Business valuation

Knowing the value of an asset and what determines that value is essential to making intelligent decisions - in selecting investments for a portfolio, in deciding the appropriate price to pay or receive in an acquisition or sale, and in making investment, financing and dividend decisions in managing a business. The premise of this course is that we can make reasonable estimates of the value of most assets and that the same basic principles determine the values of all types of assets, real and financial.In this course, participants will learn about the various valuation techniques used by business consultants and bankers and discuss how the various elements of these models are derived, as well as how our innate biases and prejudices distort the valuation process. We will draw on illustrations faced by real companies in a wide range of industries in a variety of circumstances to help participants understand the complexity that underlies any valuation process.The course covers the analysis of private equity and venture capital businesses. Throughout the course, candidates will gain an in-depth understanding of the mechanism underlying the creation and/or development of a company and the financial support it can receive from the financial system through venture capital investments. The course seeks to uncover how special financial intermediaries (i.e. private equity investors) finance through equity companies belonging to different stages of their life cycle, from the very beginning (start-up and early stage) to a more mature stage (i.e. expansion, mature age, etc.) or also remaining in crisis and decline.

. in: Executive Education