In this course, participants will develop an understanding of the intuitive foundations of asset and investment valuation, and how alternative valuation techniques may be used in practice. This is part of a Specialization in corporate finance created in partnership between the University of Melbourne and Bank of New York Mellon (BNY Mellon).
Ce cours fait partie de la Spécialisation Bases de la finance d'entreprise
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Spécialisation Bases de la finance d'entrepriseUniversité de MelbourneÀ propos de ce cours
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Cours 4 sur 5 dans le
Approx. 16 heures pour terminer
Anglais
Sous-titres : Français, Portugais (européen), Vietnamien, Russe, Anglais, Espagnol
Dates limites flexibles
Réinitialisez les dates limites selon votre disponibilité.
Certificat partageable
Obtenez un Certificat lorsque vous terminez
100 % en ligne
Commencez dès maintenant et apprenez aux horaires qui vous conviennent.
Cours 4 sur 5 dans le
Approx. 16 heures pour terminer
Anglais
Sous-titres : Français, Portugais (européen), Vietnamien, Russe, Anglais, Espagnol
Offert par
Université de Melbourne
The University of Melbourne is an internationally recognised research intensive University with a strong tradition of excellence in teaching, research, and community engagement. Established in 1853, it is Australia's second oldest University.
Programme de cours : ce que vous apprendrez dans ce cours
3 heures pour terminer
Defining Attitudes Towards and Alternative Measures of Risk
This week we will define a statistical measure of stand-alone risk as being the standard deviation of returns. We will describe three alternative attitudes towards risk, settling on risk aversion as being the standard assumption made in financial markets. We will then analyse the impact of combining assets into a portfolio upon both risk and return and then quantify the benefits from diversification by comparing performance against a suitable benchmark.
3 heures pour terminer
6 vidéos (Total 58 min), 7 lectures, 2 quiz
2 heures pour terminer
Linking risk with expected return
This week we differentiate between systematic and unsystematic risk and explain how the expected returns that are reflected in the prices of assets should be linked to only one type of risk. We illustrate how the Capital Asset Pricing Model might be used to link systematic risk with expected return and then discuss the empirical shortcomings of the model. This leads to a description of more advanced models and we conclude with a review of survey evidence that considers the approach taken by finance mangers of large listed firms in practice.
2 heures pour terminer
7 vidéos (Total 49 min), 1 lecture, 2 quiz
2 heures pour terminer
Using financial statement analysis to measure cost of capital
This week we will explain the logical underpinnings of the Weighted Average Cost of Capital Formula and show how it might be estimated in practice by a firm. We will also consider the many challenges that might be faced in using this approach to estimating hurdle rates and conclude with a warning about the perverse outcomes that might occur if the technique is used in a haphazard manner.
2 heures pour terminer
5 vidéos (Total 41 min), 1 lecture, 2 quiz
9 heures pour terminer
Addressing financial reality with real options analysis
This week we describe how standard NPV analysis might lead to incorrect decisions when we fail to account for the impact of (or upon) firm flexibility. We then describe the three most common types of real options that firms face in practice and then explain how decision trees might be used to arrive at an approximation of the value of the real option that is embedded within a project. We conclude by considering empirical evidence on the take-up of real options analysis and discuss the situations in which real options analysis might most be needed.
9 heures pour terminer
5 vidéos (Total 39 min), 4 lectures, 4 quiz
Avis
- 5 stars76,76 %
- 4 stars18,66 %
- 3 stars3,52 %
- 2 stars0,35 %
- 1 star0,70 %
Meilleurs avis pour APPROCHES ALTERNATIVES À L'ÉVALUATION ET À L'INVESTISSEMENT
par GG5 févr. 2016
The pinnacle of all of the course. Overall, the structure is very well established from course 1-4 in the specialization.
par HV4 janv. 2016
Wonderful course. It's having a great learning value.
par SV29 nov. 2018
The content in this course is more interesting than that of the previous three. This was my favourite course in the specialization.
par MG23 sept. 2018
Great course. This one really had so much to learn and helped in getting the big picture on risk and returns.
À propos du Spécialisation Bases de la finance d'entreprise
You will gain a firm understanding of corporate finance, including accounting principles and financial analysis, how value is created by global markets, the choices firms face when making financial decisions and defining attitudes towards risk. The Specialization concludes with a Capstone project that allows you to apply the skills you've learned throughout the courses.
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