MPF_AFAP Corporate Finance

Faculty of Economics and Administration
Spring 2024
Extent and Intensity
2/2/0. 6 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. Veronika Kajurová, Ph.D. (lecturer)
prof. Ing. Štefan Lyócsa, PhD. (lecturer)
Ing. Veronika Kajurová, Ph.D. (seminar tutor)
prof. Ing. Štefan Lyócsa, PhD. (seminar tutor)
Guaranteed by
prof. Ing. Štefan Lyócsa, PhD.
Department of Finance – Faculty of Economics and Administration
Contact Person: Mgr. Jana Nesvadbová
Supplier department: Department of Finance – Faculty of Economics and Administration
Timetable
Wed 8:00–9:50 P312, except Wed 3. 4.
  • Timetable of Seminar Groups:
MPF_AFAP/01: Wed 10:00–11:50 P312, except Wed 3. 4., V. Kajurová
MPF_AFAP/02: Wed 12:00–13:50 P312, except Wed 3. 4., V. Kajurová
Prerequisites
(!NOWANY( MPF_FAPA Corporate Finance , MPF_FAAP Financial Analysis and Plan , MPF_FIFI Corporate Finance )) && (! MPF_FAPA Corporate Finance ) && (! MPF_FAAP Financial Analysis and Plan )&& (! MPF_FIFI Corporate Finance )
Elementary knowledge of financial management, microeconomics and macroeconomics, accounting, banking and financial markets.
Course Enrolment Limitations
The course is only offered to the students of the study fields the course is directly associated with.

The capacity limit for the course is 45 student(s).
Current registration and enrolment status: enrolled: 45/45, only registered: 0/45
fields of study / plans the course is directly associated with
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:
- understand the theory of financial analysis and company planning and be able to use it,
- 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 strategic decisions made and assess their impact on the development of society and its value.
Syllabus
  • Lectures:
    1) Introduction to corporate finance, net present value, introduction to risk,
  • 2) Financial analysis,
  • 3) Financial planning and working capital management,
  • 4) Investment decision-making and project analysis including real options,
  • 5) Valuing bonds and stocks,
  • 6) Capital structure of the company, payout policy,
  • 7) Debt financing including leasing,
  • 8) Valuation I,
  • 9) Valuation II,
  • 10) Mergers and acquisitions,
  • 11) Corporate restructuring,
  • 12) Corporate governance and company value.
  • Seminars:
  • The first part of the seminar is devoted to examples of the discussed issues, the second part of the seminar is devoted to work on a semestral project.
  • 1) Introduction to corporate finance, net present value, introduction to risk,
  • 2) Financial analysis of a corporation,
  • 3) Financial planning and working capital management,
  • 4) Investment decision-making and project analysis including real options,
  • 5) Valuation of stocks and bonds,
  • 6) Capital structure of the company, dividend policy,
  • 7) Debt financing including leasing,
  • 8) Valuation I,
  • 9) Valuation II,
  • 10) Mergers and acquisitions,
  • 11) Restructuring of the company,
  • 12) Corporate governance and company value.
Literature
    required literature
  • BREALEY, Richard A., Stewart C. MYERS and Franklin ALLEN. Principles of corporate finance. 8th ed. Boston: McGraw-Hill, 2006, xxviii, 10. ISBN 0072957239. 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
    recommended literature
  • ACCA Applied skills : financial management (FM) : study text. Wokingham: Kaplan Publishing, 2019, 32, 752. ISBN 9781787403918. info
  • DAMODARAN, Aswath. Applied corporate finance. 3rd ed. Hoboken: John Wiley & Sons, 2011, xiv, 738. ISBN 9780470384640. info
  • HOSKIN, Robert E. Financial statement analysis for non-financial managers : property and casualty insurance. Indianapolis: Dog ear publishing, 2011, 132 stran. ISBN 9781457504464. info
Teaching methods
Lectures, seminars, individual study of literature, individual work, progress tests, project elaboration
Assessment methods
The course is completed by a written exam. To successfully complete the course, it is necessary to obtain at least 51 points from the sum of the exam test, two progress tests, project work and activity points.
The overall evaluation of the course is given by the sum of points from the written exam (max. 60 points), points from progress tests from seminars (max. 30 points / 15 points for each test), points for project work (elaboration and submission) max. 10 points) and bonus points for activity (max. 10 points).

For admission to the exam, participation in seminars (max. 3 unexcused absences), the completion of two progress tests and the project elaboration and submission are required.

As part of the seminar, it is possible to get a maximum of 10 bonus activity points.

The following classification scale applies to the evaluation of students:
A 91 - 100%,
B 90 - 81%,
C 80 - 71%,
D 70 - 61%,
E 60 - 51%,
F less than 51%)

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 (from ECON MUNI) 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
English
Further comments (probably available only in Czech)
Study Materials
The course is taught annually.
General note: Předmět je ekvivalentní předmětu MPF_FAAP a může být za něj uznán. Také je ekvivalentem MPF_FAPA. This course is an equivalent to MPF_FAPA and MPF_FAPA.
Listed among pre-requisites of other courses
Teacher's information
The course is taught annually. The lectures are not recorded in Studium Online.
The course is also listed under the following terms Spring 2011, Spring 2012, Spring 2013, Spring 2014, Spring 2015, Spring 2016, Spring 2017, Spring 2018, Spring 2019, Spring 2020, Spring 2021, Spring 2022, Spring 2023, Spring 2025.
  • Enrolment Statistics (Spring 2024, recent)
  • Permalink: https://is.muni.cz/course/econ/spring2024/MPF_AFAP