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APPLIED CORPORATE FINANCE

2017-2018

IESEG School of Management ( IÉSEG )

Code Cours :

1718-IÉSEG-BB3S1-FIN-BB3CE01UE

FINANCE


Niveau Année de formation Période Langue d'enseignement 
Bachelor in International Business3S1English
Professeur(s) responsable(s)J.LEFEBVRE
Intervenant(s)Alix MANDRON


Pré requis

Basic knowledge of each financial statement's main contents and purpose, knowledge of basic financial ratios
Basic financial mathematics (compounding and discounting)
Some knowledge of traditional securities (main characteristics of stocks and bonds)

Objectifs du cours

At the end of the course, the student should be able to:
Identify the information relevant to the financial analysis a project, apply the main valuation tools to a project, discuss the main sources of risk and their impact on the cost of capital of a project, identify the actual financing policy of a company, explain the different elements relevant to the determination of an optimal capital structure, explain the effect of distribution policy on stock prices.

Contenu du cours

- Investment decisions (4 weeks): decision rules (NPV, IRR, payback period), relevant cash flow computation, risk and the discount rate, difficulties associated with international projects, exercises and cases.
- Financing and the cost of capital: the impact of debt on the risk and cost of equity, observing financing on the cash flow statement, measuring the capital structure, real life examples in an international context.
- Is there an optimal capital structure? (2 weeks): securities as a risk-sharing device, the cost of capital in perfect markets, the impact of taxes, financial distress costs and other costs, exercises.
- Distributions to shareholders: dividends, buy-backs, real life examples.
- Oral presentations and wrap-up.


Modalités d'enseignement

Organisation du cours

TypeNombre d'heuresRemarques
Face to face
lecture10,00  
Interactive class14,00  
Independent study
Estimated personal workload26,00  
Group Project22,00  
Charge de travail globale de l'étudiant72,00  

Méthodes pédagogiques

  • Presentation
  • Project work
  • Interactive class


Évaluation

The syllabus and the assignment instructions will be posted on-line. Other must-read documents might also be posted. The students will have to visit the websites of the companies chosen for their projects..

Type de ContrôleDuréeNombrePondération
Continuous assessment
Mid-term exam1,00115,00
Final Exam
Written exam2,00130,00
Others
Group Project22,00225,00
Case study4,00225,00
presentation
statement0,2515,00
TOTAL     100,00

Bibliographie

  • Vernimmen, Quiry, Dallocchio, Le Fur, Salvi: Corporate Finance: Theory and Practice, 4th edition 2014, or later edition if any, Wiley and Sons.. - -


Ressources internet



 
* Informations non contractuelles et pouvant être soumises à modification
 
 
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