Bachelor
2021/2022
Corporate Finance
Category 'Best Course for Career Development'
Category 'Best Course for Broadening Horizons and Diversity of Knowledge and Skills'
Category 'Best Course for New Knowledge and Skills'
Type:
Elective course (Economics and Statistics)
Area of studies:
Economics
Delivered by:
School of Finance
Where:
Faculty of Economic Sciences
When:
3 year, 3 module
Mode of studies:
offline
Open to:
students of all HSE University campuses
Instructors:
Irina Ivashkovskaya,
Ella Khromova (Fokina),
Pavel Malyshev,
Evgenia Mikova,
Yulia Ovanesova,
Nikita Pirogov,
Veronika Vinogradova
Language:
English
ECTS credits:
3
Contact hours:
40
Course Syllabus
Abstract
The course develops theoretical framework for understanding and analysing major financial problems of a corporation operating in market environment. The course covers capital budgeting issues, capital structure theory, payout policy, risk management discussions and M&A motives. The course is based on lectures, classes, groupwork and self-study.
Learning Objectives
- Understand and apply principles of modern financial analysis
- Be able to discuss different stakeholders’ goals as a source of agency conflicts
- Understand and apply capital budgeting techniques when making investment decisions
- Be able to discuss the logic of capital structure decisions and understand how market imperfections influence capital structure decisions
- Understand corporate payout decisions and be able to discuss market reaction to dividend payout
- Be able to discuss logic of risk management decisions and sources to increase company value
- Be able to discuss M&A motives and value creation via restructuring
Course Contents
- Introduction: Modern Company and Its Environment
- Investment decisions: Capital Budgeting
- Capital Structure Choice and Corporate Value
- Agency Cost and Asymmetric Information
- Payout Policy
- Interrelation of Financing and Investment Decisions
- Valuation and Risk Management Policy
- M&A and Corporate Restructuring
- Group project presentations
Bibliography
Recommended Core Bibliography
- Principles of Corporate Finance, 11th global ed., XXVIII, 889 p., AP 1-10, Gl 1-18, I 1-25, Brealey, R. A., Myers, S. C., Allen, F., 2014
Recommended Additional Bibliography
- Study Guide to Accompany Brealey and Myers "Principles of Corporate Finance, 4th ed.", D'Ambrosio, C. A., 1991