Advanced finance [ LLSMS2100 ]
5.0 crédits ECTS
30.0 h
1q
| Teacher(s) |
Deloof Marc ;
|
| Language |
English
|
Place
of the course |
Louvain-la-Neuve
|
| Main themes |
Financing and capital structure.
IPO, Capital increase, shares buyback.
Selection and implementation of optimal portfolios
Returns expected by shareholders and bondholders
|
| Aims |
To give to our students a good understanding of the financial decisions of the firm. A special attention is given to the capital budgeting decisions and the capital structure choices. The second objective is to understand and to implement optimal portfolio strategies.
|
| Content |
Summary
Valuation and expected return (CAPM, APT) are analysed in the first part of the course. Then the optimal financial structure is covered, starting from Modigliani Miller to Black Scholes and options theory. The last part of the course overviews the price reactions to firm announcements such as capital increase, mergers and acquisitions.
Content
An overwiew of financing choices
The financing mix : tradeoffs and theory and Black Scholes theory
Dividend policy : schools and theory
Beyond cash dividends: buybacks, spinoffs, and divestitures
Optimal allocation and portfolio of risky assets
Mergers and acquisitions
Initial Public Offering
Studies of price rection to firm announcements.
Methods
In-class activities
1 Lectures
1 Exercices/PT
At home activities
1 Readings to prepare the lecture
|
| Other information |
Prerequisites :good level and financial accounting and in financial mathematics
Evaluation : Class participation and oral examination, in French
Support : Documents provided through icampus
References : Provided in the course's presentation
Internationalisation
0 international content (the content is universal)
Corporate features
Skills
0 team work
0 individual autonomy
0 problem solving
0 critical thinking
0 assertiveness
Techniques and tools for teaching and learning
0 IT tools
0 Internet work
0 modelling
0 simulation
0 quantitative methods
0 mathematics
|
Cycle et année
d'étude |
> Master [120] in Management
> Master of arts in Business engineering
|
Faculty or entity
in charge |
> CLSM
|
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