Corporate Value Management - The Owen Graduate School of ...
Corporate Value Management - The Owen Graduate School of ...
Corporate Value Management - The Owen Graduate School of ...
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Kaplan, S. and R. Ruback, “<strong>The</strong> Valuation <strong>of</strong> Cash Flow Forecasts: An Empirical Analysis”, Journal<strong>of</strong> Finance (September 1995), 1059-1093.CASES: Pinkerton (A), HBS 9-291-051Nova Chemical Corporation, HBS 9-290-059Topic V. Optimal Capital Structure and Adjusted Present <strong>Value</strong> (1 Lecture and 1 Case)Brealey-Myers, 6 th edition, 1999, Chapter 17 (473-488), and Chapter 18 (499-516, 522-528) andChapter 19 (555-563).Copeland-Koller-Murrin, 3 rd edition, 2000, Chapter 8 (146-150).Luehrman, T., “Using APV: A Better Toll for Valuing Operations,” Harvard Business Review (May-June 1997).Miller, M. “Debt and Taxes,” Journal <strong>of</strong> Finance (May 1977), 261-276.DeAngelo, H. and R. Masulis. “Optimal Capital Structure Under <strong>Corporate</strong> and Personal Taxation.”Journal <strong>of</strong> Financial Economics (March 1980), 3-29.CASE: American Home Products, HBS 9-283-065.Topic VI. Option Pricing Applications in <strong>Corporate</strong> Finance (1 Lecture and 1 Case)Brealey-Myers, 6 th edition, 1999, Chapter 20 (601-608), and Chapter 21 (619-628).Copeland-Koller-Murrin, 3 rd edition, 2000, Chapter 20 (399-423).Trigeorgis, L. “Real Options and Interactions with Financial Flexibility.” Financial <strong>Management</strong>(Autumn 1993).CASE: Arundel Partners, HBS 9-292-140.Topic VII. Group Project Presentations
CORPORATE VALUE MANAGEMENTCLASS SCHEDULELecture Date Topics1 Mon, Aug 23 Valuation by Multiples2 Wed, Aug 25 Determinants <strong>of</strong> <strong>Value</strong>Names <strong>of</strong> group members via email by 5 PM today3 Mon, Aug 30 Case 1: ARCH communications – Valuation by Multiples4 Wed, Sep 1 Costs <strong>of</strong> Capital5 Mon, Sep 6 Case 2: Marriott Corporation – <strong>The</strong> Cost <strong>of</strong> Capital6 Wed, Sep 8 Forecasting and Valuing Free Cash Flows – Lecture 17 Mon, Sep 13 Case 3: Pinkerton (A) – Valuation & Forecasting8 Wed, Sep 15 Forecasting and Valuing Free Cash Flows – Lecture 2Company name for group project due by 5PM today9 Mon, Sep 20 Case 4: Nova Chemical Corporation – Valuation & Forecasting10 Wed, Sep 22 Capital Structure and Adjusted Present <strong>Value</strong> (APV)11 Mon, Sep 27 Case 5: American Home Products – Capital Structure12 Wed, Sep 29 Pricing Applications (Real Options)13 Mon, Oct 4 Case 6: Arundel Partners – Real Options14 Wed, Oct 6 Group Project Presentations
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