Магистратура
2025/2026
Стратегическое управление стоимостью компании
Статус:
Курс по выбору (Стратегическое управление финансами фирмы)
Кто читает:
Школа финансов
Где читается:
Факультет экономических наук
Когда читается:
2-й курс, 1 модуль
Онлайн-часы:
20
Охват аудитории:
для всех кампусов НИУ ВШЭ
Язык:
английский
Кредиты:
3
Контактные часы:
28
Course Syllabus
Abstract
This course develops new conceptual frameworks for stakeholder value creation and their application to corporate resilience analysis. It introduces practical instruments to classify companies based on value creation criteria, identify the drivers behind different value creation patterns, and apply analytical tools to assess corporate growth strategies and their value impact in real-world situations. Key topics include analyzing the firm-level versus industry contribution to value creation, and examining the role of corporate horizon in value generation. The course explores the quality of corporate growth and how different types of corporate strategies lead to value creation versus destruction. It also covers stakeholder value-based analysis and adjustments needed in operating performance analytics and budgeting processes to implement value planning within organizations. Course assignments consist of a multi-stage project based on data from preselected company samples in BRICS countries. These assignments are completed in small teams and presented during seminars. Instead of a formal exam, students are expected to submit and defend a final team-based project titled "Strategies for Corporate Value Management and Resilience." The best team projects will be further developed into cases for inclusion in the School of Finance's Digital Case Collection focused on Greater BRICS economies.
Learning Objectives
- To provide students with a modern applied framework for corporate value creation analysis.
- To discuss applied concepts of value-based approaches to operating performance, including their advantages and drawbacks.
- To analyze corporate classifications based on value creation criteria and examine the role of corporate horizons in value strategies.
- To develop analytical skills for value planning and for understanding the interaction between corporate strategy types and value creation.
Expected Learning Outcomes
- The patterns of economic profit creation
- The types of growth. How to measure sustainable value creating strategies.
- Economic profit and the types of corporate strategies.
- Relationship between motivation structure and KPI
- The drivers of fade
- The role of modified economic profit in financial control
- Analyze and compare the drivers behind different patterns of value creation in similar industries in BRICS.
- Develop metrics of value creation for stakeholders adjusted to critical key resources and business models of preselected companies in BRICS.
- Apply value creation metrics for stakeholders adjusted to critical key resources to the companies with similar business models and provide conclusions and recommendations.
- Explain the drives and methods to adjust financial design of a company to introduce value creation metrics and planning for value for different types of internal divisions.
- Compare and contrast the applications to the remuneration policies based on economic profit.
- Explain the relationship between value creation, value capture and corporate resilience on the preselected sample of companies from BRICS.
Course Contents
- Topic 1. Corporate Classes and Corporate Resilience
- Topic 2. Planning for Value Creation: Growth Analysis (video)
- Topic 3. Planning for value creation: Strategic choices (video)
- Topic 4. Planning for Value Creation: Remuneration Policies (Video)
- Topic 5. Value-Based Analysis of Operating Performance: Part 1 (Video)
- Topic 6. Value-Based Analysis of Operating Performance: Part 2 (Video)
Bibliography
Recommended Core Bibliography
- Aswath Damodaran. (2016). Damodaran on Valuation : Security Analysis for Investment and Corporate Finance. Wiley.
- Hitchner, J. R. (2017). Financial Valuation : Applications and Models (Vol. Fourth edition with website). Hoboken, New Jersey: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1506670
- Valuation. Measuring and managing the value of companies, Koller T., Goedhart M., 2010
Recommended Additional Bibliography
- Моделирование стоимости компании : стратег. ответственность советов директоров, Ивашковская, И. В., 2011