Chair of Finance

MIM - Master in Management

Advanced Corporate Finance 1 (Firm Valuation)

Instructor: Prof. Dr. Ulrich Pape

Course Content

Fundamentals of corporate finance 

• Principles of corporate finance
• Valuation of financial instruments and non-financial assets
• Risk, return, and cost of capital

Fundamentals of firm valuation

• Motives, functions, and principles of valuation
• Classification of firm valuation techniques
• Asset-based valuation models
• Future-oriented valuation techniques
• Comparative firm valuation

Selected valuation techniques

• Multiple valuation with equity and entity multiples
• Discounted cashflow analysis

Value based management

• Fundamentals of value based management
• Concepts of residual income
• Economic Value Added (EVA)

Literature

• Brealey, R./ Myers, St./ Allen, F.: Principles of Corporate Finance, 9. Auflage, New York et al. 2008.
• Koller, T./ Goedhart, M./ Wessels, D.: Valuation – Measuring and Managing the Value of Companies, 4th ed., Wiley, New York et al. 2005.
• Pape, U.: Grundlagen der Finanzierung und Investition, Oldenbourg, München/ Wien 2009.
• Pape, U.: Wertorientierte Unternehmensführung, 4. Auflage, Wissenschaft & Praxis, Sternenfels 2010.
• Perridon, L./ Steiner, M.: Finanzwirtschaft der Unternehmung, 15. Auflage, München 2009.
• Schmidt, R.H./ Terberger, E.: Grundzüge der Investitions- und Finanzierungstheorie, 4. Auflage, Wiesbaden 1997.
• Steiner, M./ Bruns, C.: Wertpapiermanagement, 9. Auflage, Stuttgart 2007.