Introducción a la Valoración financiera from Coursera

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Syllabus

MÓDULO 1: El Valor Tiempo del Dinero

Esta semana analizaremos el valor tiempo del dinero. Veremos cómo el valor del dinero cambia en el tiempo. Para esto, discutiremos sobre qué son las Tasas de Interés, su importancia y por qué tienden a ser positivas. Introduciremos también los conceptos Valor Presente (VP) y Valor Futuro (VF). Aprenderemos a calcular estos valores para un flujo de caja único y luego extenderemos el análisis para determinar estos valores para múltiples flujos de caja. Por último, exploraremos los conceptos de Anualidades y Perpetuidades como herramientas para analizar un proyecto de inversión.

MÓDULO 2: Introducción al precio de los bonos

En esta semana analizaremos un nuevo instrumento financiero: los bonos. Para esto, lo primero será profundizar en el método de valorización presentado la semana pasada y familiarizarnos con el concepto Valor Presente Neto (VPN). A su vez, extenderemos lo visto sobre tasas de interés y se introducirá el término Tasa Interna de Retorno (TIR). Usaremos estos nuevos conceptos para aplicarlos al estudio de bonos. Describiremos qué son, cómo funcionan y sus diferentes tipos. Luego, para cada tipo de bono, y usando el método VPN, veremos cómo calcular su precio y revisaremos cómo afecta la TIR y los plazos este resultado.

MÓDULO 3: Introducción al precio de las acciones

En esta semana estudiaremos otro instrumento financiero: las acciones. Para ello, primero aprenderemos qué son las acciones, cómo se diferencian de los bonos y qué beneficios tienen estas para una empresa y para los inversionistas. Luego, dado un conjunto de supuestos que denominaremos mercado perfecto, podremos analizar qué factores determinan el precio de una acción, formulando un modelo de precios y estableciendo criterios para la óptima toma de decisiones. Finalmente, liberaremos algunos supuestos para acercar nuestro modelo a la realidad, considerando el efecto de impuestos, costos de transacción, diferencias de expectativas, entre otros.

MÓDULO 4: Introducción a la valorización de Proyectos y Empresas

En esta semana nos introduciremos en cómo realizar la valoración de proyectos y empresas. Para esto estudiaremos qué son los flujos de caja, cómo se componen, cómo descontarlos y distintos aspectos que se deben tener en cuenta al trabajar con ellos. También, veremos los métodos tradicionales para la valorización de proyectos y empresas, como lo son el método del Valor Presente Neto, así como el nuevo paradigma de las Opciones Reales, método este último particularmente útil para valorizar proyectos flexibles. Por último, haremos énfasis en elementos importantes como la volatilidad, las flexibilidades e imperfecciones que se pueden dar dentro de los proyectos o empresas que estemos analizando.

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Desarrolla habilidades en valoración de activos, un área en demanda en finanzas

Presenta los conceptos principales de valoración de activos financieros y reales de manera estructurada

Impartido por Gonzalo Cortazar, un experto reconocido en valoración de activos

Requiere conocimientos previos en finanzas y matemáticas, lo que puede limitar la accesibilidad para principiantes

Se enfoca principalmente en enfoques tradicionales de valoración, sin cubrir métodos más avanzados

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Introducción a la Valoración financiera with these activities:

Revisa los conceptos básicos de matemáticas financieras

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Refresca tu memoria sobre conceptos matemáticos financieros esenciales para reforzar tu comprensión del curso.

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Revisa los conceptos de valor presente y futuro
Repasa las fórmulas de anualidades y perpetuidades

Asiste a un taller sobre proyectos de inversión

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Amplía tu conocimiento sobre la valoración de proyectos de inversión asistiendo a un taller dirigido por expertos de la industria.

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Resolver ejercicios de valor tiempo del dinero

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Fortalece tu comprensión del valor tiempo del dinero, resolviendo ejercicios de práctica similares a los del curso.

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Identifica los flujos de caja relevantes y su cronograma
Determina la tasa de interés aplicable
Calcula el valor presente o futuro utilizando la fórmula apropiada

Four other activities

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Valorar un bono

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Pon en práctica tus conocimientos de valoración de bonos ejecutando un proyecto para determinar el precio de un bono específico.

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Recopila información sobre las características del bono (valor nominal, cupón, plazo)
Determina la tasa de rendimiento requerida
Calcula el valor presente de los flujos de caja del bono
Compara el valor presente con el valor nominal para determinar el precio del bono

Sigue tutoriales sobre opciones reales

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Profundiza tu comprensión de las opciones reales, una herramienta avanzada para valorar proyectos de inversión, siguiendo tutoriales en línea.

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Valorar una empresa utilizando el método de flujo de caja descontado

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Aplica los conceptos de valoración de empresas creando un informe que utilice el método de flujo de caja descontado para determinar el valor de una empresa específica.

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Recopila estados financieros históricos y pronósticos
Establece supuestos sobre los flujos de caja futuros
Determina una tasa de descuento apropiada
Calcula el valor presente de los flujos de caja
Redacta un informe presentando tus hallazgos y recomendaciones

Elaborar una hoja de cálculo de valoración de acciones

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Mejora tu comprensión del modelo de valoración de acciones construyendo una hoja de cálculo que automatice los cálculos.

