Introduction to valuation -- Approaches to valuation -- Understanding financial statements -- Basics of risk -- Option pricing theory and models -- Market efficiency- definition, tests, and evidence -- Riskless rates and risk premiums -- Estimating risk parameters and costs of financing -- Measuring earnings -- From earnings to cash flows -- Estimating growth -- Closure in valuation: estimating terminal vaue -- Dividend discount models -- Free cash flow to equity discount models -- Firm valuation: cost of capital and adjusted present value approaches -- Estimating equity value per share -- Fundamental principles of relative valuation -- Earnings multiples -- Book value multiples -- Revenue multiples and sector-specific multiples -- Valuing fnancial service firms -- Valuing firms with negatve or abnormal earnings -- Valuing young or start-up-firms -- Valuing private firms -- Aquisitions and takeovers -- Valuing real estate -- Valuing other assets -- Option to delay and valuation implications -- Options to expand and to abandon: valuation implications -- Valuing equity in distressed firms -- Value enhancement: a discounted cash flow valuation framework -- Value enhancement: economic value added, cash flow return on investment, and other tools -- Probablistic approaches in valuation: scenario analysis, decision trees, and simulations -- Overview and conclusion