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Master courses

Corporate Valuation

This course is intended to provide you with the tools to carry out a business valuation using residual income valuation techniques.

We study the actual financial statements of publicly-traded companies in the assignments that we discuss in class. 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?

This course can be taken as part of the Master in accounting and auditing.

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

Practical information

Course plan