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DRPS : Course Catalogue : Business School : Common Courses (Management School)

Postgraduate Course: Financial Valuation (CMSE11403)

Course Outline
SchoolBusiness School CollegeCollege of Arts, Humanities and Social Sciences
Credit level (Normal year taken)SCQF Level 11 (Postgraduate) AvailabilityNot available to visiting students
SCQF Credits10 ECTS Credits5
SummaryThe course provides an overview of the valuation of financial assets in the Information age. It is organised in three parts. It first introduces the concept of measurement and how accounting information is used to assess the value of financial instruments. It then distinguishes between relative and absolute methods to determine the value of financial assets. Finally, it delves into a range of valuation tools and techniques.
Course description Outline Content
Below are some of the issues that the course covers, these are not specific lecture titles:

The foundations of financial value
Approaches to financial valuation
Data for financial valuation
Discounted cash flow valuation
Narrative and numbers: connecting stories to financial value
Relative financial valuation
Multiples and their right use

The learning outcomes will be achieved by the information provided in lectures, by the exercises solved in tutorials, reviewing the academic literature and working on individual assignments.
Entry Requirements (not applicable to Visiting Students)
Pre-requisites Co-requisites
Prohibited Combinations Other requirements None
Course Delivery Information
Academic year 2020/21, Not available to visiting students (SS1) Quota:  None
Course Start Semester 1
Timetable Timetable
Learning and Teaching activities (Further Info) Total Hours: 100 ( Lecture Hours 20, Seminar/Tutorial Hours 9, Programme Level Learning and Teaching Hours 2, Directed Learning and Independent Learning Hours 69 )
Assessment (Further Info) Written Exam 0 %, Coursework 100 %, Practical Exam 0 %
Additional Information (Assessment) Individual assignment (assesses all LOs) - 100%

Feedback Formative feedback is provided through weekly seminars. Students are strongly encouraged to ask questions and participate in group discussions.

Summative feedback will comprise individual feedback on the course assessment.
No Exam Information
Learning Outcomes
On completion of this course, the student will be able to:
  1. Understand the objectives and the main characteristics of the foundations of financial value
  2. Understand and critically assess the results of financial valuation
  3. Understand and critically discuss the implications for financial valuation in the 'information era'
  4. Decide the most suitable valuation technique vis--vis the characteristics of the data and the investment objective.
  5. Critically evaluate the limitations of the techniques used in financial valuation
Reading List
Core textbooks:
Tim Koller, Marc Goedhart, David Wessels. Valuation: Measuring and Managing the Value of Companies (Wiley Finance) 6th Edition

Aswath Damodaran. Investment Valuation: Tools and Techniques for Determining the Value of any Asset, University Edition 3rd Edition

Additional Information
Graduate Attributes and Skills Applied knowledge, skills and understanding
On completion of the course a student should be able to:
-Use a range of specialised skills, techniques, practices and/or materials

Cognitive Skills
On completion of the course a student should be able to:
-Perform quantitative analyses in accordance with the type of data used
-Plan and execute a significant project of empirical research or investigation

Subject Specific Skills
After completing this course, students should be able to:
-use a range of techniques to determine the value of a financial asset
-interpret and value financial news
-use quantitative and qualitative information to value investment opportunities
KeywordsNot entered
Course organiserDr Abhishek Srivastav
Tel: (0131 6)51 1067
Course secretaryMrs Kelly-Ann De Wet
Tel: (0131 6)50 8071
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