Teaching

Corporate valuation syllabus here.

What is corporate valuation?

Corporate valuation involves coherent assignment of a monetary value to a business. Such valuation is typically required in dispute resolution, tax assessment, mergers and acquisition, and buying or selling a business. It also includes valuation of non tradable items such as intellectual property, i.e., trademarks and brand names, customer lists, patents and licences. Specific examples where corporate valuation is used include dispute resolution services, litigation support and expert witness valuations, forensic investigation, advice on regulatory and accounting matters, valuations required by International Financial Reporting Standards (IFRS), including purchase price allocation, impairment testing and share option valuations. This broad base of applications call upon a spectrum of econometrics and statistical methodology that includes but is not limited to real option pricing, value relevance estimation through regression analysis, firm bankruptcy or credit scoring using financial ratios in multivariate discriminant analysis (MDA, e.g., Altman’s Z-statistic), logistic regression using Ohlson's O, neural networks, support vector machines, Tobin’s q, e.g.,(market value of firm, estimated replacement value of firm assets) as a proxy for growth, and asset pricing for risk and return trade-offs using the CAPM, APT or other linear factor models.

Broker Information Service Platform--Questionnaire assessing investor risk attitude

Performance Measurement in Financial Institutions