JEM132 - Company Valuation

Credit: 6
Status: Bankovnictví a podnikové finance - mandatory
CSF - elective
EEI and EP - elective
ET - elective
F,FM and B - elective
Masters - all
MEF - elective
Semester - winter
Course supervisors: Jiří Novák M.Sc., Ph.D., Deloitte Corporate Chair
Course homepage: JEM132
Literature: Core
Koller, T., M. Goedhart, T. E. Copeland, D. Wessels and McKinsey and Company - Valuation: Measuring and Managing the Value of Companies (John Wiley & Sons Inc., Hoboken, N.J.).

Penman, S. H. - Financial Statement Analysis and Security Valuation (McGraw-Hill, London).
Damaodaran, A. - The dark side of valuation, Prentice Hall.
Lundholm, R., T. O'Keefe and G. A. Feltham (2001), "Reconciling Value Estimates from the Discounted Cash Flow Model and the Residual Income Model", Contemporary Accounting Research, Vol. 18, No. 2, pp. 311.

Description: The course introduces students to financial analysis and company valuation. The exposition starts with the discussion of the conceptual points of departure that constitute a basis for financial analysis and valuation. Subsequently, students are guided through the process of the construction of the discounted cash flow valuation model. Practical considerations are discussed, and students learn how to apply the conceptual framework in real-life setting. Finally, students put their knowledge into practice as they are asked to use their model to value an existing company and interpret the results.

The course is designed for fourth or fifth year students. Students are recommended to take the following courses before they take Company Valuation (JEM132): Financial Accounting (JEB044), Financial Management (JEB045), Asset Pricing (JEM092).


Česká Spořitelna


Patria Finance