Студопедия — Plan of classes
Студопедия Главная Случайная страница Обратная связь

Разделы: Автомобили Астрономия Биология География Дом и сад Другие языки Другое Информатика История Культура Литература Логика Математика Медицина Металлургия Механика Образование Охрана труда Педагогика Политика Право Психология Религия Риторика Социология Спорт Строительство Технология Туризм Физика Философия Финансы Химия Черчение Экология Экономика Электроника

Plan of classes






Topic 1. Introduction to Corporate Finance. Overview of Financial Decisions.

Class 1.
  October 8   1 p.m. – 4.15 p.m.   Room 403 Key points: — Financial management: goals, primary issues, company’s value and cash flows — Introduction to the course — Free cash flow and company’s value — Accounting and market-based performance results — Capital allocation process and financial markets   Learning outcomes: Students should be able to — Explain the main goal and primary issues of financial management — Understand the concept of the free cash flow, relationship between company’s value and cash flows — Calculate free cash flow — Understand the capital allocation process and the role of financial markets   Assignments for class 2: Reading: E. Brigham, M. Ehrhardt. Financial Management: Theory & Practice . 14th ed. Thomson-South Western. 2014 (BE): ch. 1, 2, 5 Chapters 1 and 2 are required readings to get basic ideas of corporate finance, financial markets and instruments; repeat financial statements structure and performance measures.

Topic 2. Interest Rates and Debt Securities. Bonds Valuation.

 

Class 2.
  October 15   1 p.m. – 4.15 p.m.   Room 403 Key points: — Securitization and financial crisis – discussion — Bond features, factors that impact bond prices — Types of bonds. Pure discount bonds. Coupon bonds — Interest rates and bond valuation. Impact of the discount rate and timing of payments on bond valuation — Term structure of interest rates — Bond prices and yields. Current yield and yield to maturity. — Relationships between coupon rate, required return, and bond price — Bond valuation and bond yields   Learning outcomes: Students should be able to — Understand what is the process of securitization is and how it triggered the crisis — Know main types of bonds and their characteristics — Define bond features and how different factors could affect bond prices and yields — Understand the term structure of interest rates and the determinants of bond yields — Apply present value concept to valuation of bonds — Use different models for bond yields estimation   Assignments for class 3: Reading: — BE: ch. 5, 7  

Topic 3. Stocks Valuation.

Class 3.
  October 22   1 p.m. – 4.15 p.m.   Room 410 In-class assignment: Test 1 (topics 1, 2) (45 min) Key points: — Factors that affect stock prices — Stock valuation methods. Discounted dividend model. — Adjusting the dividend discount model. — Multiples approach to stocks valuation Learning outcomes: Students should be able to: — Understand how stock prices depend on future dividends and dividend growth — Be able to value stocks using the dividend growth model — Value stocks using the dividend growth model — Explain and use multiples approach to stocks valuation Assignments for class 4: Reading: — BE: ch. 6, 7  

Topic 4. Equity Valuation and Risk. Capital Asset Pricing Model.

Class 4.
  October 30   1 p.m. – 4.15 p.m.   Room 209 In-class assignment: Quiz 1 (15 min) Key points: — Tradeoff between risk and return — Risk and diversification — Risk measures — Stand-alone and portfolio risk — Systematic and unsystematic risk — CAPM and security market line — Calculating beta coefficients — Using CAPM for equity return estimation   Learning outcomes: Students should be able to: — Understand the concept of risk and return on investments — Understand and calculate risk measures — Understand the concepts of systematic and unsystematic risks — Calculate beta coefficients — Use CAPM for estimating expected return on equity   Assignments for class 5: Reading: — BE: ch. 6, 9   Group project – Part 1 (due to November 20, 8 pm)  

Topic 5. Financing Decisions and Cost of Capital.

Class 5.
  November 8   2.45 p.m. – 6.00 p.m.   Room 403 In-class assignment: Quiz 2 (15 min) Key points:   — Cost of equity capital — Cost of debt — Weighted average cost of capital (WACC) — Approaches to cost of capital estimation — Factors affecting WACC Learning outcomes: Students should be able to — Understand the concept of WACC — Calculate the cost of debt and equity — Apply WACC concept to estimation of companies’ cost of capital Assignments for class 7: Reading: — BE: ch. 10, 11  
Class 6.
  November 11   9 a.m. – 12.15 p.m.   Room 403   In-class assignment: Group assignment 1 Raising Capital Case Study ( held byCitibank top-managers) Key points: — The role facilitators play within the business area, the links with Sales & Trading, Investment Bank and the Capital Raising options — Loans, bonds, equity as instruments of company’s bridge financing — Block-trade exercise   Learning outcomes: Students should be able to — understand how and why banks make recommendations to clients in different market situations, based around their understanding of the company and the market In-class group assignment 1: Based on the capital markets case discussion: make a summary on the preferences and market conditions of raising capital by large international company: loans, bonds, equity.   Preparation for group assignment 2 (class 8): IPO discussion, based on Genset IPO case.

