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完成時間大約為24 小時

建議:The course consists of 4 weeks only. The estimated workload is 2-5 hours per week....

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字幕:英語(English), 西班牙語(Spanish)

100% 在線

立即開始,按照自己的計劃學習。

可靈活調整截止日期

根據您的日程表重置截止日期。

高級

完成時間大約為24 小時

建議:The course consists of 4 weeks only. The estimated workload is 2-5 hours per week....

英語(English)

字幕:英語(English), 西班牙語(Spanish)

教學大綱 - 您將從這門課程中學到什麼

1
完成時間為 1 小時

Executive Summary

Welcome! My name is Han Smit, I am Professor of Corporate Finance at Erasmus School of Economics. I will be your lecturer, and together with my team, Dyaran Bansraj and Nishad Matawlie, we are going to take you on a fascinating journey that may change the way you make strategic investment decisions. This executive level course consists of a series of accessible animation videos. Step by step we develop the conceptual frameworks and new valuation principles for strategic investments that are difficult to value with traditional tools. These new valuation methods can be particularly interesting for venture capitalists, private equity investors, investment bankers, CEOs, and CFOs. This executive level course is meant for those who want to be updated on the latest insights in corporate strategy and valuation techniques. You can walk through the fundamentals of the course in less than a week! If you wish to follow the student level, you can skip this week (don't worry, you won't miss out on anything)!

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6 個視頻 (總計 18 分鐘), 1 個閱讀材料, 1 個測驗
6 個視頻
Animation - Real options are everywhere!2分鐘
Animation - The value of strategic commitment2分鐘
Animation - Option Games: Integrating flexibility and strategic commitment3分鐘
1 個閱讀材料
Outline5分鐘
1 個練習
Understanding expanded net present value24分鐘
2
完成時間為 5 小時

Discounted Cash Flow Analysis

We show you how to apply DCF approaches and provide case applications illustrating the powerful potential of this valuation methodology. We consider historical analysis, the estimation of free cash flows, various DCF approaches, and multiples valuation. In the assignments we consider specialized topics such as the valuation of leveraged buyouts. After this module you will be familiar with DCF approaches and will be able to relate them to strategy.

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7 個視頻 (總計 59 分鐘), 6 個閱讀材料, 4 個測驗
7 個視頻
Calculating free cash flows10分鐘
Calculating the terminal value9分鐘
Answer to practice quiz 'WACC method'9分鐘
Using multiples valuation9分鐘
6 個閱讀材料
Key value driver derivation (optional)10分鐘
Answer to practice quiz 'APV Method'10分鐘
IRR: Internal Rate of Return10分鐘
Types of multiples15分鐘
Checklist2分鐘
The case of RJR Nabisco10分鐘
3 個練習
WACC Method30分鐘
APV Method30分鐘
Test for certificate45分鐘
3
完成時間為 3 小時

Corporate Strategy

This module closes the gap between traditional corporate finance and strategic planning by linking corporate strategy to the market value. We can assess the value of a company through the expanded NPV criterion, which is able to capture the value of the firm's growth options. We review various strategic paradigms that analyze the underlying sources of this growth option value, focusing on industry analysis, firms' internal resources and dynamic capabilities. After this module you will be able to recognise the strategic growth option value in the market value of a company.

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3 個視頻 (總計 20 分鐘), 3 個閱讀材料, 3 個測驗
3 個閱讀材料
Linking valuation to strategy10分鐘
Economic value added (EVA)10分鐘
Checklist2分鐘
2 個練習
Corporate strategy30分鐘
Test for certificate45分鐘
4
完成時間為 4 小時

Corporate Real Options

This module reviews the basic concepts and valuation principles of real options. Real options theory quantifies decision making under uncertainty and stresses the importance of wait-and-see flexibility, suggesting that managers should wait until major uncertainties are resolved and the project is more clearly beneficial. Since it recognizes that investments tend to be sequentially related over time, real options analysis is particularly suitable for valuing strategies in addition to isolated projects. After this module you will be able to quantify the flexibility component of the strategic growth option value. This is an important capability when valuing high-tech companies.

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11 個視頻 (總計 81 分鐘), 1 個閱讀材料, 5 個測驗
11 個視頻
Risk neutral valuation6分鐘
Valuing an R&D project10分鐘
Option to expand or contract7分鐘
Answer to practice quiz 'Option to invest'9分鐘
Answer to practice quiz 'Option to expand or contract'5分鐘
Answer to practice quiz 'Option to abandon'6分鐘
Option replication and risk neutral valuation13分鐘
Multi-period, continuous, and compound models9分鐘
1 個閱讀材料
Checklist2分鐘
4 個練習
Option to invest15分鐘
Option to expand or contract10分鐘
Option to abandon10分鐘
Test for certificate45分鐘
4.8
55 個審閱Chevron Right

來自Advanced Valuation and Strategy - M&A, Private Equity, and Venture Capital的熱門評論

創建者 BBJan 18th 2019

Great course for those that work and want a solid overview of important valuation material. More advanced content than in other courses and very helpful instructors!

創建者 DDJan 31st 2019

Very advanced course in corporate valuation and in corporate strategy. Having a good understanding of basic corporate finance topics is recommended.

講師

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Han Smit

Professor of Corporate Finance
Finance
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Dyaran Bansraj

Lecturer
Finance
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Nishad Matawlie

Lecturer
Finance

關於 鹿特丹伊拉斯姆斯大学

Erasmus University: a top-100 ranked international research university based in Rotterdam, the Netherlands. Our academic teaching and research focuses on four areas: health, wealth, culture and governance. Erasmus University Rotterdam: make it happen. ...

常見問題

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  • You can follow the MOOC without studying additional sources. Further reading of the discussed topics, including the Building Blocks) is provided in the textbook that I wrote with Lenos Trigeorgis: Strategic Investment: Real Options and Games, Princeton University Press, E-book ISBN9781400829392

  • In four weeks, we review the four most important foundations in valuation and strategy: corporate valuation, strategic management and growth option value, corporate real options, and game theory. If you don't have four weeks, you can also follow the course at your own pace. The full course content will be available from the start!

  • Yes you can!

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