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This subject examines the unique institutional, governance and transparency issues affecting corporate valuations in emerging markets. Through lectures, case discussions and the students' real-time analysis of an emerging market firm, this condensed course is structured for students to gain a deeper understanding of the economic pressures behind the value creation, value destruction and valuation process in emerging economies. The course focuses on critically interpreting financial and non-financial information for purposes of assessing firm fundamentals and corporate governance risk in the presence of weak legal systems, strong political forces, limited investor protections, limited market development, strong macro-economic forces, opacity and resultant business arrangements.
Intended learning outcomes
On successful completion of this subject, students should be able to:
- Describe contemporary governance and reporting issues affecting emerging markets
- Understand and apply valuation techniques to the valuation of firms in emerging economies
- Identify and critically evaluate financial and non-financial information in emerging economies
On successful completion of this subject, students should have improved the following generic skills:
- Oral communication and presentation skills;
- Synthesis of information;
- Problem identification and analysis;
- Critical thinking;
- Accessing information and evidence from a range of sources.
Last updated: 16 March 2020