European Corporate FinanceLaajuus (3 cr)
Code: YH00BV01
Credits
3 op
Teaching language
- English
Responsible person
- Shabnamjit Hundal
Objective
This course examines important issues in corporate finance in Europe from the perspective of financial managers, who are responsible for making significant financial decisions. The various contents of the course have been designed in such a way that they not only establish a logical and systematic relationship with each other, but such mutual relationship is also integrated with the strategic decision-making process of corporates functioning in the European business environment. For example topic such as assets valuation on the one hand highlighting investing side and capital structure, cost of capital and payout policy highlighting financing side not only demonstrate their mutual interactions but also convey their overall relationship with the corporate strategy in the light of several vital determinants such as tax laws, bankruptcy laws, risk management practices and managerial incentives in Europe.
This course is comprising of various topics including the concept of present value, the opportunity cost of capital, discounted cash flow analysis, valuation techniques, issues between short & long term financial management, risk and return, capital asset pricing model, capital budgeting, corporate capital structure and financing decisions, dividend policy, mergers and acquisitions (M&A), global financial management including exchange including for example exchange rate risk analysis, and issues of corporate governance and control.
In this course due importance has also been given to the core theoretical concepts related to each topic to develop intellectual discourse, creative thinking and problem-solving skills of students. The study of course contents in the light of diverse business environments enable students to understand diverse theoretical aspects and empirical studies through critical perspectives and contextualize the course contents in various scenario/settings. Similarly, there is explicit emphasis laid on the quantitative data analysis in this course.
Content
Assets valuation, Capital Structure Dynamics and Corporate Strategy, Impact of taxes on Financing Choice, Dividend policy & Share Repurchases; Bankruptcy Costs and Debt Holder-Equity Holder Conflicts; Managerial Incentives and Financial Decisions, M&As, Corporate Strategy, Risk Management (including use of financial derivatives), and Real Options.
Qualifications
Basic knowledge of Economics or any discipline of business studies.
Assessment criteria, satisfactory (1)
You will get a grade of ‘one’ if you are able to demonstrate a basic level of evidence of the following ILOs-Analytical Business Skills (IBBUS), Critical Thinking (IBCRI), Collaborative Skills (IBCOL) and Communication Skills (IBCOM).
You will get a grade of ‘two’ if you are able to demonstrate satisfactory level of evidence of in the following ILOs-Analytical Business Skills (IBBUS), Critical Thinking (IBCRI), Collaborative Skills (IBCOL) and Communication Skills (IBCOM).
Assessment criteria, good (3)
Grade 3 and 4:
You will get a grade of ‘three’ if you are able to demonstrate good level of evidence of in the following ILOs-Analytical Business Skills (IBBUS), Critical Thinking (IBCRI), Collaborative Skills (IBCOL) and Communication Skills (IBCOM) and you are able to demonstrate clearly some evidence of Ethical, Sustainable and Responsible Conduct (IBESR) and Personal Skills (IBPER).
You will get a grade of ‘four’ if you are able to demonstrate an excellent level of evidence of in the following ILOs-Analytical Business Skills (IBBUS), Critical Thinking (IBCRI), Collaborative Skills (IBCOL) and Communication Skills (IBCOM) and you are able to demonstrate significant evidence of Ethical, Sustainable and Responsible Conduct (IBESR) and Personal Skills (IBPER).
Assessment criteria, excellent (5)
Grade 5: You will get a grade of ‘five’ if you are able to demonstrate an excellent level of evidence of in the following ILOs-Analytical Business Skills (IBBUS), Critical Thinking (IBCRI), Collaborative Skills (IBCOL), Communication Skills (IBCOM), Ethical, Sustainable and Responsible Conduct (IBESR) and Personal Skills (IBPER).
Materials
Grinblatt, M. & Titman, S. Financial Markets and Corporate Strategy. McGraw Hill.
Shapiro, A. Multinational Financial Management, 8th Edition, J. Wiley & Sons.
Madura, J. International Financial Management, 10th edition, South-Western College Publishing (A division of International Thomson Publishing Inc.)
Brealey, Richard A., Myers, Stewart C., Allen, Franklin. Principles of Corporate Finance, (Mcgraw-hill/Irwin).
