making under uncertainty and stresses the importance of wait-and-see flexibility, suggesting that managers should wait until major uncertainties are resolved and the project is more clearly beneficial. Since it recognizes that investments tend to be sequentially related over time, real options analysis is particularly suitable for valuing strategies in addition to isolated projects. After this module you will be able to quantify the flexibility component of the strategic growth option value. This is an important capability when valuing high-tech companies....
11 vidéos (Total 81 min), 5 quiz
11 vidéos
Animation - Real options are everywhere!2 min
Timing option5 min
Risk neutral valuation6 min
Valuing an R&D project10 min
Option to expand or contract7 min
Answer to practice quiz 'Option to invest'9 min
Answer to practice quiz 'Option to expand or contract'5 min
Answer to practice quiz 'Option to abandon'6 min
Option replication and risk neutral valuation13 min
Multi-period, continuous, and compound models9 min
4 exercices pour s'entraîner
Option to invest15 min
Option to expand or contract10 min
Option to abandon10 min
Test for certificate45 min
4.9
47 avisChevron Right

Meilleurs avis

par BBJan 18th 2019

Great course for those that work and want a solid overview of important valuation material. More advanced content than in other courses and very helpful instructors!

par DDJan 31st 2019

Very advanced course in corporate valuation and in corporate strategy. Having a good understanding of basic corporate finance topics is recommended.

Enseignants

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Han Smit

Professor of Corporate Finance
Finance
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Dyaran Bansraj

Lecturer
Finance
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Nishad Matawlie

Lecturer
Finance

À propos de Université Érasme de Rotterdam

Erasmus University: a top-100 ranked international research university based in Rotterdam, the Netherlands. Our academic teaching and research focuses on four areas: health, wealth, culture and governance. Erasmus University Rotterdam: make it happen. ...

Foire Aux Questions

  • Une fois que vous êtes inscrit(e) pour un Certificat, vous pouvez accéder à toutes les vidéos de cours, et à tous les quiz et exercices de programmation (le cas échéant). Vous pouvez soumettre des devoirs à examiner par vos pairs et en examiner vous-même uniquement après le début de votre session. Si vous préférez explorer le cours sans l'acheter, vous ne serez peut-être pas en mesure d'accéder à certains devoirs.

  • Lorsque vous achetez un Certificat, vous bénéficiez d'un accès à tout le contenu du cours, y compris les devoirs notés. Lorsque vous avez terminé et réussi le cours, votre Certificat électronique est ajouté à votre page Accomplissements. À partir de cette page, vous pouvez imprimer votre Certificat ou l'ajouter à votre profil LinkedIn. Si vous souhaitez seulement lire et visualiser le contenu du cours, vous pouvez accéder gratuitement au cours en tant qu'auditeur libre.

  • You can follow the MOOC without studying additional sources. Further reading of the discussed topics, including the Building Blocks) is provided in the textbook that I wrote with Lenos Trigeorgis: Strategic Investment: Real Options and Games, Princeton University Press, E-book ISBN9781400829392

  • In four weeks, we review the four most important foundations in valuation and strategy: corporate valuation, strategic management and growth option value, corporate real options, and game theory. If you don't have four weeks, you can also follow the course at your own pace. The full course content will be available from the start!

  • Yes you can!

D'autres questions ? Visitez le Centre d'Aide pour les Etudiants.