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Advanced Financial Management

Informacje ogólne

Kod przedmiotu: 2600-GlobMBAAFM Kod Erasmus / ISCED: (brak danych) / (brak danych)
Nazwa przedmiotu: Advanced Financial Management
Jednostka: Wydział Zarządzania
Grupy: Przedmioty dla GlobalMBA na WZ
Punkty ECTS i inne: 3.00
Język prowadzenia: angielski
Rodzaj przedmiotu:

obowiązkowe

Skrócony opis: (tylko po angielsku)

During the course, we shall revise and develop such concepts as corporate valuation, real option valuation, financing decisions, dividends and repurchases, mergers & acquisitions, corporate restructuring, risk management.

Each topic shall be illustrated with case studies. The analyses shall be made from the perspective of the decision maker or the viewpoint of the analyst. The purpose of the decision shall be to create value for the owners.

During the course, we shall analyze risk factors accompanying the decisions taken. For that end, the real option approach shall be used.

While handling each of the topics attention shall be paid to the global context of the financial and investment decisions taken. We shall also discuss the special problems of applying the general concepts of financial management in emerging markets.

Pełny opis: (tylko po angielsku)

During the course, we shall revise and develop such concepts as corporate valuation, real option valuation, financing decisions, dividends and repurchases, mergers & acquisitions, corporate restructuring, risk management.

Each topic shall be illustrated with case studies. The analyses shall be made from the perspective of the decision maker or the viewpoint of the analyst. The purpose of the decision shall be to create value for the owners.

During the course, we shall analyze risk factors accompanying the decisions taken. For that end, the real option approach shall be used.

While handling each of the topics attention shall be paid to the global context of the financial and investment decisions taken. We shall also discuss the special problems of applying the general concepts of financial management in emerging markets.

Course outline:

• Corporate Value and Value-Based Management (Free Cash Flow Valuation and the Cost of Capital, Overview of Corporate Valuation and Value Based Management, Assessment of a Company’s Financial Health, Quality of Earnings and Assets)

• Financing Decisions (Capital Structure Decisions, Hybrid Financing, Initial Public Offerings, Cost of Capital)

• Distributions to Shareholders: Dividends and Repurchases (Dividends versus Capital Gains, Stock Repurchases, Dividends Policy )

• Mergers & Acquisitions, Corporate Restructuring (Reasons for Mergers, Estimating Merger Effects, Cross-Border M&A, Corporate Restructuring )

• Option Pricing with Application to Real Options (Introduction to Option Pricing Models, Introduction to Real Option, Valuing Real Options, Flexibility and Value)

Literatura: (tylko po angielsku)

• Brigham E.F., Daves P.R., Intermediate Financial Management, 12th edition, Thompson-South-Western, Mason 2015.

• Koller T., Goedhardt M., Wessels D. Valuation, Measuring and Managing the Value of Companies, 6th edition, Wiley, New York 2015

• Brealey R.A., Myers S.C., Allen F. Principles of Corporate Finance, 12th edition, Irwin/McGraw-Hill 2016.

• Kester W.C., Ruback R.S., Tufano P. Case Problems in Finance, 12th edition, McGraw-Hill 2005.

• Selected articles from Journal of Applied Corporate Finance and McKinsey on Finance

Efekty uczenia się: (tylko po angielsku)

Upon successful completion of the course, the student will be able to:

• Assess financial condition of the firm and identify hidden assets and hidden liabilities,

• Identify relationships among operating, investment and financial decisions,

• Identify relevant cash flows that are the effects of economic actions,

• Analyse and describe ventures in terms of cash flow and risk,

• Analyse and describe ventures in terms of cash flow (and cost of capital) from different stakeholders point of view,

• Identify main sources of financial risk,

• Value Company using DCF methods under condition of certainty and uncertainty,

• Analyse and value the external financial needs to finance particular ventures,

• Analyse and choose the optimal sources of financing in short and long-term,

• Identify and value flexibilities using real option approach.

Metody i kryteria oceniania: (tylko po angielsku)

Written exam, team project work, written assignments

Zajęcia w cyklu "Semestr letni 2021/22" (zakończony)

Okres: 2022-02-21 - 2022-06-15
Wybrany podział planu:


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Typ zajęć: Wykład, 30 godzin więcej informacji
Koordynatorzy: Waldemar Kozioł
Prowadzący grup: Waldemar Kozioł
Lista studentów: (nie masz dostępu)
Zaliczenie: Egzamin lub zaliczenie
Opisy przedmiotów w USOS i USOSweb są chronione prawem autorskim.
Właścicielem praw autorskich jest Uniwersytet Warszawski.