Financial Valuation Financial Valuation
Program overview
The Certificate in Financial Valuation The Certificate in Financial Valuation is designed for executives, high performers, and finance professionals who aim to acquire in-depth knowledge and practical skills in key areas of finance related to corporate valuation. The program focuses on cutting-edge tools and techniques to value corporate projects as well as various types of companies by analyzing both their business risk and the financial risk. It provides a thorough understanding of the risk and return of financial instruments, financial statement analysis, corporate financial policy, the cost of capital, and other topics related to financial valuation. The certificate relies on world-class teaching by outstanding HEC Paris faculty, including renowned researchers with executive-education experience and high-level investment bankers and consultants.
The program is comprised of a 10-day module with regular courses, and the completion of a 2-day certificate project either in person or remotely. The certificate project gives participants the opportunity to apply the valuation tools learned during the module on a challenging individual project. The project is done under the supervision of an experienced, world-class HEC faculty tutor.
Executive certificate in Financial Valuation
Participant profile and prerequisites
The program is aimed at:
The program is intended for finance directors in all sectors, current and aspiring corporate executives, bankers and financial services experts, and other experienced professionals: managers who wish to move to a more senior role (CEO, CFO, CIO, COO), executive board members, senior leaders, or private equity/venture capital/startup/family office founders.
* Net price, HEC Paris is not subject to VAT. Prices, dates, faculty, and program content are subject to change.
Objectives
Acquire in-depth qualitative understanding of financial economics concepts and principles related to valuation.
Enhance quantitative skills through hands-on problem solving.
Gain intuition for advanced finance concepts, topics, tools, and trends related to valuation.
Value a project, company, or conglomerate.
Improve business strategies related to valuation.
Develop global perspectives and boost networking opportunities.
Apply concepts and methods learned during the program to your professional environment.
Academic Director(s)
Learning methods & Evaluations
Learning methods:
Most courses in the CeFV are delivered by alternating between lectures, case studies, exercises, simulations, applications, group work, and in-class presentations. Most courses require preparation before class: reading case studies or articles, answering preparatory questions, or solving a pre-class assignment. In the certificate project part, each participant chooses a tutor (supervisor) from the HEC Paris faculty to work on a certificate project. The project gives participants the opportunity to specialize in a particular area of financial valuation by applying what they have learned during the certificate on an original individual project. In this process they capitalize on the input and guidance of faculty and field experts from the world of finance who act as tutors.
Evaluations:
Participants are evaluated along multiple dimensions: group work write-ups or presentations on projects or case studies, quizzes, in-class or take-home exercises, quizzes, multiple-choice questionnaires, final exams, post-class analyses, and class participation. The weights instructors choose among all these dimensions vary with each class.
Program
Financial assets and markets, stocks and bonds, Time Value of Money, Net Present Value, yield curve, opportunity cost of capital, terminal value, Internal Rate of Return, Payback Period.
Holding period return, expected return, return variance/volatility, portfolio risk and return, Capital Asset Pricing Model (CAPM), other asset pricing models.
Forwards and futures contracts, call options and put options, exotic options, option strategies, implied volatility, hedging price risk.
Financial statements, ratio analysis, profitability analysis, credit risk analysis, revenue and asset recognition, interpreting financial statements, accounting fraud.
Financial forecasting and dynamics, sustainable growth rate, capital structure, cash reserves, payout policy, dividends and share repurchases.
Weighted Average Cost of Capital (WACC), unlevered beta, consumption and investment decisions, capital structure, Adjusted Present Value (APV), Modigliani-Miller theory.
Free Cash Flows (FCF), Equivalent Annual Annuity method, pro-forma forecasting, Flow to Equity (FTE) valuation, Capital to Cash Flows (CCF) valuation, risk-neutral valuation, real options, project finance.
Capitalization 
This Executive Certificate Financial Valuation is eligible for capitalization towards the Executive MSc in Finance
Are you interested ?
Do you feel that this program could be made for you?
In order to get feedback from our admissions teams regarding your suitability for the program, please do not hesitate to fill in our short online form below.
This program is accessible for people with disabilities. Please contact us if you have any specific requirements or to obtain the Public Accessibility Register.
Contact
Funding options
Find out more about possible funding options for the program you have chosen.
Download the brochure
Fields preceded by an * are mandatory. Failure to fill out the correct fields will delay your brochure request. By completing this form, you are giving consent to HEC Paris to collect your data in order to process your request for documentation, offer you its training programs and ensure their follow-up. You have a right to access, modify, oppose, delete, limit, transfer, and to inform us how you wish your personal data to be processed, in the event of your death, by contacting exed@hec.fr. Find out more about the management of your personal data and your rights