• A
  • A
  • A
  • ABC
  • ABC
  • ABC
  • А
  • А
  • А
  • А
  • А
Regular version of the site
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
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

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

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
Assessment Elements

Assessment Elements

  • non-blocking Quiz
  • non-blocking Group Project
  • non-blocking Mid-Term Test
  • non-blocking Final Exam
Interim Assessment

Interim Assessment

  • 2021/2022 3rd module
Bibliography

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