Corporate Finance

2021/2022

Учебный год

ENG

Обучение ведется на английском языке

3

Кредиты

Кто читает:

Школа финансов

Статус:

Курс адаптационный

Когда читается:

1-й курс, 1 модуль

Преподаватель

Пирогов Никита Константинович

Course Syllabus

Abstract

The course develops theoretical framework for understanding and analysing major financial problems of modern company in market environment. The course covers basic models of valuation of corporate capital, including pricing models for primary financial assets, real assets valuation and investment projects analysis, capital structure and various types of corporate capital employed, derivative assets and contingent claims on assets. It provides necessary knowledge in evaluating different management decisions and its influence on corporate performance and value. The course requires the knowledge in micro and macroeconomics, accounting and banking. The course is based on lectures, seminars and self-study. Ссылка на онлайн-программу: https://ru.coursera.org/learn/wharton-finance

Learning Objectives

• To provide the conceptual background for corporate financial analysis from the point of corporate value creation
• To develop theoretical framework for understanding and analyzing major financial problems of modern firm in the market environment
• To cover basic models of corporate capital valuation, including pricing models for primary financial assets, real assets valuation and investment projects analysis, capital structure, derivative assets and contingent claims on assets
• Developing skills in analyzing corporate behavior in capital markets and the relationship of agent and principal in raising funds, allocating capital, distributing returns
• To provide necessary knowledge in evaluating different management decisions and their influence on corporate performance and value

Expected Learning Outcomes

• A student is able to apply different models to value company’s assets and capital (ПК-17) – exercises
• A student is able to generalize and discuss the results of theoretical and empirical studies and to reveal the possible directions for further research in examined area (ПК-1) – work with academic papers
• A student is able to justify the efficiency of company’s strategic decisions (investment decisions, financing decisions, payout decisions) and make recommendations (ПК-20; ПК-25) – analytical tasks.
• A student is able to reveal and analyse factors affecting company value (ПК-14) – exercises
• A student is willing to present the results of team work devoted to a particular theme (ПК-8) –cases, problem solving
• A student is willing to work with information from a variety of sources (CК- 6) – cases, analytical tasks devoted to business valuation based on the data from financial statements and financial data from open access

Course Contents

• Corporate finance: Introduction
• Calculation and interpretation of accounting ratios and trends.
• Risk and return: from asset pricing models to cost of capital.
• Fundamentals of Equity and Debt valuation
• Capital structure choice and corporate value
• Interrelation of financing and investment decisions
• Payout policy and corporate value

Assessment Elements

• Class Participation
• Final exam

Interim Assessment

• 2021/2022 1st module
  0.7 * Final exam + 0.3 * Class Participation

Bibliography

Recommended Core Bibliography

• Corporate finance, Berk, J., 2014
• Principles of corporate finance, Brealey, R. A., 1996

Recommended Additional Bibliography

• Financial theory and corporate policy, Copeland, T. E., 2005