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| FINA0065-1 | Advanced Corporate Finance and Modeling
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| Duration : | 30h Th |
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| Number of credits : |
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| Lecturer : | Marie Lambert |
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Language(s) of instruction :
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| English language |
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Organisation and examination :
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| Teaching in the second semester |
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Course contents :
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| The objective of the course of "Advanced Corporate Finance and Modeling" is to provide for students an opportunity to develop a thorough understanding of how financing and investing decisions as well as the firm's dividend policy could affect the market value of the firm. The course will apply, in real world situations, the advanced techniques developed in corporate finance.
The course is structured in three parts.
Part I: Advanced techniques in firm valuation
The first part reviews the basics of firm valuation as well as advanced techniques like the Merton's firm value model, the use of real options to value a start-up, and finally relative valuation techniques.
Part II: Corporate decisions and market value of the firm
The second part analyzes the impact of corporate decisions on the market value of the firm. It covers advanced techniques in capital budgeting, advanced topics in capital structure (wealth transfers) as well as the impact of the firm's dividend policy on its stock price. In this part, we also analyze how the behaviours of bondholders, shareholders and managers interrelate and affect the value of the firm (agency costs of debt and equity).
Part III: Special corporate events
The last part of the course is devoted to special corporate events like mergers and acquisitions and financial distress. |
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Learning outcomes of the course :
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| Theoretical tools of a corporate manager, application in real world situations (case studies) of the advanced techniques developed in the course
Intended Learning Outcomes addressed by the courses :
- Strengthening knowledge and understanding of basic management disciplines in order to use them to perform a rigorous analysis of a management situation and provide pertinent solutions
- Gaining the knowledge and understanding of one of the following fields: supply chain management, financial engineering, performance management systems or intrapreneuriat; being able to mobilize them in order to solve concrete management problems or cases
- Ability to speak 2 foreign languages: C1 in English and B2 in one other language
- Capacity to research autonomously and methodically the information needed to solve a complex, transversal management problem, to perform a rigorous analysis of it and to suggest pertinent solutions
- Understanding and being capable of using modelization methods when seeking a solution for a concrete management problem
- Being capable of professional team work
- Developing a critical sense (arguing)
- Creative conception of solutions
- Professional capacity for oral communication
- Professional capacity for written communication
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Prerequisites and co-requisites/ Recommended optional programme components :
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| Corporate finance |
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Planned learning activities and teaching methods :
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| Lectures and case studies |
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Mode of delivery (face-to-face ; distance-learning) :
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Recommended or required readings :
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| - Ross, Westerfield and Jaffe (eighth edition), Corporate Finance, McGraw-Hill
- Grinblatt and Titman, Financial Markets and Corporate Strategy, McGraw-Hill, International Edition |
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Assessment methods and criteria :
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| - Collective work : case studies and presentations (50% of the final mark)
- Class participation (25%)
- Final exam (25%)
Relative weighting of individual assessment : 50% |
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Work placement(s) :
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Organizational remarks :
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Contacts :
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| Marie Lambert - marie.lambert@ulg.ac.be |
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