Strategic corporate finance – teaching plan (April sv)

Strategic corporate finance – teaching plan 2020 (April sv)


Session
Lecture topic
Reading(s)
1.    April 14 (Tue)

10-13
14:30-17:30
The finance function

Capital markets and market efficiency
WH: Chapter 1 of the recommended text

WH: Chapter 2 of the recommended text

ML: Chapters 1 and 2.

ML: Chapter 9

Slides: managing the finance function.
Slides: on objectives of financial management.
Slides: financial strategy.
Slides: on profitability, liquidity and solvency.
Slides: on PE ratio.
Slides: time value of money.
Slides: agency theory.
Slides: capital market.
Slides: money market.
Slides: efficient market hypotheses.
Slides: random walk theory.
Slides: Capital asset pricing model.


Video: Financial objectives of firms.
Video: Influences on financial objectives.
Video: Finance functions.
Video: CFO attributes.
Video: Financial strategy.
Video: the basics of corporate governance.
Video: corporate governance (introduction).
Video: measuring financial performance. [also an introduction to key performance indicators].
Video: capital market.
Video: what is a stock exchange.
Video: key players of the capital market.
Video: efficient market hypothesis.
Video: efficient markets and random walk.
Video: capital market efficiency.

Basic concept of finance:
Video: time value of money.
Video: how to calculate present value.
Video: present value of a perpetuity.

Videos on financial ratios
Ratio analysis on profitability.
Ratio analysis on gearing.
Ratio analysis: shareholder ratios.
Ratio analysis: P/E ratio.
Ratio analysis: total shareholder return.
Ratio analysis: return on assets (ROA).
Ratio analysis: decompose ROA.
Ratio analysis: liquidity ratios.
Ratio analysis: asset turnover ratio.
Ratio analysis: comprehensive lecture (ACCA).
Finance portal information on Power Assets.

e-reading: the changing face of the finance function.
e-reading: principles of corporate governance.
e-reading: capital market.
e-reading: efficient market theory.
e-reading: random walk theory.
e-reading: financial ratio analysis (ACCA) [pdf].
2.    April 15 (Wed)

10-13
14:30-17:30
Sources of capital: equity

Sources of capital: debt and hybrid finance
WH: Chapter 4 of the recommended text.

WH: Chapter 5 of the recommended text

ML: Chapter 8


Slides: bonds and debentures.
Slides: types of share. Slides: sources of capital.
Slides: long-term financing (debt).
Slides: pecking order theory and tradeoff theory.

Video: sources of finance.
Video: long term finance (CIMA).
Video: introduction to debt and equity financing.
Video: what is equity.
Video: equity finance.
Video: types of equity shares.
Video: nominal and market values of shares.
Video: what is a preferred stock.
Video: share valuation - calculation.
Video: factors that affect share prices.
Video: how to calculate market capitalization.
Video: private placement. (a briefing).
Video: rights offering.
Video: source of finance: retained profit.
Video: different types of shares.
Video: long-term debt.
Video: debentures.
Video: the components of  a bond.
Video: types of bonds.
Video: how bonds work.
Video: pricing a bond.
Video: relationship between bond prices and interest rates.
Video: convertible bond.
Video: how are bonds rated?
Videos: term loans 1/ term loans 2.
Video: equity vs debt.
Video: pecking order theory.
Video: external sources of finance (short-term): bank overdrafts and loans.
Video: source of finance: factoring.

e-reading: long-term finance.
e-reading: selecting sources of finance ACCA (pdf).
e-reading: types of shares (ACCA).
e-reading: a brief note on debentures (ACCA).
3.    April 16 (Thu)

10-13
14:30-17:30
Leasing and an introduction to cost of capital

Cost of capital and capital structure
WH: Chapter 5 & 9 of the recommended text.

WH: Chapter 9 of the recommended text.

ML: Chapter 10


Slides: lease finance.
Slides: on factoring and invoice discounting.
Slides: short-term financing.
Slides: capital structure.
Slides: financing decision (capital structure).
Slides: cost of capital.
Slides: stock valuation.


Video: market value of debt (the formula).
Video: risk and reward: an introduction.
Video: capital asset pricing model (CAPM).
Video: introduction to beta in CAPM.
Video: risk, return and CAPM.
Video: introduction to cost of capital.
Video: nominal and real interest rates.
Video: weighted average cost of capital. 1
Video: weighted average cost of capital 2.
Video: weighted average cost of capital - an introduction (CIMA).
Video: weighted average cost of capital (a comprehensive example, CIMA).
Video: a lecture on capital structure.
Video: theories on capital structure (ACCA).
Video on financial leverage.
Video: capital structure and financial leverage.
Video: optimal capital structure.
Video: capital structure models.
Video: calculating cost of equity using CAPM.
Video: hire purchase and leasing.
Video: principal agent problem.
Video on rating agencies.
Video on the yield curve (a brief lecture on yield curve).
Video on bond prices and yields.

e-reading: cost of capital (CIMA).
e-reading: capital structure.
e-reading: debt and gearing ratios (ACCA).
e-reading: optimum capital structure (ACCA).
4.    April 17 (Fri)

10-13
14:30-17:30
Investment appraisal & capital budgeting

Dividend policy

 Merger and acquisition
WH: Chapter 6 of the recommended text.

WH: Chapter 10 of the recommended text.

ML: Chapters 4 and 5

ML: Chapter 12
Slides: investment appraisal.
Slides: on NPV.
Slides: dividend types.
Slides: dividend policy.
Slides: dividend yield.
Slides: buyback of shares.


Video: investment appraisal techniques.Video on payback period method.
Video: NPV method.
Video: ARR method.
Video: IRR.
Video: NPV and IRR explained.
Video: shareholder ratios.
Video: dividend and dividend policy.
Video: introduction to dividend policy.
Video: introduction to dividend policy (CIMA).
Video: corporate dividend policy (CIMA).
Video: dividend payout ratio.
Video: dividend yield.
Video: Gordon growth model on share valuation.
Video: dividend irrelevance.

e-reading: dividend policy
e-reading: dividend theory (ACCA).
e-reading: investment appraisal process.
e-reading: basic investment appraisal techniques.

 WH: Chapter 11 of the recommended text.


5.    Apr 20 (Monday)

10-13
14:30-17:30
Consultation session
Self revision resources


Video: financial statement analysis - market value measures.
Video: financial analysis made easy.
Video: how to analyze income statement (case study).
Video on EBITDA.

Reviewing annual reports: exercise: Power Assets 2018.
6.    Apr 21 (Tue)

10-13
14:30-17:30
 Consultation session
Self revision resources

Video: financial statement analysis - market value measures.
Video: financial analysis made easy.
Video: how to analyze income statement (case study).
Video on EBITDA.

Reviewing annual reports: exercise: Power Assets 2018.



References
Watson, D. and Head, A. (2013). Corporate Finance (Principles and Practice), 6th Edition, Pearson [recommended text]. [WH]
McLaney, E. (2009) Business Finance: Theory and Practice 8th Edition, Pearson. [ML]


e-resources
FB group on the subject.
FB group on videos on the subject.
FB group on ratio analysis.

Comments

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