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
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:
Qualifications/Degrees:
Academic rank in UPCT: Catedrático de Universidad
Number of five-year periods: 5
Number of six-year periods: 4 de investigación
Curriculum Vitae: Full Profile
Responsible for the groups: G1, G2
Lecturer data: SÁNCHEZ HERNÁNDEZ, MARÍA DEL MAR
Knowledge area: Economía Financiera y Contabilidad
Department: Economía, Contabilidad y Finanzas
Telephone: 868071217
Email: mariadelmar.sanchez@upct.es
Office hours and location:
Qualifications/Degrees:
PhD in PhD in Economics from Technical University of Cartagena (SPAIN) - 2013
Academic rank in UPCT: Profesora Asociada
Number of five-year periods: Not applicable due to the type of teaching figure
Number of six-year periods: No procede por el tipo de figura docente
Curriculum Vitae: Full Profile
Lecturer data: GARCÍA MARTÍNEZ, JOSÉ CARLOS
Knowledge area: Economía Financiera y Contabilidad
Department: Economía, Contabilidad y Finanzas
Telephone:
Email: jose.garcia@upct.es
Office hours and location:
Qualifications/Degrees:
Academic rank in UPCT: Profesor Asociado
Number of five-year periods: Not applicable due to the type of teaching figure
Number of six-year periods: No procede por el tipo de figura docente
Curriculum Vitae: Full Profile
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).
3. Dominio del software básico necesario para el análisis y la toma de decisiones económicofinancieras y contables empresariales (procedimental).
4. Conocimiento y cumplimiento de la normativa ética propia de la profesión de valorador y analista de la empresa (conceptual y actitudinal).
Concepto de valor y tipos de valor (económico vs financiero), clasificación de los métodos de valoración de empresas, valoración 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.
1. THEORETICAL FOUNDATIONS OF THE VALUATION OF COMPANIES
2. CLASSIFICATION OF COMPANY VALUATION MODELS
3. STATIC VALUATION METHODS BASED ON THE BALANCE SHEET
4. VALUATION OF COMPANIES THROUGH MULTIPLE COMPARABLE COMPANIES
4.1.Multiples based on the capitalization of the company
4.2. Multiples based on the value of the company
4.3. Multiples based on company growth
5. VALUATION OF COMPANIES THROUGH PERFORMANCE METHODS
5.1. Cash flow discount
5.2.Horizon of the prediction and calculation of cash flows
5.3. Determination of the discount rate
5.4. Terminal Value Determination
6. PRACTICAL, COMPOUND OR MIXED ASSESSMENT METHODS
7. PARTICULARITIES OF THE VALUATION OF SMEs: THE AECA MODEL (2005)
8. STRUCTURE OF A VALUATION REPORT
During the course, a series of case studies will be developed that cover the content of the theory syllabus of the course.
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.
Class in conventional classroom: theory, problems, case studies, seminars, etc
Expository class using the lecture method. Resolution of doubts raised by students.
Practical training focusing on practical issues related to theoretical knowledge.
All learning outcomes are assessed.
38
100
Assessment activities (continuous assessment system)
To measure the continuous assessment of the student, it refers to activities, presentations and public interventions of learned didactic contents.
All learning outcomes are assessed.
2
100
Assessment activities (final assessment system)
Tests to measure the student's learning.
2
100
Tutorials
Resolution of doubts about theory, the resolution of practical cases and cooperative learning work.
All learning outcomes are assessed.
2
50
Student work: study or individual or group work
The student must complete a work on the valuation of a company.
All learning outcomes are assessed.
56
0
Evaluation of written work, internships, cases, visits and seminars.
The quality of the work and its presentation will be assessed.
All learning outcomes are assessed.
80 %
Participation and involvement in the teaching/learning process.
The student's attitude and ability to work will be assessed through the preparation and delivery of practical work and participation in class.
All learning outcomes are assessed.
20 %
Evaluation of written work, internships, cases, visits and seminars.
Presentation of the company valuation work.
All learning outcomes are assessed.
100 %
Author: Aswath Damodaran
Title: Investment Valuation: Tools and Techniques for Determining the Value of Any Asset
Editorial: WILEY
Publication Date: 2012
ISBN: 978-1-118-01152-2