Cases in Finance (Seminar)

Dates & Announcements
Lecture

19.02.2019, 14:15h - 17:00h
05.03.2019, 14:15h - 17:00h
19.03.2019, 14:15h - 17:00h
02.04.2019, 14:15h - 17:00h
09.04.2019, 14:15h - 17:00h
30.04.2019, 14:15h - 17:00h
14.05.2019, 14:15h - 17:00h

room: Seminarraum A101, UniS

General information about the course
Course description This seminar exposes students to real world case studies covering various aspects of valuation and financial structuring, including cash flow forecasting, discount rate estimation, firm valuation, and financial structuring. The students work in teams to come up with case study solutions which they present in class.
Audience/Enrollment 

The number of participants is limited to 24 students. To enroll for the seminar please send an email (with the subject title "Cases 2019") with your current and complete transcript of grades and your intended date of graduation to Jan Pichler. We will only consider applications that fulfill all relevant prerequisites. The deadline for all applications is February 8th, 2019 (extended to February 11, 2019). The final list of participants will be announced by February 12, 2019.

Aims
  • Students use the case study method to apply concepts learned in prior corporate finance classes.
  • Student assess investment, financing, and restructuring decisions using case studies that illustrate real situations that corporations face.
  • The case studies deal with the following corporate decisions: Capital budgeting, financing decisions, the interaction between investment and financing decisions, and corporate restructuring decisions.
  • Corporate restructuring decisions include Mergers and Acquisitions, Leveraged Buy Outs, Initial Public Offering, Spinoffs, SEOs, Going private, Debt or equity issuances and repayments.
  • Students apply various valuation methods to assess and choose between alternative investment opportunities. Valuation methods applied are DCF, Capital Cash Flows, EVA, Multiples, and Real Options.
  • Students learn how to incorporate organizational and economic synergies into the valuation process.
  • Students evaluate corporate financing decisions, and their effect on the cost of capital.
  • Students analyze the impact of diverging interests in the firm on financing and investment decisions.
  • Students apply sensitivity analysis to test the impact of assumptions made in the analysis on the decision.
  • Students learn to deal with situations with incomplete information and to provide reasonable assumptions necessary to make investment and financing decisions.
  • Students write concise reports and hold convincing presentations in class
Credits, Cycle 6 ECTS / 3 hours per week, lecture cycle
Degree MSc
Lecturer Philip Valta
Assistant Jan Pichler
Prerequisites B Sc BA and Advanced Valuation; it is recommended to attend this course at the end of the master program.
Bibliography Loderer, C., Jörg, P., Pichler, K., Roth, L., Zgraggen, P., Handbuch der Bewertung, 2007, NZZ Verlag.
Course evaluation Case studies and active student participation in class