Teaching

Here I simply list and describe my classes. All teaching resources will be made available via Blackboard for registered users of the class.

Currrent Teaching

  • Present2012

    Corporate Valuation - MGT 6431

    Corporate Valuation explains the theoretical underpinnings of firm valuation and develops the analytical tools needed to build valuation models. We focus on intrinsic valuation using discounted cash flows and relative valuation using multiples. These valuation approaches typically apply to the valuation of companies (public, private, divisions, spin-offs, etc.) for stock transactions, private equity, and/and other mergers and acquisitions. Assignments are designed to improve your effective use of accounting and other economic data for asset valuation and corporate finance decisions. The course focuses on 1. Learning the quantitative mechanics to build accurate and internally consistent valuation models, 2. Developing good judgment about model inputs/assumptions.

  • Present2016

    Advanced Corporate Valuation - MGT 6443

    This course builds on Corporate Valuation (MGT 6431, formerly MGT 432a) by applying the methods of intrinsic valuation (discounted cash flow) and relative valuation (multiples) to more interesting, advanced, real world situations. Topics to be discussed may include valuing IPOs, energy firms, firms with abnormal or negative earnings, financial services firms, and distressed firms. This is not a course on portfolio theory, diversification, or optimization; our focus is on individual firms. It is also not a course on M&A per se, though it is closely related. Think of our environment as something like Berkshire Hathaway, private equity, or a large hedge fund that focuses on fundamental research. Alternatively, you could think of yourself as an equity analyst publishing research for the general investment community. We will not address leveraged buyouts, which has little to do with firm valuation and more to do with pricing tiered securities.