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Advanced Valuation and Strategy - M&A, Private Equity, and Venture Capital に戻る

エラスムス・ロッテルダム大学(Erasmus University Rotterdam) による Advanced Valuation and Strategy - M&A, Private Equity, and Venture Capital の受講者のレビューおよびフィードバック



Hi and welcome to this course! Would you like to learn about the latest valuation methods that may help you to make better business decisions? Then 'Advanced Valuation and Strategy – M&A, Private Equity, and Venture Capital' by Erasmus University Rotterdam is the right course for you! This course is helpful for executives that need to value complete strategies and for all students interested in corporate finance and strategy. We present the latest tools and show you how to apply them! We will revolutionize your way of decision making, by extending static techniques from corporate finance with dynamic methods to quantify strategic thinking. Traditionally, we assess the attractiveness of an investment as a mature business, where future cash flows mainly result from past decisions. But, in an ever-changing world, strategic decisions determine the firm’s long-term success and market value. Yet managers often have to consider these long-term implications using intuition and experience alone, with little guidance from structured, quantitative analysis. Our treatment goes far beyond the use of standard valuation analysis. We introduce the expanded NPV, which brings together DCF, real options, and game theory. Thinking in terms of options, games, and adaptive strategies may help managers address strategic questions such as: How do you value a leveraged buyout? How can you value a high-tech venture with negative cash flows? When should you invest in new ventures in stages? How can you incorporate rival bidders in the analysis? The tools we provide can improve your decisions in business and in daily life. * Who is this class for? We hope that our course appeals to (graduate) students in finance, economics, and business, as well as to high-ranking professionals and a general audience. This course is particularly interesting for venture capitalists, private equity investors, investment bankers, CEOs, CFOs, and those who aspire these affiliations. We offer this MOOC at 3 levels: 1.Executive Summary: This 1-week module provides critical insights into the principles of corporate valuation and strategy. This is accessible for time-constrained executives and the general audience without any prior knowledge. 2. Student Level: This level involves an understanding of the technical details. This level requires basic knowledge of concepts in corporate finance, e.g., the time value of money, financial statement analysis, capital structure, and the relation between risk and returns. Learners of this level can skip week 1. 3. Honors Level (honors certificate): This level is challenging, engaging, and compelling to an intellectually rigorous student....



May 19, 2020

Boosts your up-to-date understanding of how strategy and valuation come together. It helped me better understand my PE clients' buy & build strategies from a growth option valuation perspective.


Feb 28, 2020

Demanding at times but overall one of the better courses that make you think before you have to answer. I also enjoyed the ability to do some extra work if you are into honorable certificate.


Advanced Valuation and Strategy - M&A, Private Equity, and Venture Capital: 151 - 175 / 192 レビュー

by Eckhart V

Oct 18, 2019


by Amarendra P S

May 18, 2020


by Fábio M V S

May 07, 2020

This course has amazing value for its price.

Professor Hans Smit managed to pack a lot of content into only about 3 hours of videos.

You will still have to supplement the videos with reading and/or online research. In this regard, I suggest reading Chapters 1, 2 and 3; plus, the first parts of Chapters 4 and 5 of the Professor’s “Strategic Investment: Real Options and Games” for a more complete grasp of the theory and concepts discussed in the videos. For more practical examples, I suggest resorting to recent editions of “Principles of Corporate Finance” by Brealey et al. Brealey is especially relevant for those that, like me, never priced options in college or in a professional setting. I have not touched Game Theory in 10 years, but the Professor’s explanations, plus the practice exercises (and some parts of Robert Gibbons’ “Game Theory for Applied Economists”) were enough. Google will also yield decent tutorials.

The course is scheduled for completion in 5 weeks – but I managed to conclude the course in 2 weeks (I skipped the honor assignments), by studying at nights and during my weekends.

The quizzes can be infuriating, because of the rounding criteria – you will get all the exercises right, but the application will rate you with a lesser score, because your rounding is different from the rounding of the instructor. This is especially true in the NPV and ROV quizzes.

The first quiz is incredibly stressful and should not be used as a prelude to the rest of the course. The course is rigorous; but because of the videos, and if you “do your work” (as the Professor says in one of the videos), you will successfully understand the content and how to apply it. So, if the first quiz seems intimidating – do not worry.

In summary – if you love valuation, you will greatly enjoy (and benefit from) this course. The only problems are the first quiz and the rounding problems in the following quizzes.

by Tania C B

May 04, 2020

The course materials were very good and the course was very well structured. The content was very relevant and well shared, with multiple videos, relevant additional readings and practice exercises. This is a course I will for sure recommend.

