COURSE UNIT TITLE

: CORPARATE VALUATION

DEGREE PROGRAMMES

Description of Individual Course Units

Course Unit Code Course Unit Title Type Of Course D U L ECTS
MSF 5078 CORPARATE VALUATION ELECTIVE 3 0 0 4

Offered By

Accounting and Finance (English)

Level of Course Unit

Second Cycle Programmes (Master's Degree)

Course Coordinator

PROFESSOR DOCTOR MÜBECCEL BANU DURUKAN SALI

Offered to

Accounting and Finance (English)

Course Objective

The objective of this course is to give a thorough knowledge in determining the value of a company using DCF, relative valuation and option pricing models for private companies and in acquisition decisions. The emphasis is on the process of valuation by the help of a real company valuation project.

Learning Outcomes of the Course Unit

1   Distinguish between different valuation techniques such as FCFF, FCFE, Dividend-models and relative valuation.
2   Apply different valuation techniques such as FCFF, FCFE, Dividend-models and relative valuation for different purposes.
3   Identify and analyze a company s value driving factors relating these factors to the value enhancement process.
4   Conduct a practical valuation of a chosen company, including a written report and an oral presentation.

Mode of Delivery

Face -to- Face

Prerequisites and Co-requisites

None

Recomended Optional Programme Components

None

Course Contents

Week Subject Description
1 Introduction: Corporate Valuation and Value Based Management
2 DCF Valuation: Estimating Parameters
3 DCF Valuation: Estimating Parameters
4 DCF Valuation: Estimating Parameters
5 DCF Valuation: Valuation
6 Mid-Term
7 Relative Valuation
8 Valuing Private Firms
9 Option Pricing Applications
10 Valueing Acquisitions
11 Value Enhancement Strategies
12 Presentations
13 Presentations
14 Review

Recomended or Required Reading

1. Damodaran, A.: Damodaran on Valuation, Second Edition, John Wiley & Sons.,
2. Investment Valuation, 2e. New York: John Wiley & Sons, 2002.
3. Damodaran s website: http://pages.stern.nyu.edu/~adamodar/

Planned Learning Activities and Teaching Methods

Lecture, discussions, project.

Assessment Methods

SORTING NUMBER SHORT CODE LONG CODE FORMULA
1 MTE MIDTERM EXAM
2 STT TERM WORK (SEMESTER)
3 FIN FINAL EXAM
4 FCG FINAL COURSE GRADE MTE* 0.30 + STT * 0.40 + FIN* 0.30
5 RST RESIT
6 FCGR FINAL COURSE GRADE (RESIT) MTE* 0.30 + STT * 0.40 + BUT* 0.30


*** Resit Exam is Not Administered in Institutions Where Resit is not Applicable.

Further Notes About Assessment Methods

None

Assessment Criteria

1. The students will describe and compare different valuation techniques such as FCFF, FCFE, Dividend-models and relative valuation.
2. The students will analyze different factors influencing value.
3. The students will demonstrate knowledge of different valuation techniques for different purposes.
4. The students will illustrate the effect of different factors on value.
5. The students will calculate and present the value of a real company.

Language of Instruction

English

Course Policies and Rules

1. Plagiarism of any type will result in disciplinary action.
2. Attending at least 70 percent of lectures is mandatory.
3. All assignments should be submitted on time. Otherwise will not be accepted.

Contact Details for the Lecturer(s)

banu.durukan@deu.edu.tr

Office Hours

To be announced later.

Work Placement(s)

None

Workload Calculation

Activities Number Time (hours) Total Work Load (hours)
Lectures 13 3 39
Preparations before/after weekly lectures 13 1 13
Preparation for midterm exam 1 10 10
Preparation for final exam 1 15 15
Preparing assignments 13 2 26
Preparing presentations 1 5 5
Final 1 2 2
Midterm 1 2 2
TOTAL WORKLOAD (hours) 112

Contribution of Learning Outcomes to Programme Outcomes

PO/LOPO.1PO.2PO.3PO.4PO.5PO.6PO.7
LO.15555555
LO.25555555
LO.35555555
LO.45555555

CONTACT INFORMATION
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Phone: +90(232) 412 12 12 - Fax: +90 (232) 464 81 35

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