日本語 English
| 開講年度/ Academic YearAcademic Year |
20242024 |
| 科目設置学部/ CollegeCollege |
経営学研究科/Graduate School of BusinessGraduate School of Business |
| 科目コード等/ Course CodeCourse Code |
KN171/KN171KN171 |
| テーマ・サブタイトル等/ Theme・SubtitleTheme・Subtitle |
Introduction to Financial Valuation |
| 授業形態/ Class FormatClass Format |
対面（全回対面）/Face to face (all classes are face-to-face)Face to face (all classes are face-to-face) |
| 授業形態（補足事項）/ Class Format (Supplementary Items)Class Format (Supplementary Items) |
|
| 授業形式/ Class StyleCampus |
講義/LectureLecture |
| 校地/ CampusCampus |
池袋/IkebukuroIkebukuro |
| 学期/ SemesterSemester |
春学期1/Spring Semester1Spring Semester1 |
| 曜日時限・教室/ DayPeriod・RoomDayPeriod・Room |
金4/Fri.4 Fri.4 , 金5/Fri.5, Fri.5 ログインして教室を表示する（Log in to view the classrooms.） |
| 単位/ CreditsCredits |
22 |
| 科目ナンバリング/ Course NumberCourse Number |
MIB6201 |
| 使用言語/ LanguageLanguage |
英語/EnglishEnglish |
| 履修登録方法/ Class Registration MethodClass Registration Method |
科目コード登録/Course Code RegistrationCourse Code Registration |
| 配当年次/ Assigned YearAssigned Year |
配当年次は開講学部のR Guideに掲載している科目表で確認してください。配当年次は開講学部のR Guideに掲載している科目表で確認してください。 |
| 先修規定/ Prerequisite RegulationsPrerequisite Regulations |
|
| 他学部履修可否/ Acceptance of Other CollegesAcceptance of Other Colleges |
履修登録システムの『他学部・他研究科履修不許可科目一覧』で確認してください。 |
| 履修中止可否/ Course CancellationCourse Cancellation |
－（履修中止制度なし/ No system for cancellation) |
| オンライン授業60単位制限対象科目/ Online Classes Subject to 60-Credit Upper LimitOnline Classes Subject to 60-Credit Upper Limit |
|
| 学位授与方針との関連/ Relationship with Degree PolicyRelationship with Degree Policy |
各授業科目は、学部・研究科の定める学位授与方針（DP）や教育課程編成の方針（CP）に基づき、カリキュラム上に配置されています。詳細はカリキュラム・マップで確認することができます。 |
| 備考/ NotesNotes |
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. This is especially useful for the MIB Final Research Project (FRP).
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. The course will require students to undertake valuation exercises and a mini research project using spreadsheets. Students must be prepared to discuss readings for each class.
This is an intensive Spring Quarter 1 course. You will need access to a stable internet connection in appropriate learning environment (including device) for select sessions. Special online zoom sessions will be announceed at least one week in advance.
| 1 | Overview: The Narrative |
| 2 | Multiples Based Valuation and DCF Valuation |
| 3 | Multiples Valuation: Case |
| 4 | Brief Introduction to History of M&A and Restructuring |
| 5 | WACC and Free Cash Flows |
| 6 | WACC and Enterprise Valuation |
| 7 | Valuation Workshop: Spreadsheet Exercise (Project) |
| 8 | Valuation Workshop: Spreadsheet Exercise (Project) |
| 9 | Case Exercise |
| 10 | Case Exercise |
| 11 | Project Consultation |
| 12 | Project Consultation |
| 13 | Presentations |
| 14 | Review and Wrap-up |
板書 /Writing on the Board
スライド（パワーポイント等）の使用 /Slides (PowerPoint, etc.)
