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FINANCING STRATEGY AND CAPITAL MARKETS:THEORY AND PRACTICE

2017-2018

IESEG School of Management ( IÉSEG )

Code Cours :

1718-IÉSEG-M1S2-FIN-MA-EI56UE

FINANCE


Niveau Année de formation Période Langue d'enseignement 
Master1S2English
Professeur(s) responsable(s)J.DESSAIN
Intervenant(s)Dirk De Clercq


Pré requis

Financial Theory;
Corporate Finance Fundamentals or Capital Structure;
Strong interest for capital markets with preferably an introduction to Bloomberg

Objectifs du cours

At the end of this course, students will be able to:
(1) understand a venture’s life cycle and its associated financial needs,
(2) understand and apply how cash is built and burnt, (3) use financial statements and apply breakeven analysis for new and growing ventures, (4) understand how an entrepreneurial venture quantifies its vision of the future through long-term financial planning, (5) understand and apply the basic concepts of value and valuation, (6) understand and apply specific valuation methods used by venture capitalists, and (7) understand the importance of venture capital for new and growing ventures.

Contenu du cours

This course focuses on the key elements determining a financing strategy, with a theoretical part, then enriched with many case studies.
The introduction begins with the theoretical framework of typical capital structures and the main related theories (primarily Modigliani-Miller and various key developments thereof). The course analyses the debt-equity continuum, its main buckets and the way these buckets interacts dynamically.
The role and the characteristics of the main capital market players are examined from an issuer / fund raiser perspective.
The course examines then the raising processes of various elements of the debt-equity continuum, and the criteria and constraints for such capital / fund raising.
At the end of this course, students are expected to be able to (i) adequately assess the situation of a candidate issuer, (ii) analyze and evaluate a comprehensive financing strategy that incorporates the needs of the company, the dynamics of the capital markets and the possible role of the various players, and (iii) present the key elements of the processes to implement such strategy.


Modalités d'enseignement

Organisation du cours

TypeNombre d'heuresRemarques
Face to face
lecture16,00  
Independent work
Research5,00  
Reference manual 's readings3,00  
Independent study
Group Project6,00  
Estimated personal workload6,00  
Charge de travail globale de l'étudiant36,00  

Méthodes pédagogiques

  • Lecture
  • Presentation


Évaluation

Assessment will be based on the course participation, on a case study to be presented to the class for discussion and on a final written exam mixing exercises and theoretical questions.

Type de ContrôleDuréeNombrePondération
Continuous assessment
Participation16,00110,00
presentation
statement0,50130,00
Final Exam
Written exam3,00160,00
TOTAL     100,00


Ressources internet

  • IESEG Online

    Slides will be put on intranet during the week preceeding the course. Some nice-to-have articles will be added at the same time.



 
* Informations non contractuelles et pouvant être soumises à modification
 
 
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