BUSINESS VALUTATION, PRACTICAL EXPERIENCE

Degree course: 
Corso di Second cycle degree in ECONOMICS, FINANCE AND BUSINESS LAW
Academic year when starting the degree: 
2019/2020
Year: 
2
Academic year in which the course will be held: 
2020/2021
Course type: 
Optional subjects
Language: 
Italian
Credits: 
3
Period: 
Second semester
Standard lectures hours: 
20
Detail of lecture’s hours: 
Lesson (20 hours)
Requirements: 

No advanced preparation or prerequisites are needed for this course

Final Examination: 
Orale
Assessment: 
Voto Finale

The course aims to provide specialist knowledge of the theoretical and operating framework of business valuation, all of which with the help of case studies.
As a matter of fact, the analysis of the valuation process implies, on the one hand, the definition and selection of general theoretical models, on the other hand their application in the real case.
The specifications concerning the different valuation methodologies, which will be addressed in the course not only on the theoretical level, therefore represent the knowledge necessary for the development of skills to face and provide concrete solutions and consistent with the theoretical context, in order to value a business, also by identifying the most critical issues.
At the end of the course the student:
• will be able to understand the main methodologies used to value a business;
• will be able to recognize the critical issues usually faced in valuing a business;
• will be able to apply the techniques for the concrete solution of the most recurring problems.

The course programme includes:
- Theoretical framework and valuation methodologies:
• Adjusted net asset method;
• Income approach;
• Combined methods;
• Discounted cash flow analysis;
- Comparative valuations: stock market multiples approach and deal multiples approach;
- The valuation of equity investments;
- Case studies;
• the value of the commercial license;
• supplementary capital;
• latent taxation in the valuation of equity investments
• the value of the brand
• the valuation of equity investments that do not adequately remunerate the invested capital;
• the valuation of distressed firms;
• the valuation for the purpose of payment of substitute tax for the shares;
• The valuation of a group based on the consolidated financial statements
• The valuation of equity investments representing a non- material percentage of the share capital

Convenzionale

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Borrowed from

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