ESF:MKF_FIFI Corporate Finance - Course Information

MKF_FIFI Corporate Finance

Extent and Intensity

0/0/0. 6 credit(s). Type of Completion: zk (examination).
In-person direct teaching

Teacher(s)

Ing. Veronika Kajurová, Ph.D. (lecturer)
doc. Ing. Tomáš Výrost, PhD. (lecturer)

Guaranteed by

doc. Ing. Tomáš Výrost, PhD.
Department of Finance – Faculty of Economics and Administration
Contact Person: Iva Havlíčková
Supplier department: Department of Finance – Faculty of Economics and Administration

Timetable

Sat 5. 10. 12:00–15:50 P303, Sat 19. 10. 12:00–15:50 P104, Sat 30. 11. 12:00–15:50 P106

Prerequisites

Elementary knowledge of financial management, financial markets, accounting, microeconomics and macroeconomics.

Course Enrolment Limitations

The course is also offered to the students of the fields other than those the course is directly associated with.

fields of study / plans the course is directly associated with

• Corporate Finance, Accounting, and Taxes (programme ESF, N-FIN)
• Financial Markets, Institutions and Technologies (programme ESF, N-FIN)

Course objectives

The main goal of the course is to develop and deepen knowledge about financial management. With regard to the impact on the value of the company, the course develops a theoretical framework for understanding and analyzing the main financial topics in the company, focuses on advanced models of corporate valuation, including models for valuing of individual assets in the company and a critical analysis of investment projects and their impact on capital structure. The course focuses on the development of skills in analyzing the company's position in the capital market and in raising funds and allocating capital. It provides knowledge for evaluating selected management decisions and their impact on the company's performance and value.

Learning outcomes

After completing the course, students will be able to:
- apply advanced methods for valuing corporate capital,
- value financial and real assets used by the company,
- evaluate investment projects and critically evaluate their impact on the value of the company,
- evaluate the decisions made and assess their impact on the development of society and its value.

Syllabus

• Lectures:
  1) Introduction to corporate finance, corporate governance, including responsible finance and ESG.
• 2) Financial analysis (review with an emphasis on selected aspects of the company's financial situation), strategic analysis, main features of a financial plan and its importance,
• 3) Short-term and long-term financial planning,
• 4) Capital structure of the company,
• 5) Investment decision-making and project analysis,
• 6) Real options,
• 7) Introduction to company valuation and valuation techniques,
• 8) Valuation I,
• 9) Valuation II,
• 10) Leasing,
• 11) Restructuring,
• 12) Mergers and acquisitions.

Literature

required literature
• BREALEY, Richard A., Stewart C. MYERS and Alan J. MARCUS. Fundamentals of corporate finance. Tenth edition. New York: McGraw-Hill Education, 2020, xxxi, 728. ISBN 9781260566093. info
• BREALEY, Richard A., Stewart C. MYERS and Franklin ALLEN. Principles of corporate finance. Thirteenth edition. New York: McGraw-Hill Education, 2020, xxx, 918. ISBN 9781260565553. info
• Corporate issuers, equity valuation : CFA Program Curriculum 2024. Hoboken: Wiley, 2024, viii, 351. ISBN 9781953337573. info
• Equity valuation and fixed income : CFA Program Curriculum 2024. Hoboken: Wiley, 2024, x, 651. ISBN 9781953337580. info
• Financial statement analysis : CFA Program Curriculum 2024. Hoboken: Wiley, 2024, x, 507. ISBN 9781953337566. info

recommended literature
• HAWAWINI, Gabriel A. and Claude VIALLET. Finance for executives : managing for value creation. Seventh edition. Andover: Cengage, 2022, xxxi, 800. ISBN 9781473778917. info
• MAŘÍK, Miloš and KOLEKTIV. Metody oceňování podniku: proces ocenění, základní metody a postupy. 4th ed. Praha: Ekopress, 2018. ISBN 978-80-87865-38-5. info
• MAŘÍK, Miloš and KOLEKTIV. Metody oceňování podniku: proces ocenění, základní metody a postupy. 4th ed. Praha: Ekopress, 2018. ISBN 978-80-87865-38-5. info
• WESTERFIELD, Randolph and Jeffrey F. JAFFE. Corporate finance. Edited by Stephen A. Ross. 7th ed. Boston: McGraw-Hill, 2005, xxxiii, 94. ISBN 0072829206. info

Teaching methods

Tutorials, individual study of literature, individual consultations, homework, project work on valuation of the company, progress tests.

Assessment methods

The course is completed by an oral exam. To successfully complete the course, you need to pass three progress tests (you can get a maximum of 20 points from each and at least 50% of the total possible points have be obtained in total), develop and submit a project that is defended as part of the oral exam (40 points). The overall evaluation of the subject is given by the sum of the points from the oral exam and the progress tests.
The following classification scale applies to student evaluation:
A: 92 – 100 b,
B: 84 – 91 b,
C: 76 – 83 b,
D: 68 – 75 b,
E: 61 – 67 b,
F: less than 61 b.

Warning: "Any copying, recording or leaking tests, use of unauthorized tools, aids and communication devices, or other disruptions of objectivity of exams (credit tests) will be considered non-compliance with the conditions for course completion as well as a severe violation of the study rules. Consequently, the teacher will finish the exam (credit test) by awarding grade "F" in the Information System, and the Dean will initiate disciplinary proceedings that may result in study termination."

Students studying abroad contact the lecturer in the first week of semester by email or via MS Teams and agree on the conditions for completing the course.

Language of instruction

Czech

Study support

https://is.muni.cz/auth/el/econ/podzim2024/MKF_FIFI/index-rwVKim.qwarp

Further comments (probably available only in Czech)

Study Materials
The course is taught annually.
Information on the extent and intensity of the course: tutorial 12 hodin.

• Enrolment Statistics (recent)
  
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