Opetussuunnitelmat

Objective

Learning Outcomes
In the Finance and Corporate Governance Academic Track you will be exploring the following questions invariable during your studies, research, and projects. The answers to these questions will help you to learn, understand and apply various skills in the field of academia and corporate sector in the future, though the journey is endless.
- What is the nature and structure of modern-day corporates (particularly the global ones)?
-What are the sources of planning, strategies, and leadership of corporates?
- What is the various board of directors' dynamics concerning their functions and corporate policy, planning, and decision making?
- How do corporates raise their finances and then invest them?
- How do corporates/individuals create their financial portfolio (comprising of stocks, currencies, derivatives, and commodities) and trade to maximize their wealth?
- What are the dynamics of capital structure, taxation, mergers and acquisitions (M&A) and valuation of corporates?
- Do accounting and financial information reflect the true picture of corporates? Can data be manipulated? If yes, then why do managers resort to such practices? How can such manipulations be detected?
-What type of financial risks corporates are exposed to? How are such risks managed?
-What is the role of financial technology (FINTECH) in financial management and corporate governance?
You will explore many more questions by understanding core conceptual knowledge and building practical skills. The combination of concepts and practical skills helps immensely in the successful completion of their academic track including corporate projects, internships, and theses. Similarly, skills and knowledge acquired in Finance and Corporate Governance Academic Track give an edge in the job market and post-graduate studies.
The academic track is in sync with the Financial Management course, and those students who are studying Financial Management course will have definitely get more opportunities to learn various aspects of academic track.
Course contents
Industry, company and competitive financial analysis, corporate valuation, dynamics of mergers and acquisitions (M&A), financing choice in the light of taxation and bankruptcy costs, financial ratios analysis, cost of capital using relevant benchmarks and risk profiles of firms. These topics are directly related to the Consolidation Project.
International financial markets, corporate risk management, taxation in cross-border operations, issues pertaining to corporate ethics and responsibility, sustainable finance, financial statement analysis, quantitative financial analysis, investment analysis, financial risk management, research methods in finance and investment, portfolio investment management, strategic management accounting, financial forecasting, financial institutions and markets, capital investment appraisal, managerial incentives and motivations, corporate & entrepreneurial finance, theories and practices of corporate governance, functioning of internal control mechanisms (e.g. internal audit, audit committees etc.) in the domain of overall audit process, understand functioning of external corporate governance mechanisms, executive compensation, dynamics of minority shareholders and expropriation of the firm value for private use, regulatory and legal aspects of corporate governance, behavioral finance, and the role and relevance of new technological developments taking place in the field of Finance and Corporate Governance such as Cryptocurrencies, Blockchains, Artificial Intelligence, Digitalization and Automation and FINTECH in general.
You will acquire the following skills and competences through the following Intended Learning Outcomes (ILOs):
1 Applied Business Skills (IBBUS)
You will analyze global business challenges and trends by applying disciplinary and interdisciplinary knowledge and practical skills gained in the studies in the field of a complex global business environment comprising of various norms, values, traditions, beliefs, policies, rules, regulations, technical specifications and legal practices. Global business managers, besides understanding each of the above-mentioned aspects, must have skills to combine these aspects meticulously to take strategic business decisions in a constantly changing and unpredictable business world. You will acquire the ability to make decisions and to draw conclusions from available information, which are the fundamental skills of corporate managers. For an MNC, which constantly faces challenges of identifying financial risks, utilizes various methods for minimizing its exposure to risks, and designs risk management strategy, etc. Data analysis techniques, particularly quantitative techniques, in the field of financial analysis, investment analysis, financial forecasting, etc. will provide you extensively useful skills to solve complex business problems.
2 Skills in Critical and Analytical Understanding (IBCRI)
Understanding, exploring, discussing and deliberating multiple theoretical aspects to highlight practical applications from the point of view of investors, and finance managers, in the field of corporate risk management, corporate finance, international finance, accounting information analysis, strategic management, accounting, financial institutions and markets, personal finance, etc. Managers need to apply their skills to effectively face situations of trade-offs, conflicts, and contradictions, for example, in the light of macro-economic and political developments, regulatory amendments, and global business changes, and their fallouts on different stakeholders about the company. To solve the above complex and dynamic situations, you need to acquire necessary skills through the critical review of extant literature as found in academic, practitioner and regulatory domains. The purpose of a critical literature review is to apply and deepen your knowledge from an area of study and demonstrate proficiency in reviewing, synthesizing, and critically analyzing the research literature for the topic area in question.
3 Communication Skills (IBCOM)
Communicating the inferences made and interpretations drawn based on the financial data analysis responsibly, effectively, and professionally in English, including in written reports, presentations, formal correspondence, and on social media.
4 Intercultural Collaboration Skills (IBCOL)
You will get numerous opportunities to participate enthusiastically in inter- and multicultural settings, demonstrate team building and leadership skills, and implement conflict resolution skills in diverse situations. The successful functioning and growth of modern organizations significantly depend on various dynamics of team-based projects. You will interact extensively with other students by forming multifunctional and cross-disciplinary teams to study, explore and infer several business phenomena.
5 Ethical Conduct (IBETH)
Promoting moral and ethical mindset and conduct to ascertain and disclose true and unbiased financial health of the companies. Safeguarding interests of different stakeholders in an unbiased manner to promote corporate value system which is humane, fair and equitable. As a student, you need to acquire a moral and ethical mindset to ascertain and disclose true and unbiased business and economic scenarios and their fallouts.
6 Skills for Personal Career Development (IBPER)
Activate personal and professional development by reflecting upon and deepening personal learning, and to positively affect one’s own life and those around them. You not only understand the theoretical underpinnings and their applications in the broader sense but also identify the specific skills that you can relate to them which can find its applications in your personal and professional aspects of life.

