In this course, participants will develop an understanding of the intuitive foundations of asset and investment valuation, and how alternative valuation techniques may be used in practice. This is part of a Specialization in corporate finance created in partnership between the University of Melbourne and Bank of New York Mellon (BNY Mellon).
View the MOOC promotional video here: http://tinyurl.com/h75pzt6
Этот курс входит в специализацию ''Специализация Основы корпоративных финансов'
Альтернативные подходы к оценке стоимости инвестиционного портфеля и инвестированию
от партнера
Программа курса: что вы изучите
Неделя
13 ч. на завершение
Defining Attitudes Towards and Alternative Measures of Risk
This week we will define a statistical measure of stand-alone risk as being the standard deviation of returns. We will describe three alternative attitudes towards risk, settling on risk aversion as being the standard assumption made in financial markets. We will then analyse the impact of combining assets into a portfolio upon both risk and return and then quantify the benefits from diversification by comparing performance against a suitable benchmark.
6 видео ((всего 58 мин.)), 7 материалов для самостоятельного изучения, 2 тестов
6 видео
1.0 Welcome and Introduction2мин
1.1 Measuring stand-alone risk (Just the same old standard deviations)13мин
1.2 Alternative attitudes towards risk (I don’t hate risk, I’m just averse to it...)13мин
1.3 Portfolio Return and Risk (The more the merrier…)11мин
1.4 Defining the Diversification Benefit (It’s All About the Eggs and Baskets...)14мин
7 материала для самостоятельного изучения
Course Syllabus10мин
Your Teaching Team10мин
Week 1 Outline10мин
Start of Course Survey10мин
Resources10мин
Social Media10мин
Study Tools and Tips10мин
2 практического упражнения
Week 1 Practice Quiz - This quiz does not contribute to your final grade30мин
Week 1 Graded Quiz - This quiz contributes 10% towards your final grade30мин
Неделя
22 ч. на завершение
Linking risk with expected return
This week we differentiate between systematic and unsystematic risk and explain how the expected returns that are reflected in the prices of assets should be linked to only one type of risk. We illustrate how the Capital Asset Pricing Model might be used to link systematic risk with expected return and then discuss the empirical shortcomings of the model. This leads to a description of more advanced models and we conclude with a review of survey evidence that considers the approach taken by finance mangers of large listed firms in practice.
7 видео ((всего 49 мин.)), 1 материал для самостоятельного изучения, 2 тестов
7 видео
2.0 Introduction1мин
2.1 Unsystematic versus Systematic Risk (Getting rid of unrewarded risk)13мин
2.2 Capital Asset Pricing Model (It’s all about the discount rate)8мин
2.3 Empirical Evidence of the Capital Asset Pricing Model (Testing the untestable...)10мин
2.4 Multi-factor Models and Evidence from the Field (Risk factors – the more the merrier!)9мин
Mid Course Check-in2мин
A View from Industry with BNY Mellon1мин
1 материал для самостоятельного изучения
Week 2 Outline10мин
2 практического упражнения
Week 2 Practice Quiz - This quiz does not contribute to your final grade30мин
Week 2 Graded Quiz - This quiz contributes 10% towards your final grade40мин
Неделя
32 ч. на завершение
Using financial statement analysis to measure cost of capital
This week we will explain the logical underpinnings of the Weighted Average Cost of Capital Formula and show how it might be estimated in practice by a firm. We will also consider the many challenges that might be faced in using this approach to estimating hurdle rates and conclude with a warning about the perverse outcomes that might occur if the technique is used in a haphazard manner.
5 видео ((всего 41 мин.)), 1 материал для самостоятельного изучения, 2 тестов
5 видео
3.1 Foundations of the WACC (Finance is so WACC!)11мин
3.2 WACC and Debt (WACC-Owe!)11мин
3.3 WACC and Equity (Share the WACC-iness)6мин
3.4 Issues with WACC (To WACC or not to WACC..?)9мин
1 материал для самостоятельного изучения
Week 3 Outline10мин
2 практического упражнения
Week 3 Practice Quiz - This quiz does not contribute to your final grade30мин
Week 3 Graded Quiz - This quiz contributes 10% towards your final grade40мин
Неделя
410 ч. на завершение
Addressing financial reality with real options analysis
This week we describe how standard NPV analysis might lead to incorrect decisions when we fail to account for the impact of (or upon) firm flexibility. We then describe the three most common types of real options that firms face in practice and then explain how decision trees might be used to arrive at an approximation of the value of the real option that is embedded within a project. We conclude by considering empirical evidence on the take-up of real options analysis and discuss the situations in which real options analysis might most be needed.
5 видео ((всего 39 мин.)), 4 материалов для самостоятельного изучения, 4 тестов
5 видео
4.1 The Problem with NPV (It always works… except when it doesn’t…)6мин
4.2 Examples of Real Options in Practice (Is that an option in your project?)11мин
4.3 Approximation of Real Option Values Using Decision Trees (Options do grow on trees!)9мин
4.4 Empirical evidence and final points (Does anyone exercise their option to use real options?)8мин
4 материала для самостоятельного изучения
Week 4 Outline10мин
Academic Integrity10мин
Where to From Here? The Next Step.10мин
End of Course Survey10мин
3 практического упражнения
Week 4 practice quiz - This quiz does not contribute to your final grade30мин
Week 4 graded quiz - This quiz contributes 10% towards your final grade30мин
Course Final Exam - This quiz contributes 40% towards your final grade20мин
4.7
Рецензии: 20Лучшие рецензии
the videos were very interesting though they were a bit longer as compared to the other courses, making this course more challenging
The content in this course is more interesting than that of the previous three. This was my favourite course in the specialization.
Преподаватели
Paul Kofman
Dean, Faculty of Business and EconomicsSidney Myer Chair of Commerce
Sean Pinder
Associate ProfessorFaculty of Business and Economics
О Мельбурнский университет
The University of Melbourne is an internationally recognised research intensive University with a strong tradition of excellence in teaching, research, and community engagement. Established in 1853, it is Australia's second oldest University.
О специализации ''Основы корпоративных финансов'
You will gain a firm understanding of corporate finance, including accounting principles and financial analysis, how value is created by global markets, the choices firms face when making financial decisions and defining attitudes towards risk. The Specialization concludes with a Capstone project that allows you to apply the skills you've learned throughout the courses.
Часто задаваемые вопросы
Когда я получу доступ к лекциям и заданиям?
Зарегистрировавшись на сертификацию, вы получите доступ ко всем видео, тестам и заданиям по программированию (если они предусмотрены). Задания по взаимной оценке сокурсниками можно сдавать и проверять только после начала сессии. Если вы проходите курс без оплаты, некоторые задания могут быть недоступны.
Что я получу, оформив подписку на специализацию?
Записавшись на курс, вы получите доступ ко всем курсам в специализации, а также возможность получить сертификат о его прохождении. После успешного прохождения курса на странице ваших достижений появится электронный сертификат. Оттуда его можно распечатать или прикрепить к профилю LinkedIn. Просто ознакомиться с содержанием курса можно бесплатно.
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