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Inicio / Estudios / Máster en Administración y Dirección de Empresas (MBA) / Plan de Estudios

Course Unit Description

COMPANY VALUATION

Course 2021-22

  • On-site

1.Subject data

Name: COMPANY VALUATION

Code: 212101011

Type: Elective

ECTS: 4

Length of subject: Per term

Semester and course: Second term

Speciality:

Language: English

Mode of study: On-site class

2. Lecturer data

Lecturer data: REVERTE MAYA, CARMELO

Knowledge area: Economía Financiera y Contabilidad

Department: Economía, Contabilidad y Finanzas

Telephone: 968325925

Email: carmelo.reverte@upct.es

Office hours and location: Contact with the lecturer

Qualifications/Degrees:

Academic rank in UPCT: Catedrático de Universidad

Number of five-year periods: 4

Number of six-year periods: 3 de investigación

Curriculum Vitae: Full Profile

Lecturer data: GARCÍA MECA, MARÍA EMMA

Knowledge area: Economía Financiera y Contabilidad

Department: Economía, Contabilidad y Finanzas

Telephone: 868071040

Email: emma.garcia@upct.es

Office hours and location: Contact with the lecturer

Qualifications/Degrees:

Academic rank in UPCT: Catedrática de Universidad

Number of five-year periods: 4

Number of six-year periods: 3 de investigación

Curriculum Vitae: Full Profile

Lecturer data: GARCÍA MECA, MARÍA EMMA

Knowledge area: Economía Financiera y Contabilidad

Department: Economía, Contabilidad y Finanzas

Telephone: 868071040

Email: emma.garcia@upct.es

Office hours and location: Contact with the lecturer

Qualifications/Degrees:

Academic rank in UPCT: Catedrática de Universidad

Number of five-year periods: 4

Number of six-year periods: 3 de investigación

Curriculum Vitae: Full Profile

3. Competences and learning outcomes

3.1. Basic curricular competences related to the subject

[CB6 ]. To possess and understand knowledge that provides a basis or opportunity to be original in the development and / or application of ideas, often in a research context.

3.2. General curricular competences related to the subject

[02 ]. To be able to integrate knowledge and information, not always complete, in a way that allows to formulate judgments which also consider the social and ethical responsibilities linked to the application of such knowledge and judgments.

[03 ]. To be able to draw conclusions from what has been learned, as well as being aware of the knowledge and ultimate reasons that sustain them. Likewise, students are required to be able to communicate them, both to specialized and non-specialized audiences, each at their level and always in a clear and unambiguous way.

3.3. Specific curricular competences related to the subject

[21 ]. To value cooperation in the company as an asset in the business management tasks.

[22 ]. To evaluate the different options in the administration of material and human resources of the organization.

3.4. Transversal curricular competences related to the subject

[CT7 ]. Designing and undertaking innovative projects

3.5. Subject learning outcomes

1. Conocimiento, relación y aplicación adecuada de los conceptos científicos propios de la valoración de empresas (conceptual y procedimental).
2. Capacidad para transformar la información procedente de los ámbitos externo e interno (procedimental).
3. Capacidad para el análisis y la toma de decisiones económico-financieras y contables empresariales y su implementación (procedimental).
4. Dominio del software básico necesario para la el análisis y toma de decisiones económico-financieras y contables empresariales (procedimental).
5. Conocimiento y cumplimiento de la normativa ética propia de la profesión de valorador y analista de la empresa (conceptual y actitudinal).

4. Contents

4.1 Curricular contents related to the subject

Concepto de valor y tipos de valor (económico vs financiero), clasificación de los métodos de valoración de empresas, valoracion por actualización de flujos de tesorería, valoración basada en el coste, valoración por referencias o múltiplos, métodos mixtos de valoración, problemática de la valoración de pymes, estructura de un informe de valoración.

4.2. Theory syllabus

Teaching modules

Units

1. THEORETICAL FOUNDATIONS OF COMPANY VALUATION
2. TYPES OF VALUATION MODELS
3. STATIC VALUATION MODELS BASED ON THE BALANCE SHEET
4. RELATIVE VALUATION MODELS BASED ON MULTIPLES OF COMPARABLE FIRMS
4.1. Multiples based on enterprise value
4.2. Multiples based on equity value
4.3. Sectorial multiples
5. DYNAMIC VALUATION BASED ON DISCOUNTED FUTURE CASH FLOWS
5.1. Estimation of future cash flows
5.2. Determination of the discount rate
5.3. Determination of the residual or terminal value
6. GOODWILL-BASED VALUATION METHODS
7. PARTICULARITIES OF SMEs VALUATION
8. STRUCTURE OF A VALUATION REPORT

4.3. Practice syllabus

Name

Description

During the course, a series of exercises will be solved covering the main aspects of the syllabus. An Excel spreadsheet containing the main aspects of valuation will be explained.

