...FI 8320, Spring 2005 Cases and Readings in Corporate Finance [pic] [pic] [pic] [pic] Instructor Professor David C. Nachman Office: RCB 1239 Phone: 651-1696 email: dnachman@gsu.edu Office Hours: W 10:00 am – 2:00 pm, or by appointment Prerequisites FI 8000 CSP: 1, 2, 6 Course Description This course focuses on financial policy-making through case analyses, contemporary readings from the professional literature, and problem solving. The emphasis in the course is on investment and financing decisions and their impact on firm value and on capital market imperfections and their impact on the raising of corporate capital. The course also provides an opportunity for the study of additional topics of special current significance such as capital structure and dividend policy, corporate restructuring and the market for corporate control, real options, risk management, international capital budgeting and financing, financial planning and working capital management, project financing, reorganizations and advanced equity valuation. Course Material Required text material • (BMA) R. A. Brealey, S. C. Myers and F. Allen, Principles of Corporate Finance, 8th ed., McGraw- Hill/Irwin, Inc., 2006. •(RP) Reading Packet •(CP) Case Packet The required text (BMA) and the materials that make up the Case Packet (CP) are available at the GSU Book Store. The Reading Packet (RP) is available at ERes. Contents of (CP) and (RP) (with ERes access instructions) follow...
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...FI 4320, Spring 2005 Cases and Readings in Corporate Finance [pic] [pic] [pic] [pic] Instructor Professor David C. Nachman Office: RCB 1239 Phone: 651-1696 email: dnachman@gsu.edu Office Hours: W 10:00 am – 2:00 pm, or by appointment Prerequisites FI 4000 CSP: 1, 2, 4, 6 Course Description This course focuses on financial policy-making through case analyses, contemporary readings from the professional literature, and problem solving. The emphasis in the course is on investment and financing decisions and their impact on firm value and on capital market imperfections and their impact on the raising of corporate capital. The course also provides an opportunity for the study of additional topics of special current significance such as capital structure and dividend policy, corporate restructuring and the market for corporate control, real options, risk management, international capital budgeting and financing, financial planning and working capital management, project financing, reorganizations and advanced equity valuation. Course Material Required text material • (BMA) R. A. Brealey, S. C. Myers and F. Allen, Principles of Corporate Finance, 8th ed., McGraw- Hill/Irwin, Inc., 2006. •(RP) Reading Packet •(CP) Case Packet The required text (BMA) and the materials that make up the Case Packet (CP) are available at the GSU Book Store. The Reading Packet (RP) is available at ERes. Contents of (CP) and (RP) (with ERes access instructions)...
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...SUFFOLK UNIVERSITY SCHOOL OF MANAGEMENT Graduate Programs in Finance Fall Quarter, 2011 FIN MF 820 Financial Policy Thursdays: 7:15-9:55 Instructor: Dr. Shahriar Khaksari, CFA Office: S432 Phone: 573-8366 Email: skhaksari@suffolk.edu The New Corporate Finance: Where Theory Meets Practice Mcgraw-Hill Series in Advanced Topics in Finance and Accounting Course Objective This course is designed to allow students to develop a deep understanding of financial theories, techniques, and models applied to the study of corporate financial decisions. It covers aspects of corporate strategy, industry structure, and the functioning of capital markets. The course consists of three segments. In the first segment, students do a comprehensive analysis of the assigned cases and prepare a written report that includes identification of major issues, alternative approaches, analysis of each alternative, and a concluding part in which students take a clear cut position in how they would approach the problem as a decision maker and defending their position. The Case study is done by groups (three to four students per group). The text analysis should not exceed five pages. It should be typed and double-spaced. A lengthy summary of the case is unnecessary and redundant. The space constraint should discipline students to be concise at differentiating major issues from the less important ones. All the tables, graphs and related...
