Valuing Project Achieve

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Evaluation of Financial Information Syllabus (Subject to minor changes) Spring 2012 Prof. Anna Scherbina UC Davis Graduate School of Management Office: 3212 Gallagher Hall Course Focus Tel: 530.754.8076 e-mail: We will learn how to use financial information to value firms, projects, and securities in a wide variety of industries, including real estate. The course will be based entirely on the Harvard Business School case studies and will focus on learning techniques of financial analysis, selecting an appropriate valuation model, analyzing the quality of financial data, finding an appropriate discount rate, and forecasting financial variables and cash flows. Corporate Finance course is strongly suggested as…show more content…
Topics covered: buy or rent decision, real estate markets, forecasting Session 2: • CASE: Health Development Corporation Topics covered: own or lease decision, the use of multiples Session 3: • CASE: Toy World, Inc. Topics covered: forecasting, production methods, balance sheet risks Session 4: • CASE: Ocean Carriers Topics covered: cash flow forecasting, macro forecasting Session 5: • INTERACTIVE LECTURE and AN IN-CLASS EXERCISE (please bring your laptops): Forecasting macro variables using international equity markets data CASE: Kerr-McGee Topics covered: hostile takeovers, real options Session 6: • Session 7: • CASE: Merck & Company: Evaluating a Drug Licensing Opportunity Topics covered: decision trees, probability trees, sunk costs, real options Session 8: • CASE: Valuing Project Achieve Topics covered: subscriber models, DCF valuation, forecasting 4 Session 9: • CASE:, Inc. Topics covered: subscriber models, forecasting Homework assignment due Session 10: • INTERACTIVE LECTURE and AN IN-CLASS EXERCISE (please bring your laptops): Asset Bubbles in Equity and Real Estate Markets CASE QUESTIONS: Module 1 Session 1 Case: Stedman Place Case Questions: 1. What is the cost of renting? 2. What is the cost of buying? 3. Identify the key assumptions and key unknowns that influence the buy-versus-rent decision.
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