シラバス参照

開講年度(Academic Year) 2021 
科目コード/科目名
(Course Code / Course Title)
KN171/Strategic Financial Management 
テーマ/サブタイトル等
(Theme / Subtitle)
Introduction to Financial Valuation 
担当者 (Instructor) 竹澤 伸哉(TAKEZAWA NOBUYA)
本合 暁詩(HONGO AKASHI) 
時間割 (Class Schedule) 春学期2 (Spring Semester 2) 火曜日(Tue) 4時限(Period 4) 7201(Room)
春学期2 (Spring Semester 2) 火曜日(Tue) 5時限(Period 5) 7201(Room)
単位 (Credit) 2単位(2 Credits) 
科目ナンバリング
(Course Number)
MIB6201 
使用言語
(Language)
英語
(English) 
備考 (Notes)  
テキスト用コード (Text Code) KN171 



授業の
目標
Course
Objectives
The course provides an overview of financial valuation (enterprise valuation). By the end of the term you should:
1) be better equipped to understand & appreciate the role of financial valuation in strategic management decisions.
2) better understand the link between financial models and business (models).
3) be able to critically examine a valuation report produced by an investment bank (or other financial institution) for M&A, IPOs, etc.
4) be able to undertake a “preliminary valuation” of a business on your own using EXCEL. 
 
授業の
内容
Course
Contents
The course is an introduction to enterprise valuation in the context of discounted cash flow analysis using WACC as well as variations on this theme including multiples and economic value added (EVA). The course will require students to undertake valuation exercises using spreadsheets and a project using EVA. This is an intensive Quarter 2 course; students must be prepared to discuss reading for each class. 
 
授業計画
Course
Schedule
1. Review of Basic Concepts: Weighted Average Cost of Capital and Free Cash Flow 
2. Multiples Based Valuation 
3. Multiples Valuation: Case 
4. WACC and Enterprise Valuation 
5. WACC and Valuation: Spreadsheet Exercise 
6. WACC and Valuation; Spreadsheet Exercise 
7. Economic Value Added (EVA): Theory and Framework 
8. Economic Value Added (EVA): Theory and Framework 
9. EVA: Applications and Case 
10. EVA: Applications and Case 
11. EVA: Project Workshop 
12. EVA: Project Workshop 
13. Project Presentation 
14. Project Presentation 
授業時間外
(予習・復習
等)の学習
Study
Required
Outside
of Class
Detailed course outline distributed during first week of class via Blackboard. Notes posted on Blackboard. Case readings distributed in-class. 
成績評価
方法・基準
Evaluation
種類(Kind) 割合(%) 基準(Criteria)
平常点(In-class Points) 100  %
Participation (including in-class exercises and case discussion)(30%) 、Spreadsheet Assignment (individual)(15%) 、Midterm Test(15%) 、Final Presentation (group)(10%) 、Final Report (individual)(30%)
備考(Notes)
Assessment will be announced in class and posted on Blackboard.
テキスト
Textbooks
No 著者名
(Author/Editor)
書籍名
(Title)
出版社
(Publisher)
出版年
(Date)
ISBN/ISSN
1. Akashi Hongo  A Bilingual Introduction to Valuation   Chuo Keizai  2019  978-4-502-31671-5 
その他(Others)
参考文献
Readings
No 著者名
(Author/Editor)
書籍名
(Title)
出版社
(Publisher)
出版年
(Date)
ISBN/ISSN
1. Aswath Damodaran  The Dark Side of Valuation 3rd ed   Pearson FT Press     
2. Aswath Damodaran  Narrative and Numbers: The Value of Stories in Business   Columbia University Press     
3. Stephan Penman  Accounting for Value   Columbia U. Press     
4. Akashi Hongo  A Bilingual Introduction to Corporate Finance   Chuo Keizai     
5. G. Bennett Stewart III  Best Practice EVA   Wiley     
その他(Others)
その他
(HP等)
Others
(e.g. HP)
Prerequisite: MIB Module 5 (Finance & Financial Accounting) or equivalent. Familiarity with EXCEL required. We hope to invite a guest speaker in which case the schedule will be slightly revised and announced in class & Blackboard. This course will be held primarily online. 
注意事項
Notice
 


PAGE TOP