Value Creation and Measument


This is an applied course is devoted to corporate value and value creation. It makes use of the of modern corporate finance theory with a strong emphasis on its use in a value creating context. Participants are expected to understand the sources of corporate value, to identify issues in value destruction on their organizations and how to improve value creation in business units.

General characterization





Responsible teacher

Paulo Soares de Pinho


Weekly - Available soon

Total - Available soon

Teaching language

Portuguese | English


Available soon


Reference Textbook:
Koller, Richard, Dobbs, Value: The Four Cornerstones of Corporate Finance, McKinsey & Co, Wiley 2011.

Teaching method

This is an applied course and thus relies extensively on class discussion of case studies, and therefore requires preparation in advance of each class. Case discussions will be supplemented with lectures, simulations, guest speakers and class exercises.

Evaluation method

The assessment of this curricular unit is done together with the block of curricular units of the same area of knowledge. This assessment has 3 moments, which together define the final grade of the curricular unit:
• Individual exam with a weighting of 50% of the total mark
• Group work with a weighting of 35% of the total grade value
• Individual reflection-action exercise carried out at the end of the curricular unit, with a weighting of 15% of the total grade value. The set of individual action-reflection exercises is a journaling activity, which will constitute, at the end, a learning portfolio capable of synthesising the contributions of the Executive Master for that student.

Subject matter

The course will be structured around the following topics.
• The value of the firm
• New working capital requirements; Capital employed; ROCE
• Value, growth and the cost of capital
• The four cornerstones of corporate finance
• Measuring value creation
• Capital structure and its impact on the value of the firm and its cost of capital
• Economic Value Added
• Financing decisions and the value of the firm
• Strategic resources and market structure as sources of corporate value
• Corporate valuation, value and prices
• Creating value through restructuring


Programs where the course is taught: