Meet our Quantitative Traders. Site Map Disclosures Privacy Statement. All rights reserved. Meet our Team. Financial aid available. Would you like to learn about the latest valuation methods that may help you to make better business decisions? This course is helpful for executives that need to value complete strategies and for all students interested in corporate finance and strategy.
We present the latest tools and show you how to apply them! We will revolutionize your way of decision making, by extending static techniques from corporate finance with dynamic methods to quantify strategic thinking. Traditionally, we assess the attractiveness of an investment as a mature business, where future cash flows mainly result from past decisions. Yet managers often have to consider these long-term implications using intuition and experience alone, with little guidance from structured, quantitative analysis.
Our treatment goes far beyond the use of standard valuation analysis. Thinking in terms of options, games, and adaptive strategies may help managers address strategic questions such as: How do you value a leveraged buyout?
How can you value a high-tech venture with negative cash flows? When should you invest in new ventures in stages? How can you incorporate rival bidders in the analysis? The tools we provide can improve your decisions in business and in daily life. We hope that our course appeals to graduate students in finance, economics, and business, as well as to high-ranking professionals and a general audience.
This course is particularly interesting for venture capitalists, private equity investors, investment bankers, CEOs, CFOs, and those who aspire these affiliations. We offer this MOOC at 3 levels: 1. Executive Summary: This 1-week module provides critical insights into the principles of corporate valuation and strategy.
This is accessible for time-constrained executives and the general audience without any prior knowledge. Student Level: This level involves an understanding of the technical details. This level requires basic knowledge of concepts in corporate finance, e. Learners of this level can skip week 1. Honors Level honors certificate : This level is challenging, engaging, and compelling to an intellectually rigorous student.
Erasmus University: a top ranked international research university based in Rotterdam, the Netherlands. Our academic teaching and research focuses on four areas: health, wealth, culture and governance.
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!
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. 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. 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. The exact price the buyer is willing to bid actually depends on the trade-off between the confidence of winning the bid and the magnitude of return they want to get.
Some other factors involved in the auction include the active networking and ongoing personal relationship, risk of the deal, front-load due diligence, and other important terms in negotiation. In class, we generally discuss the dominant strategy in situations where players are not colluding. But in the real world, potential buyers and the selling company have huge incentives to collude in order to raise prices even though it is illegal to do so.
The concept of game theory is involved in the bargain between the seller and the buyer as well. The goal is to the optimal strategy for both of the parties and none of them would want to switch. Few realize that the risk may be the firms themselves, according to California State University, Northridge business law professor Melanie Stallings Williams. What made the case stand out, Williams said, is that the plaintiffs made their case by using auction theory — a form of game theory, which measures the strategic interaction between rational decision makers—to show how the private equity firms colluded in the market for multi-billion dollar leveraged buyout transactions.
Joining Williams in authoring the paper were Christopher M. Wilke, dean of faculty of business and economics at Monash University; Michael A.
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