Gestion financière et marketing
|Crédit : 3 ECTS|
|Langue du cours : anglais|
- CM : 21 h
Compétences à acquérirAppréhender la corporate finance pour les futurs managers marketing.
Description du contenu de l'enseignementThe course provides an introduction to the fundamentals of financial management and applications to business and marketing challenges in the firm. It will cover some of the theory and practice of decision-making within the corporation: corporate investment decisions, valuation, budget process and investment management.
The main sections of the course are: (i) management of the income statement ; (ii) understanding the balance sheet ; (iii) investment/financing decision, with applications including budgeting ; (iii) links between corporate finance decisions and the share price, merger and acquisition.
Key examples in this course are drawn from all industries with 2013 financial statements of 28 public corporate firms:
- Food: Nestle (#1), Mondelez (#6), Danone (#7)
- Consumer/Beauty: Procter & Gamble (#1), L’Oréal (#1 Beauty)
- Wine & spirits: Diageo (#1), Pernod Ricard (#2), Remy Cointreau
- Luxury Industry: LVMH (#1), Richemont (#2)
- Advertising: Omnicom (#2), Publicis (#3)
- Building materials: Holcim (#1), Lafarge (#2)
- Energy: General Electric (#1), EDF, Alstom
- Oil: Exxon (#1), Total (#7)
- Technology: Samsung (#1), Apple (#2)
- Automobile: PSA (#8), Dongfeng
- Financial services: BNP (#7), Barclays (#8)
- Healthcare products: Pfizer (#2), Sanofi (#4)
- Retailer: Wall Mart (#1), Carrefour (#3)
Planning course :
- Session 1: amphy (Guillaume Renard)
- Management of the income statement : the environment: the market, the competitors, the corporate governance (shareholders board, executive committee), sales analysis by channel (retail, wholesale, license), internal/external, organic, cost of good and gross margin optimization, price structure in an international company, the charges: variable and fixed costs, the virtuous spiral and optimization of the profitability, different levels of income: operating, financial, exceptional.
- Session 2: amphy
- Cash flow statement, investment/financing decision- Ash flow from operation: definition : fnancing activities, investing activities: capital expenditures, the dividends paid to the shareholder:
- Session 3: by group
- Group 2 Master Luxury: case study Hugo Boss
- Session 4: amphy
- Brand value and Licensing : the value of luxury, licensing
- Session 5: by group
- Group 1 Master Marketing/Research: a firm in consumer goods industry
- Group 2 Master Luxury: a firm in luxury industry
- Session 6: amphy
- Final exam (50% of the grade)
Mode de contrôle des connaissancesThe grade will be based on a paper prepared in team (50%) and a final exam (50%) :
- The paper shall be prepared in trio. It should be a written comprehensive financial statement analysis report on a corporation over a period of at least 5 years
- The company for analysis should be submitted to the teacher for approval on a first come, first served basis. No two trios shall tackle the same company. You will find the data in the financial reports (Available on internet) or on Thomson one banker (Available in the library). The paper has to be submitted in class 5.The final exam shall be administered during class hours
Bibliographie, lectures recommandéesThe textbooks for the course are :
- The Theory and Practice of Corporate Finance, by Aswath Damodaran.
- The Financial Statement Analysis ad Security Valuation by Stephan H. Penman.
- Corporate Finance: theory and practice by Pierre Vernimmen, Pascal Quiry and Yann Le Fur.
- L’essentiel de la finance à l’usage des managers by Pierre Cabane.
- La comptabilité facile by Laurent Batsch.
|Année universitaire 2016 - 2017 -
Fiche modifiée le : 13-02-2017