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Overall Score : 94 / 100

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Course Description

Hi and welcome to this course! Would you like to learn about the latest valuation methods that may help you to make better business decisions? Then 'Advanced Valuation and Strategy - M&A, Private Equity, and Venture Capital' by Erasmus University Rotterdam is the right course for you! This course is helpful for executives that need to value complete strategies and for all students interested in corporate finance and strategy. We present the latest tools and show you how to apply them!We will revolutionize your way of decision making, by extending static techniques from corporate finance with dynamic methods to quantify strategic thinking. Traditionally, we assess the attractiveness of an investment as a mature business, where future cash flows mainly result from past decisions. But, in an ever-changing world, strategic decisions determine the firm's long-term success and market value. Yet managers often have to consider these long-term implications using intuition and experience alone, with little guidance from structured, quantitative analysis.Our treatment goes far beyond the use of standard valuation analysis. We introduce the expanded NPV, which brings together DCF, real options, and game theory. Thinking in terms of options, games, and adaptive strategies may help managers address strategic questions such as: How do you value a leveraged buyout? How can you value a high-tech venture with negative cash flows? When should you invest in new ventures in stages? How can you incorporate rival bidders in the analysis?The tools we provide can improve your decisions in business and in daily life.* Who is this class for?We hope that our course appeals to (graduate) students in finance, economics, and business, as well as to high-ranking professionals and a general audience. This course is particularly interesting for venture capitalists, private equity investors, investment bankers, CEOs, CFOs, and those who aspire these affiliations. We offer this MOOC at 3 levels:1.Executive Summary: This 1-week module provides critical insights into the principles of corporate valuation and strategy. This is accessible for time-constrained executives and the general audience without any prior knowledge.2. Student Level:This level involves an understanding of the technical details. This level requires basic knowledge of concepts in corporate finance, e.g., the time value of money, financial statement analysis, capital structure, and the relation between risk and returns. Learners of this level can skip week 1.3. Honors Level (honors certificate): This level is challenging, engaging, and compelling to an intellectually rigorous student.

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Instructor Details

Han Smit

Han T.J. Smit is currently Professor of Corporate Finance at Erasmus School of Economics of the Erasmus University Rotterdam and has been visiting fellow or scholar at NIAS (Netherlands Institute of Advanced Studies in the Humanities and Social Sciences), Harvard University and UC at Berkeley. He is interested in practical application of valuation models private equity and acquisition strategies. Han published articles in the fields of finance and strategy in established academic journals and practitioner journals (such as the Wall Street Journal). Recent books include Strategic Investment: Options and Games (with Trigeorgis) and Playing at Acquisitions (with Moraitis) both published with Princeton University Press. Han is coordinator and co-founder of the master program in financial economics of the Erasmus School of Economics.

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Reviews

4.7

130 total reviews

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By Pavel B on 27-Sep-18

This is a fantastic course that provides you with the all the necessary knowledge and tools to perform a valuation of any given company. Apart from that, this course will provide you with the understanding of real options and how they can be applied in valuation analysis. Professor Han Smit of Erasmus University Rotterdam, the Netherlands developed a unique approach to company valuation: while the majority of textbooks on this topic focuses only on DCF models, this course is the complete opposite as it. It combines all latest scientific knowledge on the subject of corporate finance, strategy and real options and take the best tools out of those discipline to connect them in one robust framework that will allow you to to perform valuation analysis of any given company and will make you to stand apart from your peers who blindly employ DCF analysis exclusively without considering assumptions that are necessary to perform valuation accurately. Well, now you have unique opportunity to acquire the best knowledge and tools of company valuation, that, apart from making you more knowledgeable in the field of finance, will make you better decision-maker, be it when it comes to investment or any other complicated decision-making process you will have to make. Due to the depth and attention to details that professor Smit makes when explaining the concepts of valuation analysis, perhaps the strongest point of Advanced Valuation and Strategy course is that you can start straight applying tools and technique you are about to learn from this course. The take away here: take this course, prepare to grasp the complex fundamentals of valuation analysis as well as prepare to learn techniques that real-word Finance professionals employ and you will acquire a comprehensive understanding of valuation analysis from a practitioner point of view.

By Gustavo T O on 30-Jan-19

In my opinion, this course should be better organised in terms of the information provided during webcasts/readings and the required knowledge to answer que quizzes (it does not always match). It was frustrating how long it took me to complete this course, since I had to do a lot of extra research in order to complete the tasks. Besides the missing information, there are also some minor errors in the material provided that end up being time consuming before you realise what's going on. Extra research is not a bad thing at all, but it should be considered when someone estimates how long it will take to complete the course (it took me much more than 5 hours a week). Maybe this course is too ambicious in terms of what it covers in five weeks, or maybe it is just my lack of experience in the topic, but that's why I decided to take the course in first place.

By Johan S on 26-Sep-18

Great topic, great content, great explanatory animations!

By sophie on 8-Dec-18

This course was fun to follow and actually taught me new insights! (eventhough I already had a lot of different finance courses). Would definitely recommend

By Tinyiko N on 20-Jan-19

Excellent course that has practical implementation in daily decision making. I assumed an overlap with the CFA syllabus, however this was more advanced in that it included option game valuation which in an insightful addition to strategic net present value. Thoroughly enjoyed the content and engagement on the discussion forums.

By Dan on 31-Jan-19

Very advanced course in corporate valuation and in corporate strategy. Having a good understanding of basic corporate finance topics is recommended.

By Baahu B on 4-Feb-19

What an excellent course! I like the way how difficult topics are explained through the awesome animated videos. The course is very challenging and of a very high level. I have learned a lot. Thank you for this wonderful course!

By Bo on 18-Jan-19

Great course for those that work and want a solid overview of important valuation material. More advanced content than in other courses and very helpful instructors!

By Mauro Q on 29-Jan-19

A must for all those engaged in Corporate Finance

By Abdallah M on 27-Dec-18

perfect course

By Tu Q T on 5-Aug-19

The course offers both excellent theoretical framework and quantitative rigor. Unconventional perspective shared by the professor you would not typically find in M&A textbooks out there.

By Loc T V N on 27-Sep-18

This course is insane!!! Help me get such a deep understanding about Corporate Strategy and its correlation with competitors in the market. It emphasizes on valuing assets/ company by using variety of methods and simultaneously illustrates its impact on management's decision. Very straightforward and highly recommended!