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FIN 70610 – Equity Valuation Professor Shane A. Corwin Fall Semester 2012 - Mod 2 |
- Final Grades:
- Download the syllabus (in pdf format).
- Course notes will be provided
in class or made available for download from this site. Course
notes and additional examples will be posted here as they become
available.
- Lecture 1
- Introduction to Bloomberg
- Article: Common Errors in DCF Models
- Article: McKinsey on The Right Role
for Multiples in Valuation
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- Lecture 2
- Lecture 3
- Example spreadsheet for Operating Lease and R&D Adjustments
- Additional notes related to Pension Accounting Adjustments
- Lecture 4
- Lecture 5
- Example Spreadsheet for calculating the Black-Scholes value of employee stock options.
- Lecture 6
- Check back here for Self-Study
Quizzes to use as an additional study tool.
- Click here to download the self-study quiz 1 (solutions)
related to present value calculations.
- Click here to download the self-study quiz 2 (solutions) related to cost of
capital calculations.
- Click here to download the self-study quiz 3 (solutions) related to measuring cash
flows.
- Click here to download the self-study quiz 4 (solutions) related to forecasting
future growth.
- Click here to download the self-study quiz 5 (solutions) related to final steps in
valuation.
- Click here to download the self-study quiz 6 (solutions) related to relative
valuation.
- Click here to download an
example midterm (solutions) from a previous
semester.
- Click here to download an
example final exam (Taser Financials, solutions) from a previous
semester.
Suggested
Problems and Textbook Supporting Materials:
- Throughout the
semester, I will provide example problems associated with the material we
cover in class. Solutions to these example problems will be available
below. Aswath Damodaran also provides extensive data and
information to support his textbook. This information can be
accessed at: Investment
Valuation (3nd edition) web page.
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Lecture Summaries and Example Problems |
Answers to Problems |
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Lecture 1 (Introduction
to Valuation: Ch. 1-3) |
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Lecture 2 (Estimating the Cost of Capital: Ch. 7-8) |
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Lecture 3 (Estimating and Forecasting Cash Flows: Ch. 9-10) |
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Lecture 4 (Estimating Growth and Terminal Value: Ch. 11-12) |
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Lecture 5 (Examples and Final Steps: Ch. 13-16) |
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Lecture 6 (Relative Valuation: Ch. 17-18) |
- The
Midterm Exam will be held on
Wednesday, November 14th.
- Click here to download an
example midterm (solutions)
from a previous semester. Click here to download an
additional example midterm (solutions)
from a previous semester.
- The Final Exam will be held on Monday, December 10th from 10:00-12:00.
- Click here to download an
example final exam (Taser Financials, solutions) from a previous
semester.
- The final valuation project is due by 5:00 p.m. on Friday, December 7th.
- Valuation Project Instructions - Please note that you should follow the instructions for the write-up very closely.
- Group Project Assignment 1 - Company and Industry background (due Monday, October 29th).
- Group Project Assignment 2 - Bloomberg data collection and comparables analysis (due Monday, November 5th).
- Group Project Assignment 3 - Cost of capital estimation (due Monday, November 12th).
- Group Project Assignment 4 - Cash flow estimation (due Wednesday, November 28th).
- Group Project Assignment 5 - Growth forecasts (due Monday, December 3rd).
- Click here to download my example valuation spreadsheet for Home Depot.
- Click here to download Damodaran's example valuation spreadsheets based on FCFF and FCFE. Numerous other spreadsheets and datasets are available on Damodaran's web site.
- Click here to download my Black-Scholes spreadsheet.
- Click here to download an Excel Example for calculating Beta.
- Click here to download default spreads by rating category as of August 2011.
- Click here to download articles related to estimating the equity risk premium by Siegel and Bruner et al.
Other Useful Links:
duLac: A Guide to Student Life
The Notre Dame Academic Code of Honor Handbook
Professor Corwin's Page of Finance and Business Links
Books Related to Markets, Trading, and Careers in Finance
Professor Corwin's Home Page
The Finance Department Home Page
The Mendoza College of Business Home Page
The Notre Dame Home Page