IPO - Raised Capital

Crédit : 2 ECTS
Langue du cours : anglais

Volume horaire

  • CM : 15 h

Compétences à acquérir

On completing the course the participants will:
  • Know the key considerations affecting corporate finance decisions
  • Understand the context and structure of corporate finance transactions
  • Compete for management positions in corporate and financial institutions
  • Develop and execute complex corporate finance deals

Description du contenu de l'enseignement

The aim of the course is to develop an understanding of modern corporate finance so that the corporate manager, the investment banker and the financial analyst will have the conceptual foundations for making informed corporate assessments of key financial decisions. The course puts significant emphasis on the interactions between capital markets and the value of the underlying real assets. Participants will able to:
  • Appreciate the implications of modern finance theory on practical corporate finance issues
  • Develop analytical skills to evaluate complex corporate finance decisions
  • Understand the perspectives of corporate managers, shareholders, financiers and financial intermediaries of key financial decisions
  • Familiarise with contemporary corporate finance practice and market trends evolving in different countries

Planning course :
The course will comprise of 3 sessions of 3 hours contact time each. An important element of the course is the comparison of institutional and cultural differences across countries in the practice of Corporate Finance. Each session will consist of formal lecture, participative discussion and debate and case studies to illustrate theory and learn from real world situations. The whole class is expected to contribute to the discussion.
  • Session 1 Corporate restructuring
- Reasons for restructuring
- Different types of restructuring
- Market reaction to corporate restructuring
  • Session 2 Case study : DuPont Corporation: Sale of Performance Coatings, Case No. UVA-F-1709, dated 7 February 2014, Darden Business Publishing, University of Virginia
  • Session 3. Corporate Bankruptcy
- Measures of financial distress and symptoms of decline
- Institutional differences in financial distress and bankruptcy procedures
- Classification of recovery strategies
  • Session 4 Capital structure : The Weighted Average Cost of Capital
  • Session 5 Capital structure : Managing Corporate Capital Structure in Practice

Mode de contrôle des connaissances

Examen final.

Pré-requis recommandés

M1 finance, économétrie, mathématiques – grandes écoles de commerce ou d’ingénieur.

Pré-requis obligatoires

M1 et cours en finance de marché.

Bibliographie, lectures recommandées

The following Corporate Finance textbook you used in term 2 will do:
  • Brealey, R., S. Myers and F. Allen, 2014, Corporate Finance, 11th edition, McGraw-Hill (BMA).

You may also find the following useful if this textbook is too difficult.
  • Beck, J. and P. DeMarzo, 2014, Corporate Finance, 3nd Edition, Pearson International Edition (BDM).
  • Ross, Stephen, Westerfield, Randolph, Jaffe, Jeffrey, 2012, Corporate Finance, 10th Edition McGraw-Hill/Irwin (RWJ).
  • Damodaran, A., 2010, Applied Corporate Finance: A user’s manual, 3nd Edition, John Wiley and Sons.
Research papers from academic journals and www.ssrn.com, and financial press including Financial Times, and The Economist and case-studies will be used to illustrate theory in real world applications.

Enseignant responsable


Année universitaire 2017 - 2018 - Fiche modifiée le : 12-07-2017 (10H18) - Sous réserve de modification.