Международные финансы (продвинутый уровень)

Магистратура 2021/2022

Лучший по критерию «Полезность курса для Вашей будущей карьеры»

Лучший по критерию «Полезность курса для расширения кругозора и разностороннего развития»

Статус: Курс по выбору (Международный бизнес)

Направление: 38.04.02. Менеджмент

Кто читает: Магистерская программа "Международный бизнес", направление подготовки "Менеджмент"

Где читается: Факультет мировой экономики и мировой политики

Когда читается: 2-й курс, 1, 2 модуль

Формат изучения: без онлайн-курса

Охват аудитории: для своего кампуса

Преподаватели: Кратко Ирина Геннадиевна

Прогр. обучения: Международный бизнес

Язык: английский

Кредиты: 4

Контактные часы: 40

Full Syllabus

Abstract

The course syllabus sets minimal requirements for student’s knowledge and skills and determines the content and forms of study and performance evaluation. International Finance (Advanced) is a second and advanced step in studying and exploring the principles of corporate financial management in multinational corporations. Prior to attending to the course, it is compulsory to attend International Corporate Finance and Introduction to Financial and Managerial Accounting with minimum score of 50 out 100 in both disciplines. The syllabus is developed according to the standard educational requirements of the Federal State Autonomous Educational Institution of Higher Education «National Research University «Higher School of Economics» (HSE) for the Degree code 38.04.02 Management. Pre-requisites: Introduction to Financial and Managerial Accounting, International Corporate Finance.

Learning Objectives

To provide students with the advanced understanding of principles of financial management in multinational corporations and the role of financial manager in a multinational corporation
To describe the concepts of key risks of the multinational corporation. Country risks, macroeconomic risks, currency / exchange rate risks, industry specific risks. Risk management in corporations and insurance. Special focus on currency risks and their mitigation tools. Translation risks and transaction risks, hedging instruments and policies. Commodities cost exposures and related hedging policies. Application of options in corporate finance
Advanced analysis of financial statements. Concepts of organic growth and adjusted earnings. Reconciliation of organic and reported growth, adjusted and reported earnings. Consolidation of financial statements in different currencies. Asset valuation and impairment concepts. Business analysis, consumption drivers analysis in connection to financial statements
Advanced study of the key sources of value creation in multinational corporations. BCG matrix in product portfolio analysis. Focus on mergers and acquisitions as value creation activities. Internal drivers of growth and value creation. To introduce students to real cases of acquisitions with detailed analysis of value creation drivers
Long-term financing decisions. Raising equity capital, venture capital participation, joint ventures, going to IPO. Debt financing, bank loans and syndicated credits, convertible bonds, foreign currency bonds. Capital structure and payout policy.

Expected Learning Outcomes

know the definition of public corporations
learn how to do the advanced analysis of financial statements

Course Contents

International (multinational) public corporations
Risk management
Currency risks and mitigation policies and tools
Advanced analysis of financial statements
Business analysis
Value creation
Mergers & acquisitions
Cost of equity capital
Capital structure and long-term financing decisions

Assessment Elements

Final exam
Intermediary test
Class participation
Cases
Final exam
Intermediary test
Class participation
Cases

Interim Assessment

2021/2022 2nd module
0.2 * Intermediary test + 0.3 * Class participation + 0.2 * Cases + 0.3 * Final exam

Bibliography

Recommended Core Bibliography

Berk, J. B., & DeMarzo, P. M. (2014). Corporate Finance: The Core, Global Edition (Vol. Third edition). Boston: Pearson. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1417990
Corporate Finance : Theory and Practice Vernimmen, Pierre; Quiry, Pascal;and more John Wiley & Sons, Incorporated 2014 ISBN: ISBN number:9781118849330, ISBN number:9781118849323

Recommended Additional Bibliography

Advances in Mergers and Acquisitions Cooper, Cary L.; Finkelstein, Sydney Emerald Publishing Limited 2015 ISBN: ISBN number:9781785600913, ISBN number:9781785600906 SERIES: Advances in Mergers and Acquisitions Ser.

Course Syllabus