20 апреля 2007 г.

CFA Association (Russia) held its first webcast event on April 20, 2007 at 9:00am, in the Moscow office of the International Finance Corporation.

A webcast is an online video presentation supported by hardcopy slides. This time, the topic of the event was:

“Debt and Value: Beyond Miller-Modigliani—Part I”, by Aswath Damodaran, professor of finance and David Margolis Teaching Fellow at the Leonard N. Stern School of Business at New York University

The lecture will ran for over 60 minutes and covered the following areas:

1. The range of valuation approaches available, common elements among the models, and a framework for choosing the right model for any valuation scenario.

2. Applying different valuation models to real-world examples that capture each model’s inherent advantages and disadvantages.

3. The valuation approaches of a variety of U.S. and non-U.S. companies.

4. Leveraged buyout models and how to think about leverage when applying valuation models.

5. Loose ends: liquidity, control, synergy, transparency, and distress.

6. The need for a more expansive analysis of risk in valuation and a broader definition of risk management.

After the lecture, over 30 participants had a brief coffee session, where notes and thoughts were exchanged. It was a good opportunity to refresh everyone's equity valuation knowledge in one brief session.

To be considered for participation at future events of the CFA Society (Russia), please contact Kristina Zaitseva at kzaitseva@cfarussia.ru.