Dietmar Ernst – författare

This book provides a comprehensive introduction to modern financial modeling using Excel, VBA, standards of financial modeling and model review.  It offers guidance on essential modeling concepts around the four core financial activities in the modern financial industry today: financial management; corporate finance; portfolio management and financial derivatives. Written in a highly practical, market focused manner, it gives step-by-step guidance on modeling practical problems in a structured manner. Quick and interactive learning is assured due to the structure as a training course which includes applied examples that are easy to follow. All applied examples contained in the book can be reproduced step by step with the help of the Excel files. The content of this book serves as the foundation for the training course Certified Financial Modeler.

In an industry that is becoming increasingly complex, financial modeling is a key skill for practitioners across all key sectors offinance and banking, where complicated problems often need to be solved quickly and clearly. This book will equip readers with the basic modeling skills required across the industry today.

Mergers & acquisitions are an essential instrument of strategic corporate management for companies of all sizes. The success of an M&A project highly depends on an optimal transaction preparation, fast execution and the experience of all parties involved. Due to numerous endogenous and exogenous influences, no two M&A transactions are alike at the detailed level.

This book is designed as a practical M&A guide for students and professionals alike. In addition to dealing with important basics of mergers & acquisitions, the focus is on a structured and in-depth examination of the individual process steps of a typical company sale. At various points in this book, specific differences between a company sale of medium-sized companies (mid-caps) and large companies (large-caps) are discussed in detail.

This book portrays the distributions that are fundamental for enterprise risk management and shows when and how they are used. These include the Bernoulli distribution, the binomial distribution, the Poisson distribution, the uniform distribution, the triangular distribution, the PERT distribution, the modified PERT distribution, the trapezoidal distribution, the custom distribution, the normal distribution, the lognormal distribution, the Weibull distribution, the expert distribution, the poly distribution and the compound distribution. Furthermore, the book explains how the parameterisation of the distributions can be done via expert estimates or algorithmic calibration.

This book shows how modern risk management in banks and insurance companies can be modeled in Excel and Matlab. Readers are provided with all the necessary knowledge and skills in a systematic and structured step-by-step manner. Apart from basic Excel knowledge, no previous knowledge is required. The textbook is divided into five parts. First, the reader learns the basics of analyzing and modeling market risks. Next, the authors introduce and explain the modeling of credit risks and operational risks are quantified by calibrating loss distributions based on expert estimates. Furthermore, individual risk measures are examined in more detail. In order to calculate a risk measure for an overall portfolio to determine the risk capital, the question of the aggregation method is discussed. There are various common concepts for this, which are examined in more detail in the last part of the book.

The book is aimed at students of business administration with a focus on financial services. Accompanying the book, readers receive Excel spreadsheets as digital bonus material for practice and application.

In times of crisis, risk management is more important than ever. In addition, companies are obliged to identify, quantify and aggregate risks as part of a risk management system. Legal and auditing standards have set the framework for doing so. This book uses a case study to show ‘step by step’ how risks can be analyzed and quantified with the help of Microsoft Excel. The book begins with the graphical representation of risks and the calculation of risk parameters such as the value at risk. It subsequently aggregates different risks into an overall risk using Monte Carlo simulation. Hedging risks is also explained, and how non-hedgeable risks can be integrated into a business plan. The assessment of extreme risks is also addressed, as is the modeling of volatilities. The book is aimed at students of business administration with a focus on finance.

This textbook rethinks derivatives in a structured manner. This is done from the perspective of financial modeling, whereby the central issues from the financial economy are holistically mapped and resolved with the help of Microsoft Excel. The guideline of the book is an integrated case study, which is divided into two parts. The first part deals with the basics and the valuation of options and futures. In the second part, the individual option strategies are examined step by step in separate course units. The analysis ends – figuratively speaking – in a cockpit of sorts, where the reader controls the possible strategies in Excel. The book is aimed at students of business administration with a focus on finance.

Geschäftliche Vorhaben, Investitionen, Kapitalanlagen und Unternehmen zu bewerten, ist zu einer wichtigen Grundaufgabe in der Wirtschaft geworden. Die "richtige" Investition zu wählen und die "falsche" zu meiden, ist eine Entscheidungsaufgabe hohen Ranges unserer Gesellschaft, und auch sie setzt die Bewertung der jeweiligen Vorhaben voraus. Die Unternehmensbewertung - ein etabliertes Fach der Betriebswirtschaftslehre - verlangt es, zukünftige und unsichere Geldbeträge zu diskontieren, Kapitalkosten zu bestimmen, und zu verstehen, mit welchen Bewertungsansätzen Projekte und Unternehmen bewertet werden können. Das Lehrbuch erläutert die grundlegenden Ansätze der Unternehmensbewertung, so die als Best-Practice betrachtete DCF-Methode. Ebenso werden Varianten und weitere Ansätze zur Unternehmensbewertung dargestellt, darunter das recht häufig angewandte Vorgehen ein Multiple auf eine Basisgröße anzuwenden oder das in der Praxis hoch geschätzte Konzept der Residual Income Valuation.