EM3E5M11
Program
PGE
PGE 3A -Finance (FIN)
PGE 3A -Finance (FIN)
UE
International Corporate Finance
Semester
A
Discipline
Finance
Contact hours
30 H
Number of spots
45
Open to visitors
Yes
Language
Coordinator
Marie-Hélène BROIHANNE
List of lecturers
| Lecturer(s) | Contact hours - lecture | |
|---|---|---|
| Marie-Hélène BROIHANNE | mhb@unistra.fr | 14 h |
| Hava ORKUT | horkut@em-strasbourg.eu | 16 h |
Pedagogical contribution of the course to the program
LEARNING GOAL 1 : Students will master state-of-the-art knowledge and tools in management fields in general, as well as in areas specific to the specialized field of management. |
|---|
| Students will identify a business organization’s operational and managerial challenges in a complex and evolving environment. |
| Students will understand state-of-the-art management concepts and tools and use them appropriately. |
| Students will implement appropriate methodologies to develop appropriate solutions for business issues. |
| LEARNING GOAL 2 : Students will develop advanced-level managerial skills. |
| Students will work collaboratively in a team. |
| Students will participate in a decision-making process in a critical way. |
| Students will communicate ideas effectively, both orally and in writing, in a business context. |
| LEARNING GOAL 4: Students will study and work effectively in a multicultural and international environment. |
| Students will demonstrate written and oral competency in two foreign languages. |
Description
This course will examine both organizational and financial drivers of shareholder value. By offering examples of corporate actions and policies in different industries and countries it will illustrate the effects of competition and environment on financing choices. It will also offer insights into why companies do not always strive to maximize shareholder value.Teaching methods
Face-to-face
- Lectures- E-learning
In group
- Projects
- Case studies/texts
Interaction
No items in this list have been checked.Others
No items in this list have been checked.Learning objectives
Cognitive domain
Upon completion of this course, students should be able to- - (level 2) Explain the role of finance in an organization
- - (level 2) Describe what determines the value of a firm’s securities and how management can influence these values.
- - (level 2) Discuss the various methods for analyzing projects, how to apply them, and what to do if there are conflicting recommendations.
- - (level 3) Use excel to determine the beta of a firm
- - (level 3) Compute discount/hurdle rates.
- - (level 3) Apply basic valuation concepts to international firms
- - (level 4) Analyze the relationship between strategic decision making and corporate financing decisions.
- - (level 5) Formulate a firm’s risk, explain what determines this risk, and how this affects the value of a firm.
Affective domain
Upon completion of this course, students should be able toNone affective domain have been associated with this course yet
Outline
Part I: Investing decision Ch I: WACC and hurdle rates (Marie-Hélène Broihanne) • Section 1: The cost of equity • Section 2: The cost of debt • Section 3: WACC Ch. II: Evaluation of investment projects (Hava Orküt) Section 1: Time value of money Section 2: Investment rules Section 3: Evaluation of Cash flows Part II: Financing decisions & Payout policy (Hava Orküt) Ch.1: Financing decisions Section 1: An overview of financing choices Section 2: The financing process Ch. 2: Payout policyNo prerequisite has been provided
Knowledge in / Key concepts to master
Financial analysis Basic courses in Microeconomics, Finance and Statistics are prerequisites. Introductory accounting is also needed.Teaching material
Mandatory tools for the course
No items in this list have been checked.Documents in all formats
- Photocopies- Case studies/texts
Moodle platform
No items in this list have been checked.Software
No items in this list have been checked.Additional electronic platforms
No items in this list have been checked.Recommended reading
CORPORATE FINANCE, Damodaran, ed. Wiley CORPORATE FINANCE, Berk, DeMarzo, ed. Pearson Principles of Corporate Finance, Brealey, Myers and Allen, ed MacGraw-Hill Web sites : www.vernimmen.com http://pages.stern.nyu.edu/~adamodar/
No reading material has been provided.
EM Research: Be sure to mobilize at least one resource
Textbooks, case studies, translated material, etc. can be enteredNo reading material has been provided.
Assessment
List of assessment methods
Intermediate assessment / continuous assessment 1Other (date, pop quiz, etc.) : 11/08/2022
Written / Group / English / Weight : 40 %
Details : Report in group on the WACC of a company. Deadline Nov, 8th, 6 p.m.
This evaluation is used to measure LO1.1, LO1.2, LO1.3, LO2.1, LO2.2, LO2.3, LO4.1
Written / Group / English / Weight : 40 %
Details : Report in group on the WACC of a company. Deadline Nov, 8th, 6 p.m.
This evaluation is used to measure LO1.1, LO1.2, LO1.3, LO2.1, LO2.2, LO2.3, LO4.1
Final evaluationExam week
Written (120 Min.) / Individual / English / Weight : 60 %
This evaluation is used to measure LO1.1, LO1.2, LO1.3
Written (120 Min.) / Individual / English / Weight : 60 %
This evaluation is used to measure LO1.1, LO1.2, LO1.3