Programmes

Applied Valuation and Securities Analysis

  • Summer schools
  • Department of Accounting
  • Application code SS-AC315
  • Starting 2018

The focus of this equity research course is very much applied, and it adopts a case-study approach to value stocks and companies using financial statements.

Special attention will be dedicated to initial public offerings (IPO) and valuing of young, fast-growing companies. The course also helps students to develop a scientific approach towards fundamental analysis with a view to trading profitably.  

Students are invited to work in small groups and value stocks.  The course includes a valuation-based IPO game in which students working in small groups are competing to advise on an IPO offering. 

This course should appeal to students interested in equity research, asset management, corporate finance and strategy consulting.

Dates for 2018 to be confirmed


Session: Three
Dates: 31 July - 18 August 2017
Lecturers: Dr Vasiliki Athanasakou and Dr Pascal Frantz


 

Programme details

Key facts

Level: 300 level. Read more information on levels in our FAQs

Fees:  Please see Fees and payments

Lectures: 36 hours 

Classes: 18 hours

Assessment*: Written examination and project work

Typical credit**: 3-4 credits (US) 7.5 ECTS points (EU)


*Assessment is optional

**You will need to check with your home institution

For more information on exams and credit, read Teaching and assessment

Prerequisites

Introductory accounting (including basic financial analysis) and finance.

Programme structure

  • Valuation methods;
  • Valuation application using Excel (financial modelling)
  • Performance analysis and implications for valuation;
  • Quality of financial statements and implications for valuation
  • Valuations in special settings (IPOs, young and high growing companies)
  • Common errors in company valuations;
  • Analysis of growth and sustainable earnings
  • Relative valuation

Course outcomes

Students will gain an understanding in valuation techniques through a case study approach.

 

Teaching

The Department of Accounting continues to enjoy a reputation as one of the leading groups in the world for teaching and research on the economic, institutional and organisational aspects of accounting and financial management. The department strives to combine 'global appeal' with a distinctive 'European orientation' in terms of institutional knowledge and affiliations, as well as intellectual traditions.

 

Reading materials

Valuation and Security Analysis, by Beccalli and Frantz (2013). [online]

Financial Statement Analysis and Security Valuation, by Penman, (2013) McGraw Hill, 2007.

*A more detailed reading list will be supplied prior to the start of the programme

**Course content, faculty and dates may be subject to change without prior notice

Applications open in November - Join our mailing list

Applications open in November - Join our mailing list

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