Recommended research articles
Lecture notes, case studies and exercises.
YouTube channel of the course lecturer.
https://www.youtube.com/channel/UCeZf5FUwF9LrvdnjXhiCGKQ/videos
Enrollment
01.03.2023 - 30.04.2023
Timing
02.06.2023 - 22.06.2023
Number of ECTS credits allocated
3 op
Mode of delivery
Contact teaching
Unit
School of Business
Campus
Lutakko Campus
Teaching languages
- English
Seats
0 - 20
Teachers
- Shabnamjit Hundal
- Risto Korkia-Aho
Groups
-
YBB20S1Master's Degree Programme in International Business Management
-
MPT20S1Palveluliiketoiminta
-
HTA22S1Tiimiakatemia (AMK)
-
HBI23VKSSLike's Summer School 2023 (Bachelor's)
-
HTK21S1Tietojenkäsittely (AMK)
-
HTG21S1Bachelor's Degree Programme in Business Information Technology
-
YHO21S1Organisaation ja talouden johtaminen (YAMK)
-
MTM21S1Bachelor's Degree Programme in Tourism Management
-
YMJ21S1Matkailu- ja palveluliiketoiminnan johtaminen (YAMK)
-
MPT21S1Palveluliiketoiminnan tutkinto-ohjelma (AMK)
-
HBI22VSBachelor's Degree Programme in International Business, vaihto-opiskelu/Exchange studies
-
ZJA23KHAvoin AMK, lita
-
YBB22VSMaster's Degree Programme in International Business, vaihto-opiskelu/Exchange studies
-
ZJK23KHKorkeakoulujen välinen yhteistyö, LITA
-
HTA21S1Tiimiakatemia (AMK)
-
HTK20S1Tietojenkäsittely
-
HTG20S1Bachelor's Degree Programme in Business Information Technology
-
YHS22S1Master's Degree Programme in Sport Business Management
-
MTM22S1Bachelor's Degree Programme in Tourism Management
-
YHO22S1Organisaation ja talouden johtaminen (YAMK)
-
YMJ22S1Matkailu- ja palveluliiketoiminnan johtaminen (YAMK)
-
HBI20S1Bachelor's Degree Programme in International Business
-
MPT23VKPalveluliiketoiminnan tutkinto-ohjelma (AMK), vaihto-opiskelu/Exchange studies
-
HTG23VKBachelor's Degree Programme in Business Information Technology, vaihto-opiskelu/Exchange studies
-
HBI21S1Degree Programme in International Business
-
HBI22S1Degree Programme in International Business
-
YHS21S1Master's Degree Programme in Sport Business Management
-
MTM20S1Bachelor's Degree Programme in Tourism Management
-
YBB22S1Master's Degree Programme in International Business
-
HTL21SIYLiiketalouden tutkinto-ohjelma (AMK)
-
HTL21SBLiiketalouden tutkinto-ohjelma (AMK)
-
YHS23VKMaster's Degree Programme in Sport Business Management, vaihto-opiskelu/Exchange studies
-
MTM22VSBachelor's Degree Programme in Tourism Management,vaihto-opiskelu/Exchange studies
-
YBB21S1Master's Degree Programme in International Business
-
HTL21SCLiiketalouden tutkinto-ohjelma (AMK)
-
MTM23VKBachelor's Degree Programme in Tourism Management,vaihto-opiskelu/Exchange studies
-
HBI23VKBachelor's Degree Programme in International Business, vaihto-opiskelu/Exchange studies
-
HTL21SALiiketalouden tutkinto-ohjelma (AMK)
-
YBB23VKMaster's Degree Programme in International Business, vaihto-opiskelu/Exchange studies
Objective
This course examines important issues in corporate finance in Europe from the perspective of financial managers, who are responsible for making significant financial decisions. The various contents of the course have been designed in such a way that they not only establish a logical and systematic relationship with each other, but such mutual relationship is also integrated with the strategic decision-making process of corporates functioning in the European business environment. For example topic such as assets valuation on the one hand highlighting investing side and capital structure, cost of capital and payout policy highlighting financing side not only demonstrate their mutual interactions but also convey their overall relationship with the corporate strategy in the light of several vital determinants such as tax laws, bankruptcy laws, risk management practices and managerial incentives in Europe.
