Dates
Summer Session 1: May 31 – June 13, 2026
Summer Session 2: July 5 – 18, 2026
Location
Philadelphia, USA
Application Deadlines
For information regarding our submission deadlines, please visit our application information page.
Program Fee
$7,599 (includes housing and meals)
Contact
For more information, please contact: AcademyPrograms@wharton.upenn.edu
Overview
Fundamentals of Corporate Finance and Valuation invites students to learn the core concepts of finance from the Wharton School, a world leader in business education. This intensive program applies to individuals seeking a career in finance, any area of business, or those with an entrepreneurial mindset.
Program Learning Goals:
- Analyze company financial statements to assess business health and performance.
- Understand the impact of inflation and interest rates on financial decision-making.
- Develop financial models to support investment and business strategies.
- Explore capital structure, risk assessment, and cost of capital considerations.
- Evaluate project viability and investment decision-making processes.
- Conduct company valuation using industry-standard methodologies.
- Assess startups and early-stage companies for investment potential.
- Gain insight into private equity, leveraged buyouts, mergers, and acquisitions.
Fundamentals of Corporate Finance and Valuation uses an innovative case-driven curriculum developed by Wharton Professor Michael Roberts that is focused on corporate finance concepts, and promotes the exploration of how these concepts can be applied practically.
Capstone Project:
Students will form teams and work together over two weeks to develop a comprehensive financial analysis and valuation report for a selected company. Teams will:
- Conduct a financial statement analysis of the company.
- Apply valuation techniques to determine the company’s worth.
- Assess risk factors, capital structure, and potential investment strategies.
- Present their findings and recommendations in a final financial pitch.
At the program’s conclusion, teams will showcase their valuation insights, demonstrating their understanding of financial principles, business strategy, and investment decision-making.
Details
Academic classes for Fundamentals of Corporate Finance and Valuation are held Monday-Friday, 9 a.m. to 5 p.m., with evenings free (except for one or two group events).
Sample Agenda
The following is a sample agenda to give you a better idea of the topics covered in the Fundamentals of Corporate Finance and Valuation program. This is only a sample; the actual schedule is subject to change based on the instructor’s needs. The official schedule will be available upon the start of the program.
- Week 1
- Monday – Introduction to Corporate Finance & Financial Statements
- Tuesday – Project Viability & Discounted Cash Flow Analysis
- Wednesday – Project Selection & Investment Decision Criteria
- Thursday – Estimating Cost of Capital & Raising Capital
- Friday – Corporate Valuation & Capstone Formation
- Week 2
- Monday – Market Comparables & Valuation Techniques
- Tuesday – Raising Capital & Private Firm Valuation
- Wednesday – Venture Capital & Private Equity
- Thursday – Mergers & Acquisitions (M&A) and Leveraged Buyouts (LBO)
- Friday – Capstone Presentations & Program Wrap-Up
Wharton Academy students will:
- Earn a Wharton Academy certificate of completion with a digital badge
- Join visiting undergraduates from around the world to build a network of emerging business professionals
- Engage in a 60-hour in-person learning program in Wharton classrooms
- Enjoy housing & meals in the residence halls at the University of Pennsylvania
Eligibility
Qualifications for Participation
- Current Undergraduate student or recent college graduate
- Highest English proficiency – TOEFL 100+ IELTS-Band 7 or higher. If TOEFL or IELTS scores are unavailable, applicants may submit Duolingo, PSAT, SAT, or ACT scores as an alternate. The minimum Duolingo score required is 130.
- Strong quantitative skills
Admission
Admission to Wharton Fundamentals of Corporate Finance and Valuation is selective. Selections are based on a record of academic excellence and a genuine interest in developing finance skills.
Please note that participation in the Wharton Fundamentals of Corporate Finance and Valuation program does not guarantee admission into Penn.
Instructional Team
Instructor: Jonathan Zandberg
Jonathan Zandberg is a Senior Lecturer of Finance at the Wharton School. He teaches courses in corporate finance, venture capital, and the finance of innovation. Jonathan’s research centers on empirical finance, focusing on how policy reforms influence economic outcomes, particularly in entrepreneurship and access to capital. His work examines financial barriers faced by underrepresented groups, using data-driven approaches and natural experiments to assess the impact of public policies on economic inequality and business success. He holds a Ph.D. in Finance from Boston College, an MBA from Duke University, and a B.Sc. in Economics from Tel Aviv University.
Academic Director: Michael R. Roberts
Michael is the William H. Lawrence Professor of Finance at the Wharton School of the University of Pennsylvania, a Research Associate of the National Bureau of Economic Research, and an affiliate of the Institute for Law and Economics and the Wharton Financial Institutions Center at the University of Pennsylvania. He also founded and heads the Wharton Financial Analytics Initiative. Professor Roberts’ research spans corporate finance, banking, and asset pricing. Recent work has examined equity pricing anomalies, collateralized loan obligation (CLO) performance, and the effect of interest rates on bank lending. His research has received several awards including two Brattle Prizes for Distinguished Paper published in the Journal of Finance, a Jensen Prize for best paper on Corporate Finance and Organizations published in the Journal of Financial Economics, and Best Paper awards from the Financial Management Association, Southwestern Finance Association, and Rodney L. White Center for Financial Research.
Professor Roberts earned his B.A. in Economics from the University of California at San Diego, and his M.A. in Statistics and Ph.D. in Economics from the University of California at Berkeley.