Topic 6. Long-term Financial Decisions: Investment Valuation.

Class 7.
  November 19   1 p.m. – 4.15 p.m.   Room 209   In-class assignments: Test 2 (topics 3,4,5)   Key points: — Overview of capital budgeting decisions — Investment decision criteria: Net present value, Internal rate of return (to be cont.) — Multiple IRRs, MIRR, Profitability index, Payback period — Forecasting investment projects cash flows     Learning outcomes: Students should be able to — Apply capital budgeting concept and criteria to investment decisions — Apply capital budgeting concept and criteria to investment decisions — Identify and calculate cash flows relevant to investment projects   Assignments for class 8: Reading: — BE: ch. 3, 12  

Topic 7. Financial Statements Analysis and Corporate Valuation.

Class 8.
  November 26   1 p.m.- 4.15 p.m.   Room 403 In-class assignment: IPO group discussion, based on Genset case. Key points: — Factors that impact IPO decisions — Estimation of IPO price range — Standardized financial statements — Ratio analysis — Du Pont system — Limitations of ratio analysis   Learning outcomes: Students should be able to — Know how to calculate and interpret important financial ratios — Know the determinants of a firm’s profitability and growth Assignments for class 9: Reading: — BE: ch. 3, 12   Group project – Part 2 (due to December 14, 8 pm)  

Topic 7. Financial Statements Analysis and Corporate Valuation (cont.).

Class 9.
  December 3   1 p.m.- 4.15 p.m.   Room 410   In-class assignment: Quiz 3 (15 min) Key points: — Using financial statement information — Corporate valuation model   Learning outcomes: Students should be able to — Understand the problems and pitfalls in financial statement analysis — Apply valuation model to valuing companies Assignments for class 10: Reading: — BE: ch. 14, 15    

Topic 8. Capital Structure and Dividend Policy.

Class 10.
  December 10   2.45 p.m. – 6.00 p.m.   Room 410   In-class assignments: Test 3 (topics 6,7) Key points: — Capital structure theories and practice — Capital structure and company’s value — Financial leverage and financial risk — Cash distributions and dividend policy — Stock splits and stock dividends   Learning outcomes: Students should be able to — Analyze company’s capital structure decisions — Link capital structure to company’s value — Analyze dividend policy and factors that impact dividends payments decisions Assignments for class 11: Preparation for the presentation of the group project.  
Class 11.Group Project Presentations.
December 17   12.15 p.m.- 4.15 p.m.   Room 209 In-class assignments:   Group project – part 3: Group presentation    

Office hours for individual consultations (also available by appointment):

Volkhovsky per., 3, room 403, 209, 410 5 pm-6.30 pm Осtober 8 October 15 October 22 October 30 November 6 November 12 November 19 November 26 December 3 December 9 December 18  






Дата добавления: 2015-09-07; просмотров: 352. Нарушение авторских прав; Мы поможем в написании вашей работы!



Важнейшие способы обработки и анализа рядов динамики Не во всех случаях эмпирические данные рядов динамики позволяют определить тенденцию изменения явления во времени...

ТЕОРЕТИЧЕСКАЯ МЕХАНИКА Статика является частью теоретической механики, изучающей условия, при ко­торых тело находится под действием заданной системы сил...

Теория усилителей. Схема Основная масса современных аналоговых и аналого-цифровых электронных устройств выполняется на специализированных микросхемах...

Логические цифровые микросхемы Более сложные элементы цифровой схемотехники (триггеры, мультиплексоры, декодеры и т.д.) не имеют...

Характерные черты официально-делового стиля Наиболее характерными чертами официально-делового стиля являются: • лаконичность...

Этапы и алгоритм решения педагогической задачи Технология решения педагогической задачи, так же как и любая другая педагогическая технология должна соответствовать критериям концептуальности, системности, эффективности и воспроизводимости...

Понятие и структура педагогической техники Педагогическая техника представляет собой важнейший инструмент педагогической технологии, поскольку обеспечивает учителю и воспитателю возможность добиться гармонии между содержанием профессиональной деятельности и ее внешним проявлением...

Виды и жанры театрализованных представлений   Проживание бронируется и оплачивается слушателями самостоятельно...

Что происходит при встрече с близнецовым пламенем   Если встреча с родственной душой может произойти достаточно спокойно – то встреча с близнецовым пламенем всегда подобна вспышке...

Реостаты и резисторы силовой цепи. Реостаты и резисторы силовой цепи. Резисторы и реостаты предназначены для ограничения тока в электрических цепях. В зависимости от назначения различают пусковые...

Studopedia.info - Студопедия - 2014-2024 год . (0.012 сек.) русская версия | украинская версия