WIB21-WPM-W-400 P450-0096 wi3 1 V 1 U 3 5 no English Written exam WIBASc-525-625-W7 Industrial Engineering 5 optional course WIB21-WPM-W-400 Industrial Engineering 5 optional course 30 class hours (= 22.5 clock hours) over a 15-week period.The total student study time is 90 hours (equivalent to 3 ECTS credits).There are therefore 67.5 hours available for class preparation and follow-up work and exam preparation. Prof. Dr. Andy Junker aju Prof. Dr. Andy Junker aju After successfully completing this module, students will have learned about and understand the different reasons for a business valuation. They will be familiar with the relevant valuation methods and the derivation of a risk-adjusted discount rate (portfolio selection, CAPM, debt policy, Modigliani-Miller) They will understand the importance of an integrated corporate planning (P&L, cash flow and balance sheet) as a prerequisite for business valuation. Students will be able to analyze, estimate and apply the typical paramaters of a valuation (Beta, risk premium, cash flow). Students will be familiar with the highlights of German valuation standards (IDW S1, RS 10). A. Valuation as special case of capital budgeting B. Reasons for valuation C. Valuation methods 1. Asset value 2. Multiples 3. Net present value 4. DCF (Discounted Cashflow) D. Procedure 1. Planning i. Analysis of the past ii. Validation of planning 2. Non-operation assets 3. Discount rate iii. Portfolio Selection / CAPM iv. Beta / Modigliani-Miller / Inflation 4. Taxes 5. Distinctions E. Impairment test (IFRS) F. Summary PowerPoint handout, case studies, Excel model _ Brealey, R. / Myers, S. / Allen, F.: Principles of Corporate Finance, 10th edition, 2010 _ Copeland, Tom u.a.: Unternehmenswert; 3. Auflage, Campus Verlag, Frankfurt 2002 _ Damodaran, Aswath: Damodaran on Valuation; 2nd edition, John Wiley and Sons, New Jersey 2006 _ Drukarczyk, Jochen/Schüler, Andreas: Unternehmensbewertung; 6. Aufl., Vahlen, München 2009 _ Institut der Wirtschaftsprüfer: Grundsätze zur Durchführung von Unternehmensbewertungen (IDW Standard S1) i.d.F. vom 2.4.08. Tue Oct 13 17:26:12 CEST 2026, CKEY=wwxva, BKEY=wi3, CID=[?], LANGUAGE=en, DATE=13.10.2026