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LA MULTI ANI!

Inca nu m-am hotarat ce firma o sa folosesc pentru lucrarea de dizertatie. Probabil o


sa folosesc o firma listata la bursa , pt ca stiu ca au situatiile financiare anuale publicate; In fine , am
inceput sa schitez cat de cat forma lucrarii,axandu-ma in special pe studiul de caz intr-o forma dinamica
(pe ultimii 3 ani) si imbinat cu o analiza comparata :

Business valuations: Theory and a Case Study

I. Brief-Introduction for theory


1.1 Self –motivation for the title and company;
1.2 Reasons for valuying businesses and financial assets;
1.3 Information requirements for the purposes of carrying out a valuation;
1.4 Limitations of the different types of information available for valuying companies.
II. Study case for “Company”
 Financial history for the “company”( mini-description including the main indicators, such as no.
of employees, net profit, turnover, liquidity, and so on ,in a table (for last 3 years), and the
percentages of the growth/decline.)
2.1 Computation no 1 (C1) – valuation of a share using the dividend valuation model (DVM),
including the dividend growth model (DGM).

+ Text no 1 2.1.1(T1) –market capitalization definition.

2.2 C2 – market capitalization of “Company” using DVM and DGM.


2.2.1 T2 – difference between asset and income based valuation models.
2.3 C3 – “Company” valuation using the balance sheet , NRV and replacement cost asset-based
models.
2.3.1 T3 – Advantages and disadvantages of the methods used.

2.4 C4 – Business valuation for “Company” using the price/earnings(PE) ratio income-based model.

2.5 C5 - Business valuation for “Company” using the earnings yield income-based model.

2.6 C6 - Business valuation for “Company” using the discounted cash-flows (D.C.F.) income-based
model.

2.6.1 T4 – Advantages and disadvantages of the different income-based valuation models.

C7 – Computation of the value of irredeemable debt, redeemable debt, convertible debt and
preference shares. (optional)

(optional)
III. Market efficiency
1. Definition of market efficiency;
2. Clasification :
-markets that are not efficient at all; -weak form efficient; -semi-strong form efficient; -
strong –form efficient.
3. Evaluation of efficiency of a market in a scenario.
- describing the significance of investor speculation and the explanations of investor
decisions offered by behavioural finance;
- assessing the impact of the marketability and liquidity of shares in reaching a
valuation;
- main issues of the impact of market imperfections and pricing anomalies in reaching a
valuation.

 Short conclusions.

Am sa-l las in format Word, tocmai pt a putea “suferi” modificari/ ajustari.

Va multumesc, si toate cele bune in anul ce tocmai a sosit,

Alex,

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