MPF_AFAP Corporate Finance

Faculty of Economics and Administration
Autumn 2026
Extent and Intensity
2/2/0. 6 credit(s). Type of Completion: zk (examination).
In-person direct teaching
Teacher(s)
Ing. Veronika Kajurová, Ph.D. (lecturer)
doc. Ing. Tomáš Výrost, PhD. (lecturer)
Ing. Veronika Kajurová, Ph.D. (seminar tutor)
doc. Ing. Tomáš Výrost, PhD. (seminar tutor)
Guaranteed by
doc. Ing. Tomáš Výrost, PhD.
Department of Finance – Faculty of Economics and Administration
Contact Person: Kristina Charvátová
Supplier department: Department of Finance – Faculty of Economics and Administration
Prerequisites
(!NOWANY(MPF_FAPA Corporate Finance and Financial Analysis (for Czech studies), MPF_FAAP Financial Analysis and Plan, MPF_FIFI Corporate Finance)) && (!MPF_FAPA Corporate Finance and Financial Analysis (for Czech studies)) && (!MPF_FAAP Financial Analysis and Plan) && (!MPF_FIFI Corporate Finance)
Elementary knowledge of financial management, microeconomics and macroeconomics, accounting, banking and financial markets.
Course Enrolment Limitations
The course is only offered to the students of the study fields the course is directly associated with.

The capacity limit for the course is 150 student(s).
Current registration and enrolment status: enrolled: 0/150, only registered: 256/150
fields of study / plans the course is directly associated with
there are 6 fields of study the course is directly associated with, display
Abstract
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. 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:
  • understand and apply the methods of financial analysis and company planning and be able to use it,
  • 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 key financial indicators and value of the company.
Key topics

Lectures:

  1. Financial and strategic analysis of the company,
  2. Financial planning I,
  3. Financial planning II,
  4. Capital structure of the company,
  5. Business valuation I,
  6. Business valuation II,
  7. Reading Week,
  8. Investment decision making and project analysis,
  9. Project analysis and real options,
  10. Environmental, social and governance considerations in investment analysis,
  11. Leasing,
  12. Mergers and acquisitions,
  13. Corporate restructuring.

Seminars:
The seminars places emphasis on:


  • Problem-solving practice related to individual topics and
  • Developing a project that focuses on valuing a business valuation.


The structure of seminars is the following:




  1. Introductory information to the course and to the semestral project,
  2. Financial and strategic analysis / Project work
  3. Financial planning I. / Project work
  4. Financial planning II. / Project work
  5. Capital structure / Project work
  6. Progress test no. 1 / Business valuation I / Project work
  7. Reading Week,
  8. Business valuation II / Project work
  9. Investment decision making and project analysis / Project work
  10. Project analysis and real options / Project work - Submission of final version of the project
  11. Assessing the implementation of ESG / Project work: Students' reactions to feedback and final evaluation of the projects
  12. Leasing / Project work: Students' reactions to feedback and final evaluation of the projects
  13. Progress test no. 2 / M&A 
Study resources and literature
    required literature
  • BREALEY, Richard A.; Stewart C. MYERS; Franklin ALLEN and Alex EDMANS. Principles of corporate finance. Fourteenth edition. New York: McGraw-Hill Education, 2023, xxx, 986. ISBN 9781265074159. info
  • Equity valuation and fixed income : CFA Program Curriculum 2024. Hoboken: Wiley, 2024, x, 651. ISBN 9781953337580. info
  • Financial statement analysis : CFA Program Curriculum 2024. Hoboken: Wiley, 2024, x, 507. ISBN 9781953337566. info
  • Corporate issuers, equity valuation : CFA Program Curriculum 2024. Hoboken: Wiley, 2024, viii, 351. ISBN 9781953337573. 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
  • ACCA Applied skills : financial management (FM) : study text. Wokingham: Kaplan Publishing, 2019, 32, 752. ISBN 9781787403918. info
  • MAŘÍK, Miloš and KOLEKTIV. Metody oceňování podniku: proces ocenění, základní metody a postupy. 4th ed. Praha: Ekopress, 2018. ISBN 978-80-87865-38-5. info
  • 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
  • HAWAWINI, Gabriel A. and Claude VIALLET. Finance for executives : managing for value creation. Seventh edition. Andover: Cengage, 2022, xxxi, 800. ISBN 9781473778917. info
Approaches, practices, and methods used in teaching
Lectures, seminars, individual study of literature, individual work, problem-solving practices, progress tests, project work
Method of verifying learning outcomes and course completion requirements
The course is completed by a written exam. The following conditions are applied for the admission to the exam: 

  • Participation in seminars (max. 3 unexcused absences), 
  • Completion of two progress tests and 
  • Project elaboration, submission and reaction to provided feedback.


The overall evaluation of the course is given by the sum of points from the:


  • written exam (max. 40 points)
  • points from progress tests (2 tests - 15 points for each) and 
  • points for project work (max. 30 points).


The following classification scale applies to the final evaluation:
  • A 100 - 92,
  • B 91 - 84,
  • C 83 - 77,
  • D 76 - 69,
  • E 68 - 61,
  • F less than 61 p.
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.

Alternate completion
Students (from ECON MUNI) studying abroad should 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
English
Teacher's information
The course is taught annually. The lectures are not recorded in Studium Online.
Further comments (probably available only in Czech)
The course is taught annually.
The course is taught every week.
General note: Předmět je ekvivalentní předmětu MPF_FAAP a může být za něj uznán. Také je ekvivalentem MPF_FAPA. This course is an equivalent to MPF_FAPA and MPF_FAPA.
The course is also listed under the following terms Spring 2011, Spring 2012, Spring 2013, Spring 2014, Spring 2015, Spring 2016, Spring 2017, Spring 2018, Spring 2019, Spring 2020, Spring 2021, Spring 2022, Spring 2023, Spring 2024, Spring 2025, Autumn 2025, Spring 2026.
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