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Advanced Valuation and Strategy - M&A, Private Equity, and Venture Capital
  • Level Expert
  • Duration 16 hours
  • Course by Erasmus University Rotterdam
  • Offered by

About

Hi and welcome to this course! Would you like to learn about the latest valuation methods that may help you to make better business decisions? Then 'Advanced Valuation and Strategy " M&A, Private Equity, and Venture Capital' by Erasmus University Rotterdam is the right course for you! 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. But, in an ever-changing world, strategic decisions determine the firm's long-term success and market value. 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. We introduce the expanded NPV, which brings together DCF, real options, and game theory. 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. * Who is this class for? 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. 2. Student Level: This level involves an understanding of the technical details. This level requires basic knowledge of concepts in corporate finance, e.g., the time value of money, financial statement analysis, capital structure, and the relation between risk and returns. Learners of this level can skip week 1. 3. Honors Level (honors certificate): This level is challenging, engaging, and compelling to an intellectually rigorous student.

Modules

Outline Executive Summary

    • 1 Readings
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1 Readings

  • Outline

Extending Net Present Value with Strategic Growth Option Value

    • 1 Videos
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1 Videos

  • Animation - Improving your decision making

Corporate Strategy and the Strategic Growth Option Value

    • 1 Videos
Show info about module content

1 Videos

  • Animation - Where value comes from

Real Options to Measure Growth Option Value

    • 2 Videos
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2 Videos

  • Animation - The value of flexibility
  • Animation - Real options are everywhere!

Option Games to Measure Strategic Growth Option Value

    • 2 Videos
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2 Videos

  • Animation - The value of strategic commitment
  • Animation - Option Games: Integrating flexibility and strategic commitment

Reflective Questions

    • 1 Assignment
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1 Assignment

  • Understanding expanded net present value

2.1. Introduction to Corporate Valuation

    • 1 Videos
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1 Videos

  • Animation - Introduction to corporate valuation

2.2. The Core: Fundamentals

    • 2 Videos
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2 Videos

  • When to use DCF approaches
  • Forecasting free cash flows based on historical performance

2.3. The Core: Valuation of Companies

    • 3 Videos
    • 3 Readings
    • 2 Assignment
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2 Assignment

  • WACC Method
  • APV Method

3 Videos

  • Calculating free cash flows
  • Calculating the terminal value
  • Answer to practice quiz 'WACC method'

3 Readings

  • Key value driver derivation (optional)
  • Answer to practice quiz 'APV Method'
  • IRR: Internal Rate of Return

2.4. The Core: Multiples Valuation

    • 1 Videos
    • 1 Readings
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1 Videos

  • Using multiples valuation

1 Readings

  • Types of multiples

Getting the Certificate (1/4)

    • 1 Readings
    • 1 Assignment
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1 Assignment

  • Test for certificate

1 Readings

  • Checklist

Case Study

    • 1 Readings
    • 1 PeerReview
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1 Peer Review

  • Company valuation

1 Readings

  • The case of RJR Nabisco

3.1. Introduction to Corporate Strategy

    • 1 Videos
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1 Videos

  • Animation - Introduction to corporate strategy

3.2. The Core: Valuation of Strategies

    • 2 Videos
    • 2 Readings
    • 1 Assignment
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1 Assignment

  • Corporate strategy

2 Videos

  • How to estimate growth option value
  • Strategic paradigms and growth option value

2 Readings

  • Linking valuation to strategy
  • Economic value added (EVA)

3.3 Discussion

    • 1 Discussion
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1 Discussions

  • Growth option value in serial acquisition strategies

Getting the Certificate (2/4)

    • 1 Readings
    • 1 Assignment
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1 Assignment

  • Test for certificate

1 Readings

  • Checklist

Case Study - RJR Nabisco

    • 1 PeerReview
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1 Peer Review

  • The merger between RJ Reynolds Tobacco Company and Nabisco

4.1. Introduction to Real Options

    • 2 Videos
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2 Videos

  • Animation - Introduction to real option theory
  • Animation - Real options are everywhere!

4.2. The Core: Fundamentals

    • 2 Videos
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2 Videos

  • Timing option
  • Risk neutral valuation

4.3. The Core: Valuation of Real Options

    • 5 Videos
    • 3 Assignment
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3 Assignment

  • Option to invest
  • Option to expand or contract
  • Option to abandon

5 Videos

  • Valuing an R&D project
  • Option to expand or contract
  • Answer to practice quiz 'Option to invest'
  • Answer to practice quiz 'Option to expand or contract'
  • Answer to practice quiz 'Option to abandon'

4.4 Beyond the Core: Technical videos (optional)

    • 2 Videos
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2 Videos

  • Option replication and risk neutral valuation
  • Multi-period, continuous, and compound models

4.5 Discussion

    • 1 Discussion
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1 Discussions

  • Real options in venture capital

Getting the Certificate (3/4)

    • 1 Readings
    • 1 Assignment
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1 Assignment

  • Test for certificate

1 Readings

  • Checklist

Case Study

    • 1 PeerReview
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1 Peer Review

  • Real options

5.1. Introduction to Option Games

    • 2 Videos
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2 Videos

  • Animation - Introduction to game theory
  • Animation - Introduction to option games

5.2. The Core: Fundamentals

    • 5 Videos
    • 3 Assignment
Show info about module content

3 Assignment

  • Simultaneous game
  • Sequential game
  • Game with asymmetric information

5 Videos

  • How to solve any game
  • How to solve a simultaneous game
  • Answer to practice quiz 'Simultaneous game'
  • Answer to practice quiz 'Sequential game'
  • Answer to 'Game with asymmetric information'

5.3. The Core: Advanced

    • 1 Videos
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1 Videos

  • How to solve an option game

5.4 Discussion

    • 1 Discussion
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1 Discussions

  • Game theory in bidding contests

Getting the Certificate (4/4)

    • 1 Readings
    • 1 Assignment
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1 Assignment

  • Test for certificate

1 Readings

  • Checklist

A Final Note

    • 1 Readings
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1 Readings

  • Goodbye message

Case Study

    • 1 PeerReview
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1 Peer Review

  • Game theory

Auto Summary

Discover 'Advanced Valuation and Strategy - M&A, Private Equity, and Venture Capital' by Erasmus University Rotterdam, an expert-level course designed for finance professionals and students. Dive into advanced valuation methods using DCF, real options, and game theory to make strategic business decisions. Led by industry experts, this course spans 960 minutes and offers flexible subscription options. Ideal for executives, venture capitalists, investment bankers, and finance enthusiasts, the course is structured into executive, student, and honors levels to cater to varied learning needs. Join now on Coursera to enhance your corporate finance and strategy skills.

Han Smit
Instructors

Han Smit

Dyaran Bansraj
Instructors

Dyaran Bansraj

Nishad Matawlie
Instructors

Nishad Matawlie

Yashvir Gangaram Panday
Instructors

Yashvir Gangaram Panday

Renée Spigt
Instructors

Renée Spigt