Risks prevention

Promoting the continuous improvement of working and study conditions of the entire university community is one the basic principles and goals of the Universidad Politécnica de Cartagena. Such commitment to prevention and the responsibilities arising from it concern all realms of the university: governing bodies, management team, teaching and research staff, administrative and service staff and students. The UPCT Service of Occupational Hazards (Servicio de Prevención de Riesgos Laborales de la UPCT) has published a "Risk Prevention Manual for new students" (Manual de acogida al estudiante en materia de prevención de riesgos), which may be downloaded from the e-learning platform ("Aula Virtual"), with instructions and recommendations on how to act properly, from the point of view of prevention (safety, ergonomics, etc.), when developing any type of activity at the University. You will also find recommendations on how to proceed in an emergency or if an incident occurs. Particularly when carrying out training practices in laboratories, workshops or field work, you must follow all your teacher's instructions, because he/she is the person responsible for your safety and health during practice performance. Feel free to ask any questions you may have and do not put your safety or that of your classmates at risk.

4.4. Comments

5. Teaching method

Name

Description

Hours

In-class

Name

Theory class: Activities consisting of training sessions to develop theoretical knowledge based on concepts and theories

Description

Explanation of the main concepts of the different lessons.

Hours

20

In-class

100

Name

Problem solving class: Activities consisting of training sessions to develop practical or applied knowledge based on problem solving exercises, or practical cases

Description

Resolution of exercises related to the several theory lessons.

Hours

20

In-class

100

Name

Laboratory or field practice class: Activities aimed at developing practical or applied skills by the student supervised by a remote teacher

Description

Resolution of exercises related to the several theory lessons.

Hours

0

In-class

100

Name

Practical class in the computer room: Activities for the acquisition of certain skills through the use of specific software

Description

Hours

0

In-class

100

Name

Seminars, tutorials led by teaching staff, conferences, visits, round tables, etc .: Activities to develop theoretical, practical or applied knowledge based on specific topics or views of the profession

Description

Hours

0

In-class

100

Name

Assessments (continuous assessment system): speaking or writing tests, presentations, individually or in groups, which should include the knowledge acquired in the classes. Formative and summative assessment activities are included here

Description

Hours

0

In-class

100

Name

Assessments (final assessment system): speaking or writing tests, individually or in groups, which should include the knowledge acquired in the classes. Summative evaluation is included

Description

Hours

0

In-class

100

Name

Tutorials: Individual or in groups, will serve to advise, resolve any doubts, guide, monitor work or the knowledge acquired

Description

Tutorial hours upon request for solving doubts.

Hours

0

In-class

50

Name

Carrying out individual or group assignments: Autonomous and / or collaborative learning to develop theoretical, practical or applied knowledge by carrying out projects, practice reports and / or assignments

Description

The student will have to carry out a valuation of a specific company in order to apply the knowledge and skills acquired during the course.

Hours

60

In-class

0

Name

Individual study: Time dedicated to studying the subject

Description

The student will have to carry out avaluation of a specific company inorder to apply the knowledge andskills acquired during the course

Hours

0

In-class

0

6. Assessment method

6.1. Continous assesment system

Name

Description and criteria

Percentage

Name

Attendance and participation

Description and criteria

Participation of the student in the classes will be valued with 10% of the final grade.

Percentage

10 %

Name

Individual assignment

Description and criteria

The student will have to carry out a valuation of a specific company in order to apply the knowledge and skills acquired during the course. This project will represent 90% of the final grade.

Percentage

90 %

6.2. Final assesment system

Name

Description and criteria

Percentage

Name

Individual assignment

Description and criteria

The student will have to carry out a valuation of a specific company in order to apply the knowledge and skills acquired during the course.

Percentage

100 %

Information

7. Bibliography and resources

7.1. Basic bibliography

Author: FAZZINI, M.
Title: BUSINESS VALUATION. THEORY AND PRACTICE, PALGRAVE MACMILLAN
Editorial: MCMILLAN
Publication Date: 2018
ISBN: 978-3-319-89493-5

Author: DAMODARAN, A.
Title: INVESTMENT VALUATION: TOOLS AND TECHNIQUES FOR DETERMINING THE VALUE OF ANY ASSET
Editorial: WILEY
Publication Date: 2015
ISBN: 978-1-118-01152-2

7.2. Supplementary bibliography

7.3. On-line resources and others

DAMODARAN'S WEB PAGE (http://pages.stern.nyu.edu/~adamodar/)

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Campus Virtual
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(+34) 968 32 55 69

decanato@fce.upct.es

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