Certified Equity Research Analyst

Introduction

• Goals of Equity Research
• Elements of Equity Research
• Process of Equity Research
• Types of Research
• Classification of Stocks and Market participants
• Concept of Equity Markets and Valuation
• Role of Analyst
• Role of Equity Research in Capital Market
• Different approaches of Equity Research

Economic Analysis

• Need and advantages of economic analysis
• Inter-relationship between Stock Markets and Macroeconomy
• Index and Indicators
• Interest Rates
• Fiscal and Monitory Policy

Corporate Finance

• Fundamentals of Business Finance, Analysis and Investment
• Financial Management
• Financial Evaluation of Investments
• Evaluating Marketable Securities
• Financial Decisions
• Capital Structure
• Value and Capital Budgeting
• Corporate Financial Planning
• Cash and Credit Management

Industry Analysis

• Competitive Business Strategies
• Tools and Policies in Industrial Analysis
• Porter’s Five Force Analysis and Generic Strategies
• Industrial Forces

Company Analysis

• Management System and Business Analysis
• Types of Financial Statements
• Sources of data for Financial Statements
• Financial Statement Analysis
• Growth Rate Sustainability
• Cash Flow Valuation Process
• Capital Asset Pricing Model (CAPM)
• Arbitrage Pricing Theory (APT)
• Understanding Competition and Revenue Drivers

Valuation

• Concept of valuation
• Models of valuation
• Technique of valuation
• Forecasting and Growth Rate Analysis
• Preparing Research Reports

Modeling

• Discount cash Flow Valuation Model
• Dividend Discount Models
• Gordon Growth Model
• Free Cash Flow Models
• Relative Valuation Models
• SOTP Valuation