Fundamentals of corporate finance (intensive course)

EM054M2JA1

Semestre
A
Discipline
Finance
Volume horaire
27 H
Nombre de places
45
Ouvert aux visitants
Oui
Langue
EN
Responsable
Fergal O'Brien

Liste des intervenants

Intervenant(s) Email Volume horaire CM
Fergal O'BRIEN fergal.g.obrien@ul.ie 27 h

Contribution pédagogique du cours au programme

Aucune contribution pédagogique associé à ce cours pour ce programme.

Descriptif

The aim of this course is to develop students’ understanding of fundamental topics in corporate finance. A key focus of this course is on discounted cash flow techniques, and their applications in corporate finance. This course introduces the concept of the time value of money, and the popular methods of project appraisal including the net present value method, the payback period, the book rate of return, internal rate of return, profitability indices, etc. Qualitative aspects of capital budgeting and investments are also examined. The various financial assets and capital markets are introduced. The concept of market efficiency and the link between risk and return are illustrated by reference to historical returns. Basic issues around asset valuation are also discussed, and students are introduced to derivative instruments, and how they may be used both defensively and aggressively. The role of risk underpins the key concepts and features heavily in the course content.

Organisation pédagogique

Face-to-face

- Lectures
- Tutorials

In group

- Exercises
- Oral presentations
- Projects
- Case studies/texts

Interaction

- Discussions/debates

Others

Aucun élément de cette liste n'a été coché.

Objectifs pédagogiques

Cognitive domain

A l'issue du cours, l'étudiant(e) devrait être capable de / d'...
  • - (niv. 1) outline the role of financial managers in modern business organisations.
  • - (niv. 1) recognize the trade-off between risk and return
  • - (niv. 1) outline the various forms of basic derivative instruments and their uses in risk management
  • - (niv. 3) calculate present and future values of streams of cash flows
  • - (niv. 3) calculate the payback period, accounting rate of return, net present value and internal rate of return of a project
  • - (niv. 3) calculate , at a basic level, the value of equities, bonds and derivatives
  • - (niv. 5) interpret financial data to make informed business decisions
  • - (niv. 5) evaluate risky projects using a range of capital budgeting techniques

Affective domain

A l'issue du cours, l'étudiant(e) devrait être capable de / d'...
Aucun affective domain n'a pour le moment été associé à ce cours.

Objectifs de développement durable abordés

Aucun objectif de développement durable n'a été coché.

Plan / Sommaire

Indicative: Session 1 – Introduction to Finance Session 2 – Capital Markets & the Goal of Modern Business Organisations Session 3 – The Time Value of Money Session 4 – Investment & Compounding Session 5 – In-Class Assessment Session 6 – Introduction to Evaluating Risky Projects Session 7 – Net Present Value & Internal Rate of Return Session 8 – Payback & Other Capital Budgeting Techniques Session 9 – Applied Capital Budgeting I Session 10 – Applied Capital Budgeting II Session 11 – Sensitivity & Scenario Analysis Session 12 – Capital Budgeting Case Study Session 13 – Group Project Introduction Session 14 – Introduction to Capital Markets Session 15 – Bonds Session 16 – Equities Session 17 – Futures Session 18 – Options Session 19 – Bond Valuation, Yields & Ratings Session 20 – Equity Valuation Session 21 - WACC Session 22 – Option Pricing Session 23 – Real Options Session 24 – Risk & Return I Session 25 – Risk & Return II Session 26 – Group Work Summary Session 27 – Final Exam

Prérequis nécessaires

Connaissances en / Notions clés à maîtriser

Comfortable with relatively basic mathematics. Very basic Excel knowledge an advantage

Supports pédagogiques

Mandatory tools for the course

Aucun élément de cette liste n'a été coché.

Documents in all formats


- Newspaper articles

Moodle platform

- Upload of class documents

Software

- Pack Office (Word, Excel, PowerPoint, Access)

Additional electronic platforms

Aucun élément de cette liste n'a été coché.

Bibliographie recommandée

Ouvrages principaux

Fundamentals of Corporate Finance, Hillier, Ross, Westerfield and Jordan (2022), 4th Ed. McGraw Hill

Littérature complémentaire

Mollah, M.A.S., Rouf, M.A. and Rana, S.M.S. (2021), "A study on capital budgeting practices of some selected companies in Bangladesh", PSU Research Review, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/PRR-10-2020-0035 de Andrés, P., de Fuente, G., & Martín, P. S. (2015). Capital Budgeting Practices in Spain. BRQ Business Research Quarterly, 18(1), 37–56. https://doi.org/10.1016/j.brq.2014.08.002 Ipsmiller, E., Brouthers, K. D., and Dikova, D. (2019) 25 Years of Real Option Empirical Research in Management. European Management Review, 16: 55– 68. https://doi.org/10.1111/emre.12324.

Travaux de recherche de l'EM : Veillez à mobiliser au moins une ressource

Peuvent être renseignés les manuels coordonnés, les traductions de manuel, les études de cas traduites etc…
Aucun ouvrage n'a été renseigné.

Modalités d'évaluation

Liste des modalités d'évaluation

Evaluation intermédiaire / contrôle continu 1Autre (date, contrôle surprise...) : 0
Ecrite / individuelle / Anglais / pondération : 15 %
Précisions : Individual calculation-based test 15% (during first week), testing ability to carry out basic finance calculations
Evaluation intermédiaire / contrôle continu 2Autre (date, contrôle surprise...) : 0
Orale / en groupe / Anglais / pondération : 25 %
Précisions : Group project at start of the second week to perform a basic commentary on an assigned financial market (25%)
Evaluation finaleDernière séance
Ecrite (60 min) / individuelle / Anglais / pondération : 60 %
Précisions : -
Aucune modalité d'évaluation n'a pour le moment été attribuée à ce cours.