Modulhandbuch: Hochschule Offenburg

International Business Consulting

Das MBA-Programm IBC bereitet auf eine internationale Karriere in der externen oder internen Beratung, im Controlling oder im Projektmanagement in allen Branche

Bewerbung

Fakultät W

Modulhandbuch

← Zurück

Corporate Finance

Prerequisite

Basic knowledge in Business Adminiatration for Corporate Finance I (1. semester) and knowledge/expertsie from Corporate Finance I for Corporate Finance II (2. semester).

Teaching methods

Lecture/Seminar

Learning target / Competences

The aim of the course is to introduce students to concepts in corporate finance. At the end of the course students will be able to evaluate the most common concepts and techniques used in corporate finance; therefore students will build up an expertise to

- evaluate investment alternatives using static and dynamic methods

- determine ”best” financial options for financing the investments

- illustrate the impact of investments on the financial year statement

- manage and monitor the liquidity level using the toll of Working Capital Management.

- understand the interconnection between financial decisions and strategic management.

- see the broader application of financial concepts to control and lead business incl. strategic change.

- understand how shareholders and capital markets value business and returns.

Duration

SWS

4.0

Overview

Classes	45 h
Individual / Group work:	135 h
Workload	180 h

ECTS

6.0

Credits and grades

Part 1: written examination (60 min)

Part 2: The course is finalized with an assessment paper of approx. 1,500 words based on a real-life case study. Students will have to evaluate and apply concepts and techniques used in VBM. The course grade is based on the assessment paper as well as course participation.

Both grades are equally weighed in the module grade. The module grade is factored in 7/90 in the final grade.

Responsible person

Prof. Dr. Rainer Fischer

Maximum number of participants

Recommended semester

1 and 2

Frequency

Every sem.

Usability

The content of the module can also be used for the University's own Part Time Program "General Management" as well as for general business or industrial engineering master programs of other universities (in Germany and abroad).

Lectures

Corporate Finance II

Type	Seminar
Nr.	IBC-01-02
SWS	2.0
Content	Corporate finance II is concerned with (i) the application of Value Based Management (VBM) tools in practice and (ii) the understanding of the effects of management decisions on profitability, working capital and shareholder value. The course focuses on Economic Value Added (EVA) as an example of the implementation of VBM within a business. This results in the following main issues, which are addressed during the course: - Understanding the principal differences between shareholder value and stakeholder value. - Understanding the way shareholders measure return and how capital markets value companies resp. value creation / increase / decrease. - Broad understanding of the different VBM concepts. - Detailed understanding of EVA and its theoretical foundation incl. cash-flow as the main business objective. - Application of EVA concept(s) in strategic management of companies. - Understanding of accounting adjustments as important part of EVA implementation. - Management compensation based on EVA concept(s). company must be able to meet all its current liability obligations when due. A most important method in this context is the Working Capital Management.
Literature	Blokdyk, Gerardus: Value Based Management - A Complete Guide, 5STARCooks, 2020. Gabriel Hawawini and Claude Viallet: Finance for Executives: Managing for Value Creation, 7/e, Cengage Learning, 2022. S. David Young and Stephen F. O‘Byrne: EVA and Value-Based Management: A Practical Guide to Implementation, McGraw-Hill, 2001 Further recommended readings are given during the lecture.

Corporate Finance I

Type	Vorlesung
Nr.	IBC-01-01
SWS	2.0
Content	Corporate finance is concerned with realizing defined profitability and ensuring a sufficient level of liquidity by the implementation of optional strategies. This results in the following tasks which are adressed in the lesson: - Realizing capital investments and deploying a company's long-term capital. The capital investment decision process is primarily concerned with identifying capital expenditures, estimating future cash flows from proposed capital projects, comparing planned investments with potential proceeds and deciding for the ”best” investment alternative - Sourcing capital in the form of debt or equity. Capital financing is a balancing act in terms of deciding on the relative amounts or weights between debt and equity. A major issue are the costs of capital described by the so-called Weighted Average of Cost (WACC). - Taking into account short-term financial management the goal is to ensure a sufficient level of liquidity to carry out continuing operations. Short-term financial management concerns current assets and current liabilities and operating cash flows. A company must be able to meet all its current liability obligations when due. A most important method in this context is the so-called Working Capital Management.
Literature	Atrill, P: Financial Management for Decision Makers, 7^th Edition 2013 Brealey, R.: Fundamentals of Corporate Finance, 10^th Edition 2020 Brealey, R. et al: Principles of Corporate Finance, 13^th Edition 2020 Further recommended readings are given in the lecture.