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Diseña la estructura de la hoja de cálculo con fórmulas y funciones relevantes
Ingresa datos financieros y supuestos sobre la empresa
Construye el modelo de valoración de acciones utilizando el método de descuento de dividendos
Interpreta los resultados y realiza un análisis de sensibilidad

Career center

Learners who complete Introducción a la Valoración financiera will develop knowledge and skills that may be useful to these careers:

Financial Analyst

Financial Analysts use various methods to evaluate the performance of businesses and make recommendations about how to improve their financial health. This course provides a strong foundation in the principles of financial valuation. The concepts and techniques covered in this course, such as the time value of money and discounted cash flow analysis, are essential for understanding how financial analysts evaluate the worth of companies and make sound investment decisions.

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Investment Banker

Investment Bankers help companies raise capital through the issuance of debt or equity securities. A strong understanding of financial valuation is critical for Investment Bankers, as they need to be able to assess the value of companies in order to structure and price these securities. The concepts and techniques covered in this course, such as the discounted cash flow model and the comparable company analysis, are essential for Investment Bankers to perform their jobs effectively.

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Portfolio Manager

Portfolio Managers oversee the investment portfolios of individuals and institutions. This course provides a strong foundation in the principles of financial valuation. The concepts and techniques covered in this course, such as the asset allocation process and the risk-return trade-off, are essential for Portfolio Managers to make sound investment decisions.

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Financial Planner

Financial Planners help individuals and families plan for their financial futures. A strong understanding of financial valuation is critical for Financial Planners, as they need to be able to assess the value of investments and make recommendations about how to allocate assets. The concepts and techniques covered in this course, such as the time value of money and the risk-return trade-off, are essential for Financial Planners to perform their jobs effectively.

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Actuary

Actuaries evaluate the financial risks associated with future events, such as death, disability, and retirement. A strong understanding of financial valuation is critical for Actuaries, as they need to be able to assess the present value of future cash flows. The concepts and techniques covered in this course, such as the time value of money and the life table, are essential for Actuaries to perform their jobs effectively.

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Real Estate Appraiser

Real Estate Appraisers estimate the value of real property. A strong understanding of financial valuation is critical for Real Estate Appraisers, as they need to be able to assess the value of real property using a variety of methods. The concepts and techniques covered in this course, such as the sales comparison approach and the income capitalization approach, are essential for Real Estate Appraisers to perform their jobs effectively.

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Business Valuator

Business Valuators assess the value of businesses for a variety of purposes, such as mergers and acquisitions, estate planning, and litigation. A strong understanding of financial valuation is critical for Business Valuators, as they need to be able to assess the value of businesses using a variety of methods. The concepts and techniques covered in this course, such as the discounted cash flow model and the comparable company analysis, are essential for Business Valuators to perform their jobs effectively.

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Auditor

Auditors examine the financial statements of companies to ensure that they are accurate and fair. A strong understanding of financial valuation is critical for Auditors, as they need to be able to assess the value of assets and liabilities. The concepts and techniques covered in this course, such as the time value of money and the present value of future cash flows, are essential for Auditors to perform their jobs effectively.

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Credit Analyst

Credit Analysts assess the creditworthiness of borrowers and make recommendations about whether or not to lend them money. A strong understanding of financial valuation is critical for Credit Analysts, as they need to be able to assess the ability of borrowers to repay their debts. The concepts and techniques covered in this course, such as the debt-to-equity ratio and the interest coverage ratio, are essential for Credit Analysts to perform their jobs effectively.

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Risk Manager

Risk Managers identify and assess the risks that companies face and develop strategies to mitigate them. A strong understanding of financial valuation is critical for Risk Managers, as they need to be able to assess the financial impact of risks. The concepts and techniques covered in this course, such as the value at risk model and the scenario analysis, are essential for Risk Managers to perform their jobs effectively.

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Consultant

Consultants provide advice to businesses on a variety of topics, including financial valuation. A strong understanding of financial valuation is critical for Consultants, as they need to be able to assess the value of companies and make recommendations about how to improve their financial performance. The concepts and techniques covered in this course, such as the discounted cash flow model and the comparable company analysis, are essential for Consultants to perform their jobs effectively.

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Teacher

Teachers educate students about a variety of subjects, including financial valuation. A strong understanding of financial valuation is critical for Teachers, as they need to be able to explain the concepts and techniques of financial valuation to their students. The concepts and techniques covered in this course, such as the time value of money and the discounted cash flow model, are essential for Teachers to perform their jobs effectively.

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Researcher

Researchers conduct research on a variety of topics, including financial valuation. A strong understanding of financial valuation is critical for Researchers, as they need to be able to design and conduct research studies and analyze the results. The concepts and techniques covered in this course, such as the regression analysis and the Monte Carlo simulation, are essential for Researchers to perform their jobs effectively.

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Entrepreneur

Entrepreneurs start and operate their own businesses. A strong understanding of financial valuation is critical for Entrepreneurs, as they need to be able to assess the viability of business ideas and make sound financial decisions. The concepts and techniques covered in this course, such as the breakeven analysis and the net present value, are essential for Entrepreneurs to perform their jobs effectively.

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Financial Advisor

Financial Advisors provide financial advice to individuals and families. A strong understanding of financial valuation is critical for Financial Advisors, as they need to be able to assess the value of investments and make recommendations about how to allocate assets. The concepts and techniques covered in this course, such as the asset allocation process and the risk-return trade-off, are essential for Financial Advisors to perform their jobs effectively.

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