EACVA's Business Valuation Conference 2019

EACVA's Business Valuation Conference 2019

December 5–6, 2019 – Save the date!

EACVA's Business Valuation Conference 2019

EACVA's Business Valuation Conference 2019

December 5–6, 2019 – Save the date!

EACVA's Business Valuation Conference 2019

EACVA's Business Valuation Conference 2019

December 5–6, 2019 – Save the date!

Prof. Dr. Bernhard Schwetzler

Session F-21 [Thursday, November 22, 2:15 p.m.]

Earthing Unicorn Valuations by including Preferred Cash Flow Rights (in English)

  • In the VC area, the enterprise value is often determined using the ratio "inflow of funds from financing round / additional share of equity".
  • This approach neglects the effect of special rights (e.g. liquidation preferences)
  • Lack of consideration leads to drastic overvaluations ("Unicorn" study USA: up to 200%)
  • Inclusion of special rights in the valuation requires option-price theoretical models

Prof. Dr. Bernhard Schwetzler, CVA

is a Chairholder of Financial Management Chair at HHL Leipzig Graduate School of Management in Leipzig, Germany

Academic Education:

    • 1995 Habilitation in Business Administration, University of Regensburg, Germany
    • 1992 Visiting Scholar, Krannert School of Management, Purdue University, West Lafayette, Indiana, USA
    • 1989-1995 Senior Lecturer, Department of Investment, Finance & Banking, University of Regensburg, Germany
    • 1989 Dr. rer. pol., University of Regensburg, Germany
    • 1985-1989 Research Assistant, Department of Investment, Finance & Banking, University of Regensburg, Germany
    • 1979-1985 Studies in Business Administration (Diplom-Kaufmann), University of Regensburg, Germany

Research Interests

  • International corporate transactions
  • Corporate Valuation : DCF Valuation (Growth, Inflation, Taxes); Multiple-Based Valuation (Accuracy, Consistency)
  • Private Equity: Performance Measurement, Bankruptcy Risk, Fund Raising, Add on Acquisitions
  • Firm risk, capital structure and valuation of tax benefits

Management Education and Training

  • Extensive experience in management training and education. Courses and seminars in corporate finance, private equity and corporate valuation for international firms like Roland Berger Strategy Consultants, KPMG, Jenoptik, Association of German Asset Managers, German CFA Institute

Honors and Awards

  • June 4, 2013 Professor of the Week, The Financial Times, www.ft.com
  • 2004/2005 Best Professor Award, HHL Leipzig Graduate School of Management, Germany
  • 2001 Initiative Award, Stiftung Industrieforschung for the effort of the Association for Innovation, Start-Up and Growth at the HHL e.V. (VIEW), Bonn, Germany
  • 1997 Distinguished Research Prize of Bayerische Landesbank Girozentrale, Award granted for the habilitation thesis "Interest Rate Risk and Portfolio Selection", Munich, Germany
  • 1989 "Thurn und Taxis" Prize for Business Administration granted for the dissertation thesis "Employee Participation Plans and Corporate Finance", Regensburg, German

Memberships and Affiliations

  • Chairman of the expert groups "Fairness Opinion" and "Corporate Transaction and Valuation" of the Society of Investment Professionals in Germany (DVFA)
  • Co-Founder and member of the board of the European Association of Certified Valuators and Analysts (EACVA e.V.)
  • Member of the editorial board of CORPORATE FINANCE
  • Member of the scientific advisory board of the German Private Equity and Venture Capital Association (BVK)
  • Member of the investment committee of the Technologiegründerfonds Sachsen (TGFS)
  • Member of the supervisory board of Onvista AG (2000-2006)
  • Member of the German Finance Association, European Finance Association (EFA), German Academic Association for Business Research, Verein für Socialpolitik e.V.

Vorträge am November 23, 2018:
  • Session F-21 (in English)

Past Conferences' Review

2016 Business Valuation Conference

EACVA 13EACVA's 10th Annual Business Valuation Conference was held on November 24–25, 2016 in the Hotel Palace Berlin, Germany. About 300 Conference attendees could chose from a diversified program with 24 sessions on current developments in business and intangible assets valuation.

Read more...

Diamond Sponsor 2018

    IVC Logo 2c.eps

Gold Sponsors 2018

ADKL nurLogo.jpeg     Allert Logo     BEC Logo BBH 

KPMG NoCP RGB   spg mrkt

Exhibitors

BEC Logo BBH   finexpert Logo IDW Verlag CMYK groß NWB LogoVerlag u Gelb 

  spg mrkt  VTLogoClaim Groesse3 Positiv rgb 300dpi  Wiley Wordmark black

Conference Venue

Hotel Palace Berlin
Budapester Str. 45
10787 Berlin

www.palace.de/en

Contact EACVA

For any information about the 2018 Annual Conference or registration, please contact us at phone: +49 69 247 487 911 or E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

European Association of Certified Valuators and Analysts (EACVA)
Phone: +49 69 247 487 911 I Fax: +49 69 247 487 912
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.  I Web: www.eacva.de 

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