There was, however, a discrepancy between material delivered and exam questions, i.e. learning material was not sufficient to answer many questions in the final quizzes. I found myself researching a lot and reading further to be able to answer quizzes. While this is great on the one hand, as one learns more and develops, on the other hand I am not sure this is exactly what should happen in this online setting.

It was surprising to see that the honors assignments were a lot easier than the regular assignments.

by Teshinee T

Aug 20, 2020

The course was interesting and enjoyable. The DCF section was relevant and the excel exercise was helpful for someone building a DCF. The Real Options and Game Theory sections felt more theoretical, and would have been helpful to see more real-life applications of these concepts, but were still interesting nonetheless. The professor gave clear explanations though would have been helpful to have slides on the content (as opposed to reading the transcript / subtitles and pausing the videos to take notes).

by Vibhor S

Jun 20, 2020

The course introduces the amalgamation of basic game theory concepts and real options to provide an alternative framework for evaluating strategic investment decisions in uncertain and high stake situations. It is an excellent basic course to get started with understanding this framework. While mastering this framework for practical application would ideally require a lot more effort and resources, this is a good first course to get started.

by Nicolas C R

Sep 25, 2020

It is a great course to grasp the underlying idea of how to do advanced valuation of investments. Given its short length, it is great. I would have loved to see more underlying explanations as I know the concepts here are provided in a very simplified fashion, with underlying assumptions, math and statistics are significantly more complex to dominate and hence apply in real situations. Great course whatsoever, it will not disappoint you!

by Himanshu V

Apr 10, 2020

I felt that while this course is overall very helpful and well structured, it assumes pre-acquired knowledge about some things on part of the student. For example, in a quiz, there was a question about the winner's curse while this topic wasn't covered in any of the lectures. I could do well cause I have studied Strategic Management under my MBA curriculum. Overall, there's been a steep learning curve for me through this course.

by Akos E

May 24, 2020

Course is one of the most professionally but together ones I've participated in. Occasionally it is a bit superficial, but it is a very good refresher for certain concepts and it does teach you a few things you wouldn't expect.

Sometimes you have to look for answers as you feel like the things asked in quizes aren't mentioned in the course, but overall I am satisfied with it. I would've regretted not completing this course.

by Paul D

Aug 21, 2020

Loved the depth of the course, great explanation videos and sometimes challenging exercises which required some thinking!

Main point of feedback is that I would have preferred to spend some more time on understanding some of the formula. Usually a fundamental understanding helps me in applications and understanding its limitations as well.

by Giancarlo M

May 10, 2020

Great content. I would suggest providing the slides with the information in the animations. It's very important for following class and further reference. Also, additional reference material would be helpful, as some questions on the test are not covered in the videos.

by Raghavendra G

May 01, 2020

Good course with great insights into valuation, game theory, and corporate strategy. Certain explanations were lacking at some points, which had to be looked up online. However, they were included in the certificate tests.

by Priyaranjan P

Jul 08, 2020

The course was of very high quality and the reaching by Professor Smit was excellent. Only thing, few of the explanations could have been more elaborate which might have helped me a lot (being from non-finance background)

by Varun c

May 29, 2020

More nuances with respect to in-depth calculations of certain metrics used ( beta values , factor values of u and d ) for example should be explained more explicitly with course work to compliment it .

by Vaishali C

May 30, 2020

If the screen had subtitles, it would have helped a lot. The course was compact but relevant. Some more and detailed explanation would have helped in better understanding of key concepts.

by Andrew W

May 15, 2020

Really enjoyed the course! Technical, and testing it pushed my to properly understand the videos and readings, and for me to further my understanding in certain areas.

by Shivin S

Jul 21, 2020

The course was quite good and unique and also very helpful for looking at things from a wider perspective. Helped me in understanding valuation and options concepts.


Sep 10, 2020

It's a course that teaches you a lot, but you need previous knowledge in valuation, option and game theory. The course basically tells you how to combine them

by Rohit M

Jun 16, 2020

Good course but for a beginner, it's hard to understand the real options theory concept and game theory. More videos to be added to make it beginner-friendly.

by Álvaro R R

Apr 15, 2020

Very useful the first half of the course, as it is very practical.

It is maybe too theoretical the second half of the course.

Overall, 100% recommended.

by Sandra Q

Oct 06, 2018

A course that goes beyond the standard finance courses in explaining what practices are used in valuations of different types of companies/industries.

by Camilo E S C

May 24, 2020

Such an excellent course! only aspect I would change is that the quizzes that require calculation must have an excel sheet

by Jatin N

Dec 07, 2019

Very interesting and challenging. But the value additions point of view, it is highly recommended.

by Piet J G

Apr 26, 2020

Maybe reconsider the rounding mechanism in the quizzes. All in all great content, learned a lot.