Corporate Valuation

Introduction

The main objective of the course Corporate Valuation is to provide students with the tools to carry out 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