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...University of Puget Sound School of Business and Leadership BUS 435 International Finance Professor Alva Wright Butcher Tues & Thurs 12:30-13:50 McIntyre 107 Spring Semester 2013 Office: McIntyre 111 I Office Hours: Phone: 253-879-3349 Tues and Thurs 2:00-3:00 FAX: 253-879-3156 Wed 9:30-10:30 And by appointment Note that I am always willing to schedule additional office hours by appointment. I check email frequently, so that is also a good way to communicate. If I do not respond to your email message, that means I did not receive it. Please send it again. Email: butcher@ups.edu Required Course Materials Text: Madura, International Financial Management, Abridged 10th Edition, South-Western, 2011 Book: Lewis Michael, Boomerang: Travels in the New Third World, Norton, 2011 Calculator: A calculator is required. A financial calculator would be preferable, as it would have functions for bond valuation, net present valuation (NPV), internal rate of return (IRR), present value (PV), and future value (FV). A suitable calculator, the HP10-B, is available in the bookstore for about $30. Harvard Business School Cases https://cb.hbsp.harvard.edu/cbmp/access/17920074 The above is the URL for Harvard Business School so that you can obtain discounted student pricing for the cases: Group Ariel S.S.: Parity Conditions and Cross-Border...
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...International Finance: A Course Overview Mihir A. Desai* Harvard University and NBER ABSTRACT This paper describes the International Finance course at Harvard Business School for instructors considering adopting the associated material. The paper begins by arguing that the forces of globalization have fundamentally changed the scope and activities of firms thereby altering the practice of finance within these firms. As a consequence of an increasing reliance on tightly-integrated foreign operations, a parallel world of finance has been opened within every multinational firm and this world has, heretofore, been overlooked. The course materials are designed to address the many aspects of financial decision making within global firms prompted by these changes that are not addressed in traditional materials. The paper provides an overview of the structure of the course and its seven modules with particular emphasis on the three modules that constitute the core of the course. The paper also describes an analytical framework that has been developed through the creation of the course materials to guide critical financial decisions on financing, investment, risk management and incentive management within a multinational firm. This framework emphasizes the need to reconcile conflicting forces in order for multinational firms to gain competitive advantage from their internal capital markets. The paper concludes with a discussion of the course's pedagogical approach and detailed descriptions...
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...Continuing and Professional Studies Fundamentals of Corporate Finance New York University School of Continuing & Professional Studies Course #X51.9140 Spring 2011 James Berman 212.388.9873 jberman@jbglobal.com Description: In this introduction to corporate finance, emphasis is on utilizing long-term debt, preferred stock, common stock, and convertibles in the financial structure of a corporation. Learn to analyze methods of financing using internal and external funds. Topics include: financial management; corporate growth; business failures; return on investment; risk leverage; the time value of money; dividend policy; debt policy; and leasing. Instructor Biography: James Berman, the president and founder of JBGlobal.com LLC, a Registered Investment Advisory Firm, specializes in asset management for high-net-worth individuals and trusts. With over thirteen years of experience managing client portfolios, Mr. Berman is a professional analyst of financial vehicles, including equity and bond mutual funds, and is an expert in global investment, asset allocation and modern portfolio theory. As the president of JBGlobal LLC, the general partner of the JBGlobal Fund LP, Mr. Berman manages a global equities fund that invests in the United States, Europe and Asia. Mr. Berman is a faculty member in the Finance Department of the NYU School of Continuing and Professional Studies where he teaches corporate finance. He serves as sub-advisor to Eitan Ventures LLC, a venture...
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...Core text Ch. 3 (pp. 60-84) c. Week 5a: - Core Text Ch. 13 pages 402-405 d. Week 7ab: - Core text Ch.14 (pp.433-438) - Core text (2008) pp. 13-15 and 60-61 e. Week 9ab: - Core text Ch. 14 & 15 - Core text Ch 16 pp.482-504 f. Week 11: - Core Text, Chapter 19, Pages 592-606 II. Other Book: a. Week 3a3b: - Read Moffet, M., Stonehill, A. & Eiteman, D. (2006) Fundamentals of Multinational Finance, Chapter 11, 12 & 13. - Deutsche Banks Global Registered Shares (pp.332-333). - Tirstup Biomechanics (Denmark): Raising Dollar Debt (pp.357-359) b. Week 5b - Sanyal (2001). International Management: A Strategic Perspective (Prentice Hall), Ch.2, pp.66-77 c. Week 6ab: - Read Moffet, M., Stonehill, A. & Eiteman, D. (2006) Fundamentals of Multinational Finance, Chapter 20 & Read Stanley Works & Corporate Inversion (pages 541-545) d. Week 7a 7b: - Moffat, Stonehill & Eiteman (2006). Fundamentals of Multinational Finance, Ch.19 - Gardner & Weirich (1992). Business Investigations: How CFOs can manage risk through information, Journal of Corporate Accounting & Finance, Vol.10, Issue 1, (pp.129-139). - Madura & Fox (2007). International Financial Management, Ch. 19, pp.652, 659-661 e. Week 8a : - Chetty, S. & Campbell-Hunt, C. (2004) ‘A Strategic Approach to Internationalization: A Traditional Versus a “Born-Global” Approach’, Journal of International Marketing, 12 (1), pp. 57-81. - Knight, G. A. (2001) ‘Entrepreneurship and strategy in the international SME’...