上記以外の視聴覚教材の使用 /Audiovisual Materials Other than Those Listed Above
個人発表 /Individual Presentations
グループ発表 /Group Presentations
ディスカッション・ディベート /Discussion/Debate
実技・実習・実験 /Practicum/Experiments/Practical Training
学内の教室外施設の利用 /Use of On-Campus Facilities Outside the Classroom
校外実習・フィールドワーク /Field Work
上記いずれも用いない予定 /None of the above
Review assigned readings and notes each week. Work on weekly assignments and project.
| 種類 (Kind) | 割合 (%) | 基準 (Criteria) |
|---|---|---|
| 平常点 (In-class Points) | 100 |
Assignments(35%) Research Project(40%) Attendance and Participation(25%) |
| 備考 (Notes) | ||
| 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 | Pearson FT Press | ||
| 2 | Aswath Damodaran | Narrative and Numbers: The Value of Stories in Business | Columbia University Press | 2017 | 9780231180481 |
| 3 | Akashi Hongo | A Bilingual Introduction to Valuation | Chuo Keizai |
Prerequisite: MIB Module 5 (Finance & Financial Accounting) or equivalent. Familiarity with EXCEL required.
Students should have a PC notebook and/or pad with EXCEL and a stable access to the internet (from home).
We hope to invite a guest speaker in which case the schedule will be slightly revised. Detailed course outline posted on Canvas during the first week of class. Course schedule and content is subject to change (all changes/modifications will be posted on Canvas and announced in class). Students are expected to check Canvas and their Rikkyo email account on a regular basis for announcements.
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. This is especially useful for the MIB Final Research Project (FRP).
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. The course will require students to undertake valuation exercises and a mini research project using spreadsheets. Students must be prepared to discuss readings for each class.
This is an intensive Spring Quarter 1 course. You will need access to a stable internet connection in appropriate learning environment (including device) for select sessions. Special online zoom sessions will be announceed at least one week in advance.
| 1 | Overview: The Narrative |
| 2 | Multiples Based Valuation and DCF Valuation |
| 3 | Multiples Valuation: Case |
| 4 | Brief Introduction to History of M&A and Restructuring |
| 5 | WACC and Free Cash Flows |
| 6 | WACC and Enterprise Valuation |
| 7 | Valuation Workshop: Spreadsheet Exercise (Project) |
| 8 | Valuation Workshop: Spreadsheet Exercise (Project) |
| 9 | Case Exercise |
| 10 | Case Exercise |
| 11 | Project Consultation |
| 12 | Project Consultation |
| 13 | Presentations |
| 14 | Review and Wrap-up |
板書 /Writing on the Board
スライド（パワーポイント等）の使用 /Slides (PowerPoint, etc.)
上記以外の視聴覚教材の使用 /Audiovisual Materials Other than Those Listed Above
個人発表 /Individual Presentations
グループ発表 /Group Presentations
ディスカッション・ディベート /Discussion/Debate
実技・実習・実験 /Practicum/Experiments/Practical Training
学内の教室外施設の利用 /Use of On-Campus Facilities Outside the Classroom
校外実習・フィールドワーク /Field Work
上記いずれも用いない予定 /None of the above
Review assigned readings and notes each week. Work on weekly assignments and project.
| 種類 (Kind) | 割合 (%) | 基準 (Criteria) |
|---|---|---|
| 平常点 (In-class Points) | 100 |
Assignments(35%) Research Project(40%) Attendance and Participation(25%) |
| 備考 (Notes) | ||
| 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 | Pearson FT Press | ||
| 2 | Aswath Damodaran | Narrative and Numbers: The Value of Stories in Business | Columbia University Press | 2017 | 9780231180481 |
| 3 | Akashi Hongo | A Bilingual Introduction to Valuation | Chuo Keizai |
Prerequisite: MIB Module 5 (Finance & Financial Accounting) or equivalent. Familiarity with EXCEL required.
Students should have a PC notebook and/or pad with EXCEL and a stable access to the internet (from home).
We hope to invite a guest speaker in which case the schedule will be slightly revised. Detailed course outline posted on Canvas during the first week of class. Course schedule and content is subject to change (all changes/modifications will be posted on Canvas and announced in class). Students are expected to check Canvas and their Rikkyo email account on a regular basis for announcements.