Welcome Address EACVA: WP StB Andreas Creutzmann, CVA / Wolfgang Kniest, CVA / WP StB Univ.-Prof. Dr. Klaus Rabel, CVA

Opening Keynote: Outright Economic Warfare – Can It Be Contained?

• What is economic warfare
• The role of risk assessment of decision makers vis-à-vis long-term developments
• The geotectonic default lines and their impact on economic value
• Potentials for robust states and enterprises

Speaker: Prof. Dr. Dr. h.c. Ulrich Blum, University of Halle I Institute for Technologies and Economics of Lithium

Virtual Coffee Break

Session A: Accounting Insights for Valuation Professionals – Red Flags & More

• Recent academic work on accounting red flags
• Examples of factors across accounting and auditing
• Developing and testing a red flags framework
• Improving value investing techniques through the use of accounting information
• Other accounting related insights of interest

Speaker: Dr. Kenneth Lee, CFA, The London School of Economics and Political Science

Virtual Lunch Break

Session B: Betanomics 2022: Some Dos and Don’ts of Dealing with Capital Market Data

• Unlevered Beta: Are you ready for some statistics?
• Adjusted Betas: Can you manage the model consistencies?
• Maximum Vasiceking: Its economics – not mechanics
• Attenuation bias: First, do no harm

Speaker: Prof. Dr. Matthias Meitner, CFA, International School of Management / VALUESQUE

Virtual Coffee Break

Session C: Challenges to Market Value

• Price, Cost, Value and Worth
• How do we define what the ‘market’ is and how does this impact on Market Value?
• What is the Market Value conceptual framework?
• Is market Value backward looking?
• Are the ‘peaks’ and ‘troughs’ truly captured when using a Market Value premise?
• How does the valuer utilise assumptions and special assumptions with Market Value?

Speaker: Alexander Aronsohn, FRICS, IVSC

Virtual Coffee Break

Session D: Time to Get Tangible About Intangible Assets

• Intangible assets are playing a more important role in company’s abilities / attempts to create value than ever before
• Hence, there is a need for companies to become more ‘tangible’ (read: transparent, informative) about these intangibles
• Ways to do so are: read more...
  

Speaker: Henk Oosterhout, Ph.D., MBA, Kroll

Session E: Special Cases in the Valuation of Venture Capital Investments

• Introduction to the OPM-based valuation of preferred shares
• Distributing vs. non-distributing preferred shares
• Using the back-solve method when primary and secondary transactions are present
• Dilutive effects of stock options

Speaker: Dr. Christoph Engel, CFA, CVA, Accuracy

Virtual Coffee Break

Session F: Peer Group Selection Using Artificial Intelligence Technology

• Peer Selection for Transaction Multiplier Valuation – Strategies & Selection Criteria
• Peer Group Size & Composition
• Application of Artificial Intelligence Technology in Business Valuation
• Maschine Learning Algorithms – Types, Characteristics and Application Power
• Can Machines Learn better Peer Groups?

Speakers: StB Prof. PD MMag. Dr. Stefan O. Grbenic, CVA, Graz University of Technology / 
Prof. ddr. Timotej Jagrič, University of Maribor

Virtual Coffee Break

11:45 am  − 12:45 pm

Session G: Leasing & Valuation – Common Pitfalls and How to Avoid Them

Speaker: Dr. Timo Willershausen, PwC

Virtual Lunch Break

2:00 − 3:00 pm

Session H: Diving into Deals: Gain a Deeper Understanding of SME Transaction Databases and How to Use Them Effectively

Speaker: Lari Masten, MSA, CPA, ABV, CFF, CVA, CPVA, ABAR, MAFF, Masten Valuation

Virtual Coffee Break

3:30 − 4:45 pm

Closing Keynote: ESG and Valuation

• ESG and Shareholder Wealth Maximization
• ESG, the Cost of Capital, and Investor Returns
• ESG and Agency: The Standing Issue
• ESG and Corporate Decision Making: The Information Problem
• ESG and Valuation in a Global Context

Speaker: Prof. Bradford Cornell, Ph.D., University of California, Los Angeles

End of the Conference

Agenda and speakers are subject to change