PwC s Academy. Masterclass on. Business Valuation. By Professor Aswath Damodaran. Endorsed by

Transcription

1 Masterclass on Business Valuation By Professor Aswath Damodaran PwC s Academy Endorsed by

2 Valuation is not a Science. Valuation is not an Art. Valuation is a Craft. Faculty Aswath Damodaran is the Kerschner Family Chair Professor of Finance at the Stern School of Business at New York University and a pre-eminent authority on valuation. Being at NYU since 1986 he has received the Stern School of Business Excellence in Teaching Award. Professor Damodaran teaches the corporate finance and valuation courses in the MBA and executive programs. He is credited with numerous publications in academic journals and has authored several highly-regarded and widely-used books on valuation, corporate finance and investment management. His contributions to the field of Finance have been recognized many times over and the skill and enthusiasm when he speaks is backed by the impressive accolades received from students. He has been voted "Professor of the Year" by the graduating MBA class nine times during his career at NYU. Teaching & Education Prof. Aswath Damodaran is the Kerschner Family Chair Professor of Finance at the Stern School of Business at New York University. He received his MBA and PhD from the University of California in Los Angeles. He teaches the corporate finance and valuation courses in the MBA and executive programs. Being at NYU since 1986 he has received the Stern School of Business Excellence in Teaching Award.

3 Programme Objectives This session will provide you with latest tools and tehniques on valuation and how they could be applied in different business contexts. Further this session will bring together with limitations and caveats on the use of each tool, as well as extended examples of the application of each. Value any kind of firm in any market, using discounted cash flow models (small and large, private and public). Value a firm using multiples and comparable firms. Analyze and critique the use of multiples in valuation. Value firms in special situations, e.g. distressed or start ups. Estimate the effect on value of restructuring a firm. Why is it worth the value? Opportunity to listen to the pre-eminent expert in person and directly engage in dialogue. Learn and futher develope knowledge on valuation using a combination of traditional and advanced techniques. Understand intricacies of valuation including contemporary key topics covered such as Startup Valuation, Early Stage Business Valuation, and latest insights on emerging market valuation. On completion a certificate signed by Professor Damodaran, PwC's Academy and Institute of Mergers and Acquisition and Alliances Austria. This is not a conference you will be part of a highly interactive two day workshop. Network with your peers and industry professionals that face similar challenges when it comes to valuation. A great opportunity to meet old colleagues and make new contacts. Publications His research interests lie in valuation, portfolio management and applied corporate finance. He has published papers in the Journal of Financial and Quantitative Analysis, the Journal of Financial Economics and the Review of Financial Studies. He has published several books on valuation and on corporate finance.

4 About PwC s Academy We have been developing our own people for over 100 years and our ability to recruit, retain and grow talent has made us one of the largest and most successful professional services firms in the world. It is this deep experience of developing young professionals right through to successful business leaders that is built into all PwC s Academy programmes. Our value proposition includes customized executive education programmes designed and delivered to suit your firm s training needs. Our programs will be aligned with your strategy leading to financial rewards through an increased bottom line. In house executive education for your senior management team World class faculties, World class insights Plan your learning and development calendar with PwC s Academy. Our executive education programmes will be aligned with your strategy and delivered to suit your firm s training needs. We will work as your L&D partner and assist your organization by developing customized training programmes to address critical business issues while monitoring the execution and evaluating results. About PwC Our purpose is to build trust in society and solve important problems. In an increasingly complex world, we help intricate systems function, adapt and evolve so they can benefit communities and society whether they are capital markets, tax systems or the economic systems within which business and society exist. We help our clients to make informed decisions and operate effectively within them.

5 Programme Agenda Day One: The Discounted Cash Flow Model Setting up the Model The Big Picture of DCF Valuation Valuation Examples The Discount Rate Question Risk premiums and Betas The Cost of Debt Estimating Cash Flows Estimating Growth Rates Estimating Growth Patterns The Terminal Value Closing Thoughts on DCF valuation Day Two: Cash, Cross holdings and other assets The Value of Control, Synergy and Transparency The Liquidity Discount Employee Stock Options Challenges in Valuation Valuing young, growth companies Valuing mature companies in transition Valuing declining and distressed companies Valuing cyclical companies Valuing commodity companies Valuing financial service companies Valuing private businesses Relative Valuation Deconstructing multiples Comparable company valuation Who is it for? Chief Executive Officers, Board Members and Business owners who are valuating their business for public offering, sale or other reasons. Corporate financial staff, who want to understand the details of valuation, either because they are planning acquisitions or are interested in value enhancement strategies for their firms. Head of Business Development, Strategy and M&A and other employees involved in these activities. Chartered Accountants, Investment Bankers and Management Consultants involved in mergers and acquisitions, who would like to acquire a wider repertoire of valuation skills. Equity research analysts, who are interested in examining alternatives to the multiples that they use or the linkage to discounted cash flow models. Portfolio Managers who are interested in the effects of corporate restructuring on firm value, and the implications for portfolio management. Investors such as Business Angels, Venture Capital, Private Equity, and Family Offices.

6 Workshop details Early Bird Fee: 195,000/- + NBT* (Valid till 10 November 2017) Regular Price: 225,000/- + 2% NBT 5% discount for CFA members Dates: 22 & 23 January 2018 Venue: Shangri - La Hotel, Colombo Contact details for registrations: academy.srilanka@lk.pwc.com PwC s Academy 100 Braybrooke Place Colombo 02, Sri Lanka /18 PricewaterhouseCoopers Academy (Private) Limited, Limited Liability Company incorporated in Sri Lanka. All rights reserved