Corporate Restructuring PT
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Value-based Management Concepts

level of course unit

second cycle, Master

Learning outcomes of course unit

Upon successful completion of the course, students are able to identify the complex relationships of value management within the enterprise management process, based on a value-based management system with value-based remuneration. Furthermore, its interfaces to cost accounting and capital budgeting shall be recognized, performed and implemented.

prerequisites and co-requisites

not applicable

course contents

The two concepts Economic Added Value (EVA) and Cashflow Value Added (CVA ) will be shown by its determinants, explained in depth through case studies , their applications demonstrated at DAX companies and its pros and cons discussed. The integration of value management in the strategic controlling process will be explained and the most important value leverages (portfolio management, investment for profitable growth, capital cost reduction, operational value drivers to increase profitability) are shown.

In addition, the introduction of a value-based management system in accordance with EVA is described in terms of two practical examples. Based on the requirements of the role of external financial reporting, the comparison of dHGB / öUGB to IFRS, of total cost to cost of sales is discussed and ways to adapt the internal to the external billing is described. Using practical examples the design of control data , reporting structures , reporting processes, IT concepts and their implementations will be discussed .

recommended or required reading

Eßlinger Paul (2013) Wertorientierte Managementkonzepte. In: Exler, Markus (Hrsg.) Restrukturierungs- und Turnaround-Management, S.249-268, Berlin,
Copeland, T. u.a. (2002). Unternehmenswert, Methoden und Strategien für eine wertorientierte Unternehmensführung, Frankfurt.
Stern Steward & Co (2011). Coenenberg, A. & Salfeld, R. (2007). Wertorientierte Unternehmensführung, Vom Strategieentwurf zur Implementierung, Stuttgart.
Exler, M. (2010). Controllingorientiertes Finanz- und Rechnungswesen Jahresabschluss & Analyse, Finanzwirtschaft, Wertmanagement, Durchgängige Fallstudie.
Horváth. & Partners (2006). Das Controllingkonzept, Der Weg zu einem wirkungsvollen Controllingsystem, München.
Lorson, P. (2004). Auswirkungen von Shareholder-Value-Konzepten auf die Bewertung und Steuerung ganzer Unternehmen, Herne.
Rappaport, A. (1986). Creating Shareholder Value: The New Standard for Business Reporting, New York.
Schweickart, N. & Töpfer, A. (Hrsg.) (2006). Wertorientiertes Management, Werterhaltung - Wertsteuerung Wertsteigerung ganzheitlich gestalten, Berlin.

assessment methods and criteria

written examination or homework

language of instruction


number of ECTS credits allocated


course-hours-per-week (chw)


planned learning activities and teaching methods

Lecture, group work, presentation and task discussion

semester/trimester when the course unit is delivered


name of lecturer(s)

Dr. Dipl.-Ing. Paul Eßlinger

year of study

1.year of studies

recommended optional program components

not applicable

course unit code


type of course unit

compulsory (integrated lecture)

mode of delivery

In-class course

work placement(s)

not applicable


Situm Mario
Prof. (FH) DDr. Mario Situm, MBA
Director of Studies
+43 5372 71819 147
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Internationales Symposium Restrukturierung

Am 23. Oktober 2020 findet das „9. Internationale Symposium Restrukturierung“ an der Fachhochschule Kufstein Tirol statt.

Im Mittelpunkt der Jahreskonferenz 2020 steht das Rahmenthema "Gute Führung". Details finden Sie hier.

Restrukturierungs- und Turnaround-Management

ild: Buch Restrukturierungs- und Turnaround- Management


Der berufsbegleitende Masterstudiengang „Unternehmensrestrukturierung & -sanierung“ ist nach einjähriger Begutachtung offiziell „TMA zertifiziert“ – das renommierte Qualitätssiegel des Verbandes der deutschen Restrukturierungsexperten (TMA).

Weitere Informationen siehe hier.