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| FINA0050-1 | Valuation and Capital Budgeting
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| Duration : | 30h Th |
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| Number of credits : |
| Master in Management Sciences, in-depth approach, 1st year | | First semester | | 5 |
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| Master in Management Sciences, didactic approach, 1st year | | First semester | | 5 |
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| Master in Business Engineering, didactic approach, 1st year | | First semester | | 5 |
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| Master en sciences de gestion, à finalité spécialisée en banking and asset management, 1st year | | First semester | | 5 |
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| Master en sciences de gestion, à finalité spécialisée en droit, 1st year | | First semester | | 5 |
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| Master degree in Business Engineering, professional Focus in Financial Engineering, 1st year | | First semester | | 5 |
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| Master in Management Sciences, professional Focus in Entrepreneurship, 1st year | | First semester | | 5 |
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| Master en sciences de gestion, à finalité spécialisée en financial analysis and audit, 1st year | | First semester | | 5 |
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| Master in Management Sciences, professional Focus, 1st year | | First semester | | 5 |
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| Master en sciences de gestion, à finalité spécialisée en management humain et organisation, 1st year | | First semester | | 5 |
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| Master in Management Engineering, professional Focus, 1st year | | First semester | | 5 |
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| Master en ingénieur de gestion, à finalité spécialisée en intrapreneuriat, 1st year | | First semester | | 5 |
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| Master in management Sciences, professional focus in management, 1st year | | First semester | | 5 |
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| Master en sciences de gestion, à finalité spécialisée en marketing and strategic intelligence, 1st year | | First semester | | 5 |
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| Master en ingénieur de gestion, à finalité spécialisée en Modélisation et technologie, 1st year | | First semester | | 5 |
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| Master en sciences de gestion, à finalité spécialisée en management des entreprises sociales, 1st year | | First semester | | 5 |
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| Master degree in management Sciences, professional focus on Strategic Intelligence and Marketing, 1st year | | First semester | | 5 |
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| Master in Business Engineering, professional Focus in Supply Chain Management, 1st year | | First semester | | 5 |
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| Master en ingénieur de gestion, à finalité spécialisée en performance management systems, 1st year | | First semester | | 5 |
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| Master in Management Sciences | | First semester | | 5 |
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| Lecturer : | Alain Schockert, Danielle Sougné |
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| Coordinator : | Danielle Sougné |
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Language(s) of instruction :
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| English language |
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Course contents :
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| Part I : Capital Budgeting
- Fundamentals
- Capital Budgeting and Valuation with leverage
- Valuation and financial modeling
Partie II - Valuation Methods
Partie III - Initial Public Offering (IPO)
... followed by the elaboration of a sell-side research report of a publicly traded company (group work). |
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Learning outcomes of the course :
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| Apply concepts studied in Corporate Finance (3rd BAC) and the traditional corporate valuation techniques through a real-world experience. |
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Prerequisites and co-requisites/ Recommended optional programme components :
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| Investment decision rules, Bond Valuation, Discounted cash-flow valuation and Net Present Value (NPV), CAPM and Risk-Return tradeoff. |
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Planned learning activities and teaching methods :
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| Lectures, Exercice sessions, Case Study. |
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Mode of delivery (face-to-face ; distance-learning) :
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| Friday 28/10/2011 09:00 12:00 (N1)
Friday 04/11/2011 09:00 12:00 (N1)
Friday 18/11/2011 09:00 12:00 (N1)
Friday 25/11/2011 09:00 12:00 (N1)
Friday 02/12/2011 09:00 12:00 (N1)
Friday 09/12/2011 09:00 12:00 (N1)
Friday 23/12/2011 09:00 12:00 (N1) |
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Recommended or required readings :
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| "Valuation", A. Schockert - Managing Director at Banque Degroof, 2010-2011, HEC-ULg, 52 pages.
"Corporate Finance", Berk, DeMarzo, 2nd edition (2007). |
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Assessment methods and criteria :
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| - Study case, Assignment, Valuation of a listed company - Group work
- Oral presentation of the group work (January exam session)
- Written Exam (MCQ)
Group work will count for 50% of the final grade and the written exam for the remaining 50%. |
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Contacts :
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| Danielle Sougné - danielle.sougne@ulg.ac.be
Alain Schockert - alain.schockert@degroof.be |
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