MPF_FIFI Corporate Finance

Ekonomicko-správní fakulta
podzim 2025

Předmět se v období podzim 2025 nevypisuje.

Rozsah
2/2/0. 6 kr. Ukončení: zk.
Vyučováno kontaktně
Vyučující
Ing. Veronika Kajurová, Ph.D. (přednášející)
doc. Ing. Tomáš Výrost, PhD. (přednášející)
Ing. Veronika Kajurová, Ph.D. (cvičící)
doc. Ing. Tomáš Výrost, PhD. (cvičící)
Garance
doc. Ing. Tomáš Výrost, PhD.
Katedra financí – Ekonomicko-správní fakulta
Kontaktní osoba: Iva Havlíčková
Dodavatelské pracoviště: Katedra financí – Ekonomicko-správní fakulta
Předpoklady
SOUHLAS
Elementary knowledge of financial management, microeconomics and macroeconomics, accounting, banking and financial markets.
Omezení zápisu do předmětu
Předmět je nabízen i studentům mimo mateřské obory.
Předmět si smí zapsat nejvýše 90 stud.
Momentální stav registrace a zápisu: zapsáno: 0/90, pouze zareg.: 20/90, pouze zareg. s předností (mateřské obory): 17/90
Mateřské obory/plány
Cíle předmětu
The main goal of the course is to develop and deepen knowledge related to financial management. Considering the impact on the value of the company, the course develops theoretical framework for understanding and analyzing the main financial topics in the company. It thus focuses on advanced business valuation models, as well as on critical analysis of investment projects, evaluation of their effectiveness with respect to related cash flows and evaluation of their impact on the value of the company. The course also develops skills in analyzing the company's position on the capital market and in raising funds and allocating capital. Attention is also paid to topics such as restructuring and mergers and acquisitions. The course thus provides the necessary knowledge in evaluating selected management decisions and their impact on the company's performance and value.
Výstupy z učení
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.
Osnova
  • Lectures:
    1) Financial analysis (review with an emphasis on selected aspects of the company's financial situation), strategic analysis, main features of a financial plan and its importance,
  • 2) Corporate finance, corporate governance, including responsible finance and ESG,
  • 3) Short-term and long-term financial planning,
  • 4) Capital structure of the company,
  • 5) Investment decision-making and project analysis,
  • 6) Real options,
  • 7) Reading Week,
  • 8) Introduction to company valuation and valuation techniques,
  • 9) Valuation I,
  • 10) Valuation II,
  • 11) Leasing,
  • 12) Restructuring,
  • 13) Mergers and acquisitions.
  • Seminars:
  • The first part of a seminar is devoted to discussion and examples relevant to the topic. The following part of the seminar is devoted to work on a semestral projectIn the following outline, it is taken into account that the seminars take place in the week before the lecture.
  • 1) Introductory information, team formation, company selection for the semester project, including competitors, dataset work.
  • 2) Completion of the dataset / Familiarization with the selected company through financial analysis (emphasis on ratios and DuPont decomposition),
  • 3) Analysis of the competitive environment, life cycle and creation of a business plan,
  • 4) Examples - financial planning / Creation of a financial plan, including the use of various development scenarios,
  • 5) Interim test No. 1 / Examples - capital structure (WACC, effects of change in capital structure on ROE, EPS) / Determination of WACC for a selected company,
  • 6) Public holiday (individual project work)
  • 7) Reading Week,
  • 8) Examples - investment evaluation and project analysis / Investment project proposal for the selected company,
  • 9) Interim test No. 2 / Determination of the CFs of the project and evaluation of the suitability of the proposed project,
  • 10) Calculation of FCFF and FCFE and valuation of the company using the DCF approach,
  • 11) Valuation of the company using other methods,
  • 12) Completion of the semestral project and its submission,
  • 13) Interim test No. 3 / Examples - evaluating the effectiveness of the merger.
Literatura
    povinná literatura
  • BREALEY, Richard A.; Stewart C. MYERS a 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 a Franklin ALLEN. Principles of corporate finance. Thirteenth edition. New York: McGraw-Hill Education, 2020, xxx, 918. ISBN 9781260565553. info
  • Corporate issuers, equity valuation : CFA Program Curriculum 2024. Hoboken: Wiley, 2024, viii, 351. ISBN 9781953337573. 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
    doporučená literatura
  • MAŘÍK, MILOŠ. Metody oceňování podniku pro pokročilé: hlubší pohled na vybrané problémy. 3. upravené. Praha: Ekopress, 2023, 574 s. ISBN 978-80-87865-38-5. info
  • HAWAWINI, Gabriel A. a Claude VIALLET. Finance for executives : managing for value creation. Seventh edition. Andover: Cengage, 2022, xxxi, 800. ISBN 9781473778917. info
  • MAŘÍK, Miloš a KOLEKTIV. Metody oceňování podniku: proces ocenění, základní metody a postupy. 4. vyd. Praha: Ekopress, 2018. ISBN 978-80-87865-38-5. info
  • WESTERFIELD, Randolph a Jeffrey F. JAFFE. Corporate finance. Edited by Stephen A. Ross. 7th ed. Boston: McGraw-Hill, 2005, xxxiii, 94. ISBN 0072829206. info
Výukové metody
Lectures, seminars, individual study of literature, individual consultations, homework, tests, project elaboration.
Metody hodnocení
The course is completed by an oral exam. As part of the oral exam, emphasis will be placed on the discussion related to the submitted project. The overall evaluation of the course is given by the sum of the points from the oral exam (max. 40 points), points from the tests (max. 60 points) and points for the activity (max. 10 points).

The condition for admission to the oral exam is participation in seminars (max. 3 unexcused absences), passing three progress tests (it has to be obtained at least 30 points from the tests*) and processing and submitting in the project (late submission is not accepted). It is possible to get 10 bonus points for an activity. These points will be included in the final evaluation of the subject.

*If the student does not earn at least 30 points from the tests, then the student has the option of one correction. A correction test will take place in the first week of the exam period. It will cover all topics from the course. Again, at least 30 points out of a possible 60 is needed.

The following classification scales apply to the evaluation of students:
A: 92 – 100 p,
B: 84 – 91 p,
C: 76 – 83 p,
D: 68 – 75 p,
E: 61 – 67 p,
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.

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.
Vyučovací jazyk
Angličtina
Informace učitele
The course is taught annually. The lectures are not recorded in Studium Online.
Další komentáře
Předmět již není vypisován.
Výuka probíhá každý týden.
Tento předmět je obsahově ekvivalentní s předmětem MPF_AFAP vyučovaném v anglickém jazyce. Předmět se nebude v P25 vyučovat.
Nachází se v prerekvizitách jiných předmětů
Předmět je zařazen také v obdobích podzim 2009, podzim 2010, podzim 2011, podzim 2012, podzim 2013, podzim 2014, podzim 2015, podzim 2016, podzim 2017, podzim 2018, podzim 2019, podzim 2020, podzim 2021, podzim 2022, podzim 2023, podzim 2024.