On 9 October 2026, Banking and Finance Department hosted an open lecture titled “Value and Valuation of Businesses,” delivered by Mr. Anton Lezhja,  with 30 year of experience as Financial Advisory at Deloitte, Accredited Senior Appraiser of American Society of Appraisers, and   Trainer at  International Institute of Business Valuers, under the umbrella of  "Market Segmentations within the Financial Markets" Series which we aim to Unbox Finance and explore all Voices from Financial Markets.  

The lecture explored the fundamental concepts of value, price, and cost, highlighting their differences and their importance in evaluating businesses. Particular attention was given to the key factors that drive business value, including expected future economic benefits, cash flow generation, growth prospects, risk, and ownership rights.

A central part of the session focused on the three main approaches to business valuation: the income approach, the market approach, and the asset approach. Through practical explanations and illustrative examples, students were introduced to methods such as discounted cash flow (DCF) analysis, capitalisation, comparable company analysis, transaction multiples, and adjusted net asset valuation. The lecture also examined the distinction between enterprise value and equity value, as well as the circumstances in which business valuations are used, including mergers and acquisitions, investment decisions, financial reporting, and strategic planning.

Beyond the technical aspects, the session addressed the professional responsibilities of business valuers, emphasising the importance of objectivity, ethical standards, reliable financial information, and sound professional judgement. The discussion also considered the growing role of artificial intelligence in valuation, highlighting its potential to support financial analysis and modelling while reinforcing the importance of human oversight, transparency, and accountability.

The lecture provided students with a practical perspective on how businesses are assessed and how valuation supports financial decision-making across different sectors. By connecting theoretical knowledge with professional practice, the session contributed to strengthening students’ understanding of business valuation and its relevance in today’s financial and investment environment.

Epoka University continues to promote engagement between academia and industry, creating opportunities for students to learn from professionals and gain insights into the knowledge and skills required in the financial sector.