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...B2GLOBAL PROGRAMME BTEC LEVEL 5 HND DIPLOMA IN BUSINESS UNIT SYLLABUS |Assignment Due: | |. Assignment 1: Slot 10 | |. Assignment 2: Slot 38 | |The student must pass these Assignments to pass the course | |Unit Title: |Business Strategy | |Unit Code |A/601/0796 | |QCF level |5 | |Credit value |15 credits | |Pre-requisite | | |Instructor | ...
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...maintain Stryker’s 20% growth benchmark. To what extent have they been shaped by elements of corporate finance theory? They are heavily influenced by corporate finance theory * All submissions are required to show the net present value (NPV), internal rate of return (IRR) and payback period. * They need to highlight the project’s anticipated outgoing cash flow and earnings effects on the company and describe specific risks that could affect the projects abitily to deliver projects economic results. * Specifically for mergers the CER would include financial analyses of “Best Case” and “Worst Case” scenarios which would include income and cash flow figures. To what extent are they shaped by Stryker’s particular industry, history, and culture? These factors play a role in shaping the CERs and capital budgeting: * Industry: With a growth in the medical industry and an aging baby boomer population Stryker would naturally see a growth. However to continue to achieve this growth a steady or increased rate they would need to establish a method (in this case CERs and capital budgeting process) to make the best financially decisions and keep the company moving on its current growth path. * History: Their business history shows that in the 1970s when John Brown took over a CEO and set ambitious growth targets that were met through invention, of their corporate slogan “20% growth forever!” That trend continued over the following decades and to maintain that...
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...CORPORATE FINANCE EXERCISE SESSION I: REVIEW ANSWER CHAPTER 1. INTRODUCTION TO CF: 1. What are the nature and the objective corporate finance? * Corporate finance: any financial or monetary activity that deals with a company and its money. * Objective: maximize the profits, increase liquidity, enhance competition ability 2. Describe the financial relationships in a company. Shareholders are considered partial owners of an organization, although business owners retain majority ownership. Employees work for companies and receive wages for their job performance, but do not own any part of the company unless they purchase stock or acquire it through benefits. (Shareholder Rights When investors buy shares of a company’s stock, they acquire ownership rights to the organization. However, shareholder ownership rights are usually limited. A corporation’s bylaws outline the specific rights of shareholders. In most cases, shareholders acquire rights to vote in members of a corporation’s board of directors, and to vote on certain issues that impact the organization. The voting power of shareholders is dependent on the number of individual shares owned. Shareholders possess certain rights to a company’s assets and dividends. If a company goes bankrupt, a bankruptcy court may award shareholders the rights to receive money from the liquidation of the company’s assets. Importance of Shareholders Companies depend on shareholders to buy their stocks to raise money for...
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...and financing decisions, and discuss leasing, off-balance sheet financing, and synthetic leases, and will review finance terms important in this case. Prepare any questions you may need answered to complete your analysis for that class. Exhibits 1, 2, 3, 5, and 7 are available in an Excel spreadsheet on the website (if you downloaded the spreadsheet before 8:00pm Friday, I added Exhibit 7 then). This case concerns financing large investments in capital assets in a short period of time for strategic reasons. According to Modigliani and Miller, with efficient markets and no corporate taxation, firms should be able to raise all funds necessary to finance positive net present value projects and, further, the firm’s capital structure (or off-balance financing structures) should not affect the firm’s weighted-average cost of capital (WACC) or the availability of credit. This case is particularly interesting because the synthetic leases that are the focus of the case, resulting in special-purpose entities (SPEs) and off-balance sheet financing, are exactly those financing techniques which got Enron and other firms into so much trouble recently. After achieving a basic command of the facts of the case, I strongly recommend reading case Appendix 1 and studying case Appendix 2 covering the tax and accounting aspects of leasing. Ross, Westerfield, and Jaffe, Corporate Finance, Chapter 21, provides an overview of leasing and could provide a reference for lease-related terms but I think...
