Credits: 6

Schedule: 25.02.2020 - 06.04.2020

Teacher in charge (valid 01.08.2018-31.07.2020): 

Michael Ungeheuer

Teaching Period (valid 01.08.2018-31.07.2020): 

IV (Spring 2019) Otaniemi campus

IV (Spring 2020) Otaniemi campus

Learning Outcomes (valid 01.08.2018-31.07.2020): 

After completing this course a student should understand how corporate strategy and operations are linked to corporate valuation, how to select the right valuation model for the task at hand, how to standardize financial statements, forecast financial statements in a spreadsheet program, and perform actual valuation. The student should also be able to fluently interpret, discuss, present, and understand the limitations of valuation results for strategic decision making.

Content (valid 01.08.2018-31.07.2020): 

Basic concepts of valuation, corporate strategy and operations as a source of value, interpreting and standardizing financial statements, forecasting financial statements, valuation models, empirical issues and special cases in valuation. Case exercises apply all of this knowledge to real-life valuation cases.

Assessment Methods and Criteria (valid 01.08.2018-31.07.2020): 

Cases and presentation of a case (35%)
Final valuation group project and its presentation (35%)
Exam (30%)

Workload (valid 01.08.2018-31.07.2020): 

Lectures, student-led case sessions, and group valuation project presentation 37 h
Independent work 122 h
Exam 3 h

Study Material (valid 01.08.2018-31.07.2020): 

Palepu Krishna G., Paul M. Healy and Erik Peek (2016) Business Analysis and Valuation – 4th, IFRS edition. ISBN-10: 1473722659 (Textbook, required reading)

Pinto Jerald E., Elaine Henry, Thomas R. Robinson and John D. Stowe (2015) Equity Asset Valuation, 3rd edition. ISBN: 978-1-119-10426-1 (Professional reference handbook, recommended reading)

Availability

Course Homepage (valid 01.08.2018-31.07.2020): 

MyCourses 28C00500 Capstone: Valuation

Prerequisites (valid 01.08.2018-31.07.2020): 

Introduction to Accounting, Introduction to Finance, Corporate Finance, Financial Markets and Institutions, Investment Management, and intermediate spreadsheet skills. Students may find it helpful to make this the last or almost last course of their B.Sc. degree. Aalto University or exchange students with less than three courses completed in finance are strongly discouraged from enrolling, although can do so at their own risk.

Grading Scale (valid 01.08.2018-31.07.2020): 

0-5

Registration for Courses (valid 01.08.2018-31.07.2020): 

Registration for course and exams via WebOodi. See the registration time in WebOodi.

For any registration related matter, please contact the department study coordinator.

Further Information (valid 01.08.2018-31.07.2020): 

Students of Aalto Finance B.Sc. Programme and exchange students with Finance specialization at their home university will be admitted to the course. All admitted students must have completed the above mentioned pre-requisites to be able to fluently complete the course. Maximum of 75 students will be accepted to the course. Late registration may not be possible so make sure to register in time.

Description

Registration and further information