Analysis and Valuation of Emerging Market Firms

Catalog description

This course examines the unique institutional, governance, and transparency issues affecting corporate valuations in emerging markets. Through lectures, case discussions and the students' real-time analysis of an emerging market firm, this condensed course is structured for students to gain a deeper understanding of the economic pressures behind the value creation, value destruction, and valuation process in emerging economies. The course focuses on critically interpreting financial and non-financial information for purposes of assessing firm fundamentals and risk in the presence of weak legal systems, strong political forces, limited investor protections, limited market development, strong macro-economic forces, opacity, and resultant business arrangements. The course is beneficial for investors, consultants, managers, and entrepreneurs operating in or considering expansion to developing markets.