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...FACCT604A Monitor Corporate Governance Activities Research Project Semester 1 2007 Introduction The Directors of Expand P/L are about to make the transition from a large company to a public one. They are aware of recent developments in corporate governance and directors liabilities. They have asked you to provide advice on corporate governance aspects and to act as a consultant during the period of transition. You decide to use the corporate governance toolkit as the basis for your research. a) Overview: 1. What are the basic principles of corporate governance? • Transparency: Are the board telling us what is going on? • Accountability: Is the board taking responsibility? • Corporate Control: Is the board doing the right thing? 2. What mechanisms are suggested by the ASX corporate Governance Council? Relating to the three principles stated in the last question. The ASX Corporate Governance Council translates the elements into mechanisms: • Is the board telling us what is going on? →forming an environment to take risk. • Is the board taking responsibility? →clarifying the role of the board and management. • Is the board doing the right thing? →Meeting information needs of investment communities. 3. What is an SME? SME stands for Small and Medium Enterprises. 4. What processes would you expect to find in a company relating to risk management and compliance...
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...know and we will arrange a mutually satisfactory time. For some students, telephone “meetings” are easier. To this end, you may call me at reasonable hours (i.e., before 10:00 p.m.). NOTE: It is the student’s responsibility to read, understand and abide by all of the course information and policies listed below. Failure to do so could result in you failing this course or being withdrawn from this course by your instructor, School of Business Dean’s Office or by the Graduate Studies Department. The course syllabus provides a general plan for the course; deviations may be necessary. COURSE PREREQUISITE: All MBA Foundations classes must be completed or waived before enrollment in FIN 611. REQUIRED MATERIALS: 1. Textbook – Corporate Finance: The Core, by J. Berk and P. DeMarzo, published by Prentice Hall, ISBN (10‐digit) 0132153688. Available in loose leaf (3‐ring) format in the U Tampa bookstore. Textbook are also available as an e‐book from coursesmart: 1 Revised 08/21/2012 2. Cases and readings: available from www.study.net – available by 8/27/12 3. Additional files and readings will be distributed via Blackboard 4. Calculator - A financial calculator is required for this class. A Hewlett Packard 10B or a Texas Instruments BAII+ is ideal. Other brands/models may also suffice. Bring your calculator to class every day. Be sure you know how to use it. 5. Laptop computer – Many students find it useful to use their laptop computer during class. This is not...
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... 10-12 7. RISK MANAGEMENT ARCHITECTURE 12-15 8. RISK AWARE CULTURE 15-17 9. ISO 31000 APPLICATION IN CHOPPIES ENTERPRISES LTD 17-18 10. RECOMMENDATIONS 18 11. CONCLUSION 18 12. References 19-20 Terms of Reference This report strives to evaluate the effectiveness of Choppies Enterprises Limited ERM, using the ISO 31000 Risk Management framework as a standard, documenting the findings and making appropriate recommendations. The main tasks are to: 1. Explain the importance of a risk management policy, and outline a proposed policy that complies with ISO 31000 guidelines that would be suitable for our organization. 2. Document the risk management architecture of our organization, clearly showing the roles and accountabilities of each of the key parties, and making...
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...BPP Business School Finance Department Financing Entrepreneurial Initiatives Module Outline 1. Module Details It is a Level 7 (Master’s Level) elective module with 15 credits. As a pre-requisite students need to have taken Financial Statement Analysis or an equivalent Accounting course. There will be 10 sessions, 3 hours each every week. Tim Wiscarson will teach the course. 2. Aims and Objectives The course aims to provide students with a strong foundation in evaluating different business models and opportunities and understand the various ways unlisted companies can be built and listed. It is designed to expose the student to many different kinds of situations involving a critical evaluation of the business, for the purpose of determining its value and for seeking financing. It shows how the various financing and investment activities can have an impact on the structure, operations as well as the future of the business. 3. Syllabus 1. Outline The module aims to provide the students with an overview of analysis and valuation of different business models and entrepreneurial opportunities. It introduces different types and sources of financing and the various elements involved from both the management as well as the investor point. It aims to develop the students’ skills in addressing financing and investment issues within an entrepreneurial company and understand how to approach the market investors. As such it targets to enhance...
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