This course is comprising of various topics including the concept of present value, the opportunity cost of capital, discounted cash flow analysis, valuation techniques, issues between short & long term financial management, risk and return, capital asset pricing model, capital budgeting, corporate capital structure and financing decisions, dividend policy, mergers and acquisitions (M&A), global financial management including exchange including for example exchange rate risk analysis, and issues of corporate governance and control.
In this course due importance has also been given to the core theoretical concepts related to each topic to develop intellectual discourse, creative thinking and problem-solving skills of students. The study of course contents in the light of diverse business environments enable students to understand diverse theoretical aspects and empirical studies through critical perspectives and contextualize the course contents in various scenario/settings. Similarly, there is explicit emphasis laid on the quantitative data analysis in this course.
Content
Assets valuation, Capital Structure Dynamics and Corporate Strategy, Impact of taxes on Financing Choice, Dividend policy & Share Repurchases; Bankruptcy Costs and Debt Holder-Equity Holder Conflicts; Managerial Incentives and Financial Decisions, M&As, Corporate Strategy, Risk Management (including use of financial derivatives), and Real Options.
Location and time
Timings and venue will be disclosed later.
Materials
Grinblatt, M. & Titman, S. Financial Markets and Corporate Strategy. McGraw Hill.
Shapiro, A. Multinational Financial Management, 8th Edition, J. Wiley & Sons.
Madura, J. International Financial Management, 10th edition, South-Western College Publishing (A division of International Thomson Publishing Inc.)
Brealey, Richard A., Myers, Stewart C., Allen, Franklin. Principles of Corporate Finance, (Mcgraw-hill/Irwin).
Recommended research articles
Lecture notes, case studies and exercises.
Pre-recorded lecture videos available at the course lecturer's YouTube channel:
https://www.youtube.com/channel/UCeZf5FUwF9LrvdnjXhiCGKQ/videos
Teaching methods
Fully in-classroom, though occasional reference of pre-recorded lectures will be made.
International connections
Students will be working in a highly meaningful international environment.
Student workload
It is a 3 ECTS course
Lectures = 20 hours
Workshops= 30 hours
Assignments=16 Hours
Review of literature=10 hours
Others=5 hours
TOTAL=81 Hours
Further information
Assignments and presentations.
Evaluation scale
0-5
Assessment criteria, satisfactory (1)
You will get a grade of ‘one’ if you are able to demonstrate a basic level of evidence of the following ILOs-Analytical Business Skills (IBBUS), Critical Thinking (IBCRI), Collaborative Skills (IBCOL) and Communication Skills (IBCOM).
You will get a grade of ‘two’ if you are able to demonstrate satisfactory level of evidence of in the following ILOs-Analytical Business Skills (IBBUS), Critical Thinking (IBCRI), Collaborative Skills (IBCOL) and Communication Skills (IBCOM).
Assessment criteria, good (3)
Grade 3 and 4:
You will get a grade of ‘three’ if you are able to demonstrate good level of evidence of in the following ILOs-Analytical Business Skills (IBBUS), Critical Thinking (IBCRI), Collaborative Skills (IBCOL) and Communication Skills (IBCOM) and you are able to demonstrate clearly some evidence of Ethical, Sustainable and Responsible Conduct (IBESR) and Personal Skills (IBPER).
You will get a grade of ‘four’ if you are able to demonstrate an excellent level of evidence of in the following ILOs-Analytical Business Skills (IBBUS), Critical Thinking (IBCRI), Collaborative Skills (IBCOL) and Communication Skills (IBCOM) and you are able to demonstrate significant evidence of Ethical, Sustainable and Responsible Conduct (IBESR) and Personal Skills (IBPER).
Assessment criteria, excellent (5)
Grade 5: You will get a grade of ‘five’ if you are able to demonstrate an excellent level of evidence of in the following ILOs-Analytical Business Skills (IBBUS), Critical Thinking (IBCRI), Collaborative Skills (IBCOL), Communication Skills (IBCOM), Ethical, Sustainable and Responsible Conduct (IBESR) and Personal Skills (IBPER).
Qualifications
Basic knowledge of Economics or any discipline of business studies.