International corporate finance for managers

This is the only finance module that looks at finance from the perspective of the firm rather than the investor. It is a key module for those planning to work in the finance area of a firm or for those who wish to understand the relationship between firms and financial markets.

Topics covered

• Investment Appraisal: Fundamentals
• Investment Appraisal: Applications
• Financing the Firm
• Capital Structure 1: The CAPM and Modigliani Miller
• Capital Structure 2: Real World Extensions
• The Weighted Average Cost of Capital
• Valuation
• Valuation and real options
• Mergers and Acquisitions
• Corporate Governance

Learning outcomes

If you complete the module successfully, you should be able to:

• understand how firms finance themselves, the financial strategy of corporations, financial structures and its management.
• articulate and evaluate the key financial concepts of: Net Present Value, the cost of capital, capital structure as well as the issues arising from the use of different capital structures.
• reason critically with respect to alternative corporate finance strategies.
• identify optimal financial strategies according to the set of information available.
• adopt alternative financial strategies once the set of information changes.
• calculate key information in the decision-making process.
• evaluate financial data to understand the financial strategy of corporations.
• gain professional financial tool skills and case studies interpretation skills to support decisions.
• work both independently and in teams to create and manage financial strategies
• The skills to present highly technical financial material to non-practitioners simply and clearly.
• synthesise and use information and materials from a variety of different sources to support an argument.
• apply research skills into international corporate finance problems and the application of these in the assembling and analysis of financial strategies

Assessment

This module is assessed by:

Coursework (50% weighting):

• There is one item of coursework for this module which contributes to the final assessment mark for this module.
• Coursework: a written essay of a maximum of 2,000 or 2,500 words (deadline – weeks 9-12) The coursework is designed to check student progress, extend and reinforce concepts covered and also test individual performance.

Examination (50% weighting):

• The final piece of assessment will be an unseen written examination of 2 hours’ duration.

Essential reading

The following is provided as part of the course materials after you register:

• Berk J. and DeMarzo P., Corporate Finance, Pearson, 2014