Кто читает:: Департамент финансов

Статус:: Курс обязательный

Когда читается:: 3-й курс, 3 модуль

Преподаватели

Витман Егор Денисович

Мустафин Альмир Айратович

Назарова Варвара Вадимовна

Full Syllabus Ask Question

Abstract

This course examines contemporary approaches to investment decision-making in conditions of uncertainty and evolving economic environments. The course covers approaches to analysing financial assets, methods for assessing investment attractiveness, principles of investment strategy development, capital allocation frameworks, and tools for evaluating investment performance and risk.

Learning Objectives

To develop a systematic understanding of investment decision-making processes and investment strategy design.
To introduce contemporary approaches to analysing financial assets and assessing their investment attractiveness.
To develop the ability to adapt investment decisions to changing market and institutional environments.
To examine methods of capital allocation and investment risk management.
To strengthen the application of quantitative models and analytical tools in supporting investment decisions.
To develop the ability to evaluate investment performance in the context of external factors and changing market conditions.

Expected Learning Outcomes

Be able to build a model of financial management, based on a system covering all aspects of the activities of a modern company with the release levels and planning horizon (e.g. using KPI)
Gain knowledge and skills in order to make management decisions in this area
Know and be able to use special terminology of financial strategic management
To know the essence of the economic, organizational and social changes that occur in domestic companies with a shift of emphasis from production to marketing principles of planning and management
Be able to build a model of financial management, based on a system covering all aspects of the activities of a modern company with the release levels and planning horizon (e.g. using KPI)
Gain knowledge and skills in order to make management decisions in this area
Explore the possibilities of software for creating and using the valuation;
Know and be able to use special terminology of financial strategic management.
Know the patterns of functioning of a modern economy at the macro and micro levels
To know the essence of the economic, organizational and social changes that occur in domestic companies with a shift of emphasis from production to marketing principles of planning and management

Course Contents

Topic 1. Corporation and the investment process. Corporate investment management system
Topic 2. Designing cash flows of an investment project
Topic 3. Analysis of the effectiveness of capital investments
Topic 4. Investment projects and methods of financing them
Topic 5. Evaluation of projects with unequal deadlines.
Topic 6. The method of real options when evaluating investment projects
Topics 7. Evaluation of the project in conditions of uncertainty and risk
Topic 8. Framework for Corporate Valuation
Topic 9. Value Creation Company
Topic 10. Practice in companies valuation

Assessment Elements

Group work (home work)
Var.1: 1) propose a business idea to create a new product 2) Description of the company's investment activities: investment potential, main projects being implemented, main areas of investment, sources of investment financing. Key results of ongoing projects. Outline the specifics of the company's investment activities 3) Description of the selected investment project. The purpose of the project, the timing of the project, the main sources of funding. Creation of a calculation model: income, expenses. The choice of the discount rate and its justification. Calculation of project efficiency: key parameters of the assessment. Identifying project risks and developing a risk management policy Provided 2 files: a presentation describing the company's investment policy and the main results of the project Calculation file with a full description of all financial indicators and project results You can also provide a description of the entire job with a project report in a separate document Var.2) A company can be selected as a valuation object The assignment involves justification of the object of valuation, selection of valuation approaches, structured calculation, reasonable conclusions, development of a strategy to increase the value of the selected object. Which companies are of interest: large business, companies in mergers/acquisitions, international business or assets - large, promising for valuation. The calculation file contains a comprehensive calculation of all valuation items, valuation assumptions may be included. The description can be made in the form of a descriptive document, which provides justification of the object of valuation, approaches used, results obtained and recommendations. The description file may be in the form of a presentation, including the rationale for the valuation and the main conclusions. In the conclusion it is necessary to compare the obtained results with the calculations of the company's value proposed on the DIFAN website.
Exam
It is conducted in the form of a defence of the project in front of the commission, involves answering questions and comments on the project
Midterm
Written individual work, including solving tests and problems on the passed materials. Control work is conducted in close book format
In class activities
Active participation in discussions, problem solving, preparation of supplementary materials, participation in discussions at lectures and seminars

Interim Assessment

2025/2026 3rd module
0.4 * Midterm + 0.25 * Exam + 0.25 * Group work (home work) + 0.1 * In class activities

Bibliography

Recommended Core Bibliography

Corporate finance: theory and practice, Damodaran, A., 2001
Investment valuation : tools and techniques for determining the value of any asset, Damodaran, A., 2012
Valuation: measuring and managing the value of companies, Copeland, T., 2000
Инвестиционные рычаги максимизации стоимости компании. Практика российских предприятий, Теплова, Т. В., 2007

Recommended Additional Bibliography

Инвестиции : учебник для бакалавров, Теплова Т.В., 2012
Корпоративные финансы: перспективы и реальность. Управление стоимостью компании: Сборник статей, , 2006

Authors

Soloveva Ekaterina Evgenevna
Nazarova Varvara Vadimovna

Бакалаврская программа «Международная программа по бизнесу и экономике»

Контакты

Investment Analysis