MSING027: CORPORATE FINANCE

 Core Module Information:

Taught by:
Level:
Prerequisites:

Eligibility:
Terms:
Delivery method:
Assessment:
Dr Peter J Clark
Masters
Some prior accounting/economics/general bus. studies may be help
MSc Management Route B students only
Term 1
2-hour lecture (x 10 weeks) and 1-hour workshops (x 9 weeks) immediately thereafter
2 coursework assignments worth 50% each

This course is offered in the first (Autumn) term only. This essay-only module considers a rotating range of major strategic financial issues of importance to corporate financial officers (FDs and CFOs) and other financially-oriented corporate top executives today.

Two specific topics are selected by the Course Leader in each term.

Intent is that one of those two topics covers an issue of active financial scholarly interest (as reflected in papers in peer-reviewed journals and comparable sources) which also has significant relevance to today’s senior financial officers. Examples include: equity risk premium (one of last term’s two topics), risk free rate, Beta, components of the Capital Asset Pricing Model (CAPM), advanced capital expenditure (CAPM) diagnoses, optimal capital structure (OCS), company valuation, price v value, others.

The other module topic is specifically selected for its topical relevance to present and emerging issues in corporate finance. Examples include: value management (one of last term’s two topics), merger valuation and determination of M&A success or failure, initial public offering (IPO) valuation and pricing, selling company strategy, break-up analyses, others.

Upon successful completion of the module, students are expected to develop a deep understanding in the two financially- relevant topic areas addressed during that term.

Two topics are covered each term, in depth. The topics correspond to the students’ two research-and-interpretation essay topics as specified by the Course Leader at the beginning of term (topic / new research essay 1) and mid-point in the term (topic / new essay 2). Those two topics are selected each term from a range of areas of vital interest to corporate financial officer and indeed, all corporate executives or advisers / consultants looking at the financial performance of firms. That range includes but is not restricted to: internal and external investment analysis, financing strategy and planning, IPO versus sale of company, and ‘value management’: systematic pursuit of maximum shareholder value.

100% of the mark for this module is based on coursework: two 2,000 word papers (each worth 50%). The deadline date (TurnItIn submission) for the first paper is around mid-term; for the second paper, at end of term. All students do the same topic at the same time, and each paper is strictly an individual effort (no group-work permitted).

There is no single course text for this module. Some selected materials will be provided by the Course Leader. Some other materials are to be researched by students themselves. NOTE: It is presumed that students have access to both scholarly and general management paper/document databases and/or library sources, since the papers are investigatory in nature and thus such access is important to your success in this course.