Corporate Finance

Instructor: Joy Chan
Course ID: RE6016

Corporate Finance

Instructor: Joy Chan Course ID: RE6016

Financial managers make important decisions every day that affect the finances of companies, both large and small. All business people need to be able to interpret and relate data accurately from financial instruments and other market sources in order to make smart financial decisions. This course will help you understand accepted conventions, financial principles, and techniques used in the manufacturing, merchandising, and service industries. Real world examples will engage your problem-solving skills while lectures and seminars teach you the fundamentals of Corporate Finance. Along the way, you’ll gain an appreciation for the corporate decision-making process that will help you make informed choices that will benefit your business.

Key Outcomes

  • Identify agency problems within a corporation and formulate strategies to address them
  • Describe the principles and techniques of corporate finance relating to investing, financing and net working capital decisions faced by companies
  • Examine and discuss the challenges of issues relating to social responsibility, corporate governance and ethical and professional behavior arising from the recent financial scandals.
  • Calculate the value of fixed income and equity securities using various valuation methodologies
  • Analyse a company’s financial position using various financial ratios calculated from financial statements
  • Grasp concepts of risk and returns in portfolio diversification and creation
  • Apply time value money concepts to identify and evaluate financial choices they make as well as understand the consequences of their decisions in terms of opportunity costs.
  • Evaluate capital budgeting decisions using standard methodologies
  • Demonstrate an ability to use MS Excel tools in problem solving
  • Exercise powers of inquiry, logical thinking, and critical analysis of arguments and evidence.
  • Interpret and evaluate theoretical arguments and empirical evidence
  • Present their arguments or findings, persuade fellow students of the usefulness of their own conclusions and objectively critique findings presented by their fellow students

Lectures

Lecture 1 - Introduction to Corporate Finance
•    The Corporate firm and Goals of the firm
•    Corporate securities as claims on the firm
•    Financial markets

Lecture 2 - Time value of Money
•    Present and Future values, Power of compounding
•    Multiple cashflows, Ordinary Perpetuities, Annuities
•    Loan payment and retirement calculations

Lecture 3 - Financial Statement Analysis
•    Review of financial statements
•    Financial ratios and analysis

Lecture 4 - Bond valuation
•    Bond valuation calculations
•    Bond pricing and risks

Lecture 5 - Stock valuation
•    Stock valuation calculations
•    Growth estimates, payout ratios and P/E

Lecture 6 - Capital Budgeting Techniques
•    Net Present Value
•    Other methods for valuing investments: Internal Rate of Return, Profitability Index, Payback Period

Lecture 7 - Capital Budgeting Applications
•    Incremental Cash flows
•    Baldwin Case Analysis

Lecture 8 - Risk & Return I
•    Risk-free rates and risk premiums
•    Efficient Portfolios and Diversification

Lecture 9 - Risk & Return II
•    Betas and Capital Asset Pricing Model
•    Weighted average cost of capital

Lecture 10 - Corporate Financing & Weighted Average Cost of Capital (WACC)
•    Real world considerations in capital structure
•    Trade-off theory and Pecking order theory

Lectures

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