This conference (webinar on December 16, 2020 at 5:00 p.m. for about 1h30) will focus on the practices of determining the cost of capital (used to estimate the discount rate of the DCF method in particular). Indeed, the analysis of the practices shows that there are differences in the assessment of a discount rate depending on the context of the financial valuation of the shares (impairment test vs. capital transactions).
In order to illustrate the practices, we have examined market transactions in France (from January to October 2020) by comparing the cost of capital used for impairment testing of assets vs. the cost of market transactions for companies that are the subject of public offers (takeover bids, public tender offers, etc.). An example of a challenge to the discount rate by minority shareholders will also be presented. The observations are also applicable to unlisted companies.
Prerequisite: basic knowledge of the DCF method.
The support of the webinar will be communicated to the participants at the end of the live session. A replay will be available for participants.
Information and registration on the Afival Academy website.
This webinar is available at no extra cost to participants of our Business Evaluation Excellence Program or to members of our premium subscription (see your personal space).
This webinar is also available to students enrolled in our other courses on AFIVAL ACADEMY upon request (send us an email or via our live chat to request a personal free coupon).