The Advanced Valuation Program
New Program with Global Campus Options
An advanced valuation program that provides participants with the analytical framework to evaluate and engage in strategic investments across both public and private markets.
Key Learning Objectives
- Gain a deep understanding of critical valuation concepts and how they can be applied in different market settings and to different types of entities.
- Explore implications of different types of financing and their implications for value.
- Obtain key practical insights from investment bankers and other experienced professionals based on case discussions and more informal networking opportunities.
- Discuss relevant ESG considerations including current regulatory and legal issues.
- Explore regional challenges and opportunities with Chicago Booth alumni who are integrated into the program design. Specific regions are dependent on program location of choice, such as an EMEA focus in the London offering, Asia focus in Hong Kong offering, and an Americas focus in Chicago offering.
Why Chicago Booth?
One unquestioned strength of Chicago Booth is our world-renowned faculty. A diverse group of more than 200 preeminent business scholars, our faculty have been shaping education since we opened our doors in 1898. Ten Booth scholars—four of whom are currently teaching—have won the Nobel Prize in Economic Sciences.
Chicago Booth faculty collaborate and consult with firms, serve on corporate boards, start their own companies, and are sought out for their award-winning research and renowned analyses. World leaders, media outlets, and top global companies regularly turn to our faculty members for their expertise and insights. When you attend our executive education programs, you’ll learn from the same professors who teach inour MBA program, as well as industry leaders—receiving a distinctive mix of theory and real-world applications you can enact immediately.
Our Global Locations
We are the first and only US business school with permanent campuses on three continents—Chicago, London, and Hong Kong. This program includes an offering at each of our global campuses.
Prerequisites
Participants should bring an educational or professional experience equivalent to the content of an MBA or graduate-level corporate finance course such as our Executive Finance Program (previously titled "Finance for Executives") or Mergers & Acquisitions, so that participants come to this program with familiarity of present value/NPV, WACC, optimal capital structure, and other related concepts.
Who Should Attend
- Investment professionals working for pension funds, endowments, etc.
- Professionals working for national governments looking to monetize or finance infrastructure projects.
- Owners of start-ups or family businesses looking to negotiate an exit with an investor or bank or otherwise raise capital.
- Sell-side analysts and other capital market participants who need to better understand valuation.
- Lawyers who advise clients and engage in litigation and need to understand salient economic characteristics of corporate transactions including assessment of potential damages.
- CFOs and other financial executives who engage in deals related to private and public entities.
- Bankers interested in a deeper understanding of clients and financing.
- Management and litigation consultants; other professional advisers who advise clients as to deals and valuation
Recommended Profile:
- 5+ years of experience in corporate, government, legal, investment management, or finance setting.
- Intermediate-level understanding of corporate finance principles (EFP program or equivalent – need to understand NPV, discount rates, cost of capital, etc.).
- Those who engage in or need to understand and evaluate sophisticated corporate transactions that involve valuation either directly (through potential transactions) or indirectly (in financing).
Douglas Skinner
Skinner joined the Booth faculty in 2005. He has served as Deputy Dean for Faculty since 2015 and served as Interim Dean in 2016-17. He was responsible for the construction and financing of the University’s Hong Kong campus, the home of Booth’s EMBA program in Asia, completed in 2018. Prior to joining Chicago Booth, Skinner served on the faculty of the Ross School of Business, University of Michigan.
Skinner is an independent trustee and chairs the audit committee for Harbor Funds and ETF Trust, a mutual fund and ETF complex that offers a variety of actively-managed mutual fund and ETF products. From time to time he serves as an expert financial economist in litigation involving complex accounting, anti-trust, securities, and tax matters.
Skinner holds a bachelor’s degree in Economics with first class honors in Accounting and Finance from Macquarie University in Sydney and a master’s degree and PhD in Applied Economics from the University of Rochester.
Skinner’s research addresses a variety of topics in financial accounting, auditing, and corporate finance, focusing on the capital markets/valuation effects of firms’ financial policies. His research is published in leading academic journals including the Journal of Accounting and Economics, the Journal of Accounting Research, The Accounting Review, the Journal of Finance, and the Journal of Financial Economics.
Skinner previously served as editor of the Journal of Accounting Research and the Journal of Accounting and Economics, both top tier academic accounting journals.
Skinner has extensive experience teaching in Booth’s MBA, EMBA, Executive Education, and PhD programs. He currently teaches Managerial Accounting in Booth’s EMBA program and Empirical Research Methods in Booth’s PhD program. He has previously taught Corporate Finance and Valuation, Financial Accounting, and Financial Statement Analysis. He has advised PhD students who have taken faculty positions at Cornell, Harvard, Michigan, MIT, Wharton, Stanford, London Business School, among other top schools around the world.
Program Outline
Fundamental Valuation Framework and Tools
- Discounted cash flow (DCF) models
- Multiples/Comparables valuation approaches
- Discount rates
Critical Valuation Inputs
- Unlocking the mysteries of financial statements for valuation and forecasting
- How to determine the right discount rate
- Earnings or cash flows? (and why it matters)
- Assessing earnings quality
Applications in a Variety of Applied Settings, such as...
- Private Markets, Private Equity, LBOs, etc,
- High-Growth Entities;
- Infrastructure;
- Distressed Debt;
- Alternatives
Content will be taught by a mix of Booth faculty and senior executives, often Booth alumni, who will lead case discussions and networking sessions. Program outline is subject to change.
Participants should bring an educational or professional experience equivalent to the content of an MBA or completed graduate-level corporate finance course such as Chicago Booth’s Executive Finance Program, Mergers and Acquisitions, or our previous Finance for Executives, with familiarity with present value, NPV, WACC, optimal capital structure, and other related concepts.
To apply for the program, candidates must submit:
1. A completed application.
2. A resume or CV.
3. A few sentences why are interested in taking this program.
Choose your Campus:
- March 2024 program will take place at our London campus
The Rothman Campus: One Bartholomew Close Barts Square, London EC1A 7BL, UK
- July 2024 program will take place at our Chicago campus
Gleacher Center, 450 North Cityfront Plaza Drive, Chicago, IL 60611-4316
- November 2024 program will take place at our Hong Kong campus
The Hong Kong Jockey Club University of Chicago Academic Complex | The University of Chicago Francis and Rose Yuen Campus in Hong Kong: 68 Victoria Road, Mount Davis Hong Kong
Program faculty, practitioners, and guest speakers are subject to change at the various locations.
*Contact us to learn more about our special pricing for group enrollment or ways we can work with you to support your organization's education budgets.