Every choice a corporation makes has financial implications. By anupam nagar valuation guru aswath damodaran says companies, like human beings, have a life cycle and a firms valuation should be able to reflect its position in the lifecycle. There are as many models for valuing stocks and businesses as there are analysts performing valuations. Corporate finance by aswath damodaran lecture 1 youtube. I imagined it to be a dull and generally worthless subject however aswath damodaran s lectures are entirely different corporate finance is, curiously enough a very interesting subject. Aswath damodaran, distinguished author, professor of finance, and david margolis, teaching fellow at the nyu stern school of business, has delivered the newest edition of applied corporate finance this readable text provides the practical advice students and practitioners need rather than a sole concentration on debate theory, assumptions, or models. I describe myself as a teacher first, who also happens to love untangling the puzzles of corporate finance and valuation, and writing about my experiences. Throughout the text, real companies and real data are used in examples and exercises. It worked out this way who would imagine corporate finance to be interesting. Seng the table in october 20 aswath damodaran twitter. But if you ask me what to take first, then obviously corporate finance and then advanced valuation class. This readable text provides the practical advice students and practitioners need rather than a sole concentration on debate theory, assumptions, or.
Written by renowned teacher, author, and valuation authority aswath damodaran, and fully revised and updated from its topselling first editionwhich has become the essential reference for any professional needing accurate and reliable valuation informationthis invaluable book now provides you with. In corporate finance with professor aswath damodaran, students become familiar with this big picture of corporate finance while also learning the intricate theories and techniques that are crucial to maximizing shareholder value. The life cycle stage 2 young growth stage 1 startup stage 4 mature growth stage 6 decline revenues. I teach classes in corporate finance and valuation, primarily to mbas, but generally to anyone who will listen. As an example, the table that contains the dividend yields and payout ratios by industry sectors for the most. Download applied corporate finance, 4th edition pdf ebook. The first is the objective function, where we define what exactly the objective in decision. Valuation with aswath damodaran nyu stern executive education.
Welcome to the web site for applied corporate finance, 4th edition by aswath damodaran. Aswath damodaran holds the kerschner family chair in finance education and is professor of finance at new york university stern school of business. He could very well have been describing some equity research analysts and many investors, a surprising number of whom subscribe to. Below are chegg supported textbooks by aswath damodaran.
He treats corporate finance as a living discipline by making it much more applied than other textbooks. View aswath damodarans profile on linkedin, the worlds largest professional community. About financial modeling damodaran damodaran is a professor at nyu stern and teaches a variety of corporate finance classes on topics that include financial modeling and valuation analysis. He has been called wall streets dean of valuation, and is widely respected as one of the. Aswath damodaran born 23 september 1957, sometimes known as the dean of valuation, is a professor of finance at the stern school of business at new york university kerschner family chair in finance education, where he teaches corporate finance and equity valuation. Aswath damodaran is a professor of finance at the stern school of business at new york university, and teaches the corporate finance and equity valuation courses in the mba program. The project details corporate governance analysis the classical viewpoint the objective in decision making maximizing shareholders wealth shareholder interests vs. This video is a part of online course on corporate finance by professor aswath damodaran of nyu. Jun 26, 2019 aswath damodaran is considered as an authority on both valuation and corporate finance. This web site gives you access to the rich tools and resources available for this text. Corporate finance with aswath damodaran new york university. Aswath damodaran is a professor of finance at the stern school of business at new york university kerschner family chair in finance education, where he teaches corporate finance and equity valuation. Other readers will always be interested in your opinion of the books youve read.
Nyu stern aswath damodaran kerschner family chair in. Applied corporate finance 4th aswath damodaran download. Aswath damodaran professor nyu stern school of business. Financial modeling damodaran corporate finance institute. Which class by aswath damodaran should we take first.
He is a wellknown professor in the field of finance and focuses on valuation valuation valuation refers to the process of determining the present worth of a company or an asset. He is the author of numerous leading finance books, including the first edition of damodaran on valuation, investment valuation, corporate finance, investment management, investment philosophies, and applied corporate finance, all published by wiley. His research interest lie in valuation and applied corporate finance. Every business, small or large, public or private, us or emerging market, has to make investment, financing and dividend decisions. Damodaran is a professor at nyu stern and teaches a variety of corporate finance classes on topics that include financial modeling and valuation analysis. Before coming to stern, he also lectured in finance at the university of california, berkeley. Sep 19, 2018 aswath damodaran i am a professor of finance at the stern school of business at nyu. Taught by valuation guru aswath damodaran, this program provides the fundamentals of the different valuation approaches, an understanding of the limitations of each approach, and examples of each of the applications. As a result, when defined broadly, every business decision fits under the rubric of corporate finance. In my biased view, corporate finance is the ultimate big picture class. Live online tutoring for professor aswath damodarans. Corporate finance is universal aswath damodaran 15.
Aswath damodaran says valuation is not just a number. It lays out the financial principles that govern how businesses, small or large, public or private, should make choices and decisions. When the stock is traded and markets are viewed to be ef. Aswath damodaran is nationally recognized for his teaching approach, using theory and the models that flow from it to understand, analyze and solve problems. Corporate finance spring 2014 free course by new york. I teach classes in corporate finance and valuation, primarily to mbas. Valuation with aswath damodaran nyu stern executive. Oct 27, 2014 aswath damodaran, distinguished author, professor of finance, and david margolis, teaching fellow at the nyu stern school of business, have delivered the newest edition of applied corporate finance. It actually works well with a quarterlength course, where you want to move at a more leisurely pace. The evolulon of uncertainty stage 2 young growth stage 1 startup. He teaches the corporate finance and valuation courses in the mba program as well as occasional shortterm classes around the world on both topics. Aswath damodaran has published four books on equity valuation damodaran on valuation, investment valuation, the dark side of valuation, the little book of valuation and two on corporate finance corporate finance. The objective in corporate finance new york university. Aswath damodaran, distinguished author, professor of finance, and david margolis, teaching fellow at the nyu stern school of business, have delivered the newest edition of applied corporate finance this readable text provides the practical advice students and practitioners need rather than a sole concentration on debate theory, assumptions, or models.
Aswath damodaran once again proved why he is one of the best professors in finance. My name is aswath damodaran and i teach corporate finance and valuation at the stern school of business at new york university. He is best known as author of several widely used academic and practitioner texts on valuation, corporate finance, and investment management. To be fair, it is true that corporate financial theory has made advances in taking. This is a course of 36 short webcasts about 1220 minutes apiece, designed both to capture what i do in my regular semesterlong corporate finance class and. Aswath damodaran is a professor of finance at the stern school of business at new york university, and teaches the corporate finance and equity valuation. Corporate finance is or should be at the core of business education everywhere and i am not being biased. This readable text provides the practical advice students and practitioners need rather than a sole concentration on debate theory, assumptions, or models. Whether youve loved the book or not, if you give your honest and detailed thoughts then people will find new books that are right for them. In this paper, we consider the various sources of synergy and categorize them into operating and financial synergies. Stock price is easily observable and constantly updated unlike other measures of performance, which may not be as easily observable, and certainly not updated as frequently. Jan 02, 2012 he is the author of numerous leading finance books, including the first edition of damodaran on valuation, investment valuation, corporate finance, investment management, investment philosophies, and applied corporate finance, all published by wiley.
Corporate finance by aswath damodaran archives finance train. See the complete profile on linkedin and discover aswaths. Aswath damodaran is a professor of finance at the stern school of business at new york university kerschner family ch applied corporate finance. Aswath damodaran, distinguished author, professor of finance, and david margolis, teaching fellow at the nyu stern school of business, has delivered the. Corporate finance with aswath damodaran nyu stern executive. Aswath damodaran 4 the objective in decision making in traditional corporate. The book stayed true to its objectives and made applying theories and. I am a teacher first, who also happens to love untangling the puzzles of corporate finance and valuation, and writing about my experiences. Aswath damodaran, distinguished author, professor of finance, and david margolis, teaching fellow at the nyu stern school of business, has delivered the newest edition of applied corporate finance.
Aswath damodaran, distinguished author, professor of finance, and david margolis, educating fellow on the nyu stern school of enterprise, have delivered the newest model of applied corporate finance. Corporate finance is only a few decades old, and people have been running businesses for thousands of years. Course is available on the above website of symynd category. Aswath damodaran i am a professor of finance at the stern school of business at nyu. A philosophical basis for valuation it was oscar wilde who described a cynic as one who knows the price of everything, but the value of nothing. Many acquisitions and some large strategic investments are often justified with the argument that they will create synergy.
Damodaran, aswath, the value of synergy october 30, 2005. See all articles by aswath damodaran aswath damodaran. Consequently, i divide my discussion of corporate finance into five areas. The objective in corporate finance for all of these businesses remains the same. Jul 17, 2018 professor aswath damodaran is currently a professor of finance at nyus stern school of business. This text is intended for the corporate finance course at the mba level, but it can also be appropriate for undergraduates at higher level schools. If you are doing a shorter course, you may prefer this condensed version which i use for an executive corporate finance class of about 6 sessions 3 hours each. Professor aswath damodaran is a professor of finance at the stern school of business at new york university. Professor aswath damodaran is currently a professor of finance at nyus stern school of business. A narrower objective is to maximize stockholder wealth. The book, though, a little less fun than the lectures is an excellent textbook. Damodaran, professor of finance at nyus stern school of business, compares a companys life cycle to the human development stages. He is a wellknown professor in the field of finance and focuses on valuationvaluationvaluation refers to the process of determining the present worth of a company or. The objective in decision making in traditional corporate.
1135 1044 256 39 1175 1303 269 441 707 1248 967 287 412 928 241 1028 390 891 161 1416 839 589 1065 1458 769 1125 792 333 1418 44 956 1079 240 689 1147 221 373 1486 180 77 1109 1359 1203 686 461 523 1203 416