Content

Financing international trade, international financial markets, exchange rate risk management, corporate risk management, taxation in cross-border operations, multinational financial statement analysis, quantitative financial analysis, investment analysis, strategic management accounting, financial forecasting, financial institutions and markets, capital investment appraisal and real assets valuation, financial ratios analysis, cost of capital using relevant benchmarks and risk profiles of firms, financing choice in the light of taxation and bankruptcy costs, managerial incentives and motivations, dynamics of mergers and acquisitions (M&A), theories and practices of corporate governance, functioning of internal control mechanisms (e.g. internal audit, audit committees etc.) in the domain of overall audit process, understand functioning of external corporate governance mechanisms, executive compensation, dynamics of minority shareholders and expropriation of the firm value for private use, regulatory and legal aspects of corporate governance, cryptocurrencies trading and valuation, blockchains, artificial intelligence in finance sector, digitalization and automation; ESG Scores, Ethics, Responsibility and Sustainability issues of firms, Circular Economy.

Location and time

The course begin in the autumn and continues to spring. There will be a two-hour long lecture and one hour of data analysis lab session per week. This is an in-classroom course. Attendance is mandatory. Unauthorized absences exceeding two can lead to removal from the course.

Materials

Lecture slides, case studies, spreadsheets, textbooks, research articles, videos, assignments, online resources etc. Please check learning platform on regular basis.

Main text books
-Richard A. Brealey, Stewart C. Myers and Franklin Allen, Principles of Corporate Finance, 13th Edition (2019). The McGraw-Hill.
- Stephen Ross and Randolph Westerfield and Jeffrey Jaffe and Bradford Jordan, Corporate Finance, 12th Edition (2018). The McGraw-Hill.
- Jonathan Berk and Peter DeMarzo, Corporate Finance, 5th Edition (2020). Pearson.

Other books
-Mark Grinblatt and Sheridan Titman, Financial Markets & Corporate Strategy,
- Glen Arnold, Corporate Financial Management
- Stephen Lofthouse, Investment Management
- Jeff Madura, International Financial Management
-Or any other text on introductory Financial Management

On-line sources
• https://www.youtube.com/channel/UCeZf5FUwF9LrvdnjXhiCGKQ/videos
The above channel is run by the lecturer himself.
• https://www.investing.com/
• https://uk.finance.yahoo.com/
• https://finance.yahoo.com/
• http://www.nasdaqomxnordic.com/
• http://www.worldbank.org/
• http://www.oecd.org/
• https://www.bloomberg.com/
• https://www.reuters.com/
• https://www.bbc.com
• http://ssrn.com
• http://www.imf.org
• http://www.ifc.org
• http://www.nytimes.com

Teaching methods

The primary modes of delivery are face-to-face learning (lectures, workshops, presentations), and occasional distance learning (e.g. online lectures and presentations) and hyflex learning mode.

Employer connections

There are possibilities of having corporate projects and practical training related to the academic track.

International connections

There are possibilities of having collaborations with other universities in Finland and abroad with respect to joint research, and corporate projects.

Student workload

You will be required to required to invest 135 hours approximately and the break up of the total time is as below:
Lectures: 40 hours
Data Analysis Lab Session: 15 Hours
Assignment Preparations: 30 Hours
Research Plan Preparations: 40 Hours
Miscellaneous: 10 Hours

Evaluation scale

0-5

Assessment criteria, satisfactory (1)

Course assessment is based on written reports, presentations, thesis and projects
Grade 1 and 2:
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)

Course assessment is based on written reports, presentations, thesis and projects
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)

Course assessment is based on written reports, presentations, thesis and projects
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).

Further information

Career Path
Finance and Corporate Governance track support students to understand various dynamics of finance and governance, and their combined effect on corporate strategy and risk management of, both SMEs and MNCs. Students choose to analyze several aspects of financial markets, financial risk assessment, portfolio management, capital structure and taxation, mergers and acquisitions (M&A), corporate valuation, accounting/financial manipulations and financial frauds. Students get several opportunities to work with corporates including big and small organizations and these include start-ups, investment funds, banks, other universities and professional bodies. For example, during the last couple of years, we have accomplished two mega project competitions, "International Auditing Project" and "Project Consolidation", which aimed to provide a platform for students to apply their knowledge and skills in an international as well as competitive environment.
This track aims to tailor a clear alignment between classroom studies, projects, and theses. After successful completion of their studies, students are expected to create their career path in retail, and investment banking, insurance, wealth management, equity analyses, corporate finance of SMEs, and MNCs and academia.