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Cases in Valuation and Finance (MSB370)

This is a case course in finance. The course integrates what has been taught in other finance courses, and applies it to real-life finance situations. Many of these finance situations will be viewed through the lens of the valuation of projects, companies or assets.


Course description for study year 2022-2023. Please note that changes may occur.

Facts
Course code

MSB370

Version

1

Credits (ECTS)

10

Semester tution start

Autumn

Number of semesters

1

Exam semester

Autumn

Language of instruction

English

Content
This course integrates what has been taught in other finance courses. This course is a case course in which selected cases are presented and discussed in class. Many of the cases analyze companies through the lens of corporate valuation, although there are also cases in which the focus is on alternative finance issues, such as investments, corporate social responsibility, derivatives, securities issuance, mergers and acquisitions.
Learning outcome

Knowledge

Upon completion of the course, the candidate will be able to

  •  master the components of valuations, including the estimation of cash flow, growth, cost of capital, horizon value, present value calculations, and ratio analysis.        
  •   recognise how ESG (environmental, societal and governance) factors affect corporations.
  •    identify the value drivers (from a finance perspective) in a given corporate situation.

Skills

Upon completion of the course, the candidate will be able to

  • master corporate valuations, performing all necessary analyses, such as the evaluation of a corporation's real investments, financial choices, and strategy.        
  • build spreadsheets evaluating the cash flow consequences of a firm's plans, bringing in data from the corporations' environment as well as the corporate plans.
  • assess annual accounts and analyse them to recognise the cash flows that are relevant for valuation.
  • question the sensitivity of any decision-relevant estimate.  
  • recognise how valuation is an integrated perspective in the field of finance, and the basis for all corporate decisions.
  • ask critical questions about finance-related business situations; use of method, assumptions and calculated value.
  • communicate central finance concepts, both written and oral, in business settings.
Required prerequisite knowledge
One of the following alternatives:
MSB309 Corporate Finance
MØA309 Corporate Finance and Governance
Recommended prerequisites
MSB205 Investments, MØA205 Investments
Exam

Handins of cases in groups and written exam

Form of assessment Weight Duration Marks Aid
Handins of cases in groups 2/5 Letter grades
Written exam 3/5 4 Hours Letter grades Valid calculator

The resit for the first part of the exam submission of group cases) will be the individual submission of one case. The resit for the second part (written exam) will comprise one written exam. 

Coursework requirements
80% obligatory presence in all case presentations.
The list of cases will be announced at the start of the semester.
Course teacher(s)
Course coordinator: Bernt Arne Ødegaard
Study Program Director: Yuko Onozaka
Method of work
Students will work together in groups of up to three people and will discuss the cases before class. Some of the cases will be submitted as written case solutions. All cases will be discussed in class. All students must be present and prepared to participate in case discussions.
Overlapping courses
Course Reduction (SP)
Cases in Finance (MØA370_1) 10
Cases in Valuation (MSB370A_1) 5
Open for
Master in Accounting and Auditing Business Administration - Master of Science Business Administration - Master of Science (5 years)
Course assessment
Students will have the opportunity to give feedback on the course first in an early dialogue, and then in a written course evaluation at the end of the course.
Literature
The syllabus can be found in Leganto