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| Module code: DFMM-204 |
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2V (2 hours per week) |
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3 |
| Semester: 2 |
| Mandatory course: yes |
Language of instruction:
English |
Assessment:
Term paper & oral examination
[updated 21.10.2024]
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DFMM-204 (P610-0478) Management Sciences, Master, ASPO 01.10.2018
, semester 2, mandatory course
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30 class hours (= 22.5 clock hours) over a 15-week period.
The total student study time is 90 hours (equivalent to 3 ECTS credits).
There are therefore 67.5 hours available for class preparation and follow-up work and exam preparation.
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Recommended prerequisites (modules):
None.
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Recommended as prerequisite for:
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Module coordinator:
Prof. Dr. Mana Mojadadr |
Lecturer:
Prof. Dr. Mana Mojadadr
[updated 05.04.2020]
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Learning outcomes:
Learning outcomes:
Sustainable and value-oriented corporate management and valuation are particularly important in the age of digitalization and global competition. The primary goal for students in this module is to acquire the relevant skills for this master´s program.
Securities traded on the financial markets or young companies rated by investors, from start-ups to corporations, are scrutinized in terms of their economic plausibility, but also from a holistic perspective, in order to be able to meaningfully assess future developments in business model valuations and overall strategies. Theoretical and traditional standards of evaluation, however, are becoming increasingly obsolete in this regard. Manuals and textbooks are of limited use when it comes to evaluating rapidly developing technologies and new market conditions, where risks and opportunities need to be redefined.
Consequently, students will learn to analyze (digital) business models and strategies holistically in order to derive valuations and (financial) estimates based on this. This goes beyond learning and implementing well-known concepts of company valuation. Relevant keywords for this module include, among others: financial and business analysis, capital market theories, CAPM, FCF, beta factor, startup valuations, and the valuation of new technologies and innovations.
With the help of real-life, current examples, this module will enable students to use their knowledge of corporate finance and investment to establish and analyze the connection between the objectives of strategic (financial) management – for example, from the perspective of a company´s management – and a company´s position on the capital markets or with investors.
In addition, course participants will be able to develop their own business plan components (including financial and liquidity planning) for a company and, based on these, formulate recommendations for decision-makers and for maintaining or increasing the company´s value.
Students will be able to create a cash flow statement and develop a company´s financial and liquidity planning. Furthermore, they will be able to explain and assess risk and return. In particular, they will be able to apply and implement practical business models and strategies.
The students will also become familiar with the essential concepts of value-based management.
[updated 21.10.2024]
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Module content:
1. Introduction and overview of corporate finance
2. Digitization and new business models
3. Determining the price versus the company value
4. Company evaluation principles
5. Case studies and/or project work
[updated 21.10.2024]
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Teaching methods/Media:
Practical case studies (generally using a project-oriented approach, possibly in cooperation with companies and based on real-life problems)
Exercises, research and analysis assignments (in subgroups if necessary)
[updated 21.10.2024]
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Recommended or required reading:
- Current company information (see current project or case study to be discussed)
- Current (case) studies and statistics
- Current specialist articles
Monographs & manuals
Berens, W.: Due Diligence bei Unternehmensakquisitionen, latest edition, Stuttgart.
Brealey, R. A./Myers, S. C.: Principles of Corporate Finance, latest edition, New York.
Bruner, R. F./Eades, K. M./Schill, M. J.: Case studies in finance: managing for corporate value creation, akt. Aufl., Boston.
Damodaran, A., Corporate Finance: Theory and Practice, akt. Aufl., Hoboken/New Jersey.
Damodaran, A., Valuation: Security Analysis for Investment and Corporate Finance, akt. Aufl., Hoboken/New Jersey.
Damodaran, A.: Applied corporate finance, akt. Aufl., Hoboken/New Jersey.
Ernst, D.: Applied international corporate finance, akt. Aufl., München.
Fernandez, P., Valuation Methods and Shareholder Value Creation, akt. Aufl., (Academic Press).
Gardner, C., The Valuation of Information Technology: A Guide for Strategy Development, Valuation, and Financial Planning (Financial Management Book 2), akt. Aufl., Hoboken/New Jersey.
Hommel, M./Dehmel, I.: Unternehmensbewertung case by case, akt. Aufl., Frankfurt.
Müller-Stewens, G./Kunisch, S./Binder, A.: Mergers & Acquisitions: Analysen, Trends und Best Practices, Stuttgart 2010.
Poland, S., Founder’s Pocket Guide: Startup Valuation, akt. Aufl.
Ross, S. A./Westerfield, R./Jaffe, J., Modern Financial Management, akt. Aufl., Boston.
[updated 21.10.2024]
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