MPF_FIFI Corporate Finance

Faculty of Economics and Administration
Autumn 2023
Extent and Intensity
2/2/0. 6 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. Veronika Kajurová, Ph.D. (lecturer)
prof. Ing. Štefan Lyócsa, PhD. (lecturer)
Ing. Veronika Kajurová, Ph.D. (seminar tutor)
Guaranteed by
prof. Ing. Štefan Lyócsa, PhD.
Department of Finance – Faculty of Economics and Administration
Contact Person: Iva Havlíčková
Supplier department: Department of Finance – Faculty of Economics and Administration
Timetable
Fri 8:00–9:50 P101, except Fri 22. 9., except Fri 10. 11.
  • Timetable of Seminar Groups:
MPF_FIFI/01: Mon 8:00–9:50 VT105, except Mon 18. 9., except Mon 6. 11., V. Kajurová
MPF_FIFI/02: Mon 14:00–15:50 VT105, except Mon 18. 9., except Mon 6. 11., V. Kajurová
MPF_FIFI/03: Mon 12:00–13:50 VT202, except Mon 18. 9., except Mon 6. 11., V. Kajurová
MPF_FIFI/04: Fri 12:00–13:50 VT105, except Fri 22. 9., except Fri 10. 11., V. Kajurová
Prerequisites
(! MPF_AFAP Corporate Finance ) && !NOWANY( MPF_AFAP Corporate Finance )
Elementary knowledge of financial management, microeconomics and macroeconomics, accounting, banking and financial markets.
Course Enrolment Limitations
The course is also offered to the students of the fields other than those the course is directly associated with.
The capacity limit for the course is 90 student(s).
Current registration and enrolment status: enrolled: 75/90, only registered: 0/90, only registered with preference (fields directly associated with the programme): 0/90
fields of study / plans the course is directly associated with
Course objectives
The main goal of the course is to develop and deepen knowledge about financial management. With regard to the impact on the value of the company, the course develops a theoretical framework for understanding and analyzing the main financial topics in the company, focuses on advanced models of corporate valuation, including models for valuing of individual assets in the company and a critical analysis of investment projects and their impact on capital structure. The course focuses on the development of skills in analyzing the company's position in the capital market and in raising funds and allocating capital. It provides knowledge for evaluating selected management decisions and their impact on the company's performance and value.
Learning outcomes
After completing the course, students will be able to:
- apply advanced methods for valuing corporate capital,
- value financial and real assets used by the company,
- evaluate investment projects and critically evaluate their impact on the value of the company,
- evaluate the strategic decisions made and assess their impact on the development of society and its value.
Syllabus
  • Lectures:
    1) Introduction to corporate finance, net present value, introduction to risk,
  • 2) Financial analysis,
  • 3) Financial planning and working capital management,
  • 4) Investment decision-making and project analysis including real options,
  • 5) Valuing bonds and stocks,
  • 6) Capital structure of the company, payout policy,
  • 7) Debt financing including leasing,
  • 8) Valuation I,
  • 9) Valuation II,
  • 10) Mergers and acquisitions,
  • 11) Corporate restructuring,
  • 12) Corporate governance and company value.
  • Seminars:
  • The first part of the seminar is devoted to examples of the discussed issues, the second part of the seminar is devoted to work on a semestral project.
  • 1) Introduction to corporate finance, net present value, introduction to risk,
  • 2) Financial analysis of a corporation,
  • 3) Financial planning and working capital management,
  • 4) Investment decision-making and project analysis including real options,
  • 5) Valuation of stocks and bonds,
  • 6) Capital structure of the company, dividend policy,
  • 7) Debt financing including leasing,
  • 8) Valuation I,
  • 9) Valuation II,
  • 10) Mergers and acquisitions,
  • 11) Restructuring of the company,
  • 12) Corporate governance and company value.
Literature
    required literature
  • BREALEY, Richard A., Stewart C. MYERS and Alan J. MARCUS. Fundamentals of corporate finance. Tenth edition. New York: McGraw-Hill Education, 2020, xxxi, 728. ISBN 9781260566093. info
  • BREALEY, Richard A., Stewart C. MYERS and Franklin ALLEN. Principles of corporate finance. Thirteenth edition. New York: McGraw-Hill Education, 2020, xxx, 918. ISBN 9781260565553. info
    recommended literature
  • WESTERFIELD, Randolph and Jeffrey F. JAFFE. Corporate finance. Edited by Stephen A. Ross. 7th ed. Boston: McGraw-Hill, 2005, xxxiii, 94. ISBN 0072829206. info
Teaching methods
Lectures, seminars, individual study of literature, individual consultations, homework, test, project elaboration
Assessment methods
The course is completed by a written exam. To successfully complete the course, it is necessary to obtain at least 51 points from the sum of the exam test, the progress test and the project work. The overall evaluation of the course is given by the sum of points from the written exam (max. 60 points), points from progress test from seminars (max. 20 points) and points for project work (submission and presentation, max. 20 points).

For admission to the exam, participation in seminars (max. 3 unexcused absences), the completion of the progress test and the project elaboration, submission and presentation are required.

As part of the seminars, it is possible to get a maximum of 10 bonus points for activite approach. These points will be included in the final grade of the course.

The following classification scales apply to the evaluation of students:
A 91 - 100%,
B 90 - 81%,
C 80 - 71%,
D 70 - 61%,
E 60 - 51%,
F less than 51%)

Any copying, recording or leaking tests, use of unauthorized tools, aids and communication devices, or other disruptions of objectivity of exams (credit tests) will be considered non-compliance with the conditions for course completion as well as a severe violation of the study rules. Consequently, the teacher will finish the exam (credit test) by awarding grade "F" in the Information System, and the Dean will initiate disciplinary proceedings that may result in study termination.

Students studying abroad contact the lecturer in the first week of semester by email or via MS Teams and agree on the conditions for completing the course.
Language of instruction
Czech
Further comments (probably available only in Czech)
Study Materials
The course is taught annually.
General note: Tento předmět je obsahově ekvivalentní s předmětem MPF_AFAP vyučovaném v anglickém jazyce.
Listed among pre-requisites of other courses
The course is also listed under the following terms Autumn 2009, Autumn 2010, Autumn 2011, Autumn 2012, Autumn 2013, Autumn 2014, Autumn 2015, Autumn 2016, Autumn 2017, Autumn 2018, Autumn 2019, Autumn 2020, Autumn 2021, Autumn 2022, Autumn 2024.
  • Enrolment Statistics (Autumn 2023, recent)
  • Permalink: https://is.muni.cz/course/econ/autumn2